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Oil falls to near $102 on expectations of buildup in U.S. supplies

The price of oil slipped Tuesday as expectations of a buildup in U.S. crude inventories dampened sentiment. Benchmark U.S. crude for April delivery was down 49 cents to US$102.33 a barrel at 2:55 a.m. ET in electronic trading on the New York Mercantile Exchange. The contract gained 62 cents to $102.82 on Monday. Oil rose Monday as another cold spell for the U.S. Midwest and Northeast was expected to boost demand for heating oil at a time when many refineries are undergoing seasonal maintenance.

Oil prices rebound

Oil prices rebounded on Monday from earlier losses as traders eyed supply concerns and digested a weekend meeting of the world's 20 major economies. New York's main contract, West Texas Intermediate (WTI) for delivery in April, rallied $1.12 to $103.32 a barrel. Brent North Sea crude for April added 73 cents to $110.58 a barrel in London late afternoon deals. "Oil prices are starting the new week of trading with slight gains," said Commerzbank analyst Carsten Fritsch.

Oil market slips after US energy data

Global oil prices weakened on Thursday as traders balanced solid US crude demand against news of shrinking Chinese manufacturing output. Brent North Sea crude for delivery in April slid 39 cents to $110.08 per barrel in London late afternoon trading. New York's main contract West Texas Intermediate (WTI) for March dipped six cents to $103.25 a barrel. The US government's Department of Energy (DoE) revealed Thursday that American commercial crude inventories rose 1.0 million barrels in the week ending February 14.

Oil down in Asia on weaker China manufacturing sector

Oil prices fell in Asian trade Thursday after a closely-watched index showed that China's key manufacturing sector contracted further in February to hit its lowest level in seven months. US benchmark West Texas Intermediate (WTI) for March dropped 17 cents to $103.14 in late morning trade, while Brent North Sea crude eased 56 cents to $109.91 for its April delivery. British banking giant HSBC's preliminary reading for its purchasing managers' index (PMI) for China, which tracks manufacturing activity in factories and workshops, fell to 48.3 this month.

Oil prices hit new 2014 peaks

Oil prices hit their highest levels so far this year on Wednesday on the back of US winter weather and more turmoil in oil exporters Venezuela, South Sudan and Nigeria. US prices also got a boost from the release of the minutes of the Federal Reserve's end-January policy meeting, which showed the central bank relatively bullish on the economy and a growing minority advocating early policy tightening. New York's main contract, West Texas Intermediate (WTI) for delivery in March, surged to a four-month high at $103.31 a barrel, up 88 cents from Tuesday.

Oil prices hit new 2014 peaks

Oil prices hit their highest levels so far this year on Wednesday on the back of US winter weather and more turmoil in oil exporters Venezuela, South Sudan and Nigeria. US prices also got a boost from the release of the minutes of the Federal Reserve's end-January policy meeting, which showed the central bank relatively bullish on the economy and a growing minority advocating early policy tightening. New York's main contract, West Texas Intermediate (WTI) for delivery in March, surged to a four-month high at $103.31 a barrel, up 88 cents from Tuesday.

Oil prices mixed in Asian trade

Oil was mixed in Asia on Wednesday, with extreme US weather and renewed conflict in South Sudan providing support to prices amid pressure to lock in profits from recent gains. New York's main contract West Texas Intermediate (WTI) for March gained 37 cents in afternoon trade to $102.80, while Brent North Sea crude eased 26 cents to $110.20 for its April delivery. WTI had surged $2.13 while Brent crude gained $1.28 in closing deals on Tuesday.

Oil prices mixed in Asian trade

Oil was mixed in Asia on Wednesday, with extreme US weather and renewed conflict in South Sudan providing support to prices amid pressure to lock in profits from recent gains. New York's main contract West Texas Intermediate (WTI) for March gained 29 cents in late morning trade to $102.72, while Brent North Sea crude eased 26 cents to $110.20 for its April delivery. WTI had surged $2.13 while Brent crude gained $1.28 in closing deals on Tuesday.

Oil prices down after lacklustre US stockpiles, economic data

Oil prices were down in Asian trade Friday as investors digested lacklustre US stockpiles and economic data that point towards weakening demand in the world's top crude consumer. New York's main contract, West Texas Intermediate (WTI) for March delivery, eased 15 cents to $100.20 in afternoon Asian trade. Europe's benchmark contract Brent North Sea crude for April was down eight cents at $108.44 on its first day of trading.

Oil prices mixed after lacklustre US stockpiles, economic data

Oil prices were mixed in Asian trade Friday as investors digested lacklustre US stockpiles and economic data that point towards weakening demand in the world's top oil consumer. New York's main contract, West Texas Intermediate (WTI) for March delivery, eased eight cents to $100.27 in mid-morning Asian trade. Europe's benchmark contract Brent North Sea crude for April was up four cents at $108.56 on its first day of trading.
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