Oil prices were mixed in Asian trade today as investors await the release of US jobs data, while severe winter weather in the country lifted the demand for heating fuel and lent support to prices.
New York’s main contract, West Texas Intermediate (WTI) crude for March delivery, eased 12 cents to $97.72 in late-morning trade, while Brent North Sea crude for March delivery rose 18 cents to $107.37.
WTI crude had at one point yesterday hit a peak of $98.83, its highest level this year, due to buoyant mood ahead of today’s jobs figures.
Kenny Kan, market analyst at CMC Markets in Singapore, said that the prices remain supported by hopes that the non-farm payrolls report will signal “an improvement of the economic outlook’’.
For more on this Click Here
The Hindu Business Line
UAE has cut up to 10 per cent of their oil exports in the last two months in accordance with the Opec agreement on output cuts, energy minister Suhail Al Mazroui said on Monday. “UAE compliance is 1
Oil prices rose on Monday to their highest in eight months after major producers said at a meeting in Vienna the global market was well on its way towards rebalancing.
The November Brent c
The Gulf Today
Beijing has limited its oil products flow and banned condensate and LNG exports to North Korea, China's Ministry of Commerce and General Administration of Customs announced late Friday.
India's crude oil production declined 1.6% to 3.02 million tonnes (mt) in August 2017 over August 2016. Crude oil output of ONGC increased 1.8% to 1.90 mt, while that of Oil India also improved 6.0%
OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said.