Oil prices eased in early Asian trade on Tuesday as weak manufacturing data from...
SINGAPORE - Oil prices eased in early Asian trade on Tuesday as weak manufacturing data from Europe and Japan focused market attention on a gloomy outlook for demand, though lingering uncertainty over Saudi supply disruption braked the drop.
Brent crude futures LCOc1 fell 29 cents to $64.48 a barrel by 0154 GMT, while U.S. West Texas Intermediate futures CLc1 were at $58.40, down 24 cents. Reuters reported that Saudi Arabia has restored more than 75% of crude output lost after attacks on its facilities and will return to full volumes by early next week. But the Wall Street Journal reported on Monday that repairs at the plants could yet take months longer than anticipated.
Meanwhile a preliminary Reuters poll found on Monday that U.S. crude oil and distillate stockpiles were expected to have dropped last week.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian shares firmer on improved Sino-U.S. trade tone, oil up 1%Asian shares started higher on Monday on hopes of an interim Sino-U.S. tariff de...
Read more »
Oil gains on Saudi supply disruption, Mideast tensionsOil prices rose to their highest in two sessions on Monday amid concerns about o...
Read more »
UK believes Iran was behind Saudi oil attacks: PM JohnsonBritain believes Iran was responsible for an attack on Saudi oil facilities and ...
Read more »
Oil gains more than 1% on Saudi supply doubts, Mideast tensionsOil prices rose more than 1% on Monday on doubts over how fast Saudi Arabia can ...
Read more »
Saudi Arabia to restore full oil output by next week: sourceSaudi Arabia has restored more than 75% of crude output lost after attacks on it...
Read more »