Energy stocks strengthened as a result of rise in crude-oil prices. April crude rose as high as $46.76 per barrel in electronic trading on Globex. They were recently up 84 cents at $46.36 a barrel. Robert Tony Nunan, an assistant general manager at Mitsubishi Corp. in Tokyo, said: With oil prices able to stage a [...]
Oil prices were mixed in Asian trade on Wednesday as the market looked for signs of demand in a weakening global economy. For more information, click here
Oil fell more than $2 to below $37 a barrel on Wednesday, tracking global equity losses and ahead of U.S. data expected to show an increase in crude stocks. For full story, click here
Oil prices were steady near $51 a barrel in Asia as investors weighed more bad economic news from the US that sparked a sell-off of crude overnight. For full story, click here
Oil prices rose above $50 a barrel in Asia as investors gained some confidence from reports that US President-elect Barack Obama has chosen an economic team to tackle what could be the worst slowdown in decades. For full story, click here
Oil bounced off a 17-month low on Wednesday in Asia as a rally in global stock markets boosted investor confidence. that the worst of a global economic slowdown and its impact on crude demand has been priced in. Gavin Wendt, head mining & resources research at consultancy Fat Prophets, said: Everybody is looking to Wall [...]
Crude oil exports to North Asia declined by 785,000 barrels per day (bpd) in Q2 from the first due to seasonal plant maintenance, while prices above $100 motivated refiners to reduce import and draw on inventories. A trader with a North Asian refiner said: Imports dropped mainly due to refinery maintenance. But a second reason is decreasing demand. For more information, [...]
OIL refiners in Asia have cut or are planning to reduce crude processing rates as margins were reduced to weakening fuel demand. For more information, click here
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