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.

On Tuesday, oil prices climbed after an industry report showed U.S.
supplies gained, raising concern that fuel demand in the biggest
energy-consuming nation may be slow to recover.

Weaker dollar also lifted commodities amid the market fretted about geopolitical tensions over Iran’s nuclear programme.

New York’s main contract, light sweet crude for January delivery, closed at $78.37 a barrel, up $1.09 from Monday.

In London, Brent North Sea crude for January delivery gained 88 cents to settle at $79.35 a barrel.

However, oil pared Tuesday’s gains after the American Petroleum
Institute reported crude inventories rose 2.89 million barrels last
week. Gasoline and distillate fuel stockpiles also climbed on a drop in
refinery utilization, the report said.

The U.S. Energy Department will release its weekly supply report later Wednesday.

Source: Commodity Online

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• Oil back above $ 74 in Asian trade

    Global oil prices reversed trends and edged above $74 a barrel in Asian trade Tuesday mainly on dollar weakness. Light sweet crude for January delivery was seen trading at $ 74.41a barrel at 12.00 noon Singapore time while Brent crude was at 76.68 a barrel at the same trime. The

• 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

• 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 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 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 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 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 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 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.

• Oil makes less than 83 dollars in Asian trade

    Global oil prices eased below $83 a barrel in early Asian trade Thursday after an overnight surge.

• Oil will fall in Asian trade

     Global oil prices eased in Asian trade Wednesday as a US report showed drop in consumer confidence and a fall in earnings by British energy major BP. Light sweet crude for September was seen trading at $66.63 a barrel at 11.30 a.m Singapore time while Brent crude for September delivery was at

• 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 advances in the vicinity of $ 80 in Asian trade

    World oil prices advanced marginally in Asian trade Wednesday mainly on a report showing drop in US stockpiles.

• Oil dips below $ 77 as a growing U.S. inventories

    Global oil prices remained below $77 a barrel in Asian trade Thursday mainly on reports of increase in US stockpiles while fuel demand dropped. Light sweet crude for January delivery was seen trading at $ 76.94 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 78.41

• Oil dips on profit-taking in Asia

    World oil prices eased marginally in Asian trade Thursday mainly on profit taking by investors from recent gains ahead of a holiday in the US. Light sweet crude for January delivery was seen trading at $77.51 a barrel at 12.00 noon Singapore time while Brent crude was at $78.05 a