Local oil firms lowered their pump prices for diesel and kerosene on Saturday as market concerns on possible supply disruptions in the Middle East and Africa eased following United Nations intervention to get Syria to relinquish its chemical weapons.
Oil prices extended losses in Asian trade Friday as investors took profits after a recent rally.
By Riza T. Olchondra
A substantial drop in gasoline prices with smaller rollbacks for diesel and kerosene will take place Monday morning amid a stronger peso and easing market jitters over the turbulence in Syria.
Oil prices were mixed in Asian trade Friday as dealers monitor diplomatic efforts to make Syria give up its chemical weapons and avert a US-led military attack, analysts said.
Oil prices rose in Asian trade Thursday as US President Barack Obama cleared the first legislative hurdle in his race to win congressional backing for military strikes on Syria.
Oil prices were mixed in Asian trade Wednesday after climbing in New York as concerns over a US-led military strike on Syria returned.
By Riza T. Olchondra
Oil firms raised pump prices for gasoline, diesel and kerosene Tuesday as market jitters drove up fuel prices across the globe. Petron, the No. 1 oil player in the country, attributed the international movements to concerns over “ongoing geopolitical tensions in the Middle East, particularly Syria.”
The stock market is rising on the first trading day since President Barack Obama announced that he would seek congressional approval for a military strike against Syria.
Asian shares mostly rallied on Monday after strong manufacturing data indicated a slowdown in China may be coming to an end, while the dollar climbed back towards the 100 yen mark.
Oil prices fell in Asian trade Monday after US President Barack Obama’s announcement that he would seek approval from lawmakers for military action against Syria eased prospects of an imminent strike, analysts said.
Long hailed as the hungry new tigers of the global economy, the world’s biggest emerging markets will be the chief economic focus at the G20 summit in Russia this week as their once surging prospects suddenly dim.
Asian markets were mixed on Friday as upbeat US economic growth data and easing concerns about an imminent strike on Syria were offset by mild profit-taking following the previous day’s gains.