Markets - Energy
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SINGAPORE: Oil rebounded in Asian trade Tuesday on bargain-hunting following an overnight decline, but analysts said economic worries in energy guzzlers US and China would continue to weigh on sentiment.New York's main contract, light sweet crude for delivery in June gained 19 cents to $95.36 a barrel and Brent North Sea crude for June delivery was up one cent to $102.83 in the afternoon."Oil has rebounded primarily because traders think it is a good buying opportunity," Victor Shum, managing director of IHS Purvin and Gertz in Singapore, told AFP."But in the short term, weak economic data from the US and China are going to put more downward pressure on prices, as opposed to the market turning bullish," he added.Oil prices fell overnight on fresh signs of economic weakness in China and the United States -- the world's largest crude consumers.A trio of Chinese economic data -- on industrial production, retail ...
LONDON: Crude prices fell below $103 a barrel on Monday weighed down by a drop to an eight-month low in oil demand in China, the world's second-largest consumer.An unexpected rise in US retail sales in April which pointed to underlying strength in the economy failed to change the market direction.China's refinery crude throughput fell 3 percent in April from March, its lowest daily rate since last September, as refineries entered maintenance season. Implied oil demand ...
LONDON: Crude prices slipped below $103 a barrel on Monday weighed by a stronger dollar and a drop to an eight-month low in oil demand in the world's second-largest consumer China.China's refinery crude throughput fell 3 percent in April from March, its lowest daily rate since last September, as refineries entered maintenance season. Implied oil demand in the country was up 3.2 percent in April from a year earlier to about 9.6 million barrels per ...
LONDON: Speculators raised their net long positions in Brent crude oil futures and options in the week to May 7, but also increased their net short positions in gasoil, data from the IntercontinentalExchange (ICE) showed on Monday.Money managers raised their net long positions in Brent by 15,294 contracts to 124,035. At the same time they increased their net short position in ICE gasoil futures and options by 2,798 contracts to 9,933.Copyright Reuters, 2013 
SINGAPORE: Brent futures slipped towards $103 a barrel on Monday as both implied oil demand and refinery crude throughput in the world's second-largest oil consumer China fell to eight-month lows, with a firm dollar also weighing on prices.China's refinery crude throughput fell 3 percent in April from March, notching its lowest daily rate since last September, as refineries entered maintenance season. Annual industrial output growth quickened to 9.3 percent in April, recovering from a seven-month ...
NEW YORK: US natural gas futures seesawed on either side of unchanged early on Friday, with a slight bias to the downside as mild, spring-like weather blanketed the country and another larger-than-expected weekly inventory build was reported a day earlier.Still, prices remain well under last week's 21-month high.A long, cold winter put a huge dent in inventories and lingering cool weather this spring led to a slow start to the injection season.But the onset of ...
LONDON: Global oil prices recoiled on Friday on profit-taking and as the dollar surged to a four-year high point against the yen, dealers said.Markets are awaiting the US federal budget figures for April, a speech from Federal Reserve chief Ben Bernanke, and a two-day Group of Seven finance meeting in Britain.Brent North Sea crude for delivery in June sank $1.42 cents to $103.05 per barrel in London afternoon deals.New York's main contract, West Texas Intermediate ...More Articles...
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