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Thursday, July 19, 2012

crude oil futures prices july 20 2012

crude oil futures prices july 20 2012, Brent crude 7/20/2012 : U.S. crude prices edged lower in early Asian trade on Friday, after rising for seven straight days and hitting an eight-week high in the prior session, as Middle East tensions eased after Israel hinted it would not rush into open conflict with Iran.

FUNDAMENTALS
* U.S. crude slipped 68 cents to $91.98 a barrel by 0019 GMT. It settled at $92.66 a barrel on Thursday, up $2.79, after hitting an intraday top of $92.94 -- highest since May 22.

* Brent crude fell 46 cents to $107.34. It jumped $2.64 to end at $107.80 a barrel in the previous session, having reached $108.18, also the highest since May 22.

* Israel signalled on Thursday it would not rush into any open conflict with Iran or its Lebanese guerrilla ally Hezbollah despite blaming them for a deadly attack on its citizens in Bulgaria.

* Rebels seized control of sections of Syria's international borders and torched the main police headquarters in the heart of old Damascus, advancing relentlessly after the assassination of Bashar al-Assad's closest lieutenants.

* The global economy will labour against a dismal tide from recession-hit Europe for the rest of this year, but 2013 should bring better growth, according to Reuters polls of hundreds of economists worldwide.

* German Chancellor Angela Merkel easily won a parliamentary vote on a euro zone rescue package for Spanish banks on Thursday despite growing unease in her centre-right coalition about the rising cost of Europe's debt crisis for German taxpayers.

* The United States warned the maritime industry on Thursday that Iranian ships were still using other country's flags in an attempt to evade Western sanctions against the country.

MARKETS NEWS
* The euro fell against the dollar on Thursday and touched a record low against the Australian dollar and a 3-1/2-year trough versus sterling, as weak U.S. data and fresh warnings from Germany about Spain's banking troubles diminished risk appetite.

* U.S. stocks rose on Thursday for a third straight day, with the S&P 500 at a 2-1/2 month high, as earnings from technology companies and expectations for more monetary stimulus outweighed weak economic data.

DATA/EVENTS
* The following data is expected on Friday:
- 0600 DE producer prices mm
- 1930 CFTC commitment of traders data Weekly

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