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Brent nudges up near $110 on Ukraine tensions SINGAPORE: Brent edged up toward $110 a barrel on Monday, heading towards a recent seven-week high, as tensions rose in Ukraine and Libya delayed the re-opening of a damaged eastern port. The United States and Europe are preparing new sanctions against Russia as tensions escalated in eastern Ukraine. Pro-Russian rebels paraded European monitors they are holding on Sunday, freeing one but saying they had no plans to release another seven. June Brent crude was at $109.81 a barrel, up 23 cents, by 0428 GMT after settling down 75 cents on Friday. US crude for June delivery added 40 cents to $101.00 a barrel. On Friday, the contract settled at its lowest level since April 7, due to pressure from all-time high crude inventories recorded in the week of April 18. "If the conflict between the countries escalates, increased fuel demand for military use and heightened risk of disruption will likely ...
Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asian trade Monday, supported by tensions in Ukraine while investors await the US Federal Reserve's policy meeting later this week.New York's West Texas Intermediate for June delivery, was up 27 cents at $100.87 in mid-morning trade, and Brent North Sea crude for June advanced 24 cents to $109.82.Pro-Russian militants in Ukraine on Sunday presented a captured team of eight international observers on a military inspection mission as "prisoners of war".The ...
Russian fuel oil set to lose top spot in China this year SINGAPORE: Russia's three-year position as China's top fuel oil supplier looks shaky as it keeps more of the product to process domestically, while Venezuela and Singapore ramp up exports to the Chinese market to fill the gap. Increased competition from Japan and South Korea for Russian straight-run fuel oil (SRFO) has also boosted spot premiums to what some traders say are the highest ever, encouraging China's independent "teapot" refineries to trim run rates or use ...
Sinopec books shale gas sales of at least 1.0 bcm this year BEIJING: Chinese oil giant Sinopec Corp has booked sales of shale gas of at least 1.0 billion cubic metres (bcm) for this year from its first commercial shale gas production area in southwest China, a local newspaper said on Friday. Stymied by the cost of drilling and complexity of tapping shale gas, China has struggled in its bid to revolutionize its energy supplies and unlock what may be the world's largest shale gas reserves by ...
Iran announces stiff petrol price hikes TEHRAN: Iran announced petrol price hikes as high as 75 percent to take immediate effect Friday, in a long-awaited attempt to regulate energy prices in the country's flatlining, sanctions-hit economy. The increases, which took effect at midnight, are part of the second phase of government plans to remove all energy subsidies. The cost of electricity and domestic gas went up by 25 percent earlier this year as part of the same programme.Iranians are entitled to ...


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