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Crude prices rise in Asia after ECB rate cuts SINGAPORE: Oil prices rose in Asian trade Friday after the European Central Bank (ECB) announced an unprecedented cut in interest rates in a bid to spur economic growth.US benchmark, West Texas Intermediate (WTI) for delivery in July gained three cents to $102.51 a barrel while Brent North Sea crude for July was up eight cents at $108.87 in afternoon trade."Crude prices look solid and likely to stay above their previous close as investors digest the ECB announcement," Kelly Teoh, managing director at IR Resources in Bangkok told AFP."Europe's better-than-expected economic data and the interest rate cut means Brent will hold up," Teoh said.The ECB on Thursday slashed its deposit rate to -0.10 percent. This means banks will be charged for leaving funds at the ECB in the hope they might lend it on to businesses and consumers instead.It also cut its lending rate to a record low of 0.15 percent ...
Crude prices mixed in Asia after ECB rate cuts SINGAPORE: Oil prices were mixed in Asian trade Friday after the European Central Bank (ECB) announced an unprecedented cut in interest rates, while tensions between Ukraine and Russia look to be easing.US benchmark, West Texas Intermediate (WTI) for delivery in July eased one cent to $102.47 a barrel while Brent North Sea crude for July was up 10 cents at $108.89."With geopolitical tensions out of the way and the dollar fluctuating less, it's not surprising ...
Hong Kong's main share index ends lower in weak volumes HONG KONG: Hong Kong's main share index was dragged lower on Thursday by heavyweights Tencent and HSBC Holdings, though H-shares rose slightly lifted by auto and insurance companies. The Hang Seng Index closed down 0.2 percent at 23,109.66 points.But the China Enterprises Index of the leading offshore Chinese listings in Hong Kong rose 0.5 percent. Bourse volume remained below 20-day average for a second day. Carmakers led H-share gains. Dongfeng Motor Group surged 4.2 percent ...
Middle East Crude: Steady, Japan offers to sell Khafji SINGAPORE: Middle Eastern crude held steady on Thursday as refiners and traders awaited the latest official selling prices (OSPs), with Japan's offer to sell oil from its strategic reserves marking the only key activity in the market.Asian buyers are awaiting OSPs from top producers to finalise their loading plans for August and gauge the demand outlook for the month.The OSPs so far, including those by top exporter Saudi Arabia, have come at higher levels than ...
Brent hits 3-week low of $108 as Ukraine tensions ease SINGAPORE: Brent crude slipped to a three-week low at $108 a barrel on Thursday as tensions over Ukraine cooled, while ample supply in top oil consumer United States also dragged down prices. News that Ukraine's President-elect and western leaders were working on a peace plan to end violence in the east of the country helped allay concerns that a conflict in the region, a main gas supply route to Europe from Russia, could disrupt oil ...

 





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