Related Articles
Top Stories
Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Singapore - Oil prices lingered below $70 a barrel on Monday in Asia as investors looked to third quarter company earnings reports this week for clues about the health of the US economy.
Benchmark crude for November deliver was down 20 cents at $69.75 by late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 87 cents to settle at $69.95 on Friday.
Last week, weak economic data weighed on crude prices. The US reported worse than expected manufacturing and jobs numbers, with the unemployment rate rising to 9.8% in September, the highest since 1983.
US oil inventory data was mixed last week, suggesting consumer demand has yet to rebound strongly from the recession.
"Economic and oil data remain consistent with a macro economy just beginning to push off the trough, leaving markets with a lack of clear direction," Goldman Sachs said in a report.
Traders will be eyeing the first earnings for the July to September period, with Aluminium producer Alcoa, PepsiCo and Marriott International scheduled to report this week.
In London, Brent crude fell 25 cents to $67.82 on the ICE Futures exchange.
- AP