World oil prices remained near $82 a barrel in Asian trade Wednesday after rebounding from heavy losses overnight. Light sweet crude for April delivery was seen trading at $81.84 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 80.64 a barrel at the same time.

Analysts attributed oil’s upward trends to drop in dollar and
speculations that OPEC would refrain from raising production. A
declining dollar bolsters the investment appeal of commodities.

The dollar was little changed against the 16-nation euro after falling
0.7 percent yesterday to $1.3766 in New York.

Oil also rose on the back of US Fed’s decision to kept interest rates on
hold. The Federal Reserve on Tuesday maintained record low interest
rates in the hope of stimulating a still fragile US economic recovery,
dogged by high unemployment and tight credit.

On Tuesday, April delivery rallied above $82 per barrel, before ending
the day at $81.70, up $1.90 from Monday’s closing level while London’s
Brent North Sea crude for April delivery was up $1.13 to close at
$79.02.

Oil also won ground amid concerns about US energy demand and possible
Chinese moves to cool its booming economy.

US Energy Department is scheduled to release its Weekly Petroleum Status
Report later Wednesday.

Source: Commodity Online

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• 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 smooths on increase in U.S. inventories

    World oil prices remained below $80 a barrel in Asian trade Wednesday after a US report showed increase in crude inventories. New York’s main futures contract, light sweet crude for April delivery was seen trading at $79.49 a barrel at 11.30 a.m Singapore time while Brent crude was at $

• Oil recovery easier in Asian trade as dollar itself

    World oil prices eased in Asian trade Thursday, after an overnight surge on OPEC move, as the dollar recovered against major currencies. Analysts said the black gold fell for the for the first time in three days as a rise in the dollar caused investors to sell contracts to lock

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• Oil extends fall in Asia, dollar rises

    Global oil prices extended falls in Asian trade Friday as the dollar continued to scale high against major currencies. Light sweet crude for April delivery was seen trading at $81.84 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 81.14 a barrel at the same time.

• Oil stays below 78 dollars in Asian trade

    World oil prices remained below $78 a barrel in Asian trade Tuesday ahead of a crucial US Energy department data. Light sweet crude for January delivery was seen trading at $77.52 a barrel at 12.00 noon Singapore time while Brent crude was at $77.55 a barrel at the same time.

• Oil edges up to about $ 79 in Asian trade

    Global oil prices edged higher in Asian trade Wednesday as the dollar eased while reports of decline in US stockpiles also helped. Light sweet crude for April delivery was seen trading at $79.32 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 77.68 a barrel at

• Oil recovers in Asia U.S. dollars Dips

    Global oil prices recovered in Asian trade Tuesday as the dollar weakened increasing the appeal of commodities as an alternative investment. Light sweet crude for February delivery was seen trading at $78.41 a barrel at 12.00 noon Singapore time while Brent crude was at $77.15 a barrel at the same

• Oil recovers in Asia U.S. dollars Dips

    Global oil prices recovered in Asian trade Tuesday as the dollar weakened increasing the appeal of commodities as an alternative investment. Light sweet crude for February delivery was seen trading at $78.41 a barrel at 12.00 noon Singapore time while Brent crude was at $77.15 a barrel at the same

• Oil edges up to about $ 78 in Asian trade

    Global oil prices advanced above $78 a barrel in Asian trade Monday after edged down last week on strengthening dollar and concerns over sustainable economic recovery.