oil market

 
 

Oil up over 2pc as Opec raises output modestly

LONDON, June 22 — Oil prices rose sharply today as Opec agreed a modest increase in output to compensate for losses in production at a time of rising global demand. Benchmark Brent crude jumped US$2.29 a barrel, or 3.1 per cent, to a high of…


KLCI slides below key 1,700 as Telekom slumps on broadband price cut

1

KUALA LUMPUR: Foreign fund selling continued to weigh on Bursa Malaysia, with the FBM KLCI falling below the key support level of 1,700 in late morning trade on Thursday. At 11.02am, the KLCI was down 9.92 points or 0.58% to 1,699.83. Turnover was 743.72 million shares valued RM576.26mil. There were 206 gainers, 463 losers, 291 counters unchanged. The decline on Bursa Malaysia contrasted with the key Asian markets. Asian shares crept ahead on Thursday as a lull in the Sino-US trade tussle and talk of more Chinese stimulus helped calmRead More


Asian shares subdued amid lull in trade spat, oil eases into Opec

SYDNEY, June 21 — Asian shares were subdued today as a lull in the Sino-US trade tussle helped calm nerves enough for the Nasdaq to reach a record high, while tensions in the oil market grew ahead of an Opec meeting that may expand crude supply….


Oil traders ready for musical chairs as China tariffs loom

NEW YORK, June 20 — Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of US energy products, including crude. China, which has bought an average 330,000 barrels per day (bpd)…


Opec sees strong oil market, possible need for more output

VIENNA, June 19 — Global oil demand is set to stay strong in the second half of 2018, an Opec technical panel forecast this week, suggesting the market could absorb extra production from the group. The Organisation of the Petroleum Exporting…


Oil rises ahead of Opec meet, China tariffs loom over US prices

NEW YORK, June 19 — Oil prices rose on yesterday in volatile trade as market participants lowered their expectations for how much Opec might increase production and investors assessed the impact of a trade dispute between the United States and…


Wall Street ends modestly lower but energy shares rise

NEW YORK, June 19 — The Dow and S&P fell modestly yesterday, ending well off session lows, as gains in energy shares helped curb declines stemming from trade war concerns after China's retaliation to US tariffs. US President Donald Trump said…


China’s tariffs on US oil would disrupt US$1 billion monthly

SINGAPORE: China’s threat to impose duties on US oil imports will hit a business that has soared in the last two years, and which is now worth almost US$1 billion per month. In an escalating spat over the United States’ trade deficit with most of its major trading partners, including China, US President Donald Trump […]


China’s tariffs on US oil would disrupt US$1b monthly business

SINGAPORE, June 18 — China’s threat to impose duties on US oil imports will hit a business that has soared in the last two years, and which is now worth almost US$1 billion (RM3.99 billion) per month. In an escalating spat over the United…


Saudi oil chief faces toughest Opec test after reviving market

LONDON, June 18 — Since he became Saudi Arabian energy minister two years ago, Khalid Al-Falih has had a good run: he persuaded a fractious Opec to cut oil production, convinced Russia to join the cartel in curbing output, and then saw Brent crude…