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Oil prices gain ahead of Fed meet

Oil prices pushed higher for the fifth straight session Tuesday chasing a surge in the euro against the dollar ahead of the Federal Reserve's policy announcement and as worries over the Syrian conflict grew. WTI crude hit a nine-month high in New York, the contract for August delivery finishing at $98.44 a barrel, up 67 cents from Monday. In London, Brent North Sea crude for August ended at $106.02, up 55 cents.

Indonesian parliament could pave way Monday for fuel price hikes

By Kanupriya Kapoor and Jonathan Thatcher JAKARTA (Reuters) - Indonesia's parliament could pass measures on Monday paving the way for a 33 percent rise in the country's fuel prices to reduce a government subsidy bill that has cast a shadow over Southeast Asia's biggest economy.

Air NZ agrees to payout in price-fixing case

Air New Zealand on Thursday agreed to pay NZ$7.5 million ($5.9 million) to settle a long-running price-fixing case against the airline, the country's competition watchdog said. The New Zealand Commerce Commission said the High Court approved a deal under which the flag carrier agreed to the financial penalty and admitted liability in the case. The commission said Air New Zealand was the final airline to settle its air cargo cartel case, which has resulted in 11 airlines paying fines totalling NZ$45.4 since it was launched in 2008.

Oil prices retreat on China data

Oil prices fell on Monday in the wake of poorly-received Chinese economic data which offset positive US jobs numbers, analysts said. The price of Brent North Sea crude for delivery in July dropped 30 cents to $104.26 a barrel in London midday deals. New York's main contract, West Texas Intermediate for July, slipped 33 cents to $95.70 a barrel. "We attribute the current price weakness to disappointing data from China which were published at the weekend," said Commerzbank analyst Carsten Fritsch.

Oil prices rise before US jobs data

Oil prices fell on Monday in the wake of poorly-received Chinese economic data which offset positive US jobs numbers, analysts said. The price of Brent North Sea crude for delivery in July dropped 30 cents to $104.26 a barrel in London midday deals. New York's main contract, West Texas Intermediate for July, slipped 33 cents to $95.70 a barrel. "We attribute the current price weakness to disappointing data from China which were published at the weekend," said Commerzbank analyst Carsten Fritsch.

Oil prices up in Asia as weaker dollar spurs demand

Oil prices rose on Asian trade on Friday as dealers made the most of a weakening dollar as they keep an eye on the release of crucial US jobs data later in the day, analysts said. New York's main contract, West Texas Intermediate crude for delivery in July, gained 15 cents to $94.91 a barrel in the afternoon and Brent North Sea crude for July added 18 cents to $103.79. "The decline in the US dollar is giving support to oil prices," Ric Spooner, chief market analyst at CMC Markets in Sydney, told AFP.

Oil posts slight gain on U.S. economic data

BANGKOK - The price of oil rose slightly Thursday as data pointing toward an improvement in the U.S. economy raised expectations of an increase in energy demand. Benchmark oil for July delivery was up 3 cents to US$93.16 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.88 to close at $93.13 a barrel on Wednesday on concerns that the U.S. Federal Reserve may ease up on its stimulus measures and that the Wall Street rally was cooling.

Oil prices recover in Asia

Oil prices recovered in Asian trade Thursday following a drop triggered by fresh economic data that highlighted global growth concerns, analysts said. New York's main contract, light sweet crude for delivery in July added eight cents to $93.21 a barrel in the afternoon and Brent North Sea crude for July delivery increased 29 cents to $102.72. Both contracts closed almost $2 lower on Wednesday after the Organisation for Economic Cooperation and Development, which groups industrial economies, trimmed its forecast for 2013 world economic growth to 3.1 percent from 3.4 percent.

Supreme Court to decide whether Miss. can bring state lawsuit in global LCD price-fixing case

WASHINGTON - The Supreme Court will consider whether the state of Mississippi can bring a state-level lawsuit in a global LCD screen price-fixing conspiracy. The justices on Tuesday agreed to hear an appeal from state officials in their lawsuit against AU Optronics Corp. A federal jury last year found the company guilty of price-fixing on its liquid crystal display screens. Mississippi also wanted to sue in state court.

EU hits Argentina, Indonesia with bio-diesel tariffs

The European Commission moved on Tuesday to impose provisional anti-dumping duties on bio-diesel from Argentina and Indonesia which account for some 20 percent of the 12-billion-euros EU market. The Commission said it took its decision after an investigation found "illegal dumping at below market price of Argentinian and Indonesian bio-diesel on the European market that clearly hurts an EU industry." The duties were up to 10.6 percent on imports from Argentina, adding nearly 105 euros per tonne to the price, and up to 9.6 percent for Indonesia.
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