Oil prices down
AFP
By our correspondents
April 08, 2015
Singapore
Oil prices fell on profit-taking in Asia Tuesday after rallying in the previous session owing to doubts the nuclear agreement between Iran and global powers will immediately boost Tehran´s crude exports, analysts said.
US benchmark West Texas Intermediate (WTI) fell 35 cents to $51.79, while Brent dipped 51 cents to $57.61 in late-morning trade.
West Texas Intermediate jumped $3 while Brent bolted $3.17 on Monday.
“The current decline in oil prices is most likely due to profit-taking as investors sold at rising prices to secure gains,” Ken Hasegawa, energy trading manager at Newedge Group in Tokyo, told AFP.
Analysts attributed the steep increase on Monday to investors concluding that the nuclear framework agreed between Iran and international powers will have a minimal near-term effect on the international crude supplies.
Oil prices fell on profit-taking in Asia Tuesday after rallying in the previous session owing to doubts the nuclear agreement between Iran and global powers will immediately boost Tehran´s crude exports, analysts said.
US benchmark West Texas Intermediate (WTI) fell 35 cents to $51.79, while Brent dipped 51 cents to $57.61 in late-morning trade.
West Texas Intermediate jumped $3 while Brent bolted $3.17 on Monday.
“The current decline in oil prices is most likely due to profit-taking as investors sold at rising prices to secure gains,” Ken Hasegawa, energy trading manager at Newedge Group in Tokyo, told AFP.
Analysts attributed the steep increase on Monday to investors concluding that the nuclear framework agreed between Iran and international powers will have a minimal near-term effect on the international crude supplies.
-
Lana Del Rey Announces New Single Co-written With Husband Jeremy Dufrene -
Ukraine-Russia Talks Heat Up As Zelenskyy Warns Of US Pressure Before Elections -
Lil Nas X Spotted Buying Used Refrigerator After Backlash Over Nude Public Meltdown -
Caleb McLaughlin Shares His Resume For This Major Role -
King Charles Carries With ‘dignity’ As Andrew Lets Down -
Brooklyn Beckham Covers Up More Tattoos Linked To His Family Amid Rift -
Shamed Andrew Agreed To ‘go Quietly’ If King Protects Daughters -
Candace Cameron Bure Says She’s Supporting Lori Loughlin After Separation From Mossimo Giannulli -
Princess Beatrice, Eugenie Are ‘not Innocent’ In Epstein Drama -
Reese Witherspoon Goes 'boss' Mode On 'Legally Blonde' Prequel -
Chris Hemsworth And Elsa Pataky Open Up About Raising Their Three Children In Australia -
Record Set Straight On King Charles’ Reason For Financially Supporting Andrew And Not Harry -
Michael Douglas Breaks Silence On Jack Nicholson's Constant Teasing -
How Prince Edward Was ‘bullied’ By Brother Andrew Mountbatten Windsor -
'Kryptonite' Singer Brad Arnold Loses Battle With Cancer -
Gabourey Sidibe Gets Candid About Balancing Motherhood And Career