25 Nov '11, 2am

Oil mixed in Asia: SINGAPORE: Oil prices were mixed in Asian trade Friday as a slump in US crude inventories was...

SINGAPORE: Oil prices were mixed in Asian trade Friday as a slump in US crude inventories was offset by economic concerns over Europe and China, analysts said. New York's main contract, light sweet crude for delivery in January gained 30 cents to $96.47 a barrel. Brent North Sea crude for January delivery slipped 40 cents to $107.38. Crude markets were indecisive coming off data from the US Department of Energy (DoE) showing a sharper than expected fall in US stockpiles against weaker global economic diagnoses, Barclays Capital said in a report. "Oil prices remain largely range-bound with the tug-of-war between solid fundamentals and faltering macroeconomic picture continuing," it stated. "The latest DoE data shows a sharp fall in crude inventories... (but) the pressure from uncertainty concerning the euro area, China and global growth in general is likely to weigh on pric...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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