Singapore, April 21:
Oil prices were down in subdued post-holiday Asian trade today, but
retained support from the escalating Ukraine crisis following a deadly
gunfight over the week-end, analysts said.
New York’s main contract, West Texas Intermediate crude for May
delivery, dipped 22 cents to $104.08 in mid-morning trade and Brent
North Sea crude for June eased 44 cents to $109.09 a barrel.
Desmond Chua, market analyst at CMC Markets in Singapore, said that the
trading volumes are thin in Asian trade after the long Easter week-end.
Financial markets in Hong Kong, Australia and New Zealand are closed for public holidays. However, investors were increasingly concerned about the Ukraine crisis, Chua said.
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