Oil slips as US-led crude oil release waits for OPEC+ response

MELBOURNE: Prices rose on Thursday with investors waiting to see how major producers respond to emergency crude releases by major consuming countries designed to cool the market, even as data pointed to healthy US fuel demand. US West Texas Intermediate (WTI) crude futures were down 11 cents on Wednesday, down 9 cents, or 0.1%, to … Read more

Coordinated reserve release eases some supply fears as oil prices fall

TOKYO: Oil prices fell on Wednesday as a US-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day’s rally ahead of the US Thanksgiving holiday. US West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.2%, to $78.38 a barrel by … Read more

Oil falls on deal expected to tap emergency crude reserves

MELBOURNE: Oil prices tumbled on Tuesday, reversing gains in the previous session, with the United States, Japan and India releasing crude stockpiles to prop up prices despite the threat of demand as the COVID-19 hit Europe. Matters have flared up. The US Department of Energy is expected to announce a loan of from the Strategic … Read more

Renewed Covid, inflation concerns in most Asian markets

Hong Kong: Asian markets fell mostly on Monday, amid fears of renewed containment measures to stem a surge in European Covid cases, adding to growing speculation that central banks should tighten monetary policy to stem a spike in inflation. Will have to accelerate The expanding deficit came as major consumers, including the United States, contemplated … Read more

Oil hits 7-week low on expectations of release of supplies, Europe Covid surge

MELBOURNE: Crude fell to a seven-week low on Monday, extending the fall after the previous session’s slide, on concerns about excess supplies by Japan as it was releasing oil reserves and worsening COVID-19 in Europe. -19 was more than demand from the situation. Brent was down 57 cents, or 0.72%, at $78.32 a barrel by … Read more

Glasgow climate agreement: India to phase out all fossil fuels, experts say

India has emerged as the country that has downplayed the level of ambition in the Glasgow Climate Pact and refused to agree to language on “phased coal and inefficient fossil fuel subsidies”. However, before India recognizes the lack of discrimination or differences in development status and questions responsibility for the current levels of emissions and … Read more

SGX Nifty down 15 points; This is what changed for the market while you were sleeping

The domestic equity market is likely to open on a negative bias in view of weak cues from global equities. Asian counterparts were trading lower in overnight trade and US stocks closed in the red. The dollar softened from the peak, while it declined. Back home, all eyes are on the listing of Paytm and … Read more

Oil falls as US gasoline stock draw raises chances of SPR release

MELBOURNE: US gasoline stocks tumbled on Wednesday after more than expected losses last week, which could add to pressure on the Biden administration to hike gasoline prices to release oil from emergency reserves. US West Texas Intermediate (WTI) crude futures fell 76 cents, or 0.9%, to $80.00 a barrel as of 0211 GMT, down 12 … Read more

Saudi Arabia’s race to attract investment is shrouded in doubt

By David Barbusia, Saeed Azhar and Yousef Saba Financial sources and analysts said Saudi Arabia could have a credibility problem if it keeps shifting target positions for foreign investment volumes as it seeks to turn its future outlook into reality. Five years after Crown Prince Mohammed bin Salman launched Vision 2030 to end the kingdom’s … Read more