InfoAnda - Grim economic news pulls oil prices lower

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Airman in Alaska sentenced for forced miscarriage | 3 May 2009
Philippine campaign starts as race tightens | | 7 February 2010
Richardson in N.Korea, hopes to 'make a difference' | 16 December 2010

Freed Italian, Spanish hostages head for Europe | | 19 July 2012

">Forum Views () ">Forum Replies ()

Read more with google mobile : Grim economic news pulls oil prices lower

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: Grim economic news pulls oil prices lower AFP - 2 hours 55 minutes ago SINGAPORE, Nov 20, 2008 (AFP) - Increasingly grim global economic news and the prospects for even weaker demand for energy pulled world oil prices lower on Thursday, analysts said. In afternoon trade New York's main futures contract, light sweet crude for December delivery, dropped 84 cents to 52.78 dollars a barrel, on top of a 77-cent drop Wednesday at the New York Mercantile Exchange. The contract closed at 53.62 but in pre-market trade dropped to 53.30 dollars, the lowest point since January 2007. Brent North Sea crude for delivery in January eased 92 cents to 50.80 after falling 12 cents to 51.72 dollars Wednesday in London. The contract hit an intraday low of 50.61, the lowest level in three and a half years. "The bearish signals continue to really overwhelm the global economy," said Victor Shum, of Purvin and Gertz international energy consultancy in Singapore. Dismal US government reports on Wednesday showed a record fall in consumer prices and a record low in starts on housing construction, while struggling automakers continued to beg Congress for a bailout. The Federal Reserve, the United States central bank, sharply cut its outlook for the US economy for 2009, highlighting the potential for recession over the next year while leaving the door open for more rate cuts. Concern for slowing global economic growth and its impact on energy demand has already led oil prices to plummet from record peaks above 147 dollars in July. "Right now I think we are looking at 50-dollar crude in the short-term," Shum said. The latest weekly US Department of Energy (DoE) report on energy stockpiles supported the bearish sentiment, analysts said. Crude stocks in the world's largest energy consumer rose more than expected, while during the past four weeks the average consumption of petroleum products fell 7.0 percent from a year ago. "That's really a bearish signal for oil demand," Shum said, adding that concerns about recession and its impact on demand for oil "are so overwhelming that the bullish news is simply put aside." Among bullish factors, he said, was the seizure by pirates of a Saudi Arabian tanker, the Sirius Star, loaded with two million barrels of oil. Pirates took control of the vessel hundreds of miles (kilometres) off the Kenyan coast at the weekend, and Saudi Arabia's foreign minister said the owners were negotiating with them. Jason Feer, of energy market analysts Argus Media in Singapore, said the amount of oil involved was not in itself large enough to affect the crude market, although piracy was having other consequences. "What seems to be happening is that piracy incidents around Somalia have gotten so bad that companies are avoiding using that route," Feer said. They now prefer a longer, costlier route, which could be potentially disruptive to Asian crude deliveries, he said Wednesday. burs-it/dan Email Story IM Story Printable View Blog This Recommend this article Average (2 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Asia Pacific Shipping industry hit by yard cancellations, fewer transactionsChannel NewsAsia - 1 hour 1 minute ago NATO: Pakistan fired on rebels on Afghan borderAP - 1 hour 2 minutes ago Police to end restrictions on ex-Gitmo detaineeAP - 1 hour 2 minutes ago Reliance Capital to launch Islamic funds in MalaysiaReuters - 1 hour 7 minutes ago 2008 PSLE sees almost 97% of students eligible for secondary schoolsChannel NewsAsia - 1 hour 18 minutes ago Most Popular – Asia Pacific Viewed Obama girls visit their future White House home US economy faces 'catastrophic collapse' without auto bailout: GM Saudi super-tanker taken to Somali pirate lair Exercise, sleep cuts cancer risk: study Citigroup to slash 50,000 jobs, expenses worldwide View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Wednesday, 19 November 2008
Iran kills Kurd separatists at border
Israel spurns UN plea to ease Gaza blockade
U.N. says Congo rebels pulling back in hundreds | International |
iPhone sex: Google application baffled by British accents
Taiwan ex-president back in jail as probe wraps up | International |
German group SolarWorld bids 1bln euros for Opel car plants
Japanese mobiles to offer psychotherapy sessions
Russia, Georgia start talks seen lasting years | International |
Israel rebuffs U.N. calls to open Gaza crossings | International |
High in the Holy Land, a Biblical view of peace | International |
Russia lawmakers approve longer presidential term | International |
U.N. calls food summit in 2009, hopes for fair trade | International |
Toyota to shut US, Canada plants for two days next month
HK stock index down nearly 1 percent
Cellphone industry eyes charger power savings | Technology |
Toyota to reduce output, temporary workers in US
China stocks rebound despite regional losses
Chinese automakers, hit by slowdown, ask for help
Pakistani 6-mth T-bill cut off yield at 14.0108 pct
CSI: NY turns 100 | Entertainment |
Philippine Airlines reports $114M loss in 1st half
Will Smith and scribe reunite for Asian remake | Entertainment |
Wynn supports government travel measures in Macau
FDA opens new China office
Beast sure to be a 3-D beauty for Disney in 2010 | Entertainment |
IMF: Kazakh economy on the right path
Hugh Jackman crowned People's `Sexiest Man Alive'
Japan, Australia agree on diplomacy to solve whaling row
Japan's DoCoMo eyes 'Google phone' launch next year
Crisis? What crisis? Dubai hotel to throw 20 mln dlr party
It is unusual: Jones shocks fans by busking in London
Tsunami warning lifted after Indonesia quake
Publicist: Winona Ryder hospitalized in UK
Monty Python strike back on YouTube
India to have 400,000 dollar-millionaires by 2017: Barclays
Indonesia quake toll rises to six, more than 150 injured
NVIDIA brings supercomputing to the desktop
Indian navy destroys pirate ship as super-tanker ransom demanded
Indonesia quake kills 4, buildings collapse
Gays, lesbians to get eHarmony too
Danes happiest, Bulgarians most miserable: EU lifestyle study
Massive EU online library looks to compete with Google
Suspected US missile strikes deep inside Pakistan
PC Magazine dropping print for online
Clive Barnes, theater, dance critic, dies at 81
Japan PM apologizes over gaffe about doctors
Thousands displaced in Indonesia as quake toll hits six
Hark! Colbert sings in new Christmas special
Microsoft CEO rules out another Yahoo takeover bid
Powerful Indonesia quake kills 4, crumples homes
Ad ranks Indonesian dictator Suharto among heroes
Five dead, 14 missing in Indonesia landslide: official
China's Baidu.com fights to rescue reputation
Beyonce coming a bit more 'Fierce'
Global media executives protest Gaza press ban
Clarification: National Guard-Afghanistan story
France charges Rwanda aide amid Kigali protests
Obama campaign e-mobilizes for the future
Syria site hit by Israel resembled atom plant: IAEA | International |
Archaeologists: New evidence for Herod's tomb site
Shuttle crew begins space station makeover
Russia, Georgia start round-table talks post-conflict
Lawmaker accuses Bush of secrecy over Iraq deal | International |
Germany's SolarWorld springs surprise bid for GM's Opel
France charges Rwanda aide amid Kigali protests
Zawahiri warns 'house negro' Obama
Chavez aims to deepen revolution in Venezuela vote | International |
Iran blocks access to over five million websites: report
Spain to help families track Franco-era victims' remains
Israel boycotts UN racism conference, claims bias
Bolivia's Morales says U.S. DEA bugged his phone | International |
Fed acknowledges recession risk, global gloom deepens
Thailand using royal law to suppress dissent: watchdog
Russia closes Politkovskaya murder trial to public
43 rare clocks stolen from Israel found in France
U.N. probes reports of violations of Darfur ceasefire | International |
Rwandan presidential aide extradited to France: Germany
IAEA makes little headway on Syria, Iran
US consumer prices plunge record 1% in October
PC Magazine dropping print, going online: PaidContent
Russia moves closer to longer presidential terms
Brazil charges officials, carrier in air crash | International |
Microsoft to offer free anti-virus software
Iranian nuclear probe deadlocked, says IAEA
Politkovskaya trial defendants plead not guilty: lawyer
Grenade attack on Thai anti-government protesters kills 1 | International |
NVIDIA brings supercomputing to the desktop
Russians, Georgians gather for fresh stab at talks
Will the Obamas turn the White House green?
Microsoft rules out buying Yahoo but likes search deal | Technology |
Polish FM wants missile defense signal from Obama
UN climate change chief hails Obama commitments
One killed, 21 wounded in Bangkok blast: emergency services
McCartney, Guns N' Roses albums to launch on MySpace | Technology |
Wanted: Safe US city with 20,000 hotel rooms
Korea Exchange suspends KOSPI programme selling
Climate change momentum fading: Asia-Pacific survey
APEC ministers back G20 trade push
Cybercrime as destructive as credit crisis: experts | Technology |
Tokyo stocks down four percent
Hardline Iraqi MPs shout down US pact in parliament
Myanmar activist follows dad, grandfather to jail
German group SolarWorld bids 1bln euros for Opel
Peru to pursue free trade pact with Japan
After iPhone, consumers seek handsome gadgets | Technology |
Bill Clinton offers to bare all for ethical review: report
Seoul shares track U.S. slide; Hynix sheds 11 pct
Irish the heaviest users of mobile phones: Ofcom | Technology |
Vietnam president hails joint ties in Venezuela visit
South Korean won falls 3.5 pct to near 11-yr low
New Yahoo CEO must be willing to do Microsoft deal | Technology |
S.Korea FSC urges c.bank to buy company papers -report
Suspected US attack kills 6 in Pakistan
Bangladesh poll to go ahead despite boycott threat
Yen, dollar gain as more market turmoil erupts
Global chip sales forecast to drop 5.6 percent in 2009 | Technology |
NZ stocks open 1 percent lower as Wall St tumbles
Microsoft: New software not Symantec, McAfee rival | Technology |
Adapt to survive financial turmoil: Renault-Nissan boss
Beijing will not restrict car sales, say officials: Chinese state media
Twilight fans have sky-high hopes for movie | Entertainment |
Hugh Jackman named People's Sexiest Man Alive | Entertainment |
Indonesian leader seeks 'strategic' ties with US
McCartney, Guns N' Roses albums to launch on MySpace | Entertainment |
Next deadline in actors dispute: awards season
Winona Ryder in good health after flight illness | Entertainment |
JI leader testifies in Indonesian trial
Hollywood ponders global warming
CSI dilemma: keeping corpses fresh | Entertainment |
15-year-old girl dies of bird flu in Indonesia
Blink-182 members finally reconnecting | Entertainment |
Carla Bruni says no hidden messages in new album | Entertainment |
Former child soldier Jal uses rap to spread peace | Entertainment |
Counter suit filed over Project Runway rights | Entertainment |
Rufino Tamayo fetches 6.8 million at Sotheby's
'Impressionism' sets a March 12 Broadway opening
Comedy writer Irving Brecher dies at 94
Next deadline in actors dispute: awards season
S’pore ranked 16th most expensive shopping location in the world
One killed, 21 wounded in Bangkok blast: emergency services
Crackdown on prostitution sparks criticism
Van Der Beek back creekside in North Carolina
Paris Hilton and Benji Madden split after 9 months
Malkovich to film documentary about migrants
Blast kills 1, wounds 23 at Thai PM's office
Chi-X may open exchange in Singapore in 2009 -paper
US 'dark side' raised in Pakistani scientist case
Blast kills 1, wounds 23 at Thai PM's office
China's Hu keeps up courtship with Peru deal
Talks underway with pirates to free Saudi super-tanker
Athletics-World champion to pound streets in Singapore marathon
Last-gasp Australia take huge step towards World Cup
Storm dumps 8 inches of rain on east Australia
RPT-GLOBAL MARKETS-Stocks hit 5-½ yr lows on economic fears
Chinese 'Bill Gates' booed by angry Peruvian textile workers
Sri Lanka takes Tiger defences, kills scores: defence ministry
Alleged bank robber also faces drug charge
Sri Lanka says it captured key rebel defense line
Deadly flash floods hit storm-battered Australian city
Malaysian island may lose heritage status over building row: report
Bollywood film brings homosexuality out of closet
Police to end restrictions on ex-Gitmo detainee
DR Congo's Nkunda attacks China to boost political kudos: analysts
South Pacific search for 29 missing fishermen
Activists send more leaflets to NKorea despite pleas, threats
Consumption of illegal sex enhancement drugs may cause brain damage
Israeli leaders make secret visit to Jordan: report
Somali politicians fuel piracy, says African Union | International |
US condemns Al-Qaeda Obama insult
HK man jailed after losing Chinese Internet bet: state media
Thai protesters blame government for grenade attack | International |
Is superfood omega-3 keeping its promise?
Pakistani general calls for halt to missile strikes | International |
Explosion kills Hamas man in Gaza | International |
Protest-hit China says job stability top priority | International |
France charges Rwanda aide amid Kigali protests
Japanese missile defense test fails off Hawaii | International |
China at last tries to report the news first | International |
US military deaths in Iraq war at 4,200
US diplomat to visit South Korea next week
Australia Guantanamo inmate breaks silence | International |
Australia to lift controls on former Guantanamo convict
US seeks 300 billion dlrs from Gulf states: report
Verizon Wireless bets on Storm for holiday season | Technology |
Japan stocks dive 6.9 percent after US sell-off
Sri Lanka says it captured key rebel defense line
Yahoo, T-Mobile announce mobile search deal | Technology |
Southeast Asia winning Malacca Straits battle for now: watchdog
SKorea's Samsung says it wins 1.4 bln dlr order
China announces tax cuts to help textile industry
High-street shopping losing appeal in plugged-in Asia | Technology |
China to overhaul battered dairy industry
Seoul shares down 6.7 pct, as banks, Hynix tank
Police drop restrictions against terror convict
GM launches 'product offensive' in China: state media
Hotel plan threatens Malaysia city's UNESCO status
U.S. woman posed as teen online, teased girl: attorney | Technology |
Asia-Pacific nations tackle economic crisis
Taiwan shares tumble 4.5 pct on Wall Street rout
Microsoft: New software not Symantec, McAfee rival | Technology |
S.Korea won at 11-yr closing low on recession woes
Seoul shares down 6.7 pct, as banks, Hynix tumble
Hugh Jackman named People's Sexiest Man Alive | Entertainment |
Paris Hilton and Benji Madden split after 9 months
Movie will show White House butler did it all | Entertainment |
Indie studio counting on Twilight success | Entertainment |
Brad Pitt producing reporter's fake-fed story | Entertainment |
Sundance to open with Australian claymation movie | Entertainment |
Young vampires and heroic dog set to boost box office | Entertainment |
Holy Land excavation digs into Mideast rifts
U.S. National Book Awards go to slave, outlaw books | Entertainment |
SKorea's military teed off with golfing officers: officials
Matthiessen wins National Book Award fiction prize
High-street shopping losing appeal in plugged-in Asia
S’pore stem cell researchers score breakthrough for diabetes treatment
Strike shuts down Kathmandu after alleged Maoist murders
SKoreans float more propaganda leaflets into North
Philippine military send medical teams to fight typhoid outbreak
Protest over killings shuts down Nepal's capital
Nielsen survey shows consumer confidence in Singapore at all—time low
Grim economic news pulls oil prices lower
Cadbury chocolate bar recalled as precaution
Australian adult industry flirts with politics
Cambodia will not 'wage war' with Thailand over border: PM
Blast kills 1, wounds 29 at Thai PM's office
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01