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SINGAPORE: US crude oil prices stayed below $100 in Asian trade Tuesday as investors digested a steep increase in stockpiles following slow refinery activity, analysts said.
US oil prices sank below US$98 to their lowest in nearly four months on Tuesday, while European Brent held firm, as fears of a near-term US crude surplus pushed the spread between the two oil contracts to its widest gap since April.
KUALA LUMPUR: Iskandar Waterfront, tasked with developing a Malaysian city to rival neighbouring Singapore, has postponed a $300 million IPO on concerns that measures to rein in property prices would slow demand from well-heeled foreigners, two sources told Reuters.
LONDON: Morgan Stanley has launched a formal effort to sell control of its U.S. oil pipeline and terminal business TransMontaigne, sources said on Wednesday
Brent crude rose above US$108 a barrel on Friday after posting its biggest daily percentage drop in six months in the previous session, although expectations for a rise in Libyan supply and speculation of a build-up in US stockpiles capped gains.
NEW YORK: Brent oil settled at a three-month low on Tuesday, pressured by the downturn in emerging markets, while US crude ended higher, boosted by continued demand for heating fuels and the expectation of a large draw from storage at the benchmark's delivery point.