US inventory data props up markets

DOMESTIC REVIEW/ ENERGY

The international prices of crude oil continued to rule high during the past week on forecasts that US inventory data would show the world's biggest consumer further replenishing its crude stock cushion.

Though the prices eased since a White House statement on Monday that top world producer Saudi Arabia had promised to keep prices between $22-$28 a barrel, tension in the oil-rich West Asia underpinned oil's price strength.

The international benchmark Brent (dated) crude, which was hovering at $ 33.65 a barrel on April 13, moved down to $ 33.57 a barrel on April 16, to be quoted at $ 32.92 a barrel on April 20.

Jet fuel (Singapore), which was being quoted at $ 39.60 a barrel on April 13, moved up to $ 42.25 a barrel on April 16, and touched $ 42.75 a barrel on April 21.

Prices of gas oil (Singapore) with 0.5 per cent sulphur, which were ruling at $ 38.70 a barrel on April 13, moved up to $ 39.43 a barrel on April 16, and touched $ 39.58 a barrel on April 20.

Naphtha (Singapore), which was being quoted at $ 36.85 a barrel on April 13, touched $ 37.50 a barrel on April 16, and was quoted at $ 37.05 a barrel on April 20.

Prices of unleaded petrol (fob Singapore), which were ruling at $ 43.50 a barrel on April 13, moved down to $ 43.08 a barrel on April 16, and touched $ 42.80 a barrel on April 20.