 Oil prices ease on profit-taking in Asian trade February 4, 2013 - 09:56 AMT PanARMENIAN.Net - Oil prices eased on profit-taking in Asian trade Monday, Feb 4, after enjoying healthy gains at the end of last week following encouraging U.S. jobs data, analysts said, according to AFP. New York's main contract, light sweet crude for delivery in March, dropped 25 cents to $97.52 a barrel and Brent North Sea crude for March also shed 25 cents to $116.51. "We're starting to see a little healthy pullback. Oil prices were quite strong last week on U.S. nonfarm payroll results," said Yang Weiming, premium client manager at IG Markets Singapore. The U.S. Labor Department on Friday released figures showing a significant upward revision in the number of net jobs added each month in 2012, with monthly growth averaging 181,000, well above the prior estimate of 153,000. Crude prices were also supported by encouraging Chinese manufacturing data that indicated the world's biggest energy consumer is picking up strength after several quarters of slowing growth. Partner news  Top stories Tigran Sargsyan noted that the new plant will be constructed after the current one is finally out of operation. 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.   Partner news |  Latest news Armenian-Cypriots visit Sourp Magar Monastery  A large number of manuscripts, dating back to 1202, as well as other valuable ecclesiastical relics were housed there.Regional flights canceled as Alaska volcano spews ash The lava from its 8,261-foot (2,518-meter) peak has also created huge steam clouds on meeting the mountain's snow.Giant asteroid 1998 QE2 to pass Earth May 31 The asteroid is said to measure in at about 1.7-miles long and will be about 3.6 million miles away from Earth as it passes.Henrikh Mkhitaryan doesn’t plan to leave Shakhtar Shakhtar Donetsk FC midfielder Henrikh Mkhitaryan said he is not planning yet to leave the Ukrainian club. |
