NEW YORK: This year was like no other for oil prices. Even as global prices end the year at about US$51 a barrel, near the average for 2015-2017, it masks a year of volatility.
Opec+ oil output cut compliance at 101% in November: sources businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR, Dec 29 The ringgit opened slightly lower against the US dollar today on improving risk sentiment, due to the signing of the United States (US) stimulus deal by President Donald Trump, traders said. At 9am, the local note marginally eased to 4.0490/0540 against the greenback from.
Oil gains on hopes US Covid pandemic stimulus payments to spur fuel demand
Reuters/Singapore
Forecasts for tightening US crude oil stocks also added support to prices.
Oil rose on Tuesday, for the third time in four sessions, on expectations for rising fuel demand as the United States may expand their pandemic aid payments and a final Brexit deal is set to stabilise trade between Europe and the UK.
Brent crude futures climbed 36 cents, or 0.7 per cent, to $51.22 a barrel, as of 0151 GMT and US West Texas Intermediate (WTI) crude futures added 34 cents, or 0.7 per cent, to $47.96 a barrel.
Crude rose along with a gains in Asian shares, with Japanese stocks hitting a 29-year high, on rising investor risk appetite as the U.S. House of Representatives voted to raise pandemic relief payments to $2,000 from $600. The Senate still needs to vote on the measure.
LETTER | Get ready for technology to disrupt the travel industry
A
-
LETTER | In 1973, I started working in the travel industry as a tourist guide cum limousine driver for the largest inbound tour company in Malaysia, which was also the first to operate tour buses, limousine taxis, and car rental services from 1963.
The quality-of-service provided to tourists 47 years ago would astound many people today. For example, all tourist guides, male or female, were also limousine drivers. When not handling tour groups transported in tour buses, they drove limousines for one or two affluent tourists.
Tour buses then had two engines, one for an independent air-conditioning unit and another to propel the vehicle. Although relatively small, the two-stroke diesel engine generated adequate power as pressurised air was forced into the four cylinders by a blower acting as a supercharger.