YEREVAN, September 28. /ARKA/. US crude oil prices continued their southward movement on Friday and were seen heading to end this week on a negative note amid rise in US crude oil stock-piles, waning Middle East tensions and production recovery in Libya and Nigeria. WTI crude oil for November delivery on NYMEX was seen trading with a loss of 32 cents at $102.71 per barrel as of 09.22 IST on Friday.
Joint efforts by the United States and Russia to remove chemical weapons from Syria have eased concerns over crude oil supply disruptions from the Middle East caused by US led military operation against Syria in response to alleged chemical weapon attack by the Syrian forces on Syrian people. Iran and the United States held talks on Thursday over Iran's controversial nuclear programme and tone of the talks was positive, according to the media reports.
A list of data release is scheduled for the day and crude oil prices may change their direction after the data release. National Institute for Statistics and Economic Studies is scheduled to release its data on French Consumer Spending and French Gross Domestic Product (GDP) 12.15 IST on Friday.
A speech from European Central Bank (ECB) president Mario Draghi is expected at 14.30 IST while Federal Statistical Office Germany is scheduled to release its Consumer Price Index (CPI) at 17.30 IST on Friday. An index on US Personal Spending and Michigan Consumer Sentiment Index is scheduled to be released at 18 and 19.25 IST Friday. –0--