• Not just Zuma's home

    Nkandla could be a great cultural heritage tourism site, argues Unathi Henama.

  • Retribution will come

    Those who now pay the price for opposing a corrupt system shall rise again, says Solly Moeng.

  • Ego - the enemy within

    Successful people are humble in their aspirations and resilient in failure, says Ian Mann.

All data is delayed
Loading...
See More

World oil prices mixed in Asia

Oct 22 2012 07:45
AFP

Singapore - World oil prices were mixed in Asian trade on Monday, with sentiment subdued as investors kept to the sidelines following weak US corporate earnings.

Investors were waiting for more news from US firms after heavyweights General Electric, McDonald's and Microsoft reported poor corporate earnings last week.

New York's main contract, light sweet crude for November, dipped four cents to $90.01 a barrel in morning Asian trade, while Brent North Sea crude for December gained 16 cents to $110.30.

"News out of the US is likely to dictate market action this week with more corporate earnings and economic data being released to an anxious audience," said Justin Harper, an analyst with IG Markets Singapore.

"This week the earnings season continues with Caterpillar, UPS, Apple and Merck among the bellwether stocks announcing their results. But the picture looks pretty bleak for corporate America and is tugging at the prospects for global markets."

Harper said global markets were also anticipating third quarter gross domestic product figures in the world's biggest economy and largest oil consumer, with the eurozone debt crisis expected to remain as a dampener.

"For the near-term at the very least the eurozone should continue its zombie-like state - still alive thanks to EU intervention but with no clear direction as austerity measures bite," he said.

commodities  |  markets  |  oil

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote

Loading...