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Markets - Energy

Markets - Energy - Europe

Oil falls to $55 on China slowdown, dollar reversal LONDON: Brent crude oil fell towards $55 a barrel in choppy trading on Tuesday after the dollar firmed, adding pressure to a market grappling with signs of slowing Chinese growth and Saudi Arabian oil production close to an all-time high.The dollar reversed early losses to rise 0.25 percent against the euro, pressuring dollar-priced commodities that tend to move inversely to the U.S. currency.Brent futures for May delivery were down 49 cents at $55.43 by 1414 GMT, off an earlier high of $56.79, while U.S. crude rose 3 cents to $47.48 a barrel.Its discount to Brent narrowed to around $8 a barrel for the first time in a week.Oil prices were also under pressure from data showing factory activity in China slipped in March, adding to concerns about growth in the world's second largest economy and top oil importer. U.S. factory activity increased slightly.The Chinese data followed comments from OPEC kingpin ...

Markets - Energy - Europe

Oil prices edge higher LONDON: Oil prices edged higher Tuesday as a weaker dollar offset disappointing manufacturing data out of top energy consumer China, traders said. US benchmark West Texas Intermediate for delivery in May nudged up 11 cents to $47.56 a barrel.Brent North Sea crude for May dipped five cents to stand at $55.97 in London afternoon deals.The European single currency edged up slightly against the dollar, making crude priced in the US unit cheaper for holders of ...

Markets - Energy - Europe

Oil rebounds towards $57 as weaker dollar overshadows China slowdown LONDON: Brent crude reversed early losses to trade back towards $57 a barrel on Tuesday, as a weaker dollar overshadowed signs of slowing growth in China and Saudi Arabian oil production close to an all-time high.The dollar slipped 0.25 percent against the euro, extending losses from the previous session and providing a boost to dollar-priced commodities, which tend to move inversely to the U.S. currency.Brent futures for May delivery were trading up 64 cents at ...

Markets - Energy - Asia

Middle East Crude-Medium sours weaken SINGAPORE: Medium sour grades in the Middle East crude market weakened on Tuesday with Banoco Arab Medium and DME Oman in discounts.Bahrain's BAPCO sold a second Banoco Arab Medium cargo for May loading to SK Energy at a discount of about 5 cents a barrel to OSP, traders said, down from premiums of 13-15 cents in prior deals for this grade.DME Oman's discount to Dubai swaps also widened to about $1 as trade in Middle ...

Markets - Energy - Asia

Asia-Pacific Crude-Weaker Brent support premiums SINGAPORE: Asia-Pacific crude market held firm on Wednesday, supported by firm refining margins and a weaker Brent benchmark against Dubai.Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, was at $1.20 a barrel for May, down close to $1 from the start of the month.The prospect of tighter Vietnamese supply also supported sentiment and drove up Te Giac Trang (TGT) crude's premium, although the rise was limited by the addition of ...

Markets - Energy - Europe

Oil rebounds above $56 as weaker dollar overshadows China slowdown LONDON: Brent crude reversed early losses to rise above $56 a barrel on Tuesday, as a weaker dollar overshadowed signs of slowing growth in China and Saudi Arabian oil production close to an all-time high.The dollar slipped 0.3 percent against the euro, extending losses from the previous session and providing a boost to dollar-priced commodities, which tend to move inversely to the U.S. currency.Brent futures for May delivery were trading up 12 cents at $56.04 ...

Markets - Energy - Asia

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Tuesday following disappointing manufacturing data out of top energy consumer China, and as dealers await fresh US economic figures, analysts said. US benchmark West Texas Intermediate eased 58 cents to $46.87 while Brent fell 35 cents to $55.57 in afternoon trade. "Prices coming off slightly today may have to do with the weak flash manufacturing data coming out of China," Nicholas Teo, market analyst at CMC Markets in Singapore, ...