Oil prices rose above $85 a barrel Wednesday in Asia after a report showed U.S. crude supplies fell more than expected, suggesting demand may be improving.
Oil prices rose above $85 a barrel Wednesday in Asia after a report showed U.S. crude supplies fell more than expected, suggesting demand may be improving.
Oil fell further in Asian trade Monday as worries about demand weighed on investors still spooked by weak economic data from the US and China, analysts said.
LONDON - Oil fell to a 16-month low below $98 per barrel on Friday as weak jobs data, poor manufacturing data from China and a spiralling euro zone debt crisis deepened worries over the prospects for global economic growth.
Brent oil prices sank under $100 a barrel on Friday for the first time in eight months, hit by weak Chinese and US data and eurozone debt tensions centred on Spain.
Oil fell towards $103 on Thursday as disappointing data from the United States and India fuelled nervousness around the global demand outlook, compounding eurozone worries and putting oil on course for its biggest monthly percentage drop in two years.
Brent crude oil rose above $107 per barrel on Monday as fears of a euro zone break-up.
Oil rebounded in Asian trade Thursday as investors went bargain hunting after prices fell below $90 a barrel the previous day, analysts said.
Oil prices slipped below $107 a barrel on Friday and hit a 2012 low as investors fought shy of riskier, growth-oriented assets on fears that Greece would leave the euro, and after a downgrade of 16 Spanish banks by Moody’s added to the contagion gloom.
Oil prices fell to near $92 a barrel Friday in Asia, extending a sharp two-week selloff as the latest twists in Europe’s debt crisis added to a gloomy economic outlook.
Oil prices hovered below $95 a barrel Tuesday, near a five-month low, as concerns about Europe’s debt crisis offset encouraging growth figures in Germany.