Brent Crude News
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Palm oil may decline about 15 percent as output increases in Indonesia and Malaysia, rebuilding stockpiles in the world’s two largest producers, according to Dorab Mistry, director at Godrej International Ltd.
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Gasoline declined on speculation that higher prices at the pump will temper demand and supplies will increase as refiners complete repairs.
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Hedge funds and other money managers raised bullish bets on Brent crude to their highest level in six weeks, according to data from ICE Futures Europe.
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After paying for stakes in European companies, landmarks in London, uprisings in the Middle East and a soccer title in France, Qatar may be getting ready to go home.
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West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption.
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Brent crude advanced for a third day as European car sales gained amid signs that U.S. economic growth will accelerate, boosting speculation that oil demand will increase.
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The premium traders in Asia are paying for the earliest deliveries of fuel oil is poised to slide from an eight-month high as Europe floods the region with excess supplies and Chinese refinery demand wanes.
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Gasoline rallied a fourth day on speculation that refinery shutdowns will crimp supplies as demand picks up over the May 26 Memorial Day holiday. Crack spreads widened.
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West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.
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Ultra-low-sulfur diesel rose as gasoil gained in Europe on speculation refineries may reduce operating rates, limiting production.
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