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Oil edges up in early Asian trade

Oil edges up in early Asian trade
Light sweet crude oil for April delivery was at $43.94 a barrel, up 33 cents.

Light sweet crude oil for April delivery was at $43.94 a barrel, up 33 cents.

Oil edged up in early Asian trade Friday after an overnight slide mainly on concerns of worsening economic slowdown. Light sweet crude oil for April delivery was at $43.94 a barrel, up 33 cents, at 10.00 a.m Singapore time on the New York Mercantile Exchange. On Thursday, futures fell $1.77 to settle at $43.61. Prices are down 1.8% so far this week.

China"s decision of not to adopt anymore stimulus package also weighed on oil. World"s second largest oil consumer china on Thursday ruled out speculation of additional stimulus plans.

Crude oil supplies in the fell 757,000 barrels to 350.6 million barrels in the week ended Feb. 27, the Energy Department said in a report earlier this week.

www.TurkishMaritime.com.tr

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