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Oil prices drop after weak Chinese data LONDON: Oil prices fell on Thursday after weak Chinese trada data, but losses were curbed by upbeat US demand and lingering doubts about the full resumption of Libyan exports, analysts said. New York's main contract West Texas Intermediate (WTI) for May delivery dipped nine cents to $103.51 a barrel.Brent North Sea crude for May slid 42 cents to stand at $107.56 a barrel in London late morning trade.Government data on Thursday showed Chinese imports slumped 11.3 percent year-on-year to $162.4 billion in March while exports fell 6.6 percent to $170.1 billion, resulting in a trade surplus of $7.7 billion.The numbers may raise further concerns about the health of China's economy, which has shown signs of weakness recently with a string of disappointing indicators, including on industrial production and consumer spending."The weak exports highlighted a possible further contraction in the nation's manufacturing sector ... thereby trimming demand prospects for crude oil," ...
Urals weakens in the Baltic, opening arb options LONDON: Russian Urals crude weakened in the Baltic on Wednesday due to a number of unsold cargoes while Kazakh CPC continued to strengthen due to a lack of sweet barrels.In the Platts window, Trafigura bought a cargo of Urals from Eni at dated Brent minus $1.30 a barrel, some 35 cents weaker than previous price estimates, traders said.Total bid for a cargo of CPC at dated Brent minus 40 cents, some 10 cents stronger than ...
Oil market rises on resurgent Ukraine tensions LONDON: Global oil prices advanced on Tuesday on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk.New York's West Texas Intermediate (WTI) for delivery in May won 77 cents to $101.21 per barrel. Brent North Sea crude for May gained 50 cents to $106.32 a barrel in late morning trade in London.NATO's chief on Tuesday warned Russia against further intervention in Ukraine, urging Moscow to "step back" after pro-Kremlin ...
Oil prices steady before US data LONDON: Oil prices steadied on Wednesday following a surge the day before, as traders awaited energy inventory data from the United States for demand clues regarding the world's biggest crude consumer.New York's main contract West Texas Intermediate (WTI) for delivery in May fell 16 cents to $102.40 a barrel ahead of the stockpiles figures due 1430 GMT.Brent North Sea crude for May edged up five cents to stand at $107.72.Analysts expect the US government inventories ...
Brent oil rises above $106 on renewed Ukraine tension LONDON: Brent crude rose above $106 a barrel on Tuesday as fresh unrest in eastern Ukraine heightened tension between Russia and the West, but hopes Libya would soon resume oil exports kept prices capped. The gains came amid a broad retreat in global equity markets recently and a weakening of the dollar, with investors turning to oil for exposure to global economic growth. Brent crude for May delivery was up 63 cents at $106.45 a ...


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