Brent posts 4th straight yearly gain



NEW YORK: ARAB NEWS

Published — Tuesday 1 January 2013

Last update 1 January 2013 12:39 am

| نسخة PDF Print News | A A

Brent crude futures closed in on a record full-year average daily price for 2012 last night, even with oil prices mixed in choppy trading as uncertainty about a US budget deal to avert mandated spending cuts and tax hikes continued to buffet markets.
Brent crude futures were on pace to post a fourth consecutive full-year gain, though the rise of nearly 3 percent in 2012 will lag considerably the 13.3 percent rise in 2011.
US crude edged higher yesterday in morning trading in New York, but was on tap to end the year more than 8 percent lower from its 2011 finish, after three straight yearly gains.
Brent February crude dipped 18 cents to $ 110.44 a barrel at 1554 GMT, heading for a third straight lower settlement, having fallen to $ 109.38 before pushing back above the 200-day moving average of $ 109.88.

What's happening around Saudi Arabia

JEDDAH: Labor Minister Mufrej Al-Haqabani has launched a series of electronic projects and facilities provided to the private sector companies, the SPA reported on Sunday.The projects and facilities include electronic visa issuance for the distinguis...
RIYADH: A high-powered team of officials from the Ministry of Health visited the hospitals in Jazan in the southern border to ensure services are in place to serve the patients in the region.The group of officials, comprising Dr. Nahar Al-Azmi, Dr. T...
YANBU: Like many Saudi women, Amani dreamt of becoming a mother, but was unable to have children of her own after many years of marriage. Therefore, she decided to spend her time taking care of orphans with special circumstances in Makkah.However, th...
RIYADH: A total of 43 warehouses were shut down in Jeddah for failing to take safety and health measures.Officials of the general department of Civil Defense in Jeddah carried out inspection at 165 industrial complexes in the industrial zone recently...
JEDDAH: A quarrel between two girls at the Al-Zahour Orphanage in Makkah took a violent turn recently, with one of them reportedly using a sharp instrument to attack the other and injuring her.The attacker was sent to a correction center, while the i...
RIYADH: A woman and three men died on Sunday after contracting the Middle East Respiratory Syndrome coronavirus (MERS-CoV) in Riyadh, bringing the total number of deaths to 507 since June, 2012.According to the latest report issued by the Ministry of...

Stay Connected

Facebook