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NYMEX crude oil prices ease in Asia in holiday trade

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Investing.com -

Investing.com - Crude oil priced dipped in Asia on Tuesday ahead of U.S. industry crude oil stocks data and with markets in Singapore, Vietnam, Thailand, Cambodia, Laos, Malaysia, Myanmar and Indonesia shut for Vesak Day.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $100.54 a barrel, down 0.05%, after hitting an overnight session low of $99.94 a barrel and a high of $100.93 a barrel.

Brent oil on the ICE futures exchange rose 52 cents, or 0.5%, to $108.41 a barrel, its highest settlement price since May 2.

The American Petroluem Institute will release industry data on U.S. stocks later Tuesday, followed by the more closely eyed U.S. Department of Energy figures on Wednesday.

Events in the Ukraine continue to underpin crude oil.

Pro-Russian separatists claimed victory in a weekend referendum on self-rule in the eastern Ukrainian city of Donetsk, which stirred concerns that the country is sliding closer to civil war.

The vote has been condemned by Ukraine's government and the West, which has threatened to slap Russia with fresh sanctions, underlining concerns over a disruption to supplies from the region.

Russia produced 10.4 million barrels of oil per day in 2012 and exported 7.4 million, making it the world's second largest oil exporter after Saudi Arabia.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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