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Monday, September 24, 2012

crude oil futures prices for 25/9/2012

crude oil futures prices for 25/24/2012 ; U.S crude oil futures rose back over $92 a barrel in early Asian trading on Tuesday, as lingering supply concerns overshadowed worries about demand being stifled by a fragile global economy.

 Crude oil fundamentals forecast september 25 2012

    * November U.S. crude rose 39 cents to $92.32 a barrel by 0107 GMT after settling 1 percent lower in New York on Monday, dragged down by disappointing German economic data.

    * Brent crude for November delivery rose 30 cents to $110.11.

    * On Monday, Washington tightened sanctions aimed at curbing Iran's nuclear ambitions, linking its oil company to its Islamic Revolutionary Guard Corps. The move will allow apply new sanctions on foreign banks dealing with the company.

    * Iranian President Mahmoud Ahmadinejad said on Monday Israel has no roots in the Middle East and would be "eliminated", ignoring a U.N. warning to avoid incendiary rhetoric ahead of the annual General Assembly session.

    * German business sentiment dropped in September for the fifth straight month, raising fears of recession as companies struggled with what an economist for the Munich-based Ifo institute called the worst economic outlook since
mid-2009. 

    * Offering one of the clearest road maps yet for the Federal Reserve's latest monetary stimulus, John Williams, a top Fed policy maker, said on Monday he expects the central bank to expand its bond-buying program next year and end it before the close of 2014.

    * Central bank stimulus is not enough to fix the ailing global economy and governments must increase their efforts to boost growth, Group of 20 officials agreed on Monday.

    * Nigeria's crude oil exports are expected to hit a six-month high in November as almost all its oil fields pump near recent peak levels, provisional loading programs showed.

    * A Reuters poll of analysts released Monday forecast a 1.4 million barrel build in crude inventories for the week to Sept. 21, with gasoline and distillate stockpiles also expected to show modest increases.
   
    MARKET NEWS
    * Asian shares eased on Tuesday after sentiment was weakened by data showing Germany's business confidence dropped in September, and a weak earnings forecast from Caterpillar Inc , both of which underscored worries about a global growth slowdown.

    * The euro steadied in early trade in Asia after falling to a more than one-week low against the dollar overnight as worries about Spain's debt persisted and weak German business data fanned fears of slowing growth.

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