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18/05/2011 00:00 AST
Oil was higher in Asian trade today but lingering concerns over waning US demand will limit prices, analysts said.
New York's main contract, light sweet crude for June delivery advanced 80 cents to $97.71 a barrel and Brent North Sea crude for July delivery gained 57 cents to $110.56.
US government data released yesterday showed a plunge in home construction in April, triggering concerns about the health of the world's largest economy.
Housing starts tumbled 10.6% from March and building permits, a forward-looking indicator, fell 4.0%, the Commerce Department said.
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Business Standard
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 76.76 | -0.11 | -0.14 |
| WTI | 72.53 | -0.2 | -0.28 |
| OPEC Basket | 79.38 | -0.14 | -0.18 |
05/04/2018
Opec crude production dropped to the lowest in a year amid the woes in Venezuela's oil industry. Output from the 14 members of Organisation of Petroleum Exporting Countries fell by 170,000 barrels to
Gulf News
03/04/2018
Oil's rally above $65 a barrel is being propelled by a sign that American explorers have curtailed drilling activity as well as ongoing speculation that the US could reimpose sanctions on Opec produc
Gulf News
29/03/2018
The Organization of the Petroleum Exporting Countries (Opec) is seeking "very long-term" cooperation with other crude exporters, the secretary general of the oil exporting group said on Wednesday.
The Gulf Today
28/03/2018
Saudi Arabia and Russia are working on a long-term oil pact that could extend controls over world crude supplies by major exporters for up to 20 years, the Kingdom's crown prince has said.
Arab News
27/03/2018
International oil prices are likely to tick up into the "high-sixties" further into 2018, according to Dr Mohammed bin Hamad al Rumhy, (pictured) Minister of Oil and Gas. Speaking at the opening of t
Oman Daily Observer
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