Oil prices rebound in Asia on bargain-hunting
Oil prices rebound in Asia on bargain-hunting

Oil rebounded in Asia today on bargain hunting following a sharp fall the day before as lingering concerns about the global crude supply glut continued to keep a lid on gains.

Crude oil sinks again amid global supply glut

Crude oil prices fell again Friday as the main US futures contract concluded its sixth straight week of losses, in a market awash with worry about the global oversupply.

Oil prices recover amid Greece, supply worries

In mid-afternoon Asian trade, US benchmark West Texas Intermediate for July was up 64 cents at $60.16 while Brent futures for August, a new contract, were up 35 cents at $64.30.

Oil prices fall on oversupply, but US crude supported by Gulf of Mexico storm

"Fundamental data indicates that the oil market is oversupplied by over 2 million barrels per day," the bank said. But it added that due to a recent rally in prices it had lifted its average 2015 Brent and WTI price forecasts to $60 and $55.10 per barrel respectively, up from $52.50 and $48.60 a barrel previously.

Oil prices drop as IEA predicts demand slowdown

US benchmark West Texas Intermediate for delivery in July fell 58 cents to USD 60.85 a barrel compared with yesterday's closing level. Brent North Sea crude for July slid 46 cents to stand at USD 65.24 around midday in London.

Oil prices rise on hopes for China stimulus

Front month U.S. crude climbed 24 cents to $58.38 a barrel by 0320 GMT, after ending the previous session down 99 cents. Brent for June delivery rose 19 cents to $62.88 a barrel, having settled down 62 cents in the previous session.

Oil drops in downbeat start to week

World oil prices fell on Monday after the OPEC crude producers' cartel left its output ceiling unchanged last week in an oversupplied market, dealers said.

Oil prices rise ahead of OPEC output meeting

"We expect payroll numbers to go up, and this will in turn firm up the dollar and subsequently make dollar-priced crude more expensive," said Teo.

OPEC expected to keep status quo on oil output

However on Thursday, New York`s West Texas Intermediate (WTI) crude and London`s Brent oil both fell sharply for a second day as traders fretted that a no-change OPEC decision would further fuel the burgeoning global supply glut.

Crude oil futures fall 0.68% on global cues

Oil prices for June delivery moved down Rs 23, or 0.59 percent, to Rs 3,895 per barrel, with a business volume of 2,045 lots.

Oil prices down in Asian trade

WTI jumped USD 1.06 and Brent rose 61 cents yesterday after a sharp fall in the US dollar, which made dollar-priced crude cheaper for buyers using weaker currencies.

Crude oil futures down on weak Asian cues

The trading sentiment eased in futures trade after crude oil prices fell in Asian trade today following gains at the end of last week while there are still concerns about a global supply glut as OPEC prepares for a meeting where it is expected to maintain output, analysts said.

Crude oil futures surges by Rs 65 on Asian cues

Crude oil for delivery in June was trading notably higher by Rs 65, or 1.77 percent to Rs 3,733 per barrel, with a business turnover of 4,545 lots in futures trading at the Multi Commodity Exchange.

Oil prices higher in Asian trade

Analysts expect inventories fell for a fourth consecutive week, by 2.0 million barrels, according to a survey by Bloomberg News.

Rupee plunges to 64-level vs US dollar

The rupee reacted downwards against the pound sterling to 98.58 from 98.36 previously and dropped against the euro to 69.87 from 69.77.

Oil prices mixed in Asian trade

Oil is on an uptrend but neither is it on a steady fall. Oil has stabilised at current prices, and in dicates both the WTI and Brent to remain in this USD 60-USD 70 range.

Oil prices slip in Asian trade

Now, the rally seems to have fizzled out probably due to profit-taking as the market re-adjusts.

Oil prices rise on strong Japan, Australia economic data

Brent futures were up 60 cents at $64.62 a barrel by 0310 GMT. U.S. crude prices were also up 60 cents at $58.59 a barrel.

Oil prices lower after rally

"It`s likely that the gains that we`ve seen might be getting close to an end point. Oil will probably find it difficult to sustain values much beyond the mid $60s."

Oil prices retreat on profit-taking

US benchmark West Texas Intermediate (WTI) for May delivery dipped 43 cents to $56.28 and Brent crude for June eased 48 cents to $63.50 in late-morning trade.