Subscribe free to our newsletters via your
. Energy News .




ENERGY TECH
Oil down in Asia ahead of China trade data
by Staff Writers
Singapore (AFP) Aug 6, 2012


Oil prices were down in Asia Monday with traders taking profits from a rally last week as they awaited the release of Chinese trade data later in the week, analysts said.

New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in September, fell five cents to $91.35 a barrel in the afternoon and Brent North Sea crude for September delivery shed 36 cents to $108.58.

Crude prices were weaker "after rallying on a stronger-than-expected US jobs report, while the market awaited Chinese trade data due later this week for trading cues," Phillip Futures said in a report.

A crude rally on Friday saw prices on the WTI jumping more than four dollars to pass $91 a barrel, while Brent rose more than three dollars to within striking distance of $109.

The ebullient show was largely due to official data released Friday which showed the United States -- the world's largest oil consumer -- added 163,000 jobs in July, beating forecasts for a gain of 100,000, analysts said.

On traders' watchlist for this week is the release of a slew of economic data from China which will provide an update on the economic health of the world's largest energy consumer and its corresponding energy demand.

China's June trade data released last month showed demand for imports fell more sharply than expected, leading to a widening of the trade surplus and stoking concerns over a slowdown in the world's second largest economy.

China is set to release its July trade figures this Friday.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








ENERGY TECH
Somali war linked to brewing oil dispute
Mogadishu, Somalia (UPI) Aug 05, 2012
The military offensive by Kenyan and Ethiopian forces against Islamic al-Shabaab fighters is gearing up for an assault on the Indian Ocean port of Kismayo that's increasingly seen as a key element in a brewing dispute over oil and natural gas. Kismayo, in southern Somalia near the Kenyan border, is al-Shabaab's most important base, through which it gets its supply of weapons and much of it ... read more


ENERGY TECH
S. Korea issues power shortage alert amid heatwave

China can learn from India's blackouts?

Scottish firth dubbed marine energy park

EDF first-half profits up on hydro, renewables

ENERGY TECH
Chinese state media blast US over sea criticism

Detentions as Vietnam breaks up anti-China protest

Sleepy tropical island belies bold China sea claims

Research could lead to improved oil recovery, better environmental cleanup

ENERGY TECH
Wales wind power line plans draw protests

Offshore use of vertical-axis wind turbines gets closer look

SeaRoc to provide full installation services on Narec's Offshore Anemometry Hub

Italian police seize giant wind farm in mafia probe

ENERGY TECH
SolarCraft Brings Solar to Altamont Apartments

Walmart Unveils 100th Solar Installation in California

Tecta Solar Completes Solar Photovoltaic Installation at Augustine Casino

REC rolls out its industry-leading certification program for solar installers in the US

ENERGY TECH
carboNZero Holdings and Energy and Technical Services Limited (ETSL) form Strategic Partnership

AREVA joins the World Association of Nuclear Operators

AREVA receives NRC approval of new Simulation Validation Test for Digital I and C System

Australia inks UAE nuclear deal

ENERGY TECH
German National Academy of Sciences issues a critical statement on the use of bioenergy

U.S, Australian navies focus on new fuels

Strategies to improve renewable energy feedstocks

Brazil to build first algae-based biofuel plant

ENERGY TECH
China's Long March-5 carrier rocket engine undergoes testing

China to land first moon probe next year

China launches Third satellite in its global data relay network

Looking Forward to Shenzhou 10

ENERGY TECH
Climate change to blame for extreme heat: NASA scientist

Mapping the future of climate change in Africa

Cuts in super greenhouse gas stalled by China, India, and Brazil

India's puny monsoon sparks fears of drought




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement