Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Brent down to $109 as US talks stall

    Brent down to $109 as US talks stall

    December 22, 2012
    Share
    Facebook Twitter LinkedIn WhatsApp

    22 December 2012, Sweetcrude, Houston – UK Brent crude oil fell toward $109 per barrel on Friday following failure of talks in Washington to avert a ‘fiscal cliff’ before year-end, stoking worries about demand from the world’s biggest oil consumer.

    Brent crude was down 80 cents to $109.40 a barrel by early Friday morning, although the front-month price was set to mark a second weekly rise. US crude futures were at $88.96, down $1.17, after slipping as low as $88.93.

    “The latest news that came out just a few hours ago has caused the broader markets to sell,” Reuters quoted IHS Purvin & Gertz managing director Victor Shum as saying.

    “There’s a view that it’s a setback for talks between the Republicans and the White House.”

    House of Representatives Speaker John Boehner faced an embarrassing setback on Thursday when he failed to unite his Republican lawmakers behind an effort designed to extract concessions from President Barack Obama in talks on the fiscal cliff.

    According to Reuters, this cast more uncertainty on the year-end budget talks aimed at preventing across-the-board tax hikes and spending cuts that could push the US economy into recession next year and hurt its fuel demand.

    Related News

    Seplat Energy earns CIPS Procurement Excellence Standard Certificate 

    IEA says it stands ready to tap emergency oil stocks, OPEC sees no need

    US EPA proposes higher biofuel blending volumes through 2027

    E-book
    Resilience Exhibition

    Latest News

    Tanker drivers suspend loading at Dangote Refinery over dispute

    June 14, 2025

    FG reiterates commitment to port automation

    June 14, 2025

    Seplat Energy earns CIPS Procurement Excellence Standard Certificate 

    June 14, 2025

    Meta signs deal for advanced geothermal power in New Mexico

    June 14, 2025

    IEA says it stands ready to tap emergency oil stocks, OPEC sees no need

    June 14, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.