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  • Oil prices rebound in Asian trade

    Published on August 20, 2010

    Oil prices rebounded in Asian trade on Friday  on hopes the Japanese government would ease monetary policy to stimulate its economy, analysts said.

    New York’s main contract, light sweet crude for delivery in September, was up 14 cents to 74.57 dollars a barrel in morning trade.

    Brent North Sea crude for October delivery advanced 24 cents to 75.54 dollars.

    Hopes that the Japanese government would intervene to curtail the appreciating yen were galvanising crude markets, said Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore.