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Oil market mixed amid weak Chinese data

Global oil prices diverged on Monday as dealers digested news that Chinese manufacturing activity shrank in March to an eight-month low. New York's main contract, West Texas Intermediate (WTI) for delivery in May delivery, firmed 18 cents to $99.64 a barrel. Brent North Sea crude for May dipped seven cents to $106.85 a barrel, from Friday's closing level.

Oil prices higher on Ukraine tensions before weekend

Global oil prices pushed modestly higher Friday on tensions in Ukraine, but gains were tempered by the dollar's continued strength. New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, added 56 cents from Thursday's close to $99.46 a barrel. Brent North Sea crude for May gained 47 cents to $106.92 per barrel. "The oil market is being driven higher by increased fears of a disruption in crude supplies following the expansion of US sanctions against Russia," said analysts at London-based brokerage PVM.

Oil rises above $99 a barrel after US, EU expand sanctions against Russia

The price of oil rose above US$99 a barrel Friday as the United States and the European Union expanded sanctions against Russia and warned of possible penalties against its energy industry. Benchmark West Texas Intermediate crude for May delivery rose 56 cents at settle at US$99.46 a barrel on the New York Mercantile Exchange. The day before, it had dropped 27 cents.

Oil prices higher on Ukraine tensions before weekend

Global oil prices pushed modestly higher Friday on tensions in Ukraine, but gains were tempered by the dollar's continued strength. New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, added 56 cents from Thursday's close to $99.46 a barrel. Brent North Sea crude for May gained 47 cents to $106.92 per barrel. "The oil market is being driven higher by increased fears of a disruption in crude supplies following the expansion of US sanctions against Russia," said analysts at London-based brokerage PVM.

Oil prices higher on Ukraine tensions before weekend

Global oil prices pushed modestly higher Friday on tensions in Ukraine, but gains were tempered by the dollar's continued strength. New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, added 56 cents from Thursday's close to $99.46 a barrel. Brent North Sea crude for May gained 47 cents to $106.92 per barrel. "The oil market is being driven higher by increased fears of a disruption in crude supplies following the expansion of US sanctions against Russia," said analysts at London-based brokerage PVM.

Oil slips on easing Ukraine tensions, strong dollar

Global oil prices dipped Thursday, hit by easing geopolitical tensions over Ukraine, and also by the strong dollar after the US Federal Reserve hinted at hiking interest rates soon. Brent North Sea crude for May sank to $105.60 in early morning trade, touching the lowest level since February. It later stood at $105.73, down 12 cents from Wednesday's closing level. New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, dipped 29 cents to $100.08 a barrel.

Crude prices rise in Asian trade

Oil prices rose in Asian trade Thursday after stockpiles declined at a key US trading hub, indicating stronger demand, and on news of a major pipeline expansion in the United States. New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 13 cents to $100.50 in mid-morning trade and Brent North Sea crude for May gained 29 cents to $106.14. The US Department of Energy (DoE) report showed supplies at the Cushing, Oklahoma trading hub fell by 200,000 barrels to 29.8 million.

Crude prices rise in Asian trade

Oil prices rose in Asian trade Thursday after stockpiles declined at a key US trading hub, indicating stronger demand, and on news of a major pipeline expansion in the United States. New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 38 cents to $100.75 in afternoon trade and Brent North Sea crude for May gained 30 cents to $106.15. The US Department of Energy (DoE) report showed supplies at the Cushing, Oklahoma trading hub fell by 200,000 barrels to 29.8 million.

Oil rises above US$100 as Energy Department data shows fuel demand improving

The price of oil rose above US$100 a barrel for the first time in a week Wednesday on signs of increased demand for petroleum products. Benchmark West Texas Intermediate crude for April delivery gained 67 cents to close at US$100.37 a barrel on the New York Mercantile Exchange. The April contract expires Thursday and the more heavily-traded May contract rose 29 cents to US$99.17. The Energy Department said that demand for gasoline rose 1.5 per cent over the four-week period ended March 14, compared with the same period last year.

Crude prices ease in Asia

Oil prices eased in Asian trade Wednesday as investors locked in profits after recent sharp gains while keeping a close eye on international tensions over Russia's absorption of Ukraine's Crimea region. New York's main contract, West Texas Intermediate (WTI) for April delivery, was down 25 cents to $99.45 in afternoon trade, and Brent North Sea crude dropped two cents to $106.77 for its May contract.
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