Connect to share and comment

Oil rebounds on hazy prospects for Libya output boost

Global oil prices rebounded Thursday from earlier losses as dealers grew skeptical Libyan rebels were close to a deal on lifting blockades that would boost the country's oil production. New York's West Texas Intermediate (WTI) for delivery in May closed at $100.29 a barrel, up 67 cents from Wednesday. The US benchmark contract last closed above $100 on March 31. Brent North Sea crude for May climbed $1.36 to settle at $106.15 a barrel in London trade.

Oil prices rise in Asia after strong US data

Oil prices edged higher in Asian trade Thursday on robust US consumer data and concerns over supply disruptions in Libya and Nigeria, analysts said. New York's main contract, West Texas Intermediate (WTI) for May delivery, gained 12 cents to $100.38 a barrel in afternoon trade, after surging $1.07 on Wednesday. Brent North Sea crude for May gained two cents to $107.05.

Oil prices slip in Asian trade

Oil prices fell in Asia Friday owing to a stronger dollar after the head of the US Federal Reserve hinted at an interest rate rise early next year, but losses were tempered by lingering concerns about the Crimea crisis. New York's main contract, West Texas Intermediate for May delivery, tumbled 58 cents to $98.32 a barrel and Brent crude for May dipped 35 cents to $106.10.

Oil prices slip down in Asian trade

Oil prices fell in Asia Friday owing to a stronger dollar after the head of the US Federal Reserve hinted at an interest rates rise early next year, but losses were tempered by lingering concerns about the Crimea crisis. New York's main contract, West Texas Intermediate for May delivery, tumbled 33 cents to $98.57 a barrel and Brent crude dipped 18 cents to $106.27.

US oil prices rise following inventory report

Oil prices in New York rose Wednesday after a US oil inventory report showed lower supplies at a crucial trading hub. US benchmark West Texas Intermediate (WTI) for April delivery advanced 67 cents to finish trade at $100.37 a barrel on the New York Mercantile Exchange. European benchmark Brent oil for May delivery fell 94 cents to $105.85 a barrel in London.

Oil prices mixed as Ukraine fears recede

Oil prices were mixed in Asia Wednesday as fears of an immediate armed conflict in Ukraine receded, but analysts said the presence of Russian-backed troops in the Crimean peninsula continue to support prices. New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 10 cents to $103.43 in afternoon trade, while Brent North Sea crude for April eased 14 cents to $109.16. WTI fell $1.59 in New York Tuesday after Russian President Vladimir Putin declared in a news conference there was currently "no need" to send troops into Ukraine.

Oil prices mixed as Ukraine fears recede

Oil prices were mixed in Asia Wednesday as fears of an immediate armed conflict in Ukraine receded, but analysts said the presence of Russian-backed troops in the Crimean peninsula continue to support prices. New York's main contract, West Texas Intermediate (WTI) for April delivery, rose 12 cents to $103.45 in mid-morning Asian trade, while Brent North Sea crude for April eased three cents to $109.27. WTI fell $1.59 in New York Tuesday after Russian President Vladimir Putin declared in a news conference there was currently "no need" to send troops into Ukraine.

Oil drops as warmer weather, China outweigh supply data

Oil prices fell in Asia on Thursday as expectations for reduced demand due to warmer weather outweighed a smaller-than-expected increase in U.S. oil supplies. Benchmark U.S. crude for April delivery was down 31 cents to US$102.28 a barrel at 1:10 a.m. ET in electronic trading on the New York Mercantile Exchange.

Tokyo stocks close down 0.18%

Tokyo stocks closed 0.18 percent lower Thursday, giving up early gains as caution prevailed ahead of the release of crucial US jobs data, as investors looked for for clues about the state of the world's biggest economy. The benchmark Nikkei-225 index slipped 25.26 points to 14,155.12, while the Topix index of all first-section shares inched down 0.02 percent, or 0.27 points, to 1,162.37. bur-mis/hg/lto

Oil prices rise in Asian trade

Oil prices rose in Asian trade Thursday, extending gains on stronger demand for heating fuel in the United States as the country grapples with severe winter. US benchmark West Texas Intermediate (WTI) for March delivery advanced 19 cents to $97.57 in afternoon trade, while Brent North Sea crude was up four cents $106.29 a barrel for its March contract. Stockpiles at the trading hub in Cushing, Oklahoma, sank 1.5 million barrels, the Department of Energy (DoE) said, indicating strong demand and pushing prices higher.
Syndicate content