Archives of Asia

1. Indonesian parliament could pave way fuel price hikes

   2013-06-17 11:48:26 GMT : (Markets - Energy/Asia)

   JAKARTA:Indonesia's parliament debated measures on Monday to open the way for a jump in fuel prices after months of delay that have undermined confidence in the government and the ability of Southeast Asia's biggest economy to continue rapid growth.The price hike of 33 percent would allow the government to cut costly fuel subsidies and could give support to the struggling rupiah after the ...

2. Oil down in Asia on profit-taking

   2013-06-17 05:08:09 GMT : (Markets - Energy/Asia)

   SINGAPORE: Oil prices eased in Asian trading hours Monday as investors took profits following last week's rally triggered by concerns over rising tensions in the Middle East, analysts said.New York's main contract, light sweet crude for delivery in July, dropped 19 cents to $97.66 a barrel while Brent North Sea crude for August delivery shed 10 cents to $105.83 in morning trade."Markets ar...

3. Brent slips from near $105 on ample US inventory, weak outlook

   2013-06-14 05:20:29 GMT : (Markets - Energy/Asia)

   SINGAPORE: Brent futures slipped on Friday from near $105 a barrel with ample US inventories and a poor demand outlook weighing on prices, after bouncing more than 3 percent in the last two sessions off this week's low.The European benchmark had rebounded from $101.82 a barrel hit on Tuesday to near $105 because of a weak dollar, even though top industry bodies such as the International Energy...

4. Oil prices down in Asian trade

   2013-06-13 06:35:39 GMT : (Markets - Energy/Asia)

   SINGAPORE: Oil prices fell in Asian trade Thursday after a surprise uptick in US crude stockpiles, but losses were tempered by growing concerns over turmoil in Turkey, analysts said.New York's main contract, light sweet crude for delivery in July, dropped 56 cents to $95.32 a barrel and Brent North Sea crude for July shed 38 cents to $103.11 in the afternoon."Many were expecting a seasonal dra...

5. Oil prices slip in Asian trade

   2013-06-12 05:46:19 GMT : (Markets - Energy/Asia)

   SINGAPORE: Oil prices fell in line with Asian equities on Wednesday following the Bank of Japan's decision to hold off unveiling any fresh economic stimulus, analysts said.New York's main contract, light sweet crude for delivery in July dropped 83 cents to $94.55 a barrel and Brent North Sea crude for July delivery shed 53 cents to $102.43 in early afternoon trade."Inaction on the BoJ'...

6. Oil mixed in Asia on China growth concerns

   2013-06-11 04:56:59 GMT : (Markets - Energy/Asia)

   SINGAPORE: Oil prices were mixed in Asia on Tuesday after a batch of downbeat Chinese data highlighted concerns about slowing growth in the world's second largest economy.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July added five cents to $95.82 a barrel while Brent North Sea crude for July delivery shed 15 cents to $103.80."A lot of data has ...

7. Brent slips toward $104, weak China data hurts demand view

   2013-06-10 09:42:50 GMT : (Markets - Energy/Asia)

   TOKYO/PERTH: Brent crude dipped toward $104 per barrel on Monday as weak data from top energy consumer China muddied the outlook for oil demand, overshadowing the optimism stemming from a pickup in US hiring last month.Oil prices had risen in early trade on the US jobs data that showed a slight improvement, indicating that while the economy of the world's top oil consumer was healthier, it was...

8. Oil prices up in Asia after upbeat US jobs data

   2013-06-10 07:07:47 GMT : (Markets - Energy/Asia)

   SINGAPORE: Oil prices rose in Asian trade Monday as moderate growth in new jobs in the United States raised hopes about a pick-up in demand in the world's biggest crude consumer, analysts said.New York's main contract, West Texas Intermediate for delivery in July, gained five cents to $96.08 a barrel and Brent North Sea crude for July added three cents to $104.59 in the afternoon."At this ...

9. Oil prices up in Asia after upbeat US jobs data

   2013-06-10 04:51:16 GMT : (Markets - Energy/Asia)

   SINGAPORE: Oil prices rose in Asian trade Monday as moderate growth in new jobs in the United States raised hopes about a pick-up in demand in the world's biggest crude consumer, analysts said.New York's main contract, West Texas Intermediate for delivery in July, gained 12 cents to $96.15 a barrel and Brent North Sea crude for July added 10 cents to $104.66 in morning trade."At this momen...

10. Iraq cuts July Basra light crude price

    2013-06-09 11:53:39 GMT : (Markets - Energy/Asia)

    BAGHDAD: Iraq cut the price of Basra light crude to Asian buyers for July by 35 cents to a discount 50 cents per barrel to the average of Oman/Dubai quotes and raised prices to US and Europe, the oil ministry spokesman said on Sunday.The July price of Basra crudes for US buyers was set at a discount of $1.70 per barrel against the Argus (ASCI) benchmark versus a discount of $1.90 for the previous ...

11. Petronas delays Johor refinery start-up to 2017: CEO

    2013-06-09 11:41:03 GMT : (Markets - Energy/Asia)

    KUALA LUMPUR: Malaysian state oil and gas company Petronas has pushed back the completion date for its Johor refinery-petrochemical project to 2017 as a final investment decision has been delayed, its chief executive said on Sunday.The company was expected to give the project the green light this year but had to push it back due to political uncertainty during the national elections early this yea...

12. Bad weather cuts Iraq south oil exports

    2013-06-08 13:44:29 GMT : (Markets - Energy/Asia)

    BAGHDAD: Bad weather cut oil exports from Iraq's Basra ports to 864,000 barrels per day (bpd) on Saturday from 2.23 million bpd a day earlier, a shipping source said."High winds in the Gulf are disrupting loading operations and preventing ships from leaving the port," the shipping source said.Copyright Reuters, 2013 ...

13. China May crude oil imports up 0.4pc on month

    2013-06-08 05:40:34 GMT : (Markets - Energy/Asia)

    BEIJING: China's daily crude oil imports in May rose 0.4 percent from the previous month as crude runs at some Chinese refineries rebounded after the completion of maintenance and as state-run ChemChina stepped up crude purchases.China, the world's largest crude buyer after the United States, shipped in 23.95 million tonnes, or 5.64 million barrels per day (bpd), of crude oil last month, d...

14. Oil prices mixed in Asia ahead of US jobs data

    2013-06-07 05:02:58 GMT : (Markets - Energy/Asia)

    SINGAPORE: Oil prices were mixed in Asia on Friday as dealers await the release of crucial US jobs data later in the day, analysts said.New York's main contract, West Texas Intermediate crude for delivery in July, dropped five cents to $94.71 a barrel and Brent North Sea crude for July added seven cents to $103.68.Prices rose Thursday, boosted by expectations of stronger demand in the United S...

15. China shares up slightly in morning trade

    2013-06-07 05:01:38 GMT : (Markets - Energy/Asia)

    SHANGHAI: Chinese shares were up slightly in early trading on Friday after a more than one percent drop in the previous session, dealers said.The benchmark Shanghai Composite Index rose 0.15 percent, or 3.35 points, to 2,245.46.Copyright AFP (Agence France-Presse), 2013 ...

16. Oil prices mixed in cautious Asian trade

    2013-06-06 05:01:03 GMT : (Markets - Energy/Asia)

    SINGAPORE: Oil prices were mixed in Asia on Thursday, with traders treading carefully ahead of Chinese trade and industrial production data as the regional powerhouse shows signs of slowing down, analysts said.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July added two cents to $93.76 a barrel and Brent North Sea crude for July delivery dropped 18 c...

17. Oil prices up in Asian trade

    2013-06-05 05:00:57 GMT : (Markets - Energy/Asia)

    SINGAPORE: Oil prices rose in Asia on Wednesday, with dealers buying cheaper crude ahead of key economic releases from the United States, analysts said.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July added 43 cents to $93.74 a barrel and Brent North Sea crude for July increased 13 cents to $103.37."We're seeing a rebound on the back of a drop ...

18. Oil down in Asia as OPEC leaves output unchanged

    2013-06-03 06:38:57 GMT : (Markets - Energy/Asia)

    SINGAPORE: Oil prices were lower in Asian trade Monday after OPEC kept its output ceiling unchanged and voiced concerns over weak global economic growth dragging crude demand.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, was down 29 cents to $91.68 a barrel in the afternoon and Brent North Sea crude for July delivery shed 29 cents to $100.10."I...

19. Brent slips below $100, first time in a month on weak China data

    2013-06-03 05:09:13 GMT : (Markets - Energy/Asia)

    SINGAPORE: Brent futures slipped below $100 a barrel for the first time in a month on demand growth concerns after factory activity data from China pointed to momentum slowing in the world's second-biggest oil consumer.The HSBC/Markit Purchasing Managers' Index (PMI) for China fell to 49.2 in May, shrinking for the first time in seven months as both domestic and external demand softened.Th...

20. PetroChina Dalian refinery blasts injure two

    2013-06-02 13:13:02 GMT : (Markets - Energy/Asia)

    SHANGHAI: Explosions at a PetroChina refinery in northeastern China has left two people injured and another two missing, the official Xinhua news agency said on Sunday.The blasts occurred when two tanks containing residual diesel oil exploded on Sunday afternoon at the PetroChina Dalian refinery, Xinhua said. The refinery belongs to Dalian Petrochemical Corp, a unit of PetroChina.The injured were ...