Wednesday, April 7, 2010
Oil mixed in Asia
8:33 PM | 
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SINGAPORE: Oil prices were mixed in Asian trade Wednesday ahead of a closely watched government report on US energy stockpiles, analysts said.
New York's main contract, light sweet crude for delivery in May, shed four cents to 86.80 dollars. The benchmark futures contract briefly topped 87.09 dollars on Tuesday, the highest level since October 9, 2008.
Brent North Sea crude for May added two cents to 86.17 dollars. Analyst said focus was shifting to demand fundamentals ahead of the US Energy Information Administration (EIA) report due later Wednesday after a swathe of economic data last week triggered a sharp jump in prices.
It also kept its global demand growth forecast at 1.5 million barrels per day for 2010, after two consecutive years of decline.
New York's main contract, light sweet crude for delivery in May, shed four cents to 86.80 dollars. The benchmark futures contract briefly topped 87.09 dollars on Tuesday, the highest level since October 9, 2008.
Brent North Sea crude for May added two cents to 86.17 dollars. Analyst said focus was shifting to demand fundamentals ahead of the US Energy Information Administration (EIA) report due later Wednesday after a swathe of economic data last week triggered a sharp jump in prices.
It also kept its global demand growth forecast at 1.5 million barrels per day for 2010, after two consecutive years of decline.
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