BANGKOK — Oil prices rose above $99 a barrel Friday in Asia after the U.S. Federal Reserve announced a plan to jolt the U.S. economy and unrest in the Middle East heightened concerns about supply.
Benchmark oil for October delivery was up 95 cents at $99.26 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract closed at $98.31, up $1.30, on Thursday.
Brent crude was up 77 cents at $116.62 a barrel on the ICE futures exchange in London.
The Fed said it will spend $40 billion a month to buy mortgaged-back securities for an indefinite period. The purchases are intended to lower long-term interest rates to spur borrowing and spending.
The Fed also extended a plan to keep short-term interest rates at record-low levels through to mid-2015, as it attempts to boost an economy it says is too weak to reduce high unemployment.
Expectations of action by the Fed, as well as the European Central Bank and China's government, have balanced gloomy economic news and kept oil in a narrow range the past few weeks.
Oil analyst Stephen Schork said in a commentary that the Fed decision, was tantamount to "flooding the market with dollars." Because oil is traded in dollars, holders of currencies stronger than the dollar would buy it, causing its value to go up.
Traders on Friday also kept a close eye on unfolding unrest in the oil-rich Middle East.
Protesters stormed the U.S. Embassy compound in Yemen's capital Thursday. Ongoing clashes have been taking place around the U.S. mission in Cairo, and the U.S. ambassador to Libya was killed Tuesday.
In other Nymex trading, gasoline was up 1.9 cents at $2.981 a gallon and heating oil added 1 cent to $3.221 a gallon. Natural gas fell 1.7 cents to $3.02 per 1,000 cubic feet.
Dear Sir/Madam,How a nice day! The Chinese traditional New Year is coming. We will have a vacation from Jan.26 to February 4th, lf you are interested in our product, please don't hesitate to contact us. Our contact information is as following:Email: sales@topoilpurifier.comMob:+86 13983391036 (wehca
Series ZYD-M Double-Stage Vacuum Transformer Oil Purification Systems is used for transformer oil dehydration and transformer oil degasification as well as other electrical insulating liquids such as silicone fluids with modern technique. The ZYD-M Process is able to increase and maintain the oil's
In research facilities, maintaining accurate fuel quality control is of utmost importance. To ensure the smooth operation of various processes, it is crucial to have a reliable method for testing the density of oil. This is where oil density testers come into play. In this article, we will explore t
In a factory setting, machinery maintenance plays a vital role in ensuring smooth operations and preventing costly breakdowns. One effective way to optimize maintenance practices is by incorporating oil detectors into the maintenance routine. The article explores the various benefits of using oil de
Construction sites are busy and hazardous environments. With heavy machinery constantly in use, the risk of fire is a constant concern. To protect both personnel and equipment, it is crucial to have effective fire resistance oil purification systems in place. These systems play a vital role in maint
Water plays a critical role in oil testers when it comes to preventive maintenance in warehouses. In fact, it is of utmost importance to understand the significance of water in these devices and the best practices for its usage. The title of this article, "The Importance of Water in Oil Testers for
Construction site equipment is subjected to harsh conditions and heavy usage, making regular maintenance and care essential. One crucial aspect of equipment maintenance is the proper filtration of lubricating oil. In this article, we will delve into the significance of lubricating oil filtration mac
Transformer oil degasification is a crucial process in workshops that deal with transformers. The importance of using degasifiers for this purpose cannot be overstated. In this article, we will delve into the various benefits of transformer oil degasification and explore the significant role that de
Fuel oil filtration systems have become essential for heavy equipment maintenance due to the numerous benefits they offer. These advanced filtration systems not only improve the performance and efficiency of the equipment but also lead to significant cost savings and increased longevity. Additionall
Are you in the market for a lubricant oil purifier for your warehouse? Choosing the right one can make a significant difference in the efficiency and longevity of your equipment. With so many options available, it can be overwhelming to know where to start. This article will guide you through the fa
Chongqing TOP Oil Purifier Co.,LTD.
Located at Chongqing city--a southwest electromechanical manufacturing center as well as national municipality, Chongqing TOP is a professional leading manufacturer and supplier of oil purifiers and various related testers.
