12092016Fri
Last update: Fri, 09 Dec 2016 12pm

Markets - Energy

Markets - Energy - Europe

Pimco cuts overweight position on emerging market equities LONDON: PIMCO said on Thursday said it had cut its overweight position in emerging market equities on concerns over US trade policy under President-elect Donald Trump. "We've cut our EM overweight down to neutral given the heightened risk of protectionist and anti-trade policies in the US," PIMCO portfolio managers said in a note, adding that the fund remains slightly overweight emerging market debt. The fund also said it had pared its "modest underweight" position on equities overall to a neutral position. The world's largest bond investor also said it saw US inflation-linked government bonds as the new "risk free" asset rather than fixed-rate US Treasuries. Copyright Reuters, 2016

Markets - Energy - Asia

Qatar cuts crude prices for November SINGAPORE: Qatar has set its November retroactive official selling price (OSP) for its Marine crude at $43.05 a barrel, down from $48.40 a barrel the previous month, a source with knowledge of the matter said on Thursday. Qatar set its November Qatar Land crude OSP at $45.20 a barrel, down from $50.25 in October. Copyright Reuters, 2016

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha edges up, fundamentals remain weak SINGAPORE: Asia's naphtha crack was up marginally at $58.38 a tonne while the contango between second-half January and second-half February remained at $2 a tonne for a second day, reflecting a market awash with supply.Contango is a market structure that reflects ample supplies versus backwardation which shows strong fundamentals.The Asian gasoline crack however retreated to a three-session low of $8.65 a barrel, mirroring the softness in the US market following an unexpected build up of ...

Markets - Energy - Asia

Asia Distillates-Gasoil differentials rise as 27 cargoes change hands SINGAPORE: Asian gasoil differentials edged higher on Thursday on the back of a wave of deals, in which 27 cargoes changed hands, trade sources said.Winson Oil was the main seller of the 27 cargoes, after being the main buyer of gasoil from mid-September to November.The company has been storing gasoil in ships and onshore tanks, and is likely to be taking advantage of a rise in underlying crude oil prices to sell them at a ...

Markets - Energy - Europe

Oil rallies over $50 despite OPEC output cut doubts LONDON: Oil prices recovered above $50 a barrel on Thursday, bouncing back from the week's lows as the dollar weakened against major currencies.The US dollar index fell as Treasury bond yields eased and investors eyed next week's Federal Reserve meeting. A weak dollar makes dollar-denominated oil less expensive for importing countries. "A slightly weaker US dollar is supportive of oil prices," said Michael McCarthy, chief market strategist at CMC Markets. Brent crude was up 50 ...

Markets - Energy - Asia

China Nov crude imports up 18pc on year, fuel exports at record BEIJING: China's crude oil imports rebounded strongly in November from the previous month and were up 18 percent on a year ago, while exports of refined fuel hit a record high as refiners rushed to ease an expanding domestic surplus.November crude oil imports at 32.35 million tonnes, or about 7.87 million barrels per day (bpd), up sharply from both 6.65 million bpd a year ago and 6.78 million bpd in October, data from the General ...

Markets - Energy - Asia

Oil prices shed early gains amid doubts over OPEC output cut SEOUL/SINGAPORE: Oil prices erased early gains to trade almost flat in Asian session on Thursday on mixed U.S. crude stocks data and doubts over OPEC's implementation of an output cut, although a weaker dollar aided sentiment.International Brent crude futures were trading up 2 cents at $53.02 a barrel at 0807 GMT. Prices fell to $52.81 a barrel earlier in the session.U.S. benchmark West Texas Intermediate crude was up 3 cents at $49.80 a barrel after ...