17 August 2012 07:18 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures declined on Friday, with ICE Brent futures falling more than $1/bbl amid news that the US Government is considering releasing supplies from its strategic oil reserves, while comments from the Israeli President eased ?xml:namespace>
At 05:48 GMT, October Brent crude on
September NYMEX light sweet crude futures (WTI) were trading at $95.10/bbl, down by 50 cents/bbl from the previous close. Earlier, the
The US Government is reviewing the possibility of releasing supplies from its strategic reserves amid concerns that a rise in gasoline prices is having a negative impact on the economy and reducing the effectiveness of sanctions against
Supply concerns also eased after Israeli President Peres indicated that his country would not pursue unilateral military action against
However, tensions with western powers and its Arab neighbours over its nuclear programme have resulted in a tightening of sanctions against
Oil prices have risen to their highest level since early May 2012 amid supply concerns generated by heightened Middle East tensions resulting from the Iranian nuclear crisis and the ongoing civil war in
Brent prices have also climbed amid field maintenance which has reduced supplies from the
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