SINGAPORE — Oil fell to near $97 a barrel Tuesday in Asia, extending nearly a week of losses as signs of sluggish economic growth in the U.S. and Europe foreshadowed tepid demand for crude.
Benchmark oil for June delivery was down 90 cents to $97.04 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.
The contract settled down 55 cents at $97.94 in New York on Monday after trading as low as $95.34 per barrel — its cheapest level this year. Brent crude for June …

The State Oil Fund of Azerbaijan (SOFAZ) expects a 5.4-fold increase in its assets by 2025.
SOFAZ executive director Shahmar Movsumov has stated in an interview for newspaper Respublika, the official organ of the Cabinet Ministers of Azerbaijan, with keeping world prices at a level no lower than $80 per barrel and ensuring return on asset of Fund’s assets placement at a level of 4% per annum, SOFAZ overall assets amount to $176 bn by the end of 2024.
Currently only world oil prices exceed the forecasted level (in the 1st quarter …

Russian stocks sank for a second week, erasing the benchmark index’s gain this year, as concern the global economic recovery is faltering pushed crude below $100 for the first time since February.
The 30-stock Micex Index (INDEXCF) retreated 0.3 percent to 1,387.60 by 11 a.m. in Moscow, headed for a 5.8 percent drop this week. OAO Raspadskaya, a Russian coal producer, lost 2.4 percent while United Co. Rusal dropped 1.8 percent. OAO Novatek, the country’s second-biggest natural-gas company, rose 0.4 percent and OAO GMK Norilsk Nickel added 0.5 percent. OAO Surgutneftegas, …

Delay Granted While BP Works On Separate Settlement
A federal judge in Louisiana on Thursday rescheduled the liability trial in the BP oil spill in Gulf of Mexico and postponed it to early next year from later this year.
BP earlier asked the court to delay the liability trial until it decides whether to grant final approval to a class-action settlement that BP reached with attorneys representing thousands of businesses and individuals who made claims after the 2010 spill.
The new trial date is scheduled for January 14, 2013, U.S. District Court Judge …

SINGAPORE — Oil prices hovered above $105 a barrel Thursday in Asia as investors awaited key U.S. employment data for clues about the strength of the economy and crude demand.
Benchmark oil for June delivery was down 17 cents to $105.05 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 94 cents to settle at $105.22 in New York on Wednesday.
Brent crude for June delivery was up 10 cents at $118.30 per barrel in London.
Crude has traded between $102 and $106 …