Forum Views ()
Forum Replies ()
Read more with google mobile :
Oil falls as investors turn pessimistic
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Singapore
Asia Pacific
World
Oil falls as investors turn pessimistic
AFP - Saturday, June 26
Send
IM Story
Print
Oil falls as investors turn pessimistic
SINGAPORE (AFP) - – Oil dipped in afternoon Asian trade Friday, surrendering earlier gains as investor mood turned pessimistic, analysts said.
New York's main contract, light sweet crude for August delivery, fell 18 cents to 76.33 dollars a barrel.
Brent North Sea crude for August delivery dropped 38 cents to 76.09 dollars a barrel.
Both contracts were higher in earlier Asian trade as investors had focused on the better-than-expected US job claims data released Thursday by the Labor Department.
"There have been some concerns because of the Fed's comments about the US economy which is still struggling to recover," said Victor Shum, a Singapore-based analyst with energy consultancy Purvin and Gertz.
However, investors drew positives from the latest US labour data, which could augur well for oil demand in the world's largest energy-consuming nation, Shum told AFP.
Data from the Labor Department showed new claims for US jobless benefits fell to 457,000 in the week ending June 19, a decrease of 19,000 from the previous week's revised figure of 476,000.
Most economists had expected claims to fall to 460,000.
"So the report beat expectations and there are still some elements of data indicating recovery in the US," Shum said.
Investors' fluid perceptions of the global economy, especially on the US, will dictate the movement of crude oil prices, analysts from the Commonwealth Bank of Australia said.
"The price action in oil markets over the past week is a reminder that oil market fundamentals remain soft for now, leaving oil prices vulnerable to shifting perceptions of the international economic outlook," they said in a commentary.
On the US economy, the data have so far been mixed, they added.
The Federal Reserve had raised concerns about the pace of the US economic recovery on Wednesday after it held key interest rates at historic lows of between zero and 0.25 percent.
The Fed had maintained its federal funds rate target at these levels since December 2008 to help the economy recover from its worst recession in decades.
Household spending, which usually accounts for two-thirds of the country's economic activity, "is increasing but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit," the Fed said.
Recommend
Send
IM Story
Print
Related Articles
Best Places In Asia To Be A Landlord Forbes - 20 minutes ago
US-BUSINESS Summary Reuters - 26 minutes ago
Corrected: Lawmakers agree on historic Wall St reform at dawn Reuters - 26 minutes ago
Pressure mounts to dilute bank capital plan Reuters - 38 minutes ago
GLOBAL MARKETS-World economy saps equities; dollar rises Reuters - 50 minutes ago
News Search
Top Stories
Brazil, Portugal 0-0 at halftime
BP shares plunge near 14-year low on liabilities
Clijsters reaches Wimbledon fourth round
Paws for thought: Oscar the bionic cat
Amputee cat gets bionic legs
More Top Stories »
ADVERTISEMENT
Most Popular
Most Viewed
Most Recommended
Aussie men shoot each other in buttocks 'to see if it hurts'
Swingers at risk of sexual disease: Dutch study
Longest ever tennis match resumes at Wimbledon
Scientists make progress in growing new human lungs
Disgraced millionaire lobbyist takes pizza job
More Most Viewed »
Aussie men shoot each other in buttocks 'to see if it hurts'
More Most Recommended »
Elsewhere on Yahoo!
Financial news on Yahoo! Finance
Stars and latest movies
Best travel destinations
More on Yahoo! News
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
Also on Yahoo
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
Site Highlights
Singapore
Full Coverage
Most Popular
Asia Entertainment
Photos
World Cup 2010
Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
Other News on Friday, 25 June 2010 Still time for Iran nuclear fuel swap
Obama: 'Russia belongs in the WTO'
Paris hosts cyber-shelter for battered bloggers
French 'Hannibal Lecter' gets 30-year jail term
US-TECH Summary
Canada police halt suspicious car near G20 summit site
|
US ambassador to Afghanistan: Time to move on
Second 2010 hurricane forms off Mexico
Fans scramble for Apple's iPhone upgrade
US ambassador to Afghanistan calls for unity
Longest ever tennis match resumes at Wimbledon
Google assessing China's new rule on web mapping
Katy Perry Spends Third Week Atop Billboard Hot 100 With "California Gurls"
Facebook to take on Asian rivals to reach billion user mark
7 Afghan construction workers killed in bombing
Swingers at risk of sexual disease: Dutch study
Suspected Jamaican drug lord faces handover to U.S.
|
Greek police minister escapes bomb
|
French Obama hacker escapes jail
Tech companies seeking business in Syria
Twitter settles privacy charges with U.S
Still time for Iran nuclear fuel swap: think tank
|
China marks anti-drug day with executions: state media
Pakistani court sentences Americans for terrorism
Nokia to use Linux for flagship N-series phones
Israel's Likud backs West Bank settlement growth
Nokia to use Linux for flagship N-series phones
Frenchman who ate cellmate's lung gets 30 years jail
|
Alleged Jamaica drug lord extradited to US: official
Israel's Likud approves West Bank settlement growth
Paraguay into last 16, Kiwis leave with pride
Nike Posts Growth In Q4, Full Year Earnings
Iranian Guards Crossed Into Iraq To Capture US Hikers
Illinois State Police Dismiss First Muslim Chaplain
New Jobless Claims, Continuing Claims Fall More Than Expected
Katy Perry Spends Third Week Atop Billboard Hot 100 With "California Gurls"
Ben Stiller Creating Web Show Starring His Parents
Sino-Canadian ties of 'growing strategic importance': Hu
Ex-media baron Black's fraud conviction set aside
Japan PM kicks off campaign season
Myanmar sees 'dramatic' surge in drug seizures: UN
N.Korea vow to restore honour against Ivory Coast
Debate Heightens About University Of Texas Dorm Named After Klansman
Gucci, Fendi present first children's collection in Florence
US-ENTERTAINMENT Summary
Justin Bieber, Usher To Appear On "20/20" Michael Jackson Special
Oil Spill Cleanup Captain Commits Suicide On Vessel
A Minute With: Taylor Lautner from "Twilight"
Art missing since 1945 on show at German palace
US, EU Sign "Second Stage" Air Transport Agreement
Cuba's Buena Vista Social Club to miss U.S. show
YouTube, now with instant vuvuzela sound
|
Polaroid action nets 12.5 million dollars
Drool-worthy tips on new Paris foodie website
Internet bosses set to approve .xxx for porn sites
|
Bharti to invest 150 million dollars in Zain Zambia
Glastonbury readies for music, mud and Gorillaz
Apple's iPhone 4 makes world debut
Alibaba.com to buy U.S. e-commerce site Vendio
|
Stability back in Vietnam forex market: state bank
New Japan PM to make global debut at Canada summits
A Minute With: Taylor Lautner from Twilight
|
Santana recruits Nas and Daughtry for covers album
|
YouTube, now with instant vuvuzela sound
|
Killers' singer Flowers to debut album in September
|
Cuba's Buena Vista Social Club to miss U.S. show
|
US seeks to reassure allies after McChrystal fired
Bank of England warns of eurozone debt crisis dangers
US Congress approves new Iran sanctions
Burgers, Boeings and bonhomie as Obama meets Medvedev
Will video sites stop filtering content?
U.S. Congress OKs sanctions on Iran's energy, banks
Arrest in N.Ireland over 'Basque separatist probe'
Jamaica turns over alleged drug lord to U.S.
|
Apple's iPhone 4 makes stellar world debut
US lawmakers race to secure Wall Street reforms
Israel offers to let Europe diplomats visit Gaza-official
Gadhafi, Zapatero 'in talks' on next EU-Africa summit
North Korea issues no-sail warning; missile eyed
|
Sony's PlayStation near deal with Hulu: report
Scientists make progress in growing new human lungs
Russia to buy 50 Boeing 737s worth four billion dollars
Australian new PM reassures Obama on Afghanistan
Hong Kong passes historic reforms amid muted protest
|
Venture firm Accel pours 11 million dollars into GetJar
Blackberry maker RIM rings up record smartphone sales
US ambassador to Afghanistan: Time to move on
Obama, Democrats prepare for campaign with iPad, iPhone apps
Alibaba.com to buy U.S. e-commerce site Vendio
Twitter settles with US regulators over privacy breach
Sony's PlayStation near deal with Hulu: report
Stalin statue removed in Georgian home town
|
"Glee" Cast Members Talk UK Tour, Michael Jackson With Jonathan Ross
Police: Calif couple tried to sell baby at Walmart
Hong Kong passes democratic reform package
US, Russia Reiterate Commitment To Bring Peace To Afghanistan
Tibet environmentalist jailed for 15 years: lawyer
President Obama Signs West Virginia Disaster Declaration
Disappointment, pride for fans as NZ bows out
Severe storm shatters largest city in Connecticut
U.S. High Court Rules Honest Service Fraud Law Covers Only Bribery, Kickbacks
Whalewatching worth billions and booming: study
Russian President Gets Taste Of American Food, Calls It Not Healthy
"Harry Potter," "Paranormal Activity" Sequel Trailers To Debut Before "Eclipse"
U.S. Markets Continue Decline As Retailers, Financials Weigh
Palin fund illegal; donors will get money back
S.Korea places 65 firms under restructuring plans
Global Weather-Celsius
Seoul shares fall 0.6 pct on econ jitters
Sony's PlayStation near deal with Hulu: report
|
Taiwan stocks end down 1.5 pct; property slumps
PAKISTAN
China sets strong yuan rate ahead of G20
Will video sites stop filtering content?
|
China's yuan move too soon to judge: Obama
Seoul shares fall 0.6 pct on econ jitters
New Australia PM tells Obama committed to Afghan war
N.Korea issues no-sail warning; missile eyed-paper
From the Bronx to Brooklyn, pianos take over New York
Fans gather for Michael Jackson death anniversary
S.Korea won breaks support line on recovery doubt
Philippines' kidney register to fight trafficking
Taiwan raises rates on NCDs after rate hike
New troubles at Al Gore's Current TV
S.Korea raps 'reckless' N.Korea at war anniversary
N.Korea declares 'no sail' zone off west coast
Channing Tatum attached to sci-fi romance "Ion"
North Korea issues no-sail warning; missile eyed
"Toy Story 3" set to crush Cruise and Sandler movies
Goldman Sachs gets Weinstein films in debt pact
Blue Samurai draft new chapter for Japan
War film "Restrepo" gives ground view of Afghan war
Pubs urged to stock up booze for England vs Germany
Santana recruits Nas and Daughtry for covers album
Toy Story 3 set to crush Cruise and Sandler movies
|
War film Restrepo gives ground view of Afghan war
|
Goldman Sachs gets Weinstein films in debt pact
|
New troubles at Al Gore's Current TV
|
Channing Tatum attached to sci-fi romance Ion
|
Paws for thought: Oscar the bionic cat
Israel marks four years of 'cruel' Shalit captivity
G8 nations to take stock of development needs
|
Amputee cat gets bionic legs
Clijsters reaches Wimbledon fourth round
Kyrgyz troops vote in first stage of referendum
|
Bodies found beheaded in southern Afghanistan
BP shares plunge near 14-year low on liabilities
Pacific Hurricane Darby now a major storm off Mexico
|
Shakira To Release New Fragrance "S"
Former Transit Officer Testifies In Own Murder Trial
Germany calls for bank tax ahead of G20
Hurricanes In Eastern Pacific Ocean Pose No Threat While Forecasters Watch Atlantic Ocean Region
Police find 11 beheaded bodies in Afghan south
|
Are Americans embracing the beautiful game at last?
Drunk Man Found Mile Offshore Floating In Pool Chair
New York's V, W Subway Lines Make Final Runs Friday
Court rules no right to gay marriage in Europe
|
BP says 2.35 billion dollars spent on oil spill
Vatican protests to Belgium over police raids
|
Scientists Implant Functional Lung Tissue In Rats
Milwaukee Teen Dies In Parking Garage Collapse
Red Wine Ingredient May Prevent Blinding Diseases
Indonesia says militants aiming at embassy, police
|
Study: Canadian, U.S. Health Care At The Bottom Among 7 Industrialized Nations
Yemen police, militants clash during raid in Aden
|
Swollen river threatens major city in central China
Stalin statue removed in Georgian home town
|
UN war crimes panel chief 'criticises S.Lanka ban'
Outcry as Hong Kong adopts democratic reforms
Australia's Gillard unlikely to shift foreign policy
Japan sumo gambling scandal highlights yakuza links
Hong Kong passes "historic" reforms amid muted protest
Ambani brothers sign revised gas deal
Oppenheimer sees iPhone 4 sales of 1.5 million on first day
|
Pakistan to monitor Google, others for blasphemy
|
Suicide-hit Foxconn hands over staff dormitories
|
Pakistan stocks flat ahead of fiscal year-end
Asian markets extend losses after Wall Street fall
Man and didgeridoo open Glastonbury music festival
Mizuho Financial announces $9.6 billion share sale
Michael Jackson fans pay tribute to billion dollar man
Oil falls as investors turn pessimistic
Are Americans (finally) embracing the beautiful game?
S.Korea agency to buy $3.7 bln savings bank loans
S.Korean banks select 65 firms for restructuring
Japan fans hold sleepover to mark Jackson death
Michael Jackson fans pay tribute to billion dollar man
|
A Minute With: Taylor Lautner from Twilight
|
Man and didgeridoo open Glastonbury music festival
|
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