Oil near $93 as markets expected U.S. report on crude suppliesNovember 27, 2013 - 12:50 AMT PanARMENIAN.Net - Oil wallowed near $93 a barrel Wednesday, Nov 27, as energy markets waited for a U.S. report on crude supplies, according to the Associated Press. The benchmark U.S. crude futures contract for January delivery was down 22 cents at $93.46 a barrel at midafternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 41 cents to $93.68 on Tuesday. Oil is down from about $110 in October due to a muted outlook for demand, high supplies and reduced tensions in the oil rich Middle East. Data for the week ending Nov 22 is expected to show a decline of 1.5 million barrels in U.S. crude oil stocks and an increase of 1 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. Crude oil supplies rose by 400,000 barrels for the week ended Nov 15, the ninth straight weekly increase. Brent crude, a benchmark for international oils, was up 6 cents at $110.94 a barrel on the ICE exchange in London. 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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |