10:44 AM
alphaadvisory
Brent crude oil prices are trading near nine month highs as Iran has decided it would not cede to demands from the West.
Iran’s international relations grabbed the spotlight last week, with the country’s supreme leader Khomeni rejecting the US offer for nuclear talks, providing a further hurdle for diplomacy.
Meanwhile, “the relatively positive outlook for international demand is continuing,” said Ric Spooner, a chief market analyst at CMC Markets in Sydney to Bloomberg as he referred to crude oil demand.
“The U.S. inventory data, retail sales and industrial production figures toward the end of the week will give an insight into the short-term activity in the U.S.” he added.
Brent crude for delivery on April 13 was seen trading at $117.74 a barrel, a loss of $0.07 or 0.06% as of 10.31 AM IST.
Conditional talks?
And in a battle of political relevance, Iranian President Mahmoud Ahmadinejad has said he is ready to have talks with the US on nuclear issues, but on condition! Ahmadinejad added that no power will be able to impose its will on the Iranians.
"You pull away the gun from the face of the Iranian nation, and I myself will enter the talks with you," Ahmadinejad decalred at a ceremony marking the 34th anniversary of the 1979 revolution that toppled Iran’s erstwhile ruler Shah.
"Today, because of dishonorable pressure by enemies, people are under pressure. The government is concerned about the uneasy situation of a big portion of the country." He was quoted by The Guardian as saying.
The Western powers are unlikely to lift sanctions.
On India's MCX, crude oil for delivery on February 19 was seen trading at Rs.5144 a barrel, a loss of 0.16% as of 10.29 AM IST.
Iran’s international relations grabbed the spotlight last week, with the country’s supreme leader Khomeni rejecting the US offer for nuclear talks, providing a further hurdle for diplomacy.
Meanwhile, “the relatively positive outlook for international demand is continuing,” said Ric Spooner, a chief market analyst at CMC Markets in Sydney to Bloomberg as he referred to crude oil demand.
“The U.S. inventory data, retail sales and industrial production figures toward the end of the week will give an insight into the short-term activity in the U.S.” he added.
Brent crude for delivery on April 13 was seen trading at $117.74 a barrel, a loss of $0.07 or 0.06% as of 10.31 AM IST.
Conditional talks?
And in a battle of political relevance, Iranian President Mahmoud Ahmadinejad has said he is ready to have talks with the US on nuclear issues, but on condition! Ahmadinejad added that no power will be able to impose its will on the Iranians.
"You pull away the gun from the face of the Iranian nation, and I myself will enter the talks with you," Ahmadinejad decalred at a ceremony marking the 34th anniversary of the 1979 revolution that toppled Iran’s erstwhile ruler Shah.
"Today, because of dishonorable pressure by enemies, people are under pressure. The government is concerned about the uneasy situation of a big portion of the country." He was quoted by The Guardian as saying.
The Western powers are unlikely to lift sanctions.
On India's MCX, crude oil for delivery on February 19 was seen trading at Rs.5144 a barrel, a loss of 0.16% as of 10.29 AM IST.
Posts
0 comments:
Post a Comment