Singapore : Oil prices fell on Wednesday, weighed down by ample supplies despite ongoing output cuts by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran.
Brent crude futures were at $78.22 per barrel at 0644 GMT, down 21 cents, or 0.3 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $71.03 a barrel, down 28 cents, or 0.4 percent, from their last settlement.
Despite the dips, both financial oil benchmarks remained close to their November 2014 highs of $79.47 and $71.92 a barrel respectively, reached the previous day.
But there are signs in physical crude markets that may give pause to financial investors.
There are also signs that oil production will rise, especially at majors like ExxonMobil, Royal Dutch Shell , Chevron, BP and Total.
Chinese power company had intended to acquire up to 18.336 billion ordinary shares of K-Electric, representing 66.4...
MARI also successfully drilled and tested another appraisal well in the Mari Ghazij formation located in Mari D&PL
Gold rates decreased by $30 to $2,381 per ounce in the international market
Growing number of Americans have seen their savings dwindle as rising prices squeeze budgets while interest rates stay...
IMF will closely watch the privatization of PIA by the end of June
PSX lays down the groundwork to encourage listed companies to adopt ESG reporting in line with global standards