Oil gained for a third day in New York after reports signaled fuel demand is increasing amid an economic recovery in the U.S., the world’s biggest crude user.
Futures climbed as much as 0.6 percent after closing at the highest price in a week yesterday. U.S. home sales and durable- goods orders beat forecasts in May, while gasoline demand rose last week, separate reports showed. Brent crude advanced a fourth day in London as a strike by Norwegian energy workers over pensions halted 15 percent of the country’s oil output.
“We’ve had some good numbers out of the U.S. and I think that’s positive,” said Jonathan Barratt, the chief executive officer of Barratt’s Bulletin, a commodity-markets newsletter in Sydney. “The strike in Norway has provided a bounce to Brent. That’s a concern and will support the spread” between the European and New York contracts, he said.
RAM Ratings upgrades MRCB Southern Link's sukuk ratings
RAM Ratings has upgraded the respective long-term ratings of MRCB Southern Link Berhad’s Senior and Junior Sukuk to BBB3 and BB1 (both from C3). Concurrently, the ratings have been put on Rating Watc
Malaysian Inflation Rises To 1.8% In May
Malaysia's consumer price inflation increased in May, data released by the Department of Statistics showed Wednesday. Economists had forecast inflation to stay unchanged.
Inflation as pe
U.K. Stocks Are Little Changed Before Fed Statement
U.K. stocks were little changed, erasing earlier losses, as investors awaited the outcome of a Federal Reserve policy meeting for signals about when the central bank will scale back stimulus measures
Sensex trading flat; Power, IT stocks trip
Indian markets were trading marginally in the red due to selling by funds and retail investors in select stocks owing to weak global cues.