Saudi Crown Prince, Italian PM Meloni discuss regional security in phone call    Musaned tops 2024 Beneficiary Satisfaction Index among 39 platforms with a rate of 96%    Saudi Arabia launches loan guarantees for SMEs to stimulate investment in environmental projects    Dr. Soliman Fakeeh Hospital, Jeddah is among top three 5-star hospitals in Middle East and North Africa    Antenna: Saudi artist Ahmed Mater opens first solo exhibition in China    79 hospitality facilities in Makkah and Madinah face penalties for closure order violations    S&P upgrades Saudi Arabia's credit rating to A+    Trump orders 'decisive' military action against Houthis in Yemen    US Senate passes Republican spending bill to avert government shutdown    Zelenskyy says territorial control key to peace talks, rejects recognition of occupied regions    Pakistan says train hijacking death toll rises to 30, accuses India and Afghanistan of supporting militants    Al Nassr climbs to third with dominant win over Al Khaleej, Al Qadsiah slips after loss to Damac    CEDA reviews role of reforms in diversification of economy and surge in non-oil revenues    Crown Prince receives Yazeed Al-Rajhi after historic Dakar Rally 2025 victory    Saleh Al-Shehri's late penalty rescues Al Ittihad against Al Riyadh    SR17 million fines slapped on 16 individuals and companies convicted of violating Capital Market Law    Grand Mufti rules against posting prayers and preaching in mosques on social media    Man lives for 100 days with titanium heart in successful new trial    Argentinian court begins trial of seven healthcare professionals over Maradona's death    Singer Wheesung who wooed Korea with his ballads, found dead at 43    Prince Frederik of Luxembourg dies from rare disease    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Oil prices steady after falling back from overnight record near US$110
Published in Saudi Press Agency on 12 - 03 - 2008


Oil prices held steady Wednesday after
falling back from an overnight record near US$110 a barrel,
supported by the further weakening of the U.S. dollar. AP reported.
In Tokyo currency trading Wednesday, the greenback fell
against the yen in Asia despite the U.S. Federal Reserve's
plan to pump US$200 billion (¤130 billion) into the
financial markets to help ease the strain from the credit
crisis.
The energy watchdog agency for the world's most
industrialized nations slightly cut its projection for
world oil demand, which it now sees at 87.5 million barrels
a day for this year, up 2 percent from 2007.
Traders were also eyeing the release of data later
Wednesday that is expected to show U.S. petroleum
stockpiles grew last week, according to a Dow Jones
Newswires survey of analysts.
The report is expected to show that U.S. crude oil
stockpiles grew 1.6 million barrels, gasoline stockpiles
grew 300,000 barrels, and stocks of distillates, which
include diesel fuel and heating oil, fell 2 million
barrels.
In other Nymex trading, heating oil futures lost 0.47 cent
to US$2.991 a gallon (3.8 liters) while gasoline prices
lost 1.01 cents to US$2.716 a gallon. Natural gas futures
lost 2.3 cents to US$9.977 per 1,000 cubic feet.
In London, Brent crude futures fell 24 cents to US$105.01
a barrel on the ICE Futures exchange.


Clic here to read the story from its source.