jeudi 26 mars 2015
Oil jumps past $50, heads for fifth straight session gain
Posted on 09:22 by nice news
Oil futures jumped past $50 a barrel on Thursday, headed for their fifth straight daily gain as Saudi Arabian airstrikes in Yemen raised fresh concerns over potential disruptions to crude supplies.
May crude CLK5, +2.36% climbed $1.37, or 2.8%, to $50.58 a barrel on the New York Mercantile Exchange. It hit an intraday high of $52.48 a barrel, according to FactSet data.
May Brent crude LCOK5, +3.15% on London’s ICE Futures exchange rose $1.52, or 2.7%, to $58 a barrel.
Saudi Arabia and other Gulf nations launched airstrikes against rebel forces in Yemen’s capital and across the country. The strikes began Thursday morning, hours after Yemen’s president, Abed Rabbo Mansour Hadi, fled the southern port city of Aden by boat when Iranian-backed Houthi militants closed in.
“Saudi Arabia, the biggest and most important oil producer in the Middle East, is now in an armed conflict,” said Bjarne Schieldrop, chief commodities analyst at SEB Markets, in a note. “Just the headline of this happening is driving chilling fears into the bones of all oil consumers.”
Schieldrop doesn’t expect the conflict in Yemen to have much of an impact on oil supply.
Still, although Yemen isn't a very big pro
May crude CLK5, +2.36% climbed $1.37, or 2.8%, to $50.58 a barrel on the New York Mercantile Exchange. It hit an intraday high of $52.48 a barrel, according to FactSet data.
May Brent crude LCOK5, +3.15% on London’s ICE Futures exchange rose $1.52, or 2.7%, to $58 a barrel.
Saudi Arabia and other Gulf nations launched airstrikes against rebel forces in Yemen’s capital and across the country. The strikes began Thursday morning, hours after Yemen’s president, Abed Rabbo Mansour Hadi, fled the southern port city of Aden by boat when Iranian-backed Houthi militants closed in.
“Saudi Arabia, the biggest and most important oil producer in the Middle East, is now in an armed conflict,” said Bjarne Schieldrop, chief commodities analyst at SEB Markets, in a note. “Just the headline of this happening is driving chilling fears into the bones of all oil consumers.”
Schieldrop doesn’t expect the conflict in Yemen to have much of an impact on oil supply.
Still, although Yemen isn't a very big pro
Oil jumps past $50, heads for fifth straight session gain
Categories: heads for fifth straight session gain, Oil jumps past $50
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