Virtual Position Forum
Please register to watch content in detail
Thanks
Admin virtual position


Join the forum, it's quick and easy

Virtual Position Forum
Please register to watch content in detail
Thanks
Admin virtual position
Virtual Position Forum
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Crude down in Asia over US debt impasse

View previous topic View next topic Go down

GMT + 3 Hours Crude down in Asia over US debt impasse

Post by Noor Bangash Wed Sep 14, 2011 10:56 am

[You must be registered and logged in to see this image.]





SINGAPORE: Crude prices were down in Asian trade Thursday, with investors fretting over the state of the US economy as lawmakers scrambled for a compromise to avert a devastating default, analysts said.

New York's main contract, light sweet crude for delivery in September, fell 45 cents to $96.95 per barrel.

Brent North Sea crude for September delivery shed 15 cents to $117.28.

A drawn-out political impasse in the United States as polarised politicians struggled to find a mutually agreeable middle ground over a debt solution for the world's largest oil consumer was exacting its toll on traders.

"Prices remain largely range-bound... as a result of the economic uncertainty, particularly with regard to the US budget impasse," said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at Ernst & Young.

Congress was due later Thursday to consider Republican Speaker John Boehner's plan to raise Washington's $14.3 trillion debt ceiling although it looked doomed to fail due to a White House veto threat.

US lawmakers were privately hunting for a compromise to avert a debt default due to kick in on August 2. (AFP)
Noor Bangash
Noor Bangash
Monstars
Monstars

Aquarius Horse
Posts : 868
Join date : 2011-07-13
Age : 34
Disagree

Character sheet
Experience:
Crude down in Asia over US debt impasse Left_bar_bleue500/500Crude down in Asia over US debt impasse Empty_bar_bleue  (500/500)

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum