Oil prices ease back after surge

  • Organisers unveil 2013 Miss Universe Singapore finalists

    To kick off this year's Miss Universe Singapore pageant, 16 of the 17 finalists were unveiled to the media on Saturday.

  • Video of man hitting worker in office goes viral

    Video of man hitting worker in office goes viral

    Video of man hitting worker in office goes viral

    A clip of a man hitting an office worker – who appears to be an employee under his supervision - has gone viral in Singapore, sparking outrage and calls for the authorities to step in.

  • Former president Nathan urges more Singaporeans to volunteer

    Former president Nathan urges more Singaporeans to volunteer

    Former president Nathan urges more Singaporeans to volunteer

    “People need to feel compassion,” says former president of Singapore, S R Nathan. “Problems will always be there. You can always throw money but that will not be the solution," he said as he urged more Singaporeans to give of their time and effort as volunteers to help those in need.

  • Teo Ho Pin presses WP's Sylvia Lim for answers

    Teo Ho Pin presses WP's Sylvia Lim for answers

    Teo Ho Pin presses WP's Sylvia Lim for answers

    Worker's Party Chairman Sylvia Lim has challenged Dr Teo Ho Pin to make a report to the Corrupt Practices Investigation Bureau (CPIB) if he believes that the WP had mismanaged the Town Council.

  • Singapore kindness mascot Singa the Lion quits

    Singapore kindness mascot Singa the Lion quits

    Singapore kindness mascot Singa the Lion quits

    Almost every Singaporean recalls growing up with Singa the Lion reminding you to let people exit the train first before boarding and to give up your seat to the disabled or elderly. But after 30 years of service, Singa says he needs “a long break” as he’s “just too tired to continue facing an increasingly angry and disagreeable society.”

Oil prices retreated on Monday as traders took profits following a pre-weekend surge on positive jobs data from the United States, the world's biggest consumer of crude.

Brent North Sea crude for delivery in September dropped 88 cents to $108.06 a barrel in London midday deals.

New York's main contract, West Texas Intermediate (WTI) light sweet crude for September, fell 42 cents to $90.98.

"Mild profit-taking is being seen, with Brent and WTI easing back from Friday's highs," said Sucden Financial Research analyst Jack Pollard.

A rally on Friday saw WTI prices surge more than four dollars to pass $91 a barrel, while Brent rose more than three dollars to within striking distance of $109.

Crude prices were weaker "after rallying on a stronger-than-expected US jobs report, while the market awaited Chinese trade data due later this week for trading cues," Phillip Futures said in a report.

On traders' watchlist for this week is the release of a slew of economic data from China which will provide an update on the economic health of the world's largest energy consumer.

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