Oil gives up early gains, heading toward the lowest level in 11 years 1/6
Oil gives up early gains, heading toward the lowest level in 11 years January 6, 2016 Oil prices squandered early gains on Wednesday, down towards the lowest level in 11 years as it dispelled fears arising from the growing supply and rising global stockpiles raised concerns of tensions among the largest producers in the Middle East.
By 0613 GMT, Brent crude to $ 36.45, near its lowest level in 11 years amounted to US $ 35.98 reached in December.
Futures rose US crude to 36.08 a barrel after dropped 79 cents in the previous session.
ANZ said "continuing concerns about supply growth Bank dispelled the impact of the growing tensions in the Middle East."
It is scheduled to Alomkrikih Energy Information Administration publishes weekly data that are to follow up the market at 1530 GMT on Wednesday.
Oil markets also suffer from stress because of the strength of the dollar which meat near its highest level in a month that it reached on Tuesday as traders sought safe havens behind. http://www.iqtesaduna.com/2016/01/06/%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%8A%D8%AA%D8%AE%D9%84%D9%89-%D8%B9%D9%86-%D9%85%D9%83%D8%A7%D8%B3%D8%A8%D9%87-%D8%A7%D9%84%D9%85%D8%A8%D9%83%D8%B1%D8%A9-%D9%85%D8%AA%D8%AC%D9%87%D8%A7-%D9%86%D8%AD/