Leisure, Lifestyle & Wellness
Check-in, Check-out

Singapore’s Changi Airport has been named the world’s best airport in the Skytrax World Airport...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
A Game of Chance

50% of the equity schemes failed to beat their benchmarks last year. Analysis by Moneylife...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Oil above $84/barrel in Asian trade

Strong regional equity markets, reopening of European airspace helped to boost prices

Oil climbed above $84/barrel in Asian trade today as European governments reopened their airspace to more flights following a shutdown caused by ash from an erupting volcano in Iceland, reports PTI.

Prices also had a boost from regional equity markets, which were buoyed by a rise in US stocks.

New York’s main contract, light sweet crude for delivery in May, jumped 36 cents to $84.21 a barrel.

Brent North Sea crude for June rose 47 cents to $85.27.

“Support could be coming from regional equity markets which appear to be doing okay so far today,” said David Moore, commodity strategist at the Commonwealth Bank of Australia. “There’s also been more flight activity in Europe which is seen to be helping oil prices.”

Planes took to Europe’s skies in greater numbers on Wednesday after the chaos caused by the Iceland volcano cloud.

Britain finally lifted a flight ban on its airspace late Tuesday, following Belgium, France and Germany and others in easing restrictions introduced after the Icelandic volcano spewed a huge dust cloud across the continent.

However, airlines face a huge challenge to shift the backlog of passengers that has built up.

Millions of people have been stranded across the globe since Europe began shutting down airspace on 14th April, and airline schedules are in disarray after a number of planes were grounded.

Asian stocks were also higher, lifted by Wall Street’s gains and solid earnings from Apple Corp.

Japanese shares were 1.54% higher by noon, with the headline Nikkei index of the Tokyo Stock Exchange finishing the morning session up 168.09 points at 11,068.77.

Hong Kong shares were 0.32% higher in early trading.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)