Global oil prices fell on Tuesday as a raft of downbeat company news and economic data sparked fresh concern about the strength of future energy demand, adding to fears over the US debt ceiling, dealers said.
In late afternoon London deals, Brent North Sea crude for delivery in February declined 82 cents to $111.06 a barrel.
New York's main contract, light sweet crude for February or West Texas Intermediate (WTI), reversed 30 cents to $93.84 per barrel.
"Crude oil fell today as disappointing corporate news and mixed economic pointers spooked concerns about demand," said analyst Fawad Razaqzada at trading firm GFT Markets.
"Germany suffered a double whammy as the latest data revealed GDP in Europe's powerhouse contracted 0.5 percent in the final quarter of last year while one of the country's biggest technology companies, SAP, reported results that missed analysts' expectations.
"We did see a better-than-expected rise in US retail sales for December, although at the rate of 0.5 percent, it is nothing to get excited over."
Sentiment was dampened by news that the the German economy, Europe's biggest, notched up its weakest growth in four years in 2012, as it increasingly feels an impact from the eurozone debt crisis.
German gross domestic product (GDP) shrank by about 0.5 percent in the fourth quarter of last year, bringing full-year growth to just 0.7 percent, the federal statistics office Destatis calculated in preliminary data.
In 2010 and 2011, the German economy had expanded by 4.2 percent and 3.0 percent respectively.
The market also took a knock after US President Barack Obama warned Republicans over the debt ceiling, with traders bracing for more US partisan bickering in the coming weeks.
"Crude oil prices have been in a consolidation mode ... as the lack of the agreement over the US debt ceiling and further build in the US oil crude stocks weighed further on market sentiment," added Sucden analyst Myrto Sokou.
President Barack Obama on Monday warned Republicans against using the debt ceiling as a "bargaining chip," saying a failure to raise it would sow financial chaos and send markets into a tailspin.
"To even entertain the idea of this happening, of the United States of America not paying its bills -- it is irresponsible, it is absurd," Obama said, repeating his demand for a rise in the nation's borrowing limit.
"We are not a deadbeat nation," the president said in the final press conference of his first White House term.
"While I'm willing to compromise and find common ground over how to reduce our deficits, America cannot afford another debate with this Congress about whether or not they should pay the bills they've already racked up."
Republicans reacted swiftly, essentially ignoring Obama's demand to de-couple the spending debate from the debt ceiling and giving every indication that the face-off will continue.
Congressional refusal to raise the debt limit beyond its current level of $16.4 trillion could delay key government payments in the world's largest economy and oil consumer, sending markets "haywire", Obama warned.
The United States ran up against its current debt limit at the end of 2012, but the government is using "extraordinary measures" to extend the limit until late February.
AFP
Tue Jan 15 2013
Sah suspek anggota polis
Ketua Polis Selangor, Datuk Hussein Omar Khan mengesahkan suspek bunuh Nur Farah Kartini, ialah anggota polis.
Suspek juga yang dipercayai teman lelaki mangsa dan bertugas di Perak.
Suspek juga yang dipercayai teman lelaki mangsa dan bertugas di Perak.
Suspek dibawa ke lokasi kejadian di ladang kelapa sawit
Suspek kes pembunuhan bekas penuntut UPSI Nur Farah Kartini Abdullah dibawa ke lokasi kejadian di ladang kelapa sawit di Kampung Sri Keledang, Hulu Bernam, Selangor.
![Ringgit susut berbanding dolar US pada penutup Ringgit susut berbanding dolar US pada penutup](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/41713876066_TBringgitmalaysia.jpg)
Ringgit susut berbanding dolar US pada penutup
Pada 6 petang, ringgit susut lagi kepada 4.6745/6790 berbanding dolar AS daripada 4.6725/6745 semasa ditutup semalam.
Pangkat atau jawatan tidak penting
Polis Diraja Malaysia (PDRM) tidak akan melindungi anggotanya yang ditahan bagi membantu siasatan berhubung kes bunuh bekas penuntut Universiti Pendidikan Sultan Idris (UPSI), Nur Farah Kartini Abdullah.
Ketua Polis Negara, Tan Sri Razarudin Husain berkata, PDRM akan menjalankan siasatan berkaitan kes itu dengan telus dan adil.
Ketua Polis Negara, Tan Sri Razarudin Husain berkata, PDRM akan menjalankan siasatan berkaitan kes itu dengan telus dan adil.
Pemilik sebuah rumah kebajikan didenda RM100
Individu didakwa di dua mahkamah Kuala Lumpur berkait kematian seorang pempengaruh TikTok dikenali Rajeswary atau Esha yang ditemukan meninggal dunia dipercayai menjadi mangsa buli siber, 5 Julai lalu.
TERKINI] Timbalan Ketua Polis Perak dilantik Ketua Polis Perak baharu
Timbalan Ketua Polis Perak, Datuk Azizi Mat Aris dilantik sebagai Ketua Polis Perak yang baharu bermula hari ini.
Azizi, 59 tahun, menggantikan Datuk Seri Mohd Yusri Hassan Basri yang dilantik sebagai Pengarah Jabatan Siasatan dan Penguatkuasaan Trafik (JSPT) Bukit Aman berkuat kuasa pada Isnin.
Azizi, 59 tahun, menggantikan Datuk Seri Mohd Yusri Hassan Basri yang dilantik sebagai Pengarah Jabatan Siasatan dan Penguatkuasaan Trafik (JSPT) Bukit Aman berkuat kuasa pada Isnin.
![Bursa Malaysia ditutup rendah susulan aktiviti pengambilan untung Bursa Malaysia ditutup rendah susulan aktiviti pengambilan untung](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/61714480297_tbbursamalaysialog.jpg)
Bursa Malaysia ditutup rendah susulan aktiviti pengambilan untung
Pada 5 petang, Indeks FTSE Bursa Malaysia KLCI (FBM KLCI) susut 3.86 mata atau 0.24 peratus kepada 1,625.96 daripada paras penutup 1,629.82. pada Isnin.
![[TERKINI] Astro penyiar rasmi Sukan Olimpik Paris 2024 [TERKINI] Astro penyiar rasmi Sukan Olimpik Paris 2024](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-08/51692062485_TBAstro.jpg)
[TERKINI] Astro penyiar rasmi Sukan Olimpik Paris 2024
Astro dipilih sebagai penyiar rasmi bagi Sukan Olimpik Paris 2024 bermula hujung bulan ini.
AWANI Borneo [16/07/2024] – SUKMA 2024 | Sentiasa berwaspada | Pintu sempadan
AWANI Borneo Selasa, 16 Julai 2024 bersama Fauzi Zin.
- SUKMA 2024 : Nasib acara takraw wanita diketahui Khamis ini.
- Ribut petir diramal di Sabah, Bomba saran penduduk berhati-hati.
- Urusan imigresen di sempadan, Malaysia-Brunei adakan rundingan.
- SUKMA 2024 : Nasib acara takraw wanita diketahui Khamis ini.
- Ribut petir diramal di Sabah, Bomba saran penduduk berhati-hati.
- Urusan imigresen di sempadan, Malaysia-Brunei adakan rundingan.
![Hukuman penjara bapa lakukan serangan seksual ke atas 3 anak perempuan dikurangkan Hukuman penjara bapa lakukan serangan seksual ke atas 3 anak perempuan dikurangkan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/51714453013_courtgavelmahkam.jpg)
Hukuman penjara bapa lakukan serangan seksual ke atas 3 anak perempuan dikurangkan
Dalam penghakimannya, Che Mohd Ruzima berkata perayu gagal membuktikan bahawa Mahkamah Sesyen terkhilaf dalam memutuskan kes itu.