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HONG KONG: Oil fell to trade near US$16 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output. Futures in New York slid as much as 10%, snapping a four-day gain
SINGAPORE (AFP): Brent crude plunged more than 12 per cent to below US$17 a barrel Wednesday (April 22) while US oil erased early gains and fell, as the coronavirus strangles demand and ravages energy markets, while storage facilities approach full capacity.
BRUNEI, April 22 (Borneo Bulletin/ANN) - Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah said yesterday during a press conference that there is obviously an oversupply situation following a question on whether the recent plunge in Brent Blend crude oil prices have affected Brunei.
HONG KONG: US crude prices bounced back on Tuesday (April 21) but were unable to keep in positive territory, a day after crashing below US$0 for the first time owing to crippled demand and a storage glut, while the commodity rout sent equities sharply lower.
KUALA LUMPUR: The worst may not be over for the oil market as West Texas Intermediate (WTI) ended its May contract trading about US$30 below zero on Tuesday (April 21), the first time oil prices have ever turned negative.
HONG KONG (Bloomberg): Oil rebounded in Asian trading, after plunging below zero for the first time in history amid rapidly filling American storage tanks, as the US benchmark’s May contract entered its final trading session.
SINGAPORE (The Straits Times/ANN): Fuel pump prices have not moved since late March, despite crude oil prices falling to below zero on Monday (April 20) before rebounding.
HONG KONG: Oil prices collapsed to more than two-decade lows Monday (April 20) as traders grow concerned that storage facilities are reaching their limits, while signs that the coronavirus may have peaked in Europe and the United States were unable to help Asian equities extend their recent advances.
HONG KONG: Asia markets fell Monday with investors cautious on news of an international deal to shore up oil prices and tentative signs of progress in efforts to combat the coronavirus pandemic. OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out a compromise deal on Sunday to cut production by nearly 10 million barrels per day from May.
HONG KONG/LONDON: The price of crude oil surged again Friday (April 4) after OPEC said it would talk to non-members, notably Russia, giving investors hope that they will stop a price war which has created market chaos along with crushed demand because of the Covid-19 (coronavirus) outbreak.