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US oil prices extended gains Thursday amid another drawdown(Update)

NEW YORK: U.S. oil futures surged nearly 2 percent on Wednesday as they were bolstered by a fifth weekly crude inventory drawdown and strong domestic gasoline demand amid ongoing global supply concerns over U.S. sanctions on Iran that come into force in November.

U.S. West Texas Intermediate crude for October delivery was up 31 cents, or 0.4 percent, at $71.43 a barrel by 0018 GMT, after settling up $1.27.  Front-month London Brent crude, for November delivery, was down 2 cents at $79.38, having ended up 37 cents.

Oil prices fall amid surprise growth in US crude stocks (Update)

BEIJING: Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles.

Brent crude futures had dropped 22 cents, or 0.28 percent, to $78.81 per barrel by 0042 GMT, chipping away at Tuesday's 1.26 percent gain.  U.S. West Texas Intermediate (WTI) crude fell 0.20 percent, or 14 cents, to $69.71 a barrel.

Oil price near flat as market weighs US-China trade tensions, Iran sanctions

NEW YORK: Oil prices were little changed on Monday as the market weighed deepening trade tension between the U.S. and China that is expected to dent global crude demand and potential supply tightening due to Iran sanctions.

Brent crude futures dipped 4 cents to settle at $78.05 a barrel, while U.S. West Texas Intermediate (WTI) crude utures fell 8 cents to settle at $68.91 a barrel.

Oil trades near US$69 as signs of higher supply offset Iran fears

SEOUL: Oil traded near $69 a barrel on signs of increased drilling by American producers and investor optimism that Saudi Arabia and Russia will fill in potential supply losses from Iran.

Oil prices ease as trade row clouds demand outlook

BEIJING: Global oil prices eased in early Asian trading on Monday on concerns that the United States is poised to impose additional tariffs on China, outweighing supply fears from upcoming sanctions on Iran.

Brent crude oil futures dipped 16 cents, or 0.2 percent to $77.93 a barrel by 0035 GMT.  U.S. West Texas Intermediate (WTI) futures fell 20 cents or 0.3 percent, to $68.79 a barrel.

Oil mixed as China tariff talk scotches early rally

NEW YORK: Oil prices pulled back on Friday amid concerns additional U.S. tariffs would be placed on China, trading mixed after a rally triggered by worries of more sanctions on Iran.

Brent crude however pulled back on the reports of additional tariffs, dropping 5 cents a barrel to $78.12 by 1:03 p.m. EDT. The global benchmark fell 2 percent on Thursday after rising on Wednesday to its highest since May 22 at $80.13.  U.S. West Texas Intermediate (WTI) futures were up 29 cents at $68.88 a barrel after dropping 2.5 percent on Thursday.  After a volatile week, Brent was set for a 1.6 percent weekly rise and WTI 1.6 percent.

Petronas opens new R&T centre for Latin America

BRASILIA: Petronas, through its subsidiary Petronas Lubricants International, has opened its Research and Technology Centre in Latin America, the largest facility dedicated to the development of fluid technology to meet the region’s automotive and industrial sector’s growing needs.

Syed Zainal: It represents our partnership with worldwide leaders in automotive and industrial sectors.

Bumi Armada aims to improve balance sheet

WHILE a number of analysts agree that the worst may already have been priced into Bumi Armada Bhd, there are some concerns the company may need to resort to raising funds given its high gearing position and the need to brighten its outlook in order to secure jobs moving forward.

Oil set for weekly gain as supply risk weighed against trade war

TOKYO: Oil is poised for a weekly gain as investors weigh potential supply losses from Iran against ongoing concerns over a trade spat between the world’s two biggest economies.

Malaysia's Petronas-Saudi RAPID refinery to receive first oil cargo by end-Sept

SINGAPORE: A supertanker carrying the first crude oil cargo for a refinery joint-venture project between Petronas and Saudi Aramco is expected to reach Malaysia by end-September, according to trade sources and data from Thomson Reuters Oil Research and Forecast

The very large crude carrier (VLCC) Navarin carrying 1 million barrels each of Saudi Arab Medium crude and Iraqi Basra Light crude is scheduled to reach Malaysia on Sept. 20.