SINGAPORE : Oil prices slipped in early Asian trade on Monday as global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserves offset forecasts of tighter supplies amid OPEC+ cuts.Brent crude futures dropped 20 cents, or 0.3 per cent, to $75.21 a barrel by 0044 GMT
SINGAPORE : Oil prices slipped in early Asian trade on Monday as global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserves offset forecasts of tighter supplies amid OPEC+ cuts.
Fears of a further slowdown hurting fuel demand grew after data on Friday showed U.S. inflation still outpacing the central bank's 2 per cent target and stoked expectations it would hike interest rates again. Later on Monday, Caixin will release its monthly private sector manufacturing PMI survey for China in June which is expected to drop slightly from May.
"We continue to see upside from current levels as the market is expected to move into deficit in the 2H 2023," NAB analysts said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost guide to starting your own business in Singapore - Singapore NewsIf starting your own business has always been your dream, here’s a step-by-step guide on how to be an entrepreneur and the expenses you must be prepared to bear
Read more »
Six teams to battle for the 2023 FIBA Intercontinental Cup in Singapore - Singapore NewsThe group stage will be played in a round robin format in the first three days of competition. The final day of the tournament on Sep 24 will see the top teams from both groups battling for the championship, with the 3rd and 5th place classification match to be held earlier in the day. All matches will be played at the Singapore Indoor Stadium, Singapore Sports Hub.
Read more »
Ancient Roman Pantheon to start charging entry from MondayROME - Visitors to Rome's Pantheon, one of the ancient world's best preserved monuments, will have to pay a 5 euro (S$7.38) entrance fee from Monday (July 3), Italy's tourism ministry has said. Now a church, the vast cylindrical former temple whose undamaged exterior wall supports a 43.3 metre-high dome, attracts millions of visitors every year, making it one of...
Read more »
476 suicides reported in Singapore in 2022; highest in more than 20 yearsThe number of suicides in Singapore rose by 25.9 per cent last year.
Read more »
476 suicides reported in Singapore in 2022, 98 more than in 2021This figure is a 25.9 per cent increase from 2021's 378 cases. Read more at straitstimes.com.
Read more »
Man seen dancing for cashier staff for free cupcake - Singapore NewsOne or two online users hypothesised that he was trying to impress the cashier instead.
Read more »