Crude prices rose on Thursday in early Asian trading after big losses in the previous session spurred by mounting concerns that the global glut in oil is not going away soon after the latest bearish data out of the United States.
Oil futures dipped on Friday after Saudi Arabia said it was ready to raise output further to meet strong demand.
US crude prices hit a high of $61.82 a barrel earlier this week, their strongest since May 6, as firm demand and a st
Dubai Mercantile Exchange (DME), a leading energy futures and commodities exchange, has been named the Exchange of the Year for Australasia and MEA by leading industry publication FOW.
DME beat off stiff competition from the other
Three months after its launch, InterContinentalExchange's sour Middle East contract looks moribund, having failed to trade on two days this month, and rarely trading in Asian time anymore.
The Oman contract on the rival Dubai Mercantile Ex