LONDON: Oil edged up from a more than two-year low to near US$95 (RM311) a barrel yesterday as a slightly better-than-expected Chinese factory survey countered worries of an economic slowdown in the world’s No. 2 oil consumer and ample supplies.
Concern over growing oil supply despite conflict in the Middle East and a stronger dollar pushed global benchmark Brent to its lowest since June 2012 on Tuesday, and the same factors are likely to keep a lid on any price recovery.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
