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Business 07 Mar 2016 | 5:16 PM

Oil hits 2016 high above US$40; glut warnings resurface

NEW YORK: Brent crude rose on Monday, hitting a 2016 peak above US$40 a barrel as producers sought a new anchor price for oil after a selloff that has lasted nearly two years, although some analysts warned the global glut is still big.

Corporate News 21 Mar 2016 | 11:59 PM

Wall St ends flat as recent rally spurs caution

NEW YORK: Wall Street closed little changed on Monday as investors searched for fresh catalysts and showed concerns about fully-extended share prices after a five-week rally.

Corporate News 22 Mar 2016 | 12:01 AM

Oil up on Cushing crude drawdown, eyes on US output

NEW YORK: Oil prices rose about 1 percent on Monday after data showed crude inventories at the Cushing, Oklahoma delivery hub for U.S. futures fell for the first time since January, and ahead of the expiration of the U.S. front-month contract.

Business 22 Mar 2016 | 12:56 AM

Breakfast briefing: Tuesday, March 22

Breakfast briefing: Tuesday, March 22

Business 23 Mar 2016 | 11:19 PM

Oil down 4%; US stockpile build threatens market recovery

New York: Oil prices tumbled 4% on Wednesday, with US crude settling below the key US$40 per barrel mark after a sixth straight week of record highs in stockpiles that traders warned could cut short the market's two-month long rally.

Markets 24 Mar 2016 | 1:38 AM

Oil prices fall after big jump in US stockpiles

TOKYO: Oil prices dropped in early Asian trading on Thursday, adding to a slump in the previous session after U.S. stockpiles rose for a sixth week to another record, sapping the strength of a two-month rally in prices.

Business 07 Apr 2016 | 1:23 AM

Oil prices jump 5% after surprise US crude stockpile draw

New York: Oil prices rose 5% on Wednesday, their biggest advance in three weeks, after the US government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high.

Business 08 Apr 2016 | 1:07 AM

Oil slips on modest Keystone impact

New York: Oil settled lower on Thursday after data showed higher weekly inventories at the US crude storage base despite a pipeline outage, but prices pared losses on short-covering, suggesting more volatility ahead.

Commodities 08 Apr 2016 | 10:51 PM

Oil prices jump 6 percent on US stockpile draws

NEW YORK: Oil prices rose more than 6 percent on Friday to end with the biggest weekly gain in a month as drawdowns in U.S. crude stockpiles fed hopes that a punishing global oversupply may be approaching a tipping point after nearly two years.

Business 03 May 2016 | 1:09 AM

Oil down 3% on Opec output hike, speculative ramp-up in Brent

New York: Oil prices fell about 3% on Monday as production from the Organisation of the Petroleum Exporting Countries neared all-time peaks and record speculative buying in global benchmark Brent sparked profit-taking on last month's outsized rally.