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    <title>Business Recorder - Markets - Energy</title>
    <link>https://www.brecorder.com/</link>
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    <copyright>Copyright 2026</copyright>
    <pubDate>Thu, 13 Aug 2026 12:50:43 +0500</pubDate>
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      <title>Oil prices stable amid ongoing Middle East unrest</title>
      <link>https://www.brecorder.com/news/8579/oil-prices-stable-amid-ongoing-middle-east-unrest</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/pics2011/mar/Oil_Fields_404.jpg" width="400" height="291" /&gt;NEW YORK: Crude oil prices were little-changed on Thursday as Japan's turn toward economic recovery and ongoing fighting in Libya gave few new signals to traders, while US economic data disappointed bulls.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;On New York's Nymex exchange a barrel of West Texas Intermediate for May delivery pared 15 cents to $105.60.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;In London, the benchmark Brent North Sea crude added 15 cents to $115.72.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"We ran into some profit taking," said John Kilduff of Again Capital.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"What was haunting the market all day was the durable goods report that was disappointing and bearish."&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;US government figures for February showed a 0.9 percent drop in factory orders, mainly due to lower demand for machinery, a barometer of economic growth, and for defence equipment.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The fall surprised economists who had expected orders to rise.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"We expected a hefty rebound after the blizzards depressed core orders in January," said Ian Shepherdson of High Frequency Economics.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;But little news about how the fighting in Libya could be resolved, and of the progress in Japan's nuclear emergency, also dulled trading.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"The market didn't move much in either direction, as geopolitically there really has been no change, Libya and Japan still dominate market moves," said BMO Capital Markets.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;&lt;Center /&gt;&lt;b&gt;&lt;i&gt;Copyright AFP (Agence France-Presse), 2011&lt;/b&gt;&lt;/i&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/pics2011/mar/Oil_Fields_404.jpg" width="400" height="291" />NEW YORK: Crude oil prices were little-changed on Thursday as Japan's turn toward economic recovery and ongoing fighting in Libya gave few new signals to traders, while US economic data disappointed bulls.</p>
<p class="MsoPlainText">On New York's Nymex exchange a barrel of West Texas Intermediate for May delivery pared 15 cents to $105.60.</p>
<p class="MsoPlainText">In London, the benchmark Brent North Sea crude added 15 cents to $115.72.</p>
<p class="MsoPlainText">"We ran into some profit taking," said John Kilduff of Again Capital.</p>
<p class="MsoPlainText">"What was haunting the market all day was the durable goods report that was disappointing and bearish."</p>
<p class="MsoPlainText">US government figures for February showed a 0.9 percent drop in factory orders, mainly due to lower demand for machinery, a barometer of economic growth, and for defence equipment.</p>
<p class="MsoPlainText">The fall surprised economists who had expected orders to rise.</p>
<p class="MsoPlainText">"We expected a hefty rebound after the blizzards depressed core orders in January," said Ian Shepherdson of High Frequency Economics.</p>
<p class="MsoPlainText">But little news about how the fighting in Libya could be resolved, and of the progress in Japan's nuclear emergency, also dulled trading.</p>
<p class="MsoPlainText">"The market didn't move much in either direction, as geopolitically there really has been no change, Libya and Japan still dominate market moves," said BMO Capital Markets.</p>
<p class="MsoPlainText"><Center /><b><i>Copyright AFP (Agence France-Presse), 2011</b></i></center></p>
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      <category>Markets</category>
      <guid>https://www.brecorder.com/news/8579</guid>
      <pubDate>Thu, 24 Mar 2011 22:12:19 +0500</pubDate>
      <author>none@none.com (Syed Murtaza Gheblehzadeh)</author>
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