Global oil prices advanced above $72 a barrel in Asian trade Monday mainly on reports of increase in energy demand amid dollar recovery. Light sweet crude for November delivery was seen trading at $72.54 a barrel at 12.00 noon while Brent crude was at $70.41 a barrel at the same time.

The dollar, which has
plunged in recent weeks, ticked up to 90.12 yen from 89.70 yen. The
euro was lower at $1.4702 from $1.4725.

Crude oil rose for a third day on speculation fuel demand will increase
amid signs the global economy is emerging from recession.

Oil prices also got a boost from Singapore’s increased 2009 economic
forecast, strengthening a regional recovery. U.S. equities reached
their highest in a year Oct. 9, fanning hope world energy consumption
will accelerate.

Oil added 8 cents to $71.77 a barrel on Oct. 9, the highest settlement
since Sept. 18, after the International Energy Agency upgraded its 2010
demand forecast for a third month, citing higher-than-expected
consumption in Asia and the Americas.

Oil has traded about $5 on either side of $70 a barrel since August as
traders weighed the prospects for a demand bounce against concern over
ample supply.

U.S. stockpiles of distillate fuel, including heating oil and diesel,
are at their highest since January 1983, according to Energy Department
data. Gasoline inventories climbed 2.94 million barrels to 214.4
million as refiners boosted output, the department said Oct. 7.

Source: Commodity Online

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• Oil climbs above $ 72 in Asian trade

    Global oil prices advanced above $72 a barrel in Asian trade Monday mainly on reports of increase in energy demand amid dollar recovery. Light sweet crude for November delivery was seen trading at $72.54 a barrel at 12.00 noon while Brent crude was at $70.41 a barrel at the same

• Oil price rises to $ 82 in Asian trade

    World oil prices advanced near $82 a barrel in Asian trade Monday mainly on a weak dollar amid improved energy demand. Light sweet crude for April delivery was seen trading at $82.00 a barrel at 11.30 a.m Singapore time while Brent crude was at $80.41 a barrel at the same

• Oil dips below 76 U.S. dollars in Asian trade

    Global oil prices dropped below $76 a barrel in Asian trade Friday mainly on a US report showed dipping fuel demand. Light sweet crude for January delivery was seen trading at $75.92 a barrel at 11.30 a.m Singapore time while Brent crude was at $77.81 a barrel at the same

• Oil edges above 71 dollars in Asian trade

    World oil prices edged above $71 a barrel in Asian trade Thursday as recent slide in prices prompted traders to invest more in black gold. Light sweet crude for delivery in January was seen trading at $71.08 a barrel at 11.30 a.m Singapore time while Brent crude was at $72.81

• Oil will remain even after the steady rise over night

    Oil prices remained steady in Asian trade Thursday after an overnight surge in which it settled the highest in more than one year. Crude oil for December delivery traded at $81.31 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 12.00 noon Singapore time. Brent crude for

• Oil will remain even after the steady rise over night

    Oil prices remained steady in Asian trade Thursday after an overnight surge in which it settled the highest in more than one year. Crude oil for December delivery traded at $81.31 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 12.00 noon Singapore time. Brent crude for

• Oil will remain even after the steady rise over night

    Oil prices remained steady in Asian trade Thursday after an overnight surge in which it settled the highest in more than one year. Crude oil for December delivery traded at $81.31 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 12.00 noon Singapore time. Brent crude for

• Oil will remain even after the steady rise over night

    Oil prices remained steady in Asian trade Thursday after an overnight surge in which it settled the highest in more than one year. Crude oil for December delivery traded at $81.31 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 12.00 noon Singapore time. Brent crude for

• Oil stays below $ 79 in Asian trade

    Global oil prices remained below $79 a barrel in Asian trade Tuesday after the dollar strengthened on European sovereign risk worries. Light sweet crude for April delivery was seen trading at $78.83 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 77.04 a barrel at the

• Oil remains above 73 U.S. dollars in Asian trade

    Global oil prices remained steady above $73 a barrel in Asian trade Monday on hopes of increase in energy demand. Light sweet crude for January delivery was seen trading at $73.35 a barrel at 11.00 a.m Singapore time while Brent crude was at $ 74.10 a barrel at the same

• Oil stays below 73 dollars in Asian trade

    Global oil prices remained below $73 a barrel in Asian trade Monday mainly on concerns about dipping energy demand. Light sweet crude for delivery in March delivery was seen trading at $72.79 a barrel at11.00 a.m Singapore time while Brent crude was at $71.44 a barrel at the same time.

• Remianen oil below 78 dollars in Asian trade

    Global oil prices remained below $78 a barrel in Asian trade Thursday as the market awaits a crucial energy report from the US. Light sweet crude for March delivery was seen trading at $77.61 a barrel at 11.30 a.m while Brent crude was at $76.10 a barrel at the same

• Oil will remain stable in Asian trade

    Global oil prices remained steady in Asian trade Wednesday after advanced above $78 a barrel overnight. Light sweet crude for January delivery was seen trading at $78.31 a barrel at 11.00 a.m Singapore time while Brent crude was at $79.41 a barrel at the same time

• Oil stays below $ 70 in Asian trade

    Global oil prices eased further in Asian trade Monday, for the ninth day in succession, amid concerns about the level of US demand and a stronger dollar. Light sweet crude for January delivery was seen trading at $69.42 a barrel at 11.30 a.m Singapore time after hitting as low as

• Oil Trend Line May Signal Plunge, said VTB: Technical Analysis

    Crude oil may start a slide below $60 a barrel should prices break through a supportive line connecting the lowest points of the last 12 months, according to technical analysis from VTB Capital. Crude traded in New York fell the most in a week yesterday, nearing its one-year trend-line at about