Tuesday 13 April 2021 ,
Tuesday 13 April 2021 ,
Latest News
  • Banks, FIs to remain closed during lockdown
  • Bangladesh economy shows early signs of recovery amid
  • Bangladesh’s complete lockdown set to begin on Apr 14; notification
  • Global peace turned more challenging amid pandemic: PM
  • Don’t carry passengers in goods-laden transport amid lockdown: Quader
  • Bangladesh logs highest 83 COVID-19 deaths in 24hrs
29 March, 2016 00:00 00 AM
Print

Oil prices rise on lower US rig numbers

AFP

AFP, SINGAPORE: Oil prices edged up in Asia yesterday, recovering slightly from last week’s decline, but analysts said traders would likely delay any big moves until next month’s meeting of key producers.
Hopes for an agreement between Russia, Saudi Arabia and other crude giants to at least freeze output sent both main contracts racing above $40 earlier this month, helped by a dive in the strength of the dollar.
However, some of those gains were chipped away last week as talk of a possible US interest rate rate lifted the dollar—making oil more expensive—and a report showed another jump in US crude stockpiles.
At around 0620 GMT US benchmark West Texas Intermediate was up 50 cents, or 1.27 per cent, to $39.96. Brent was up 45 cents, or 1.11 per cent, at $40.89. Members of the Organization of the Petroleum Exporting Countries (OPEC) and key non-members led by Russia are due to discuss a proposed output freeze at a meeting in Doha on April 17.
Bernard Aw at IG Markets told AFP a dip in the number of US oil rigs in operation provided some buying incentives, although business had been slim due to the long Easter break across most world markets.

Comments


Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting