06292016Wed
Last update: Wed, 29 Jun 2016 12pm

Asia

Markets - Energy - Asia

China's Oct Iran crude oil imports down 0.1pc on year: customs BEIJING: China's October Iranian crude oil imports edged down slightly from a year earlier to their lowest level in 14 months, official customs data showed on Monday, in part due to the outage at a petrochemical producer that suffered a fire in the spring.China, still Iran's top oil client, imported 1.44 million tonnes of Iranian oil last month, or 338,300 barrels per day (bpd), down 0.1 percent from a year ago and 18.8 percent lower from September, according to the custom data.That was the lowest oil volumes shipped in from Iran since August 2014, and less than the latest estimate of 407,400 bpd from Thomson Reuters Oil Research & Forecasts for China's Iranian crude imports in October. The research group expects imports from Iran to come in at 444,100 bpd in November.For the first ten months of the year, China brought in more than 22.3 million tonnes of Iranian crude ...

Markets - Energy - Asia

Middle East Crude-Refinery demand supported by weaker Dubai  SINGAPORE: The Middle East crude market was supported by healthy refining margins on Monday, while Dubai swaps weakened further against the Brent benchmark taking them to their lowest in more than a year.Brent's premium over Dubai swaps widened to $2.72 a barrel, the highest since July last year.Asian refiners rushed to secure cargoes because of expectations that supply may tighten as more Middle East crude flows to Europe, traders said.According to traders and shipping data, ...

Markets - Energy - Asia

Asia Fuel Oil-Crack gains, spreads tighten on arbitrage volumes  SINGAPORE: Asia's fuel oil crack for benchmark 180-centistoke rose on Monday, snapping three straight sessions of declines, amid uncertainty over the volume of arbitrage cargoes from the West next month and a drop in oil prices.The crack rose to a discount of $6.75 a barrel on Monday after reaching its highest in more than three months on Nov. 17.Between 3 million-4 million tonnes of oil is estimated to be on tankers heading East for arrival ...

Markets - Energy - Asia

Asia-Pacific Crude-Tight supply supports heavy sweets SINGAPORE: The Asia-Pacific crude market was supported by strong refinery demand on Monday even as Brent's premium to Dubai swaps widened to its highest since July last year.Brent's premium to Dubai swaps, or Brent-Dubai Exchange of Futures for Swaps (EFS), widened 12 cents to $2.72 a barrel, the highest since July last year.While a widening spread makes regional Brent-linked grades less attractive compared to Middle East grades, it also helps curb supply of cargoes from ...

Markets - Energy - Asia

Oil down in Asia on oversupply fears SINGAPORE: Oil prices fell in Asia on Monday, extending their slide as a stronger dollar and news that world stockpiles have reached a record high put pressure on futures.Crude dived to two-month lows on Friday after the International Energy Agency, the world's forecaster, said global commercial stocks had reached three billion barrels.Mounting expectations the US will raise interest rates for the first time in almost a decade next month also drove the dollar higher on ...