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BENGALURU: Barclays forecast 2020 oil demand to rise by 1.4 million barrels per day (bpd), up from growth of 900,000 bpd in 2019, and an increase of 50,000 bpd from its earlier forecast, on an expected recovery in global economic activity.
SINGAPORE: Oil jumped back above US$65 a barrel in London, as supply disruptions in Iraq and Libya reignited concerns over the market’s vulnerability to geopolitical risk in key production regions.
HONG KONG: Oil jumped as rising tension in the Middle East and North Africa halted output and exports from key OPEC producers Iraq and Libya.
TOKYO: Stocks were steady in early Asian trade on Wednesday as investors awaited the signing of an initial U.S.-China trade deal, with sentiment somewhat dented by comments from the U.S. Treasury Secretary's that tariffs would remain in place for now.
NEW YORK: A dramatic US drone strike killed Iran’s most important general. Tehran vowed retribution and oil prices jumped almost 5% as traders rushed to cover the risk of a Middle East war. Then the selling started.
KUALA LUMPUR: Bursa Malaysia started Monday at a slow pace as investors awaited leads from funds though market sentiment was overall firmer ahead of the signing of a US-China trade deal.
AMIDST an uneasy calm in the Middle East, currently the scene of unpredictable events, oil price is likely to remain volatile.
HOUSTON: Oil fell below $65 a barrel on Friday in its first weekly loss since late November, erasing the week's risk premium added since a U.S. drone strike killed a top Iranian general as investors focused on rising U.S. inventories and other signs of ample supply.
NEW YORK: Oil futures fell more than 4% on Wednesday in a wild swing, soaring close to a four-month high in early trade on an Iranian rocket attack on U.S. forces in Iraq before retreating as the countries quickly ratcheted back tensions.
SINGAPORE: Oil prices jumped back above US$70 a barrel after Iran attacked two US-Iraqi bases in its first response to the killing of its top general, before paring most of their gains as Tehran signaled the strike was over.