Oil


US jobs numbers keep stocks higher

US jobs numbers keeps stocks higher

(ATF) The blowout US non-farm payrolls data last week sent Asian shares higher Monday as investors bet a strengthening American economy will benefit global markets.Japan's Nikkei rose 0.8% while MSCI's broadest index of Asia-Pacific shares outside Japan slipped slightly, with China and Hong Kong closed for Tomb-Sweeping day and Australia …

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Sinopec fights back against illegal and tax-free oil products

Sinopec fights back against illegal and tax free oil products

(ATF) For years, China’s three state-run oil majors have complained about what they say is Beijing’s unfair tax system levied against their finished oil products that often eats into their profits. Adding to the quandary is what they claim are smaller and even illegal players in the industry that avoid …

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Suez grounding threatens oil supply as insurance claims loom

Suez grounding threatens oil supply as insurance claims loom

(ATF) As the 224,000-tonne container ship Ever Given lay stricken astride the Suez Canal, bringing a significant portion of global trade to a halt, the reverberations from its grounding continued to make waves, threatening the ships' owners with huge insurance claims.Oil prices fell about 2% on March 24 as worries …

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Markets upbeat on recovery prospects

Markets upbeat on recovery prospects

HONG KONG: Asian markets were broadly higher on recovery hopes but Hong Kong and mainland China markets underperformed after the US SEC started a process that could force Chinese companies to delist from US exchanges if they did not comply with US auditing standards.But oil remained on edge as efforts …

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US slips past Saudi Arabia as India's second biggest oil supplier 

US slips past Saudi Arabia as India's second biggest oil supplier 

India imported more than half a million barrels of oil a day from the United States last month, making it the country’s second biggest supplier.Imports from the US – the world's top producer – rose 48% to a record 545,300 bpd in February, accounting for 14% of India's overall imports …

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Higher oil prices dance to the tune of rising inflation

Higher oil prices dance to the tune of rising inflation

(ATF) Global economic recovery hopes and production cuts have helped oil prices rise to their highest level in more than a year. For emerging market (EM) sovereign energy producers and exporters, this should help in two distinct ways: first, by lowering fiscal funding needs; and, second, by improving their current …

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Oil spike, inflation fears sour mood

Oil spike, inflation fears sour mood

(ATF) Hong Kong: Inflation fears continued to haunt investors as investors looked past the US stimulus and upbeat data from the world’s largest economy and braced for higher interest rates.Oil markets were rocked after the world’s largest crude terminal in Saudi Arabia was attacked on Sunday by a drone from …

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China counts the cost at pumps of continued oil price rises 

China counts the cost at pumps of continued oil price rises 

(ATF) International oil prices continued to rise sharply during the latter part of February prompting a rise in fuel costs in China this month.On average, oil prices in London Brent and New York WTI rose by 8.57% over the previous price adjustment cycle in the early part of the month …

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Steepening yield curve halts risk rally 

Steepening yield curve halts risk rally 

(ATF) HONG KONG - Asian markets took a breather after the recent, sharp rally as investors booked profits and weighed the implications of a steepening yield curve.Oil-importing Asia analysed the impact of rising crude prices after hitting 13-month peak on Thursday before cooling off.Japan’s Nikkei 225 index slipped 0.72%, Australia’s …

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Glencore reinstates dividend amid post-pandemic optimism

Glencore reinstates dividend amid post-pandemic optimism

(ATF) Glencore reinstated its dividend and flagged possible further payouts on the back of strong commodity prices, signalling an optimistic market for global miners and commodities brokers.The commodities trading giant recommended a distribution of $0.12 per share for 2021, representing a bigger than expected total payout of $1.6 billion, having …

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