  Oil prices rise amid tensions between Turkey, Syria October 11, 2012 - 10:15 AMT PanARMENIAN.Net - Oil prices rose Thursday, Oct 11, as growing tensions between Turkey and Syria caused worries about the reliability of Middle East crude supplies, The Associated Press reports. Benchmark oil for November delivery was up 36 cents to $91.61 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.14 to finish at $91.25 per barrel on the Nymex on Wednesday after some mixed economic signals. Brent crude, used to price international varieties of oil, rose 57 cents to $113.75 on the ICE Futures Exchange in London. Turkish jets on Wednesday forced a Syrian passenger plane to land at Ankara airport on suspicion that it might be carrying weapons or other military equipment to support the regime of President Bashar Assad in its civil war against Syrian rebels. Escalating tensions between the two former allies are "one of the things that are keeping oil prices somewhat firm to stronger," said Ric Spooner, chief market analyst at CMC Markets in Sydney. Many observers fear the civil war in Syria could grow into a wider regional conflict that could threaten oil supplies from Middle East producers. The Middle East and North Africa account for about a third of global oil production.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
