Global oil prices eased below $72 a barrel in Asian trade Tuesday mainly on reports of growing US crude inventories.  Light sweet crude was seen trading at $71.41 a barrel at 10.30 a.m Singapore time while ICE Brent crude was up 9 cents at $73.64 a barrel at the same time.

Oil edged back Tuesday from the previous day’s three percent gains
despite the dollar’s fall to its lowest level this year helped boost it
overnight.
However, analysts said with the dollar hovering near this level there
was little new direction from the currency markets.  On Monday, oil for
September delivery rose $2.08, or 3 per cent, to $71.53 a barrel on the
New York Mercantile Exchange and Brent crude settled at $73.54 a barrel
on London’s ICE Futures Europe exchange.
Monday’s gains brought oil prices, still less than half the record high
of over $147 hit in July 2008, within sight of the 2009 high of $73.38
set in June.  The dollar index, a gauge of the greenback’s performance
against six other major currencies, stood around 77.649, little changed
from late US trade Monday when the index fell as far as 77.451, its
lowest since 29 September.

Source: Commodity Online

Search to find what you want

• Oil will remain behind the Asian trade

    Global oil prices remained steady in Asian trade Tuesday after an overnight slump due to rebounding dollar. Light sweet crude for December delivery was seen trading at $ 78.77 a barrel at 11.30 a.m Singapore time while Brent crude was at $77.34 a barrel at the same time.

• Oil below $ 80 easier in Asian trade

    World oil prices remained below $80 a barrel mark for the third day in succession on Monday mainly on profit taking by investors. Light sweet crude for December delivery was seen trading at $79.77 a barrel t 12.00 noon Singapore time while Brent crude was at $78.41 a barrel at

• 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

• Facilitates oil below $ 72 per barrel in Asia

     Global oil prices eased below $72 a barrel mark in Asian trade Thursday on reports of increase in US crude stockpiles. Light sweet crude for September delivery was seen trading at $71.39 a barrel at 12.00 noon Singapore time while Brent crude was at $74.85 a barrel on London’s ICE

• Oil facilitated further in Asian trade

    World oil prices eased further in Asian trade Tuesday on speculation that US fuel stockpiles will climb as consumption declines. Light sweet crude oil for October delivery was seen trading at $68.81 a barrel at 11.30 a.m Singapore time while Brent crude was at $67.40 a barrel at the same

• Oil May Top 200-week moving average, rising to $ 90: Technical Analysis

    Crude oil is poised to climb more than $15 a barrel to about $90 if it can breach technical resistance at its 200-week moving average, according to Citi FX technical analysts.  “We think it’s the biggest pivot point as far as the oil price goes, and it will tell us where

• Oil hovers above 77 U.S. dollars in Asian trade

    Global oil prices remained above $77 a barrel in Asian trade Tuesday mainly on weak dollar amid speculation credit losses in Dubai won’t derail the global economic recovery.

• Oil hovers near $ 75 in Asian trade

    World oil prices remained near $75 a barrel in Asian trade Tuesday mainly on strong equity markets amid dipping dollar.

• 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 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