Oil prices rise amid tensions between Turkey, SyriaOctober 11, 2012 - 10:15 AMT PanARMENIAN.Net - Oil prices rose Thursday, Oct 11, as growing tensions between Turkey and Syria caused worries about the reliability of Middle East crude supplies, The Associated Press reports. Benchmark oil for November delivery was up 36 cents to $91.61 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.14 to finish at $91.25 per barrel on the Nymex on Wednesday after some mixed economic signals. Brent crude, used to price international varieties of oil, rose 57 cents to $113.75 on the ICE Futures Exchange in London. Turkish jets on Wednesday forced a Syrian passenger plane to land at Ankara airport on suspicion that it might be carrying weapons or other military equipment to support the regime of President Bashar Assad in its civil war against Syrian rebels. Escalating tensions between the two former allies are "one of the things that are keeping oil prices somewhat firm to stronger," said Ric Spooner, chief market analyst at CMC Markets in Sydney. Many observers fear the civil war in Syria could grow into a wider regional conflict that could threaten oil supplies from Middle East producers. The Middle East and North Africa account for about a third of global oil production. 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 | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |