The Business Times
business-time-50
SUBSCRIBERS

Cuts in oil supply renew bets on price rally

Output down due to violence in Nigeria, export troubles in Libya and wildfires in Canada

google-preferred-sourceAdd BT as a preferred source
Published Mon, May 23, 2016 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    New York

    INVESTORS have some sad reasons to be optimistic about oil prices.

    Outbreaks of violence in Nigeria, export troubles in a divided Libya and wildfires ripping across the Canadian oil sands are reviving wagers that crude markets will tighten. Speculators' net-long position in benchmark US crude, a measure of how bets on a price increase outnumber bearish ones, climbed by the most contracts since March, according to data from the Commodity Futures Trading Commission (CFTC).

    oilOil pricesCanada

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Air India has been one of the foreign carriers most affected by the outbreak of hostilities in the Middle East.

    Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More