Cambodian Human Rights Committee Remarks on Recent Case of Detained Soldiers and Thai Response | CMAC Confirms Expertise on MK-84 Bomb as Evidence Supports Cambodia’s Claims | Cambodia Denies Thai Media Allegations of Drone Crossings and Urges Troop Return | Cambodia Urges Thailand to Match Words with Actions in Peace Efforts | BREAKING: Cambodia to Facilitate ASEAN Defence Observer Team Visit Along Border Regions in Support of Ceasefire Agreement | BREAKING: Two Suspects Detained in Phnom Penh Over Massive 562-Kilogram Drug Trafficking Case | BREAKING NEWS: Cambodia Responds to Alleged Thai Military Movements Near Border Areas | Breaking News: Hun Sen Warns of Possible Thai Military Strike, Cancels Senate Meeting Tomorrow | Cambodian Defense Spokesperson Reports Calm but Cautions About Possible Developments Along Border | Deputy Prime Minister Sar Sokha Issues Directive Prohibiting UAV Launches in Border Provinces Amid Sovereignty Concerns | Cambodian Leader Hun Sen Warns of Heightened Tensions, Says Military on High Alert as Diplomacy Continues | TOP NEWS: Cambodia Condemns Thai Forces’ Entry into Sovereign Territory, Calls for International Support | BREAKING: Prime Minister Hun Manet Addresses Status of 18 Cambodian Soldiers in Thai Custody | BREAKING: Senate President Hun Sen Questions Thailand’s Refusal to Return 18 Captured Cambodian Soldiers |
Cambodian Human Rights Committee Remarks on Recent Case of Detained Soldiers and Thai Response | CMAC Confirms Expertise on MK-84 Bomb as Evidence Supports Cambodia’s Claims | Cambodia Denies Thai Media Allegations of Drone Crossings and Urges Troop Return | Cambodia Urges Thailand to Match Words with Actions in Peace Efforts | BREAKING: Cambodia to Facilitate ASEAN Defence Observer Team Visit Along Border Regions in Support of Ceasefire Agreement | BREAKING: Two Suspects Detained in Phnom Penh Over Massive 562-Kilogram Drug Trafficking Case | BREAKING NEWS: Cambodia Responds to Alleged Thai Military Movements Near Border Areas | Breaking News: Hun Sen Warns of Possible Thai Military Strike, Cancels Senate Meeting Tomorrow | Cambodian Defense Spokesperson Reports Calm but Cautions About Possible Developments Along Border | Deputy Prime Minister Sar Sokha Issues Directive Prohibiting UAV Launches in Border Provinces Amid Sovereignty Concerns | Cambodian Leader Hun Sen Warns of Heightened Tensions, Says Military on High Alert as Diplomacy Continues | TOP NEWS: Cambodia Condemns Thai Forces’ Entry into Sovereign Territory, Calls for International Support | BREAKING: Prime Minister Hun Manet Addresses Status of 18 Cambodian Soldiers in Thai Custody | BREAKING: Senate President Hun Sen Questions Thailand’s Refusal to Return 18 Captured Cambodian Soldiers |

Oil Dips, But Hovers near 2023 Highs on China Demand Optimism

INTERNATIONAL: Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China's reopening will lift fuel demand at the world's top crude importer.

Brent crude fell 36 cents, or 0.4 per cent, to $84.92 a barrel by 0116 GMT while U.S. West Texas Intermediate crude was at $79.65 a barrel, down 21 cents, or 0.3 per cent, amid thin trade during a U.S. public holiday.

Both contracts rose more than 8 per cent last week, the biggest weekly gain since October, after China's crude imports rose 4 per cent year-on-year in December while Lunar New Year travel brightens the outlook for transportation fuels.

Traffic levels in China are continuing to rebound from record low levels following the easing of COVID-19 restrictions, resulting in stronger demand for crude and oil products, ANZ analysts said in a note.

The rebound in domestic demand is expected to lead to a 40 per cent drop in China's exports of refined oil products in January from December's figure, led by gasoline, trading sources and analysts said.

"While there is still plenty of optimism around Chinese demand, in the near term the oil market remains relatively well supplied," ING analysts said in a note.

"We see further upside from 2Q23, as the market tightens."

This week, the Organization of the Petroleum Exporting Countries and the International Energy Agency will release their monthly reports, closely watched by investors for global demand and supply outlooks.

Investors will also be watching for a key Bank of Japan (BOJ) meeting this week to determine if it would defend its super-sized stimulus policy.

(Source Reuters)


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