29 May 2020 - 08:07Singapore — Oil prices edged lower on Friday after US inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening US-China tensions weighed on global financial markets.
"The rally needs a breather. It has been four weeks of gains and the market needs to buy time for downstream prices to catch up," OCBC economist Howie Lee said.Thursday’s data from the Energy Information Administration showed that US crude oil and distillate inventories rose sharply last week. Fuel demand remained slack even as various states lifted travel restrictions they had imposed to curb the coronavirus pandemic, analysts said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Experts raise red flags over Correctional Services granting parole to low-risk offendersCriminology experts have questioned the efficacy of granting parole to low-risk offenders during the Covid-19 pandemic. TheCapeArgus lockdown
Source: IOL - 🏆 46. / 51 Read more »
Sygnia reaps rewards of low-cost offerings in tough trading environmentHeadline earnings per share could double in the group’s six months to end March
Source: BDliveSA - 🏆 12. / 63 Read more »
Surge of online shopping may be a lucky break for low-paid workersAmazon’s working conditions are in the spotlight, but author says only government action will force large companies to change
Source: BDliveSA - 🏆 12. / 63 Read more »
Sygnia reaps rewards of low-cost offerings in tough trading environmentHeadline earnings per share could double in the group’s six months to end March Did she not back CR17 campaign? What a waste of investor money! Heard she got fired from the job for betting on the wrong horse. 🤣
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: mailandguardian - 🏆 2. / 92 Read more »