Tuesday, 09 October 2012 12:29
Posted by Imaduddin
SINGAPORE: Brent crude futures rose towards $113 a barrel on Tuesday after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand.
Turkish President Abdullah Gul said on Monday that the worst case scenarios between his country and Syria are now playing out, fuelling concerns that the 18-month old conflict in Syria may spread to other countries in the region.
"Right now the market is concerned about the continuing conflict between Syria and Turkey, and the worry is that if it escalates, it may disrupt supplies," said Ker Chung Yang, senior investment analyst at Phillip Futures in Singapore.
Front-month Brent futures had risen 89 cents to $112.71 per barrel by 0618 GMT. US crude gained 85 cents to $90.18, also rebounding after two consecutive sessions of declines.
Brent's premium to US crude jumped to $22.5 per barrel, the most since Oct. ...
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SINGAPORE: Brent crude futures rose towards $113 a barrel on Tuesday after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand.
Turkish President Abdullah Gul said on Monday that the worst case scenarios between his country and Syria are now playing out, fuelling concerns that the 18-month old conflict in Syria may spread to other countries in the region.
"Right now the market is concerned about the continuing conflict between Syria and Turkey, and the worry is that if it escalates, it may disrupt supplies," said Ker Chung Yang, senior investment analyst at Phillip Futures in Singapore.
Front-month Brent futures had risen 89 cents to $112.71 per barrel by 0618 GMT. US crude gained 85 cents to $90.18, also rebounding after two consecutive sessions of declines.
Brent's premium to US crude jumped to $22.5 per barrel, the most since Oct. ...
DUBAI: High oil prices will support economic expansion in the Middle East and North Africa in 2012-2013 as importers grapple with fallout from the Arab Spring uprisings and external pressure, the IMF said on Monday.
The MENA region covered by the International Monetary Fund, which stretches from Iran to Mauritania, is expected to grow at 5.3 percent in 2012, compared with 3.3 percent last year, the IMF said in its annual World Economic Outlook.
Oil exporters will ...
SINGAPORE: Brent crude futures rose towards $113 a barrel on Tuesday after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand.
Turkish President Abdullah Gul said on Monday that the worst case scenarios between his country and Syria are now playing out, fuelling concerns that the 18-month old conflict in Syria may spread to other countries in the region.
"Right now the market ...
HANOI: Vietnam is projected to produce 16.18 million tonnes, or 325,000 barrels per day of crude oil this year, beating an initial target by more than 2 percent, after putting new wells in operation, state oil and gas group Petrovietnam said on Monday.
Three wells off Vietnam's coasts, another project in Russia and a fifth well in Venezuela have started production in the January-September period, adding to annual output this year, the Hanoi-based group said in ...
