Asia
Tuesday, 23 October 2012 11:44
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SINGAPORE: Crude turned mixed in Asia on Tuesday as traders searched for bargains while US corporate earnings disappointed, analysts said.
New York's main contract, light sweet crude for delivery in December, added 18 cents to $88.83 in the afternoon while Brent North Sea crude for December delivery fell 18 cents to $109.26.
Crude markets were weighed by worries over the US economy, with traders "bracing themselves for a continuation of last week's slew of weak earnings from the likes of Google, McDonald's and IBM", IG Markets said in a report.
"There is still a bearish mood over the corporate earnings season with so many misses among blue-chip US stocks," it added.
Caterpillar, the world's biggest maker of construction and mining equipment, late Monday also cut its sales outlook, weighing down Wall Street and crude markets.
The company, considered a bellwether of the global economy, cut its profit and sales forecast for full-year 2012, suggesting a ...
SINGAPORE: Brent futures held steady above $109 as investors judged the previous session's fall in prices to their lowest in nearly three weeks as an opportunity to buy, with simmering tensions in the Middle East providing additional support.
Asian shares, the euro and base metals all recovered on renewed interest for riskier assets as better data from the United States and Europe revived hopes the global economy is not worsening further.
For oil, intensifying violence in Lebanon ...
NEW DELHI: India's diesel demand rose at its slowest pace this year in September, after the government hiked prices by 14 percent, while overall product sales edged up just 2.8 percent on a year ago, latest government data showed on Monday.
Diesel consumption, which makes up over a third of local fuel sales, increased 7.5 percent in September, the lowest rise since December, to 4.94 million tonnes, after subsidies were cut for the first time in ...
SINGAPORE: Crude rebounded in Asia on Tuesday as traders returned to the market after prices plunged on oil demand fears, analysts said.
New York's main contract, light sweet crude for delivery in December, added 29 cents to $88.94 and Brent North Sea crude for December delivery gained 29 cents to $109.73.
Crude markets were recovering after taking "a battering from weak US corporate earnings and weaker sentiment about the global economic recovery," said Justin Harper, market strategist ...
SINGAPORE: Brent crude edged up towards $111 a barrel on Monday after a four-day decline spurred by worries over a fragile global economy, with supply risks supporting prices as violence in the Middle East intensified.
Brent lost 4 percent last week and may stretch losses to a second straight month in October amid global economic uncertainty. But growing violence in parts of the Middle East, which supplies a third of the world's oil, has helped counter ...
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