Crude oil — File Photo
Crude oil — File Photo

SINGAPORE: Crude fell in Asia Friday as hopes for a US stimulus faded and eurozone worries resurfaced after German opposition to a Greek call for more time to enact spending cuts and reforms, analysts said.

New York's main contract, light sweet crude for delivery in October shed 59 cents to $95.68 a barrel in the afternoon and Brent North Sea crude for October delivery dipped 47 cents to $114.54.

Crude markets were down as “revived hopes for more stimulus from the US Federal Reserve faded and doubts about Europe's ability to address its debt crisis crept back in focus”, Phillip Futures said in a report.

Hopes for a Fed-led stimulus, which had been buoyed by minutes of its last meeting showing “many members” supporting such a move soon, faded after comments Thursday by a senior Fed official that the data was outdated.

“St Louis Fed president (James) Bullard summed it up by saying the minutes were 'stale',” IG Markets said in a report.

“The structure of the Fed minutes, being released three weeks after the meeting itself, gives a snapshot of the economy that has since moved on,” the report added.

In Europe, worries about the region's debt woes came to the fore again after German Finance Minister Wolfgang Schaeuble said he opposed Greek calls for more time to make painful spending cuts and reforms to unlock much-needed funds.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Budget presser
Updated 14 Jun, 2026

Budget presser

If the FBR falters, the government will find itself in hot water sooner rather than later.
Muharram precautions
14 Jun, 2026

Muharram precautions

WITH Muharram due to start next week, the authorities have already begun annual exercises to ensure that the ...
Blood bequests
14 Jun, 2026

Blood bequests

WORLD Blood Donor Day offers a moment of “gratitude, advocacy and renewed commitment” for thalassaemia patients...
Sustainable path?
Updated 13 Jun, 2026

Sustainable path?

The FY27 budget is the first clear signal that the government is ready to transition from stabilisation to growth.
Prioritising education
13 Jun, 2026

Prioritising education

THOUGH the improvement in the country’s literacy rate may be slight, as highlighted by the Economic Survey, it ...
Poverty’s rise
13 Jun, 2026

Poverty’s rise

AS attention turns to the government’s plans for the coming fiscal year, one set of figures deserves particular...