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Crude down in Asia as US growth disappoints SINGAPORE: Oil prices eased in Asia Friday as revised fourth-quarter US economic growth disappointed, while dealers eyed huge federal spending cuts due to take effect, analysts said.   New York's main contract, light sweet crude for delivery in April, shed 12 cents to $91.93 a barrel in the afternoon and Brent North Sea crude for April delivery slid 33 cents to $111.05.   "Oil suffered from the lower-than-expected US fourth-quarter GDP," said Jason Hughes, head of premium client management for IG Markets Singapore.   Data Thursday showed growth in world's largest economy and oil consumer came in at 0.1 percent in October-December, better than the initial estimate of a 0.1 percent contraction but lower than expectations of 0.5 percent growth.   The slowdown reflected sharp falls in inventory building and federal government spending ahead of the January 1 "fiscal cliff" of tax hikes and huge spending cuts.   However, while the tax hikes were addressed, dealing with the spending issue ...

Brent rebounds to above $112 on Bernanke, Italy debt sale SINGAPORE: Brent crude rose above $112 a barrel on Thursday after Federal Reserve Chairman Ben Bernanke reassured markets of his commitment to economic stimulus while strong demand for Italian debt calmed worries over its political crisis.Investors also picked up Brent after the price fell to one-month lows in the previous session, although many exercised caution ahead of looming steep spending cuts in the United States that could derail its nascent economic recovery and dent fuel ...
Oil rebounds in Asia but Italy deadlock weighs SINGAPORE: Oil prices rebounded in Asia Wednesday but analysts said sentiment remains hobbled by fears that deadlock in the Italian elections could derail the eurozone's nascent recovery.Just as the eurozone's woes appeared to be easing, the results of the Italian vote, which reflected strong public sentiment against austerity measures, spooked global financial markets.New York's main contract, light sweet crude for delivery in April climbed 30 cents to $92.93 a barrel in the afternoon, while Brent ...
Oil down as Italy polls spark new eurozone fears SINGAPORE: Oil prices were down in Asia on Tuesday after inconclusive Italian national elections threatened instability in the country and to disrupt the eurozone's recovery, analysts said.New York's main contract, light sweet crude for delivery in April, dropped 65 cents to $92.46 a barrel in the afternoon and Brent North Sea crude for delivery in April shed 79 cents to $113.65."The cloudy Italian elections sent shudders across global markets... causing panic it might derail the ...
Brent hits 1-month low below $114 on Italy vote uncertainty SINGAPORE: Brent crude futures fell by more than a dollar to one-month lows below $114 a barrel on Tuesday, hit by worries over demand growth as a potential political vacuum in Italy revived fears over instability in the debt-plagued euro zone.The uncertainty in Rome, along with soft manufacturing data from China and concerns the United States may rein in its economic stimulus, are clouding the global economic outlook and could erode oil's modest price gains ...
Brent edges above $114 on firm euro; China data caps gains SINGAPORE: Brent crude wiped out early losses to trade above $114 per barrel on Monday as a firmer euro supported prices, although worries that a retreat in China's manufacturing activity would dent demand from the world's top energy consumer capped gains.Prices are expected to be bound in a tight range ahead the outcome of elections in Italy, which investors are keenly watching to gauge what the implications of that would be for euro zone cohesion ...
China raises fuel prices for first time this year SHANGHAI: China raised government-set fuel prices on Monday for the first time this year to reflect changes in global crude prices, the top economic planning body said.The benchmark price for petrol will rise 3.5 percent to 8,830 yuan ($1,416) per tonne while diesel will increase 3.8 percent to 8,010 yuan per tonne, the National Development and Reform Commission said in a statement late Sunday.Pump prices for petrol and diesel will rise by 0.22 yuan per ...


Index Closing Chg%
Arrow DJIA 17,083.80 0.02
Arrow Nasdaq 4,472.11 0.04
Arrow S&P 1,987.98 0.05
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Arrow Nikkei 15,284.42 0.29
Arrow H.Seng 24,141.50 0.71
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Foreign Debt $60.9bn
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WeeklyJuly 10, 2014
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