Thursday, December 5, 2013
The price of oil surged above US$97 a barrel Wednesday on expectations U.S. crude stockpiles fell. Benchmark U.S. crude for January delivery was up US$1.16, or 1.2 percent, to US$97.20 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract rose US$2.22 to US$96.04 on Tuesday after TransCanada said the southern leg of its Keystone XL pipeline should be operational early next month.
Wednesday, December 4, 2013
Saudi Arabia is satisfied with current crude prices as well as global supply and demand levels, its oil minister said Monday, indicating OPEC will freeze its output ceiling.
World stock markets mostly fell Tuesday as investors awaited a slew of U.S. economic data this week to gauge when the Federal Reserve will start reducing its monetary stimulus.
The dollar rose in Asia Tuesday after better-than-expected U.S. manufacturing figures stoked speculation that the Federal Reserve will start tapering its stimulus before year's end.
The price of oil extended gains to rise above US$94 a barrel Tuesday, ahead of an OPEC meeting and bolstered by encouraging manufacturing data from the world's top two economies.
Tuesday, December 3, 2013
Muted Chinese manufacturing weighed on global stock markets Monday as investors awaited the release of U.S. data that might provide clearer signs about when the Federal Reserve will cut its monetary stimulus.
The dollar weakened in Asia Monday ahead of a raft of U.S. economic data that will provide a better idea of the future of the Federal Reserve's stimulus program.
Oil prices rose Monday as China's manufacturing growth held steady at a modest pace in November.
Monday, December 2, 2013
The Organization of Petroleum Exporting Countries (OPEC) meets this week to decide on the cartel's oil output against a backdrop of slowing crude demand and unrest in member nation Libya.
Friday, November 29, 2013
The price of the digital currency bitcoin soared above US$1,000 for the first time on Wednesday, extending a 400 percent surge in less than a month that some see as a growing bubble in an asset that is still a mystery to many.