SINGAPORE: Oil prices remained steady near $40 a barrel in early Asian trade Tuesday ahead of an US economic stimulus package expected to be approved this week.
Light sweet crude for March delivery slid 1 cent to $39.55 a barrel at 10.00 a.m Singapore time. On Monday the contract settled down 61 cents at $39.56 a barrel in New York. London Brent crude rose 2 cents to $46, maintaining a rare premium against US prices.
Investors and governments worldwide are keeping an anxious eye on US plans to stimulate its economy and rescue its banks on Monday, hoping the world's largest economy can lead the way out of a global crisis.
Light sweet crude for March delivery slid 1 cent to $39.55 a barrel at 10.00 a.m Singapore time. On Monday the contract settled down 61 cents at $39.56 a barrel in New York. London Brent crude rose 2 cents to $46, maintaining a rare premium against US prices.
Investors and governments worldwide are keeping an anxious eye on US plans to stimulate its economy and rescue its banks on Monday, hoping the world's largest economy can lead the way out of a global crisis.
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