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NEW YORK: Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies.
NEW YORK: Oil prices edged up to fresh four-week highs on Thursday on positive U.S. economic data and higher demand forecasts from the International Energy Agency (IEA) and OPEC as countries start to recover from the COVID-19 pandemic.
PETALING JAYA: Potential stockpiling activities from China and India as well as renewed purchasing from Muslim countries ahead of the Aidil Fitri festive season is expected to push the exports of local palm oil higher this month.
KUALA LUMPUR: The ringgit climbed 50 basis points (bps) against the US dollar at the opening, fuelled by strong crude oil prices which rose nearly 5.0 per cent overnight due to rising demand.
NEW YORK: Oil prices surged almost 5% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand after the coronavirus lockdowns last year crushed fuel consumption.
KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd said it has secured a contract from SapuraOMV Upstream (Sarawak) Inc.
NEW YORK: Oil prices rose on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.
NEW YORK: Oil prices settled lower on Friday and fell around 2% this week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand
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NEW YORK: Oil prices were little changed on Thursday as a falling dollar and rising stock markets offset earlier declines caused by a big increase in U.S. gasoline stockpiles and subdued demand compared with pre-pandemic levels.