ZEE Business
ZEE BUSINESS
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Market
    • Mutual Funds
    • Commodity
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » World News

Oil markets tense after western strikes on Syria, but rising US drilling weighs

Oil prices today: Brent crude oil futures LCOc1 were at $71.87 per barrel at 0124 GMT, down 71 cents, or 1 percent from their last close.

  • Twitter
  • Facebook
  • GPlus
Oil markets tense after western strikes on Syria, but rising US drilling weighs
US West Texas Intermediate (WTI) crude futures CLc1 were down 59 cents, or 0.9 percent, at $66.80 a barrel. Image source: Reuters
By Reuters
Updated: Mon, Apr 16, 2018
08:14 am
Reuters
RELATED NEWS
India looks to use new-found clout to seek better oil bargains India looks to use new-found clout to seek better oil bargains
Oil gains on pipeline outage tempered by robust U.S. output Oil gains on pipeline outage tempered by robust U.S. output
Brent crude prices near 2015 high after North Sea pipeline disruption Brent crude prices near 2015 high after North Sea pipeline disruption
Oil edges higher, anticipating another drawdown in U.S. stocks Oil edges higher, anticipating another drawdown in U.S. stocks
U.S. oil steady after OPEC extension of production cut U.S. oil steady after OPEC extension of production cut

Oil prices fell on Monday as markets opened the week cautiously following western air strikes in Syria over the weekend, and as American drilling for new production continued to rise. The United States, France and Britain launched 105 missiles on Saturday, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on April 7.

Brent crude oil futures LCOc1 were at $71.87 per barrel at 0124 GMT, down 71 cents, or 1 percent from their last close.

US West Texas Intermediate (WTI) crude futures CLc1 were down 59 cents, or 0.9 percent, at $66.80 a barrel.

Traders said markets in Asia began cautiously after the weekend strikes, while oil markets also came under pressure from a rise in U.S. oil drilling activity.

U.S. energy companies added seven oil rigs drilling for new production in the week to April 13, bringing the total to 815, the highest since March 2015, energy services firm Baker Hughes said on Friday.

Despite this, Brent is still up more than 16 percent from its 2018 low in February, due to healthy demand and also because of conflict and tension in the Middle East.

Although Syria itself is not a significant oil producer itself, the wider Middle East is the world’s most important crude exporter and tension in the region tends to put oil markets on edge.

“Investors continued to worry about the impact of a wider conflict in the Middle East,” ANZ bank said.

TAGS:
Brent crude oil
Next Article

NEXT STORY: Asian markets mixed, oil prices slip amid Syria fallout

RELATED NEWS
India looks to use new-found clout to seek better oil bargains India looks to use new-found clout to seek better oil bargains
Oil gains on pipeline outage tempered by robust U.S. output Oil gains on pipeline outage tempered by robust U.S. output
Brent crude prices near 2015 high after North Sea pipeline disruption Brent crude prices near 2015 high after North Sea pipeline disruption
Oil edges higher, anticipating another drawdown in U.S. stocks Oil edges higher, anticipating another drawdown in U.S. stocks
U.S. oil steady after OPEC extension of production cut U.S. oil steady after OPEC extension of production cut

LATEST NEWS

Life insurance cover offers more than death benefits; here is how to gain

Jobs in India: Why India's demographic dividend may turn into demographic disaster

TCS Q4 results 2018 impact: Share price spikes 5% to record high; CLSA says 'Buy', ups TP to whopping Rs 3,700

FAST MONEY: Exide Industries, Hindalco among key intraday trading calls for today

Fortis Healthcare sale: Pai, Munjal,-Burman in last lap

UPSC Recruitment 2018: Notification for vacancies out, check upsc.gov.in and upsconline.nic.in

Yes Bank gets RBI nod to open offices in London, Singapore

Huawei P20 Pro, P20 Lite launch gets India deadline: Price, specs and features here

ATM cash crunch: FinMin claims 86% of machines dispensing money across India

Goa port banks on Adani, JSW to tide over mine ban

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Contact Us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved