Now every student, or everyone who

believes in freedom or the end of war can speak independently. And their voices combine and make a powerful weapon." Brent crude was steady under scarpe hogan $119 a barrel on Tuesday as fears over the health of the euro zone economies and political uncertainty countered worries over a production stoppage inthe North Sea and potential supply disruptions from Iran. The euro zone economy remains in dire straits, with Monday's data showing the region's business slump deepened at a quicker pace than expected in April - indicating the region will stay in a recession through the second half of the year. Brent crude rose 16 cents to $118.87 a barrel by 10:07 p.m. EDT, while U.S. crude was up 14 cents at $103.25. "The whole macro picture at the hogan outlet moment just doesn't look good for crude. It's looking pretty bearish," said Jim Ritterbusch, president of oil trading consultant Ritterbusch & Associates in Galena, Illinois. "So far all they (euro zone economies) have been doing is throwing band-aids on their problems. I still see significant risk from the southern European economies - Spain, Portugal Italy to some extent. This is nowhere near over." Political turmoil in the Netherlands, where Prime Minister Mark Rutte tendered his government's resignation on Monday in a crisis over budget cuts, added to the sense of concern about Europe. While concerns over supply hogan flows following a production stoppage at the North Sea Buzzard oil field, Britain's largest, and worries over exports from Iran amid Western sanctions supported oil prices, rising global inventories are likely to cap gains. "Even with this (North Sea disruption) and Iran's barrels coming off the market, there is more than enough oil to meet demand at the moment," Ritterbusch said.

25.4.12 04:53


bisher 0 Kommentar(e)     TrackBack-URL

E-Mail bei weiteren Kommentaren
Informationen speichern (Cookie)

Die Datenschuterklärung und die AGB habe ich gelesen, verstanden und akzeptiere sie. (Pflicht Angabe)

 Smileys einfügen

Verantwortlich für die Inhalte ist der Autor. Dein kostenloses Blog bei! Datenschutzerklärung