Oil prices rose slightly in thin Asian trade on Thursday, pausing from a six-day losing streak fed by mounting concerns that more aggressive interest rate increases by central banks could pressure economic growth and fuel demand.
Brent crude futures rose 2 cents to $80.62 per barrel by 0110 GMT. West Texas Intermediate crude futures rose 9 cents, or 0.1 per cent, to $74.04 a barrel. Minutes from the latest U.S. Federal Reserve meeting showed that a majority of Fed officials agreed the risks of high inflation remained a key factor shaping monetary policy and warranted continued rate hikes until it was controlled.U.S. crude oil and fuel inventories rose by 9.9 million barrels last week, according to market sources citing American Petroleum Institute figures on Wednesday.
U.S. oil inventories have climbed every week since mid-December, stoking investor worries about demand. A Reuters poll had forecast a 2.1 million barrel increase in crude stockpiles last week. Official data from the U.S. Energy Information Administration is due on Thursday at 1600 GMT.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brent oil lower amid stronger dollar, caution ahead of Fed minutesThe Brent crude benchmark opened slightly lower on Tuesday as the U.S. dollar strengthened and traders waited for cues from the U.S. Federal Reserve meeting minutes, after optimism over demand amid tightening supplies drove prices higher on Monday.Brent crude was down 59 cents, or 0.5 per cent, at $83.57
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian champions Al Hilal to face Foolad as Al Shabab meet Al DuhailSaudi Arabia's Al Hilal will continue the defence of their Asian Champions League title against Foolad from Iran on Thursday while compatriots Al Shabab take on Al Duhail from Qatar.Riyadh-based Al Hilal, aiming to win the title for a record fifth time, were drawn to take on the team from Khuzestan in the
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian shares stutter, dollar rally pauses as Fed cues eyedSINGAPORE : Asian stocks edged lower on Tuesday as the prospect of the U.S. central bank having to stay on its hawkish path weighed on sentiment, with investors looking to the minutes of the latest Federal Reserve meeting for further monetary policy clues.MSCI's broadest index of Asia-Pacific shares outsi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian Insider Podcast: Why future is dim for US-China crisis managementWhy perceptions of being “soft” on China will increasingly be a political liability in the US. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Foolad confirm head coach departure ahead of Asian quarterfinalAsian Champions League quarterfinalists Foolad confirmed on Wednesday that Javad Nekounam has quit as the Iranian side's head coach, less than two days before the team is due to face defending champions Al Hilal from Saudi Arabia.A statement by the club said they had accepted the resignation of the former
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Oil steadies as investors await US Fed Reserve commentsOil prices were steady on Wednesday as investors await the U.S. Federal Reserve's comments after recent data pointed to the possibility of more interest rates hikes, which may lower economic growth and limit global fuel demand.Brent crude futures for April delivery were up 2 cents to $83.07 a barrel by 02
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »