Brent rises towards $ 125 by the decline in U.S. stocks and the dollar

3/21/2012 | (Voice of Iraq) - Add Comment - SINGAPORE (Reuters) prices of futures contracts for Brent crude oil heading towards $ 125 on Wednesday after sharp losses the day before, a result of a sudden drop in U.S. inventories and a weaker dollar, offsetting the potential increase supplies from Saudi Arabia the largest exporter in the world. data showed industry fell an unexpected 1.4 million barrels in crude stocks last week, but the comments and Saudi Oil Minister that benefit the Kingdom's readiness to cover any shortfall in supply is expected to curb gains. said Ben Le Brun analyst markets has optionsXpress Express in Sydney "low inventory supports the market, but comments Arabia will limit the rise in oil prices in the short term and reduce the fears of supply problems related to Iran." By 0720 GMT, the price of contracts for Brent crude 31 cents to 124.43 dollars a barrel, after falling more of dollars in the previous session after the Saudi minister's comments. and the price of contracts for U.S. crude 58 cents to 106.65 dollars and was down more than two dollars on Tuesday. and received oil prices support after the dollar fell 0.3 percent against a basket of currencies, making commodities denominated dollar cheaper when you buy in other currencies. (numbers Halle Kandil Arab Bulletin - Edit Abdel Moneim structure - Phone 0020225783292)

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