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Oil prices ease in Asian trade SINGAPORE: Oil prices fell in Asian trade Friday as the market awaited the release of US payrolls data amid lingering concerns over a prolonged budget stalemate, analysts said.New York's main contract, light sweet crude for delivery in April eased 25 cents to $91.31 a barrel and Brent North Sea crude for April delivery dipped 40 cents to $110.75."People are waiting for new economic data... in the United States," said Tony Nunan, risk manager at Mitsubishi Corp in Tokyo."Prices are likely to fall if the data is disappointing as the general market is weak," he told AFP.US non-farm payrolls figures are due to be released later Friday, and strong numbers would signal further economic momentum after data on Thursday showed unemployment claims falling last week to 340,000.On Wednesday payrolls firm ADP said the private sector piled on 198,000 jobs last month, better than the average of the past six months."Fewer firings ...

Oil prices down in Asian trade SINGAPORE: Oil prices were down in Asian trade Thursday, with sentiment subdued by concerns a prolonged budget stalemate in the United States could hamper recovery in the world's biggest economy.Prices had already slipped in New York after US crude stockpiles surged by more than eight times the expected amount, indicating weak demand in the country.New York's main contract, light sweet crude for delivery in April, fell 10 cents to $90.33 a barrel and Brent North ...
Brent below $111; ECB meeting, econ data in focus SINGAPORE: Brent crude futures eased to trade just under $111 per barrel on Thursday as traders eyed central bank meetings and economic data this week to get a better picture on the prospects for oil demand in the world's top consumers.The Bank of Japan kept its policy unchanged as expected, awaiting a new leader who is seen ushering in bolder measures to try to end deflation, while the European Central Bank (ECB) meets later in ...
China to make fuel pricing more sensitive to crude price changes BEIJING: China is working to revamp its fuel pricing system to allow refiners to adjust domestic prices of gasoline and diesel more swiftly in response to changes in world crude prices, a senior planning official said on Wednesday.The current system, which measures the change in the 22-day moving average cost of a basket of crude grades and has a four percent threshold for revisions, does not let domestic fuel prices respond fast enough to international ...
Japan to build LNG terminal for US shale gas imports: media TOKYO: A local government in western Japan is planning to build a liquefied natural gas terminal to import shale gas from the United States and help reduce reliance on nuclear energy, the Nikkei newspaper reported on Saturday. The government of Fukui Prefecture will work with the national government and seek cooperation from Kansai Electric Power Co, Hokuriku Electric Power Co and Osaka Gas Co on the project, the Nikkei reported without citing the source of ...
South Lanka oil exploration bidders seen unfazed by well shutdown COLOMBO: Sri Lanka kicks off a second round of bids for licenses to explore for oil and gas off its northwest coast next week, but expects bidders to be undeterred by news of an exploration well abandoned by the sole license buyer in the previous round.Sri Lanka is in the process of inviting companies to bid for licences on some of the 13 blocks in the Cauvery and Mannar Basins off its northwest coast.Saliya Wickramasuriya, ...
Brent oil still targets $110.02 SINGAPORE: A bearish target at $110.02 per barrel remains unchanged for Brent oil, as indicated by its wave pattern and a Fibonacci projection analysis.The contract is still riding on a downward wave c, unfolding towards its 100 percent Fibonacci projection level at $110.02.A Fibonacci retracement analysis on the rise from the Nov. 5, 2012 low of $104.76 to $119.17 reveals oil has cleared a support at $111.97, the 50 percent level, and the next support ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
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Foreign Debt $60.9bn
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WeeklyJuly 10, 2014
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