Oil rises to near $82 in Asia amid growing signs of global economic recovery

October 21st, 2009 WASHINGTON - Led by China, India and Indonesia, Asia is emerging from the global economic crisis sooner and stronger than any other region, according to a top International Monetary Fund (IMF) official. Measured from peak to trough, real GDP has fallen by nearly 4 percent in the United States, but it fell by more than 8 percent in Japan and by about 7 percent in emerging Asia, excluding China, India and Indonesia, the First Deputy Managing Director of IMF, John Lipsky noted Tuesday.

October 13th, 2009 Oil rises to near $74 in AsiaSINGAPORE — Oil prices rose to near $74 a barrel Tuesday in Asia as investors eyed a weakening U.S. dollar and looked to commodities for protection against possible inflation.

October 9th, 2009 Global oil demand seen rising amid recoveryPARIS — Faster economic growth next year, particularly in the developing world, will drive oil demand higher than previously expected, the International Energy Agency said Friday. The Paris-based IEA, which advises oil-consuming countries, said crude demand would reach 86.1 million barrels a day in 2010, up 1.7 percent from this year, the IEA said in its monthly oil report.

September 10th, 2009 Oil rises above $72 as US crude inventories plungeSINGAPORE — Oil prices rose above $72 a barrel Friday in Asia as a drop in U.S. crude inventories suggested demand may be picking up.

September 5th, 2009 British leader urges G-20 against complacencyLONDON — British Prime Gordon Brown has called on Group of 20 leaders to commit to continued efforts to boost global growth, saying that the world economy is at a "critical juncture." Addressing finance officials from the G-20 rich and developing countries at the start of their talks here on Saturday, Brown said that cooperation on the path ahead was essential. The G-20 is convening in the British capital amid mounting signs of at least a modest economic upturn.

September 4th, 2009 Oil rises above $68 ahead of US jobs reportSINGAPORE — Oil prices peaked above $68 a barrel Friday in Asia as investors looked to a U.S. unemployment report later in the day for signs of economic recovery.

August 19th, 2009 Oil rises to near $70 on US crude inventory dropSINGAPORE — Oil prices rose to near $70 a barrel Wednesday in Asia, rallying for a second day after U.S. crude inventories unexpectedly fell last week.

August 18th, 2009 Oil rises above $67 amid mixed economic signalsVIENNA — Oil prices rose above $67 a barrel Tuesday as stock markets rebounded and investors looked for clues to the strength of the global economic recovery. Benchmark crude for September delivery was up 81 cents to $67.56 a barrel in midday European trading on the New York Mercantile Exchange.

August 13th, 2009 Singapore's SingTel 2Q profit rises 7.7 percentSINGAPORE — Singapore Telecommunications Ltd., the largest telephone company in Southeast Asia, said its profit rose 7.7 percent in the April-June period as a growing subscriber base aided income. The company, also known as SingTel, said in a statement Thursday that net income for its fiscal first quarter rose to 945 million Singapore dollars ($654 million), up from SG$878 million a year earlier.

August 4th, 2009 MEXICO - Mexican President Felipe Calderon has said there were signs of recovery of the country's economy, and described the world economic crisis as a perfect storm, Prensa Latina reported Tuesday. Calderon made the comments Sunday and added that despite the fact that the economic crisis has led to a reduction in 10 percent of the gross domestic product, there are already some signs of recovery, such as the creation of 20,000 jobs in June.

July 27th, 2009 China, US officials see global economic recoveryWASHINGTON — Top officials of the United States and China said Monday they saw hopeful signs that the global economy was beginning to move into a period of recovery. Treasury Secretary Timothy Geithner said that the joint efforts of the nations to deal with the financial crisis with large stimulus programs marked a turning point in the relationship of the two economic superpowers.

July 27th, 2009 Oil rises above $68 as rally extends to third weekSINGAPORE — Oil prices rose above $68 a barrel Monday in Asia as a rally fueled by an improving economic and corporate outlook extended into a third week. Benchmark crude for September delivery was up 59 cents to $68.64 a barrel by midday Singapore time in electronic trading on the New York Mercantile Exchange.

July 2nd, 2009 ADB: Asia set for mild economic recovery in 2010MANILA, Philippines — Asia is set for a mild economic recovery from the global financial crisis in 2010 after bottoming out this year, the Asian Development Bank's chief economist said Thursday. "Clearly now we are in the transition from recession to recovery," Jong-Wha Lee said.

May 8th, 2009 Oil rises above $57 on economic recovery hopesSINGAPORE — Oil prices rose above $57 a barrel Friday in Asia as investors bet that a year-end recovery in the global economy will boost oil demand. Traders have shaken off weeks of dismal economic news amid signs that the slowdown has eased and a recovery could gain steam by the end of the year.

January 7th, 2009 SINGAPORE - French bank BNP Paribas has predicted a faster Asian economic recovery next year, citing aggressive government spending and region-wide interest rate cuts, according to a news report Thursday. The scale of the global policy response, monetary and fiscal, should ensure the recovery is more V-shaped, indicating a steep rise after a decline, than a slower, U-shaped recovery, said BNP Paribas economist Richard Iley.