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May, 31, 2016

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Business > Global Markets
Oil prices eased slightly in Asia Friday after hitting a series of new highs this week, bolstered by a weak U.S. dollar.
 
Oil prices dipped in Asia Thursday as traders took profits after crude costs hit a new high for the year in response to falling U.S. production.
 
The U.S. dollar fell on Wednesday as traders look to a Federal Reserve policy meeting for more clues about its timeline for raising interest rates.
 
Oil prices extended gains in Asia Wednesday as traders await a report on U.S. stockpiles, and some analysts said the market was set for a rebalancing after touching bottom.
 
Oil prices rose in Asia Tuesday, rebounding from sharp losses sparked by a report that Saudi Arabia was close to completing an oilfield expansion.
 
The U.S. dollar weakened against its major peers Tuesday ahead of a Federal Reserve meeting as the shaky global economy weighs on hopes for a summer U.S. rate hike, with a Bank of Japan gathering also in focus.
 
With global economic growth slowing, inflation staying low and digital innovation generating uncertainty, companies are increasingly looking at partnership deals with other firms, even competitors, to boost revenues, consulting firm EY said Monday.
 
Crude prices fell in Asia Monday following a report saying Saudi Arabia could maintain its total production capacity with the expansion of an oilfield, fueling fresh concerns about the global supply glut.
 
Oil prices climbed in Asia on Friday, heading for their third weekly gain after OPEC said it was open to fresh talks on freezing output despite the failure to reach a deal at the weekend.
 
Oil prices built on recent gains Thursday after data showed U.S. production fell to 18-month lows and Iraq pushed for a fresh meeting of crude majors on limiting output.
 
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