NEW YORK: Oil prices fell more than 2% to below $79 a barrel on Monday on concerns that a sluggish economic recovery will keep fuel demand low. Investors scaled back their commodities holdings following a recent rally for raw goods. Equities fell and the US dollar firmed against other currencies, after touching a 14-month low earlier on Monday. US crude for December delivery fell $1.65 to $78.85 per...
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Rupee today weakened by 45 paise at 46.65/67 against the dollar on heavy buying of the greenback by dealers, traders at the interbank foreign exchange (forex) said here.The local unit opened lower by 20 paise at 46.40 in the opening trade. Later, it could not recover througout the session and ended negative at 46.65/67 per USD, down by 45 paise.A wide oscillation was witnessed in the rupee as it recorded...
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Oil prices fell more than 2% to below $79 a barrel on Monday on concernsthat a sluggish economic recovery will keep fuel demand low.Investors scaled back their commodities holdings following a recentrally for raw goods. Equities fell and the US dollar firmed against othercurrencies, after touching a 14-month low earlier on Monday. US crude forDecember delivery fell $1.65 to $78.85 per barrel by 22:00...
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Oil prices dipped below $80 a barrel Thursday in Asia as the U.S. dollar strengthened.Benchmark crude for December delivery was down 60 cents to $79.80 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 80 cents to settle at $80.40 on Wednesday.Crude has traded near $80 a barrel for the last few weeks as investors watch a volatile dollar...
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SINGAPORE: Oil fell towards $79 a barrel on Thursday, after a steep decline in US crude inventories sent prices up 1 per cent the previous day, as traders look to the fall in equities markets and firming dollar to take profits. The US dollar inched up as short-term investors sold into a rally in the euro and higher-yielding currencies such as the Australian dollar, following a repeated pledge by the...
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LONDON: Oil fell more than $1 per barrel towards $77 on Tuesday as the dollar rose against a basket of currencies and as stock markets slipped in Europe and Asia. The dollar index rose 0.5 percent as the euro hit a four-week low. Oil often weakens when the dollar rises, partly because crude is priced on international markets in the U.S. currency. European shares fell more than 2 percent to a one-month...
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SINGAPORE: Oil prices rose above $78 a barrel on Monday in Asia as a weaker US dollar offset signs of slumping consumer demand. Benchmark crude for December delivery was up 94 cents to $78.37 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude has traded inversely to the dollar for months as investors buy commodities such as oil as a hedge against inflation...
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dollar ended cheaper against the rupee at Rs 46.20/21 per dollar and the pound sterling also finished lower at Rs77.67/69 per pound at the close of the Interbank Foreign Exchange (Forex) Market here today.©2009...
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SINGAPORE: Oil fell below $80 a barrel on Thursday, after a steep decline in US crude inventories sent prices up 1 per cent the previous day, as traders look to the fall in equities markets to take profits despite the weak dollar. The US dollar was moving towards recent multi-month lows on a basket of currencies on Thursday, after the US Federal Reserve reiterated its commitment to keep rates low for...
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NEW YORK: Oil prices tumbled Friday as official data showed unemployment hitting a fresh 26-year high in the United States, raising fresh doubts about the economic recovery and energy demand. Prices had risen back above 80 dollars a barrel on Friday ahead of the jobless numbers. New York's main contract, light sweet crude for delivery in December dropped 2.12 dollars to close at 75.87 dollars a barrel,...
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