Sat, 13 Aug 2022 Today's Paper

Oil prices up on escalating South Sudan violence

27 December 2013 01:55 am - 0     - {{hitsCtrl.values.hits}}

A A A

Crude edged higher in Asian trade yesterday on supply concerns following escalating violence in oil-producer South Sudan, but gains were capped as dealers sat on the sidelines awaiting fresh leads after the festive season.

New York’s main contract, West Texas Intermediate for February delivery, was up 13 cents at $99.35 in afternoon trade while Brent North Sea crude for February gained 17 cents to $112.07. Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at consultancy firm EY, said oil prices were being supported by “fears of disruptions in supply from South Sudan”.

But “markets are likely to remain rangebound till the release of new economic data during the first of week of 2014”, he said.

Violence in South Sudan, a fledgling oil producer, escalated Wednesday as its army battled rebel forces in a key oil-producing state, while the United Nations moved to double its peacekeeping force to stave off civil war.

Oil production, which accounts for more than 95 percent of South Sudan’s economy, has been dented by the violence, with oil workers evacuated last week.

The escalating violence has added to concerns about a disruption in global supply, following the continued curtailment of output from OPEC member Libya due to a months-long blockade of crucial terminals in the eastern part of the country.

Investors are also awaiting the weekly US oil inventories report to be released Friday for clues about US demand.

Analysts project US supplies fell 2.2 million barrels, according to a survey by the Wall Street Journal.

(AFP)
Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Tamil Parties Must Urge Full Implementation of 13A

Last week’s article was about the guerilla war fought by the Janatha Vimukt

Govt. re-recommends COVID-19 regulations: Medics, legal experts warn of vaccine expiry dates and injuries

The public has once again been advised to wear masks to prevent the spread of

8-year-old grave sexual abuse victim gets justice after 18 years

In Palawela Udaniriella, an 8-year-old girl became the victim of Grave Sexual

Covid makes a comeback!

These questions have been buzzing in our heads over the past few weeks as hea