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Business

Palm oil seen hitting RM2,400 per tonne

MELAKA: The price of palm oil is expected to increase gradually to reach RM2,400 per tonne this year, said Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin.

Business

Oil prices edge higher as financial markets pare some losses

NEW YORK: Oil prices edged higher on Thursday and Brent hit the highest level this year, but gains were capped after the steepest decline in U.S. retail spending since 2009 heightened investor fears of a global economic slowdown.

Business

Global oil supply to swamp demand in 2019 despite output cuts

LONDON: The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group's production cuts and U.S. sanctions on Venezuela and Iran, the International Energy Agency said in a report on Wednesday

Business

Oil prices fall on rising US rig count

SINGAPORE: Oil prices fell by more than 1 percent on Monday as U.S. drilling activity picked up and as a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit.

Business

Oil price edges up

NEW YORK: Oil futures edged higher on Friday but ended the week with a loss on renewed concerns about slowing global demand and after the dollar posted its best week in six months.

Business

Oil price fumbles on global economic worries, US$ strength

NEW YORK: Oil prices slipped on Tuesday, falling from two-month highs as concerns over a global economic slowdown crept back into the market, and a stronger dollar also weighed.

Business

Oil price slides on disappointing US data after hitting 2-month high

NEW YORK: Oil prices fell on Monday after disappointing U.S. factory data sparked fresh concerns about a slowdown in the global economy, but losses were limited as OPEC-led supply cuts and U.S. sanctions against Venezuela pointed to tighter supply.

Business

Oil prices up two percent following US sanctions on Venezuela

NEW YORK: Oil prices gained more than 2 percent on Tuesday after the United States imposed sanctions on state-owned Venezuelan oil company PDVSA, a move likely to reduce the OPEC member's crude exports and relieve some global oversupply worries.

Business

Gold hits eight-month high

NEW YORK: Gold hit an eight-month high while world stock markets were mixed ahead of further U.S.-Sino trade talks, a raft of technology company results, including Apple's, and a Federal Reserve decision on U.S. interest rates.

Business

Oil price nudges higher, but ample global production weighs(Update)

SYDNEY: Oil prices steadied on Tuesday, edging up from a near two-week low in the previous session when prices fell around 3 percent on fears of supply growth and a global economic slowdown.