Wednesday, 19 June 2013 12:35
Posted by Parvez Jabri
SINGAPORE: Oil prices turned higher in Asian trade Wednesday, as investors await the outcome of a US Federal Reserve meeting for clues on when it will begin scaling back its massive stimulus programme.New York's main contract, light sweet crude for delivery in July, was up 17 cents to $98.61 a barrel and Brent North Sea crude for August delivery added 12 cents to $106.14 in the afternoon.Markets have been in turmoil for weeks on speculation the US central bank will announce a tightening of its $85 billion-a-month asset-buying programme, known as quantitative easing."Trading is quiet today as investors are looking to the US Fed meeting for direction," Desmond Chua, market analyst at CMC Markets in Singapore, told AFP."If the US Fed decides on a more gradualist approach to tapering quantitative easing, that is likely to push oil prices up," he said.The US Fed's Federal Open Market Committee will issue a ...
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SINGAPORE: Oil prices turned higher in Asian trade Wednesday, as investors await the outcome of a US Federal Reserve meeting for clues on when it will begin scaling back its massive stimulus programme.New York's main contract, light sweet crude for delivery in July, was up 17 cents to $98.61 a barrel and Brent North Sea crude for August delivery added 12 cents to $106.14 in the afternoon.Markets have been in turmoil for weeks on speculation the US central bank will announce a tightening of its $85 billion-a-month asset-buying programme, known as quantitative easing."Trading is quiet today as investors are looking to the US Fed meeting for direction," Desmond Chua, market analyst at CMC Markets in Singapore, told AFP."If the US Fed decides on a more gradualist approach to tapering quantitative easing, that is likely to push oil prices up," he said.The US Fed's Federal Open Market Committee will issue a ...
SINGAPORE: Oil prices were mixed in Asian trade Wednesday, as investors await the outcome of a US Federal Reserve meeting for clues on when it will begin scaling back its massive stimulus programme.New York's main contract, light sweet crude for delivery in July, was down four cents to $98.40 a barrel and Brent North Sea crude for August delivery added three cents to $106.05 in morning trade.Markets have been in turmoil for weeks on speculation ...
JAKARTA:Indonesia's parliament debated measures on Monday to open the way for a jump in fuel prices after months of delay that have undermined confidence in the government and the ability of Southeast Asia's biggest economy to continue rapid growth.The price hike of 33 percent would allow the government to cut costly fuel subsidies and could give support to the struggling rupiah after the central bank scrambled last week to prop up the currency, which was ...
SINGAPORE: Oil prices eased in Asian trading hours Monday as investors took profits following last week's rally triggered by concerns over rising tensions in the Middle East, analysts said.New York's main contract, light sweet crude for delivery in July, dropped 19 cents to $97.66 a barrel while Brent North Sea crude for August delivery shed 10 cents to $105.83 in morning trade."Markets are close to a resistance level after last week's surge, and the feeling ...
SINGAPORE: Oil prices fell in line with Asian equities on Wednesday following the Bank of Japan's decision to hold off unveiling any fresh economic stimulus, analysts said.New York's main contract, light sweet crude for delivery in July dropped 83 cents to $94.55 a barrel and Brent North Sea crude for July delivery shed 53 cents to $102.43 in early afternoon trade."Inaction on the BoJ's part suggests that there may be less monetary stimulus in the ...
