  Oil prices down as works to restart British pipeline begin January 17, 2013 - 10:54 AMT PanARMENIAN.Net - Oil prices fell in Asian trade Thursday, Jan 17, on profit-taking and the restarting of a British pipeline but an attack by militants on an Algerian gas field kept prices supported, according to AFP. New York's main contract, light sweet crude for delivery in February shed 17 cents to $94.07 a barrel after the contract rose to its highest levels since September on data showing strong U.S. demand. A report by the U.S. Energy Administration on Wednesday said oil stockpiles dropped by one million barrels in the week to January 11. Analysts had forecast a build of 2.1 million barrels. Brent North Sea crude for March delivery was down 94 cents to $109.67 in volatile trading that saw prices see-sawing. The February contract expired on Wednesday. Analysts said oil prices were supported by rising geopolitical concerns after gunmen killed two people and took 41 Western hostages Wednesday in an attack on an Algerian gas field.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Freedom House: “Why are there no Armenians in Nagorno Karabakh?”  Freedom House has published a report summary titled “Why are there no Armenians in Nagorno Karabakh?”Armenia says wants expanded transport, energy connectivity Pashinyan says Armenia is interested in the expansion of connectivity in transport, energy, telecommunications and other directions.Aliyev: Change in Armenia’s Constitution key for singing peace deal Ilham Aliyev has declared that most important condition for signing a peace agreement is for Armenia to change its Constitution.U.S. sees “extraordinary” opportunity for peace between Armenia, Azerbaijan U.S. Secretary of State Antony Blinken believes there is an “extraordinary” opportunity to reach a peace agreement between Armenia and Azerbaijan. |
