Saturday, March 25, 2017 2:49:35 PM - Markets open
VN-INDEX 722.14 +2.58/+0.36%
HNX-INDEX 91.37 +1.47/+1.64%
UPCOM-INDEX 57.52 -0.14/-0.24%
Oil hovers near three-month lows as investors await data
Source: Reuters - 3/14/2017 9:37:43 AM
 (0 ratings. You must sign in to rate.)
Crude oil prices hovered near three-month lows on Tuesday in early Asian trading as investors await key reports and data that may shed light on a supply overhang in the global market.

U.S. West Texas Intermediate crude (WTI) CLc1 edged down 3 cents to $48.37 a barrel by 0026 GMT(8.26 p.m. ET). The contract ended down 9 cents in the previous session after touching $47.90, the lowest since the end of November.

Brent crude futures LCOc1 were down 1 cent at $51.34 a barrel, having settled down 2 cents on Monday after dipping to as low as $50.85.

Prices fell sharply last week as investors worried that swelling U.S. crude supplies would hinder OPEC's efforts to restrict output and reduce a global glut.

Prices had risen after the Organization of the Petroleum Exporting Countries (OPEC) and other major oil producers, including Russia, agreed at the end of November to rein in production by almost 1.8 million barrels per day (bpd) in the first half of 2017.

"It's shaping up to be another fun week in the crude complex, with OPEC releasing its monthly oil market report on Tuesday, swiftly followed by the IEA's monthly oil market report the day after," Matt Smith, analyst at ClipperData, said in a note.

The International Energy Agency releases its closely watched monthly oil market report on Wednesday.

Data from the industry group the American Petroleum Institute on U.S. crude and product stockpiles is also due out later on Tuesday.

Analysts said the slump may not have much further to go now that prices have fallen more than 8 percent since last Monday, the biggest week-on-week drop in four months.
Newer News
24/03 Oil edges up as Saudis cut supplies to U.S., but global glut remains
24/03 Dollar on back foot after U.S. healthcare vote postponed
24/03 Dollar hangs on for U.S. healthcare vote, Asia shares muted
23/03 Oil bounces off November lows, but bloated US stockpiles pressure market
23/03 Dollar limps up from 4-month low vs yen, Trump's healthcare bill in focus
23/03 Slide in U.S. infrastructure stocks sign of 'Trump trade' weakness
23/03 Asia stocks advance, dollar, oil recover from multi-month lows
21/03 Asian shares near 15-month high, dollar soft on less hawkish Fed
21/03 Dollar slumps after Fed Evans reinforces rate outlook
21/03 Oil prices rise on talk that OPEC could extend supply cut
Older News
14/03 Wall Street drifts with eyes on Fed; Intel drops
10/03 Dollar on track for winning week as U.S. jobs data awaited, euro firm
10/03 Asia stocks edge higher, dollar up before U.S. payrolls
10/03 U.S. oil rises after dropping below $50 for first time since December
10/03 Wall Street ends up slightly; energy shares rebound
09/03 Dollar firm in Asia, resource shares on the run
09/03 Dollar stands tall on strong U.S. ADP job data, higher Treasury yields
09/03 OPEC cut 40 percent more in February than pledged in oil deal: Kuwait
09/03 Dow, S&P 500 dip as energy shares tumble
08/03 Dollar advance bogs down, U.S. jobs report comes into view
 
Newsletter Signup
Top Stories
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
CPI below 5% target
At 6.21 per cent, country’s GDP below govt target
Market Update
Last updated at 3:00:00 PM
VN-INDEX 722.14 +2.58/+0.36%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.