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Oil prices mixed as Ukraine fears recede SINGAPORE: Oil prices were mixed in Asia Wednesday as fears of an immediate armed conflict in Ukraine receded, but analysts said the presence of Russian-backed troops in the Crimean peninsula continue to support prices. New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 12 cents to $103.45 in mid-morning Asian trade, while Brent North Sea crude for April eased three cents to $109.27.WTI fell $1.59 in New York Tuesday after Russian President Vladimir Putin declared in a news conference there was currently "no need" to send troops into Ukraine. European benchmark Brent tumbled $1.90 in London.Breaking a week of silence after the ousting of Ukraine president Viktor Yanukovych, Putin denied that he had sent Russian troops to the Crimean peninsula and said the uniformed men present there were "local forces of self-defence".Western leaders as well Ukraine's interim government however insist that the troops are backed by the ...
Sinopec targets lower prices for crude in cost saving plan BEIJING: China's Sinopec Corp is seeking to buy crude oil at a lower price starting from April, trade sources said, as Asia's biggest refiner aims for savings after spending nearly $150 billion on crude shipments last year. The move comes amid a push by Beijing to make bloated state behemoths more efficient and as Sinopec attempts to restructure to add value for investors. Two weeks ago Sinopec announced it will partially privatize its marketing arm. ...
Brent holds above $111 as tensions over Ukraine crisis rise SINGAPORE: Brent crude held above $111 on Tuesday, at its highest levels since the end of last year, as tensions over Russia's military intervention in Ukraine rattled global markets and stoked fears of energy supply disruption to Europe. US oil hit a 5-1/2-month high on Monday after Russia invaded Ukraine's autonomous Crimea region at the weekend, and the United States and the European Union have threatened sanctions if Moscow does not withdraw its troops. April ...
Oil prices mixed, eyes on Ukraine crisis SINGAPORE: Oil prices were mixed in Asian trade Tuesday as investors cautiously watch events in Ukraine, with western powers threatening sanctions against Russia for its military intervention in the region.The United States said it had suspended defence cooperation with Russia and the UN Security Council began a meeting on the crisis.US benchmark West Texas Intermediate (WTI) for April delivery, eased 23 cents to $104.69 in afternoon trade on profit-taking as after hitting its highest levels ...
Oil prices surge as Ukraine mobilises army SINGAPORE: Oil prices surged in Asian trade Monday as Ukraine's Western-backed government mobilised the army with Russia poised to invade.New York's main contract, West Texas Intermediate (WTI) for April delivery, gained $1.14 to $103.73 in afternoon trade, and Brent North Sea crude for April jumped $1.62 to $110.69.Lawmakers in Moscow voted Saturday to allow President Vladimir Putin to send troops into Crimea, a predominantly Russian-speaking peninsula in the southeast of Ukraine following the ouster of ...


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