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HuaweiOil prices fell on Friday even though data showed China’s economy rebounded in the final quarter of last year, suggesting a possible increase in China’s energy demand.
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Oil prices fell in Asian trade on Thursday on profit-taking and the restarting of a British pipeline but an attack by Islamist militants on an Algerian gas field supported prices.
Oil was up in Asian trade on Monday as a completed US pipeline expansion project reduced oversupplied US inventory stocks, giving oil futures a positive nudge, analysts said.
Oil prices were mixed in Asia on Friday with some traders taking profits after enjoying a boost in the previous session thanks to stronger-than-expected trade data out of China, analysts said.
Oil prices climbed in Asia on Thursday after a surge in China’s trade surplus sparked hopes the world’s second largest economy and biggest energy user was firing up again.
Oil prices weakened on Wednesday before a US oil stockpiles report and amid lingering concerns over the American economy despite better-than-expected earnings from aluminium giant Alcoa, analysts said.
Oil prices rose on Tuesday as the dollar weakened against the euro, boosting demand for crude as investors looked ahead to the start of the latest corporate earnings season, analysts said.
Oil prices were mixed in Asian trade on Monday as weak energy demand and concerns over more fiscal battles in Washington tempered news of a modest growth in the US jobs market.
The price of oil fell slightly Friday as investors weighed the possibility that the Federal Reserve might end its extraordinary economic stimulus measures later this year.
Oil prices fell as euphoria faded over a budget deal reached earlier this week by U.S. lawmakers and traders focused on signs of lackluster demand.