Wednesday, 22 May 2013 10:51
Posted by Parvez Jabri
SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 48 cents to $95.70 a barrel in the afternoon and Brent North Sea crude for July ...
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SINGAPORE: Oil extended its losses in Asian trade on Thursday on weak Chinese manufacturing data and a stronger dollar, analysts said.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 63 cents to $93.65 a barrel in the afternoon and Brent North Sea crude for July delivery shed 60 cents to $102.00."Oil is on the downside with the Chinese PMI (purchasing managers' index) data... people were expecting that it would be soft but not to the extent of a contraction," Kelly Teoh, market strategist at IG Markets in Singapore, told AFP.Banking giant HSBC said preliminary data showed manufacturing activity in China slowed in May for the first time in seven months, in another sign of the weakness of recovery in the world's second-largest economy.Its initial PMI for the month came in at 49.6, from a final 50.4 in April. A reading above 50 indicates growth ...
CHENNAI: Brent crude futures slipped towards $102 a barrel on Thursday as fresh data from China cast doubt on the strength of recovery in the world's second-biggest oil consumer and the dollar weighed on commodity markets.China's factory activity shrank in May, with the preliminary purchasing managers index (PMI) slipping to a seven-month low, reflecting slower local demand as well as headwinds from the United States and the European Union. "China's demand for oil will be ...
SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 48 cents to $95.70 a barrel in the afternoon and Brent North Sea crude for July ...
SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 42 cents to $95.76 a barrel and Brent North Sea crude for July delivery shed 32 ...
