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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.
SINGAPORE: Oil rose further Friday (March 20) after a dramatic rebound from multi-year lows but stayed below $30 a barrel on fears the Covid-19 (coronavirus) will push the world into recession with an oversupply. US benchmark West Texas Intermediate (WTI) was up 3.65% to US$26.14 a barrel in midday Asian trade. Brent climbed 2.14% to US$29.08 a barrel.
HONG KONG: Asian markets fluctuated on Tuesday (March 17) after Wall Street suffered its worst day in more than three decades with the Covid-19 (coronavirus) panic sweeping the planet, though European equities enjoyed an early bounce.
HANOI (Vietnam News/ANN): Oil logged its worst week since 2008 after the oil price war, initiated by Saudi Arabia early last week, delivered a double blow to nervous investors already rattled by declines in world stocks due to the spread of the novel coronavirus, or Covid-19
LONDON/DUBAI/SINGAPORE:Oil prices jumped by around 8% on Tuesday (March 10) a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible.
BEIJING/LONDON/RIYADH: The OPEC club of oil-producing countries begins meeting on Thursday (March 5) in Vienna as they weigh how to react to a sharp drop in global oil demand due to the outbreak of the Covid-19 (coronavirus).
SINGAPORE: Oil rose to US$60 a barrel for the first time in almost three months after US President Donald Trump signed off on a partial trade deal with China, giving a boost to the fragile outlook for global oil demand.
SINGAPORE (Reuters) - U.S. attempts to drive Iranian oil exports down to zero come against the backdrop of a global market that is sufficiently well supplied to avoid price disruptions, senior U.S. officials said on Thursday.
GEORGE TOWN (Bernama): The government will only recalibrate the 2019 Budget if average crude oil price dip below US$50 (RM210) per barrel, says Finance Minister Lim Guan Eng.