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Business

Brent crude falls below US$55 as Fed hike heightens demand fears

SEOUL: Oil briefly fell below US$55 a barrel in London for the first time in a year as an US Federal Reserve interest-rate hike stoked demand fears just as markets contend with excess supply.

Business

Oil prices tumble to lowest in more than a year as equities sell off

NEW YORK: Oil prices fell about 5 percent on Thursday, hitting their lowest level in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets.

Business

US oil price falls below US$50 on oversupply fears(Update)

SINGAPORE: Oil prices dropped 1 percent on Tuesday, extending losses from the previous session as reports of a big climb in U.S. inventories and forecasts of record shale output stoked worries about oversupply

Business

Oil prices rise, but global economic concerns weigh(Update)

SINGAPORE: Oil prices climbed on Monday after U.S. drilling activity fell to its lowest level in about two months, but increasing concerns about weaker growth in major economies kept a lid on gains.

Business

Palm oil stocks at highest level in 20 years

SINGAPORE: Malaysia’s palm oil stockpiles at the end of November rose above 3 million tonnes as a steep decline in exports boosted reserves, official data showed yesterday.

Business

Oil drops as OPEC makes supply cut dependent on Russian support(Update)

SINGAPORE: Oil prices fell on Friday, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia.

Business

Oil prices ease in cautious trading ahead of Opec meeting(Update)

SINGAPORE: Oil prices dipped on Thursday in tepid trading ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October.

Business

Putin: Russia and Saudi Arabia to extend Opec+ pact

BUENOS AIRES: Russia and Saudi Arabia agreed to extend into 2019 their agreement to manage the oil market, known as Opec+, although Moscow and Riyadh have yet to agree on any fresh output cuts.

Business

Oil plunges nearly 8% despite talk of output cut

BOSTON: Oil prices slumped up to nearly 8 percent to the lowest in more than a year on Friday, posting the seventh consecutive weekly loss, amid intensifying fears of a supply glut even as major producers consider cutting output.

Business

Oil prices pressured by rising stocks, but expected OPEC cut supports(Update)

SINGAPORE: Oil markets started Thursday timidly, with rising U.S. crude inventories pressuring prices but an expected supply cut by producer cartel OPEC offering some support.