Oil prices ease in Asia amid Syria concernsApril 26, 2013 - 10:19 AMT PanARMENIAN.Net - Oil prices eased in Asia on Friday, April 26 as traders cashed in recent gains following signs of strengthening U.S. energy demand and concerns over Syria, analysts said, according to AFP. New York's main contract, light sweet crude for delivery in June dropped 62 cents to $93.02 a barrel in the afternoon Brent North Sea crude for June delivery shed 53 cents to $102.88. "There has been a slight pullback in prices on profit taking," Michael McCarthy, chief market strategist at CMC Markets in Sydney, said. "We've seen some very strong gains in oil over the past few days, with U.S. stockpiles data and news on Syria." Oil prices jumped Thursday after the United States said Syrian government forces had likely used chemical weapons, raising worries that Washington would punish Damascus militarily. Earlier in the week, crude markets had also been supported by lower-than-expected gain in U.S. crude stockpiles, suggesting demand in the world's top crude consumer was on the path to recovery. 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. |