Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

NYMEX crude oil prices lower in Asia on China, Ukraine tensions support

Published 03/24/2014, 10:55 PM
Updated 03/24/2014, 10:58 PM

Investing.com - Crude oil prices fell in Asia on Tuesday on uncertain demand prospects from heavyweight importer China, but remained supported by concerns of fresh economic sanctions slapped on Russia, the world's top oil producer, by the West for annexing Crimea.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in May traded at $99.35 a barrel, down 0.25%, in a thin data day in Asia and affter hitting an overnight session low of $99.06 a barrel and a high of $100.29 a barrel.

Brent oil on ICE Futures Europe shed 11 cents, or 0.1%, to $106.81 a barrel on Monday.

The European Union and the U.S. last week intensified sanctions against Russian President Vladimir Putin and his allies to pressure his government to defuse the global standoff over Ukraine.

Western nations added new names to their lists of Russians and Ukrainians punished with asset freezes and travel bans.

Russia followed suit with similar sanctions, and while viewed by markets as a tit-for-tat measure, oil prices rose on concerns diplomatic efforts to diffuse the crisis may be unraveling.

Capping gains, however, were soft Chinese factory numbers.

China’s HSBC Flash Purchasing Managers Index, the earliest indicator of the country's industrial activity, fell to an eight-month low of 48.1 in March from a final reading of 48.5 in February, defying expectations for a rise to 48.7.

China is the world's second-largest consumer of crude.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.