Asia
Monday, 08 April 2013 11:13
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SINGAPORE: Oil prices rose in Asia on Monday, buoyed by strong Japanese equities as the market recovered from a downbeat US jobs report, analysts said.New York's main contract, light sweet crude for delivery in May added 21 cents to $92.91 a barrel and Brent North Sea crude for May delivery increased 45 cents to $104.57 in afternoon trade."The oil market is moving in sync with the Japanese stock market. Oil is also recovering from the selling that came after the US jobs report," Victor Shum, managing director at IHS Purvin and Gertz in Singapore, told AFP.Tokyo stocks soared 2.80 percent Monday as the yen plunged further following the Bank of Japan's sweeping monetary easing last week.Investors are cheering the weakening yen and its obvious impact on future corporate earnings, market watchers said.The BoJ on Thursday embarked on a new era of huge spending by releasing a flood of easy money, ...
CHENNAI: Brent crude rose towards $105 per barrel on Monday as Japan's ambitious plan to stimulate the world's third largest economy is expected to enhance liquidity in the markets, although weak US jobs data kept a lid on gains.Oil prices are expected to trade in a tight range this week ahead of a spate of economic data from China that will throw light on the pace of recovery in the world's second-biggest oil consumer and ...
BEIJING: China's state energy giant Sinopec Group envisages investing 70 billion yuan ($11.3 billion) to build the country's largest coal-to-gas project in 8-10 years to meet a rising demand for natural gas, a newspaper said on Sunday.Coal-to-gas production facilities in Zhundong in China's northwestern region of Xinjiang will have annual production capacity of 8 billion cubic metres of gas (bcm), the Xinjiang Daily said, citing Sinopec Xinjiang Energy Chemical Co Ltd, a unit of Sinopec ...
SINGAPORE: Oil prices were mixed in Asia on Friday as traders waited cautiously for the release of US jobs data for March later in the day, analysts said.New York's main contract, West Texas Intermediate light sweet crude for delivery in May, shed 13 cents to $93.13 a barrel while Brent North Sea crude for May increased seven cents to $106.41 in the afternoon.Oil prices had fallen in New York on Thursday in the wake of ...
SINGAPORE: Oil prices rose in Asia on Thursday as the market recovered after a snap reaction to data showing an unexpected surge in US inventories, analysts said.New York's main contract, light sweet crude for delivery in May gained a cent to $94.46 a barrel in the afternoon and Brent North Sea crude for May delivery added 33 cents to $107.44."Prices took a tumble after headline inventory numbers came in worse than expected," said David Lennox, ...
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