Oil falls as Europe’s crisis reinforces growth worries
gasoline futures jumped more than 3 percent due to depressed inventories and supply uncertainty.
A gas Canada Goose Coats On Sale pump canada goose black friday sale is seen hanging from the ceiling at cheap canada goose uk a petrol station in Seoul June 27, 2011. South Korea, as a member of the uk canada goose outlet 28 nation IEA, will release 3.46 million barrels oil stocks over 30 days after a meeting with local refiners later on Monday. REUTERS/Jo Yong Hak
The dispute between the West and Iran over Tehran nuclear program limited Canada Goose Jackets losses for Brent crude, which is more sensitive to supply disruptions in the Middle East and Africa.
Europe canada goose factory sale debt problems deepened as Spain economy continues to slow and anti austerity demonstrators and police clashed in canada goose jackets sale canada goose store Athens and Madrid, Canada Goose Outlet pushing the euro to a two week low Canada Goose online against the dollar and pummeling European equities.
is off today, said Olivier Jakob, energy analyst at Petromatrix in Zug, Switzerland. Greek strike and Spanish demonstrations are getting a lot canada goose uk black friday of canadian goose jacket coverage. crude inventories fell 2.45 million barrels last week, against analyst expectations that they would be higher.
Brent November crude fell 41 cents to settle at $110.04 a barrel, after stumbling to $108.45.
Brent canada goose coats on sale hit a six week low of $107.10 last Thursday, but remained on track this week to post a 12 percent gain for the third quarter, after sinking Canada Goose Parka 20 percent in the previous quarter. November crude tumbled $1.39 to settle at $89.98 a barrel, below its 100 day moving average of $90.27 and the buy canada goose jacket lowest settlement and first under $90 since August 2. Wednesday session low of $88.95 was its lowest since prices hit $87.23 intraday on August 3. crude was on pace to post a nearly 6 percent gain for the third quarter, after a 17.5 percent second quarter dive. crude increased to $20.06 a barrel based on settlements, moving above the $20 level for the first time since August 16. RBOB gasoline futures jumped 11.40 cents, or 3.8 percent. Gasoline pushed back above $3 a gallon, even as the rest of the oil complex was pressured.
Gasoline got a lift from a report canada goose of an explosion at buy canada goose jacket cheap Irving Oil Ltd New Brunswick, Canada, refinery, though the company later said the blast was in a tank https://www.canadagooseoutlet4online.com and that normal operations uk canada goose had resumed at the refinery.
Seasonal maintenance at refineries on both sides of the Atlantic ahead of Northern Hemisphere winter fuel demand added support to futures prices. Energy Information Administration.
seen major moves on the RB (gasoline) canada goose coats market so far and the continuing draws on inventory are canada goose uk shop giving us not much hope with maintenance season ahead, said Carl Larry, president at Oil Outlooks LLC. gasoline futures contract traded on the New York Mercantile Exchange. heating oil, the benchmark Canada Goose Online distillate futures contract, edged 0.06 percent lower, as front month October refined products contracts headed for expiration on Friday.
EUROPE CRISIS Demonstrators clashed with police on the streets of Athens and Madrid on Wednesday anger at new austerity measures being imposed on two of the euro zone most vulnerable economies spilled into the streets.
The Bank of Spain said the country gross domestic product fell at a rate in the third quarter, helping pressure European equities to their worst session in two months.
IRAN NUCLEAR PROGRAM According canada goose clearance to some experts and diplomats, Iran appears to be making headway in building a research reactor that could yield potential nuclear weapon material.
Iranian President Mahmoud cheap Canada Goose Ahmadinejad on Wednesday told reporters at the United Nations that Tehran is capable of neutralizing all efforts to sabotage its nuclear facilities and repeated that Iran is ready Canada Goose sale for dialogue with the United States.
Additional reporting by Janet canada goose uk outlet McGurty in New York, Christopher Johnson in London and Ramya Venugopal in Singapore; Editing by David Gregorio and Jim Marshall canada goose clearance sale.