Oil prices stage rebound after three days of losses October 9, 2012 - 12:34 AMT PanARMENIAN.Net - Oil prices staged a rebound Tuesday, Oct 9, following three days of losses, rising on supply concerns due to the Syrian conflict and delays in shipments of North Sea oil, AP reports. Benchmark crude for November delivery was up 76 cents to $90.09 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 57 cents to $89.30 per barrel in New York on Tuesday. In London, Brent crude, which is used to price international varieties of oil, rose 74 cents to $112.56. “For the second time in the last three months oil markets received a jolt on concerns related to supply in the North Sea,” said oil analyst Stephen Schork. “Supply fears have been getting priced into the market.” He said the resumption of production from North Sea oil rigs that were undergoing maintenance has been slower than anticipated. Traders have also been watching developments surrounding Syria for any signs of a disruption in supplies from the Middle East. There are fears that the violence in Syria could escalate into a wider regional conflict, threatening oil supplies. Partner news  Top stories IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices. Edmon Manukyan been addressed by the residents of Armavir and Aragatsotn provinces whose crops have been damaged over a strong hail.   Partner news |  Latest news Artsakh President attends Berdzor town 21st anniv. liberation events  Bako Sahakyan noted the liberation of Berdzor town as an important military, political and psychological victory.200 Azeri ceasefire violations reported May 12-18 200 ceasefire violations by the Azeri armed forces were reported at the line of contact between Nagorno Karabakh and Azerbaijan.Gunmen kill Iraqi police officer's family The recent spike of violence has raised fears that the country might be heading to a new round of sectarian violence.Serzh Sargsyan reelected as Armenian Chess Federation president Armenian President Serzh Sargsyan was reelected to the post of the president of RA Chess Federation for 4 more years. |
