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Oil dips below 2019 highs as surging US supply counters Opec cuts

SINGAPORE: Oil prices slipped away from 2019 highs on Wednesday, with surging U.S. supply and slowing economic growth tempering upward pressure from supply cuts led by producer club Opec and from Washington's sanctions on Iran and Venezuela.

Oil near 2019 highs amid Opec supply cuts; rising US output weighs(Update)

SINGAPORE: Oil prices hovered near 2019 highs on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela, but capped by soaring U.S. production and expectations of an economic slowdown.

U.S. West Texas Intermediate (WTI) crude oil futures were at $55.93 per barrel at 0042 GMT, down 16 cents from their last settlement, but not far off their 2019 high of $56.33 reached earlier this week.  International Brent crude futures had yet to trade. They also hit a 2019 high of $66.83 per barrel this week.

Oil prices hit 3-month high amid Opec-led output cuts

SYDNEY: U.S. oil prices hit a three-month high on Tuesday, buoyed by production cuts led by the Organization of the Petroleum Exporting Countries.

U.S. West Texas Intermediate (WTI) crude futures were at $55.95 per barrel at 0034 GMT, up 36 cents, or 0.7 percent, from their last settlement. Earlier in the session, they marked their strongest since Nov. 20 at $56.33 a barrel. International Brent crude oil futures had yet to trade. They closed Monday up 0.4 percent, after touching their highest since Nov. 20 at $66.83 a barrel.

Oil hits 2019-high on Opec supply cuts, US sanctions on Iran and Venezuela

SINGAPORE: Oil prices rose to their highest levels in 2019 on Monday, lifted by OPEC-led supply cuts and by U.S. sanctions on Iran and Venezuela.

U.S. West Texas Intermediate (WTI) crude oil futures hit $56 per barrel for the first time this year, before edging back to $55.89 per barrel by 0051 GMT. That was still 0.5-percent above their last settlement.  International Brent crude futures hit a 2019-high of $66.61 per barrel early on Monday before easing to $66.47 per barrel, still up 0.3 percent from their last close.  For both benchmarks, those were their highest levels since November 2018.

Oil price rises over 2% to 2019 highs on tightening supplies

NEW YORK: Oil prices rose more than 2 percent to their highest this year on Friday after an outage at Saudi Arabia's offshore oilfield boosted expectations for tightening supply, while progressing U.S.-Sino trade talks strengthened demand sentiment.

The international Brent crude benchmark rose $1.68, or 2.6 percent, to settle at $66.25 a barrel, its highest since November.  U.S. West Texas Intermediate crude futures settled up $1.18, or 2.2 percent, at $55.59 a barrel, and hit their highest this year in post-settlement trade at $55.80.  For the week, Brent ended more than 6 percent higher and WTI gained more than 5 percent.

KLCI edges higher on Dialog, PPB Group, IOI Corp’s gains

KUALA LUMPUR: Blue chips trudged higher early Friday, aided by gains in FBM KLCI-linked stocks like Dialog, PPB Group and IOI Corp but key Asian markets were lower after the weaker US retail sales.

Bursa cautious ahead of GDP data, eye on US-China trade talks

KUALA LUMPUR: Bursa Malaysia was cautious in early Thursday trade ahead of the release of the 2018 GDP data and investors stayed on the sidelines awaiting fresh developments in the US-China trade talks.

Oil pushed up by deepening Opec cuts, sanctions on Venezuela


SINGAPORE: Oil prices rose on Wednesday as producer club Opec said it had cut supply deeply in January and as U.S. sanctions hit Venezuela's oil exports.

Oil price gains 1% after Saudi Arabia pledges more output cuts

NEW YORK: Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels

Brent crude futures gained 91 cents, or 1.5 percent, to settle at $62.42 a barrel. U.S. West Texas Intermediate (WTI) crude oil futures rose 69 cents, or 1.3 percent, to settle at $53.10 a barrel.

IHH drags KLCI into the red, markets eye US-China talks

KUALA LUMPUR: Selling pressure on IHH Healthcare bogged down blue chips in early Tuesday trade while key Asian markets focused on the new round of US-China trade talks.