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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.

Oil steady as traders wait for results from Fed policy meeting

BANGKOK - The price of oil rose slightly Tuesday, a day after briefly touching a nine-month high, as traders awaited the start of a Federal Reserve policy meeting. Benchmark oil for July delivery rose 5 cents to US$97.82 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. On Monday, the contract fell slightly after it climbed to $98.74, its highest level since mid-September, as stock and commodity markets wait for Fed policy-makers to meet this week.

US oil price ends flat after surge to 9-month high

New York oil prices surged to a nine-month high Monday sparked by Middle East worries before pulling back to end flat for the day. With Syria dominating the start of the Group of Eight (G8) meeting of world leaders in Northern Ireland, the oil market was volatile. At the end of New York trade, the main contract, West Texas Intermediate crude for delivery in August, reached $98.74 per barrel, a level last seen in September 2012, before easing back to $97.77, down 8 cents from Friday's close.

Oil prices extend losses

Oil prices fell for a second day running on Tuesday, dragged lower by downbeat Chinese economic data that highlighted concerns about slowing growth in the world's second-biggest economy, analysts said. Brent North Sea crude for delivery in July shed $1.31 to stand at $102.64 in London midday deals. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, slid $1.13 to $94.64 a barrel.

Asian markets, dollar climb after US jobs data

Asian markets rose Monday, with the greenback climbing higher as a moderate set of jobs figures eased concerns the US Federal Reserve will soon start to row back on its huge monetary easing scheme. However, buying sentiment was tempered by another set of weak trade data out of China that adds to concerns of a slowdown in the world's number two economy. Tokyo rallied 3.01 percent by the break as the dollar clawed back some of last week's losses against the yen, while Hong Kong edged up 0.26 percent and Seoul added 0.27 percent.

Oil prices rise before US jobs data

World oil prices rose Friday on the back of the weaker dollar as dealers awaited the release of crucial US jobs data later in the day, analysts said. Brent North Sea crude for delivery in July gained 45 cents to stand at $104.06 a barrel in London midday trade. New York's main contract, West Texas Intermediate (WTI) light sweet crude for July, increased 38 cents to $95.14 a barrel. "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 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.

Asian stocks mixed after upbeat US data

Asian shares were mixed Wednesday after upbeat US economic data sent Wall Street soaring to a fresh all-time high and pushed the greenback to notch up strong gains against the yen. Trading remained volatile in Tokyo, with the Nikkei swinging between positive and negative territory before ending 0.10 percent higher at 14,326.46. Japanese stocks have made sharp intraday movements since the index plunged 7.3 percent last Thursday as investors rushed to book profits after poor Chinese manufacturing data.
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