Oil prices held steady on Friday after OPEC+ ministers delayed a meeting on output policy as the United Arab Emirates balked at a plan to add back 2 million barrels per day in the second half of the year.
U.S. West Texas Intermediate crude futures were up 5 cents at US$75.28 a barrel at 0155 GMT, having jumped 2.4per cent on Thursday to close at their highest since October 2018.Brent crude futures inched up 4 cents to US$75.88 a barrel, after rising 1.6per cent on Thursday. Prices retreated after the plan met resistance from the UAE and OPEC+ postponed a ministerial meeting to Friday.
WTI was on track for a 1.6per cent rise for the week with the U.S. crude market seen tightening as refinery runs pick up to meet recovering gasoline demand, while U.S. shale oil production has not risen at the same pace.
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.
Oil rises on lower US stockpiles but OPEC warns of 2022 glutOil prices on Wednesday extended the previous day's small gains after an industry report showed U.S. crude stockpiles fell last week, overriding ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Rising oil price will draw response from consumers: KempOil prices have risen above the long-term average, once adjusted for inflation, and are likely to encounter increasing resistance from consumers ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Oil rises on lower US stockpiles but OPEC warns of 2022 glutOil prices on Wednesday extended the previous day's small gains after an industry report showed U.S. crude stockpiles fell last week, overriding ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea's factory activity expands for 9th month; supply chain disruption adds strainsSouth Korea's factory activity extended growth into a ninth month in June thanks to improving global demand, though record input and output price ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Ho Kee Pau's food products at NEX outlet recalled after pest infestations on supplier's premisesSFA found widespread pest infestations, such as cockroaches and rodent droppings, in the food preparation and assembly areas of the food manufacturing company.
Source: YahooSG - 🏆 3. / 71 Read more »
Team USA will wear Kim Kardashian's innerwear and loungewear brand at the OlympicsThe Keeping Up With The Kardashians star announced that her Skims label is the official designer supplying the women athletes with underwear and pyjamas. How to devalue your country's brand 101. Wow, Kim would make tons of $$$. Kinda wondering if she went for this contract out of spite since the Japanese people didn't let her trademark 'Kimono'.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »