Oil Prices Retreat

@AFP

LONDON (AFP) – World oil prices dropped on Tuesday, with New York crude taking a hit from disappointing U.S. data, according to analysts.

Brent North Sea crude for delivery in September fell 29 cents to stand at $107.86 a barrel in London midday deals.

New York’s main contract, West Texas Intermediate (WTI) for delivery in September, slid one dollar to $105.94 a barrel.

“The price decline was triggered by weaker-than-expected existing home sales in the US,” said Kash Kamal, research analyst at Sucden brokerage in London. “Expectations for a further drawdown in [U.S.] crude stocks this week may support WTI near current levels.”

He added: “Brent remains relatively well supported at current levels as tensions in the Middle East continue to threaten supply, however prices have experienced some downside as concerns over slowing Chinese growth materialised.”

The National Association of Realtors on Monday said that US home sales fell 1.2 percent to an annual rate of 5.08 million in June. The average analyst estimate was for a rise to 5.28 million in June.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Donald Trump
Former President Donald Trump

Imagine this: You’re a clerk to a judge in a New York State court. You graduated from the Cardozo School of Law in 2010, and since then, you have worked as an associate in a New York law firm. For five years, you worked for the City of New York in its Special Litigation Unit handling law suits against the city. You have been the clerk to Judge Arthur Engoron since 2019, getting up in the morning and traveling by subway into Manhattan to your office in his chambers, or sitting beside him in court, advising him on cases, filings, motions – the constant flow of legal documents and questions that any judge in a big city court deals with constantly.

Keep reading...Show less
Trump Touts New Push To 'Repeal And Replace' Obamacare

The late Sen. John McCain gives thumbs down to Affordable Care Act repeal in July 2017

Photo by Library of Congress on Unsplash

Donald Trump is once again living in the past, trying to resurrect a Republican political debacle that even the Freedom Caucus has abandoned: Obamacare repeal. “The cost of Obamacare is out of control, plus, it’s not good Healthcare. I’m seriously looking at alternatives," he spewed on Truth Social on Saturday.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}