:Crude oil prices edged higher in Asian trade on Tuesday amid hopes of a fuel demand recovery from top importer China, although concerns about a slowdown in the U.S. economy capped gains.Brent crude was down 5 cents to $88.14 per barrel by 0436 GMT after rising to a session high of $88.36. U.S. West Texas Int
:Crude oil prices edged higher in Asian trade on Tuesday amid hopes of a fuel demand recovery from top importer China, although concerns about a slowdown in the U.S. economy capped gains.
Crude oil prices in physical markets have started the year with a rally, as China, no longer held back by pandemic controls, has shown signs of more buying and as traders have worried that sanctions on Russia could tighten supply. A weaker greenback makes dollar-denominated commodities, including oil, cheaper for buyers using other currencies.
Investors have piled back into petroleum futures and options at the fastest rate for more than two years as concerns about a global business cycle downturn have eased, although flash PMI data due on Tuesday is expected to show a contraction.
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Oil prices fall but remain buoyed by China outlookMELBOURNE : Oil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year.Brent crude futures retreated by 46 cents, or 0.5 per cent, to $87.17 at 0
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Oil prices retreat in thin trade, but China outlook offers supportOil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year.Brent crude futures was down by 46 cents, or 0.5 per cent, to $87.17 at 0349 GMT, whil
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Japan 2022 crude steel output falls 7.4% amid slow car productionTOKYO : Crude steel output in Japan, the world's third-biggest producer, fell 7.4 per cent in 2022 from the previous year due to a slow recovery in automobile production and weaker export demand amid a slowdown in the global economy.Output dropped for the first time in two years to 89.23 million tonnes, f
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What does Europe risk with upcoming wider sanctions on Russian oil?It may heap new costs on diesel-reliant industries among other things. Read more at straitstimes.com.
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People in China pray for health during Chinese New Year as COVID-19 death toll risesBEIJING: China rang in the Chinese New Year on Sunday (Jan 22) with its people praying for health after three years of stress and financial hardship under the pandemic, as officials reported almost 13,000 new deaths caused by the virus between Jan 13 and 19. Queues stretched for about 1km outside the
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People in China pray for health in Chinese New Year as COVID-19 death toll risesBEIJING: China rang in the Chinese New Year on Sunday (Jan 22) with its people praying for health after three years of stress and financial hardship under the pandemic, as officials reported almost 13,000 new deaths caused by the virus between Jan 13 and 19. Queues stretched for about 1km outside the
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