SINGAPORE: Crude fell on Monday, extending WTI's record discount to Brent to almost $20, as growing investor concern about a slowdown in the United States and other industrialized economies combined with rising output from top exporter Saudi (...)
BEIJING/SINGAPORE: Saudi Arabia will boost contract crude sales by 10 percent to Asia's biggest refiner Sinopec this year as the world's top oil exporter cements its share of the world's fastest growing fuel market.
Riyadh is boosting exports to (...)
LONDON: Oil retraced part of a steep four-session drop on Thursday as worries about Ireland's debt crisis eased and a sharp crude inventory drawdown in top consumer the United States propped up prices.
US December crude contract was up $1.35 or (...)
SINGAPORE: Oil dropped as much as 1.3 percent on Wednesday to the lowest price in November, as speculation mounted that China will step up efforts to cool its economy, while Irish debt jitters accelerated the fall.
US crude for December tumbled (...)
SINGAPORE: Saudi Arabia, OPEC's top oil exporter, will keep full contracted volumes of crude supply in November to six term buyers in Asia and at least two in Europe, steady with October levels and as expected by most traders, sources with refiners (...)
SINGAPORE: Kenya bought two 600,000-barrel cargoes of Abu Dhabi Murban crude for September arrival in its monthly tender at weaker differentials than last month, traders said on Friday.
European majors Shell and Total sold the cargoes at a (...)
SINGAPORE: Oil rose 0.6 percent on Friday, heading for its biggest weekly gain since May, after data showed robust US demand growth and falling inventories, while positive economic indicators lifted sentiment across markets.
Asian stocks rallied (...)
SINGAPORE: Crude prices fell below $72 on Wednesday on a slightly stronger US dollar, reversing earlier gains of as much as 0.6 percent boosted by forecasts of a second weekly fall in US inventories.
Prices tracked volatile equities in the past (...)
SINGAPORE: Oil fell as much as 1.7 percent to below $77 on Tuesday as forecasts indicated tropical storm Alex would skirt the main production region in the US Gulf of Mexico, limiting disruption there to a few precautionary shutdowns.
The price (...)
SINGAPORE: Oil slipped on Friday, heading for a weekly drop of 1.2 percent, as falling Asian equity markets tempered an early boost from indications that the first storm of the Atlantic hurricane season might be developing.
Asian stocks slid on (...)
SINGAPORE: Crude prices rose 2.2 percent on Monday to the highest since early May after China vowed to allow a flexible yuan exchange rate, raising expectations of higher petroleum imports by the world's second-largest oil user.
US crude for July (...)
SINGAPORE: Oil held steady above $75 on Tuesday as prospects for rising demand in emerging economies offset concern about the impact of Europe's debt crisis.
Spain admitted on Monday that the European financial crisis is taking a toll on the (...)
SINGAPORE: Oil fell for a second day on Tuesday to trade below $84 as forecasts for repeated increases in US inventories rekindled concerns of oversupply, while Greek debt woes also weighed.
US crude, gasoline and distillate stockpiles probably (...)
SINGAPORE: Oil pared gains on Tuesday as the dollar strengthened, with the market s attention turning to forecasts for steady US crude inventories after prices topped $75 earlier on optimism about the economy.
The US dollar rose after Australia s (...)