The markets were battered last month as the virus strangled demand. FMTNews OilPrice
SINGAPORE: Oil prices were down in Asian trade Monday after big gains last week on signs of a demand revival as some governments ease coronavirus lockdown measures.International benchmark Brent was changing hands at US$30.27 a barrel, down 2.26%.
“The US shale oil industry has been hit hard by the lower prices, with drilling activity already curtailed sharply.” But the market found support after some countries from Asia to Europe began rolling back restrictions as they passed the peak of their outbreaks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Court freezes RM169m worth of assets belonging to Asia Media founder Ricky Wong | Malay MailKUALA LUMPUR, May 10 — The Kuala Lumpur High Court has granted an interim order for the Securities Commission Malaysia (SC) to freeze the assets of Datuk Wong Shee Kai, or better known as Ricky Wong. The grant was made on May 8, 2020 and stems from SC’s suit against the defendants in relation...
Read more »
Local entrepreneur makes 'Forbes 30 under 30 Asia' listTo get JomRun off the ground, Chang Yi Hern worked multiple jobs and even slept in his friend’s storeroom to save money on rental. FMTNews Entrepreneur
Read more »
Covid-19 virus continues to rage across Asia-Pacific as countries report rapidly rising casesHONG KONG: The Covid-19 (coronavirus) pandemic continues to rage across the Asia-Pacific, as Bangladesh, Indonesia, Pakistan, Nepal all witnessed rapidly rising cases over the weekend.
Read more »
Oil prices fall 1% as glut weighsNEW YORK: Oil prices opened about 1% lower on Sunday (Monday morning in Malaysia).as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even as some governments began to ease lockdowns.
Read more »
Hit by oil crash, Indonesia set to delay B40 biodiesel, stay with B30 for nowJAKARTA: Indonesia is likely to delay plans to raise bio-content in palm oil-based biodiesel to 40%, and keep going with an already ambitious 30% content, a senior official said, amid speculation that low crude prices could force a government re-think.
Read more »
US oil workers ride out demand drop | The Malaysian InsightTexas – country of ‘black gold’ – shrugging off fluctuations in prices, unemployment.
Read more »