07012016Fri
Last update: Fri, 01 Jul 2016 04am

Markets - Energy

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha extends losses; discounts widen SINGAPORE: Asia's naphtha crack extended losses to touch its lowest in six sessions at $51.75 a tonne as heavy supplies dragged.South Korea's YNCC bought 50,000 to 75,000 tonnes of naphtha for first-half August delivery to Yeosu at a discount at levels around $3.50 a tonne to Japan quotes on a cost-and-freight (C&F) basis, traders said.The discount was steeper compared to purchases made in South Korea in the week of June 13 at an average of $3."Prices are cheaper as expected. There's no further impact from refiners switching yields," said a Singapore-based trader.Supplies of both naphtha and gasoline remain bountiful, traders said.Although the Singapore onshore light distillates stocks were down in the week to June 22, the weekly average for June was sharply higher compared to a year ago.Inventory levels were down by 6 percent or 815,000 barrels to reach a near six-month low of 12.961 million barrels in the week ...

Markets - Energy - Australia

Asia Fuel Oil-380-cst extends gains as inventories decline SINGAPORE: Cash differentials for Singapore 380-cst fuel oil narrowed their discounts for a fourth consecutive session on Thursday, following a 4 percent decline in onshore inventories.Discounts for 380-cst fuel narrowed 33 cents on Thursday to $1.85 a tonne below Singapore quotes. Three 380-cst fuel oil cash deals were reported totalling 60,000 tonnes and another three deals of the same volume were reported for the 180-cst fuel, industry sources said.As on Wednesday, Coastal was on both ...

Markets - Energy - Asia

Asia Distillates-Gasoil cash differential flips to discount SINGAPORE: Asia's gasoil cash differential for the benchmark 500ppm grade flipped to a discount on Thursday as the near-term demand and supply outlook offset a decline in weekly Singapore onshore inventories, traders said."Sentiment is weakening now because of the slower regional demand seen from the monsoon season and to some extent heavier supplies as refinery turnarounds are completed," one Singapore-based trader said.Bidding interest for benchmark 500ppm gasoil was relatively weaker in the cash markets on ...

Markets - Energy - Europe

Oil lifted by other markets ahead of Britain's EU vote LONDON: Oil prices rose by up to 2 percent, shrugging off a smaller-than-expected draw on US crude stocks as money and equity markets firmed after the last pre-vote opinion polls raised expectations that Britain will stay in the European Union. Markets, including commodities, have been on tenterhooks ahead of Thursday's referendum on Britain's EU membership. Most results are expected between 0100 and 0300 GMT, with a YouGov exit poll soon after voting closes at 2100 ...

Markets - Energy - Americas

US refineries boosted output by 349,948 bpd in 2015: EIA NEW YORK: US crude oil refining capacity grew by 349,948 barrels per calendar day (bpd), or 2 percentage points, in 2015 to 18.3 million bpd, according to the US Energy Information Agency's refinery capacity report posted late Wednesday. Most of the growth was in Texas, which added 218,503 bpd, as condensate splitters were built in Houston and Corpus Christi, Texas and existing refineries removed inefficiencies to boost crude oil intake. The number of operating refineries ...

Markets - Energy - Europe

Oil prices stage slight rebound LONDON: World oil prices rose on Thursday, reversing the previous day's losses that were caused by a smaller-than-expected drop in US crude inventories.Oil traders were meanwhile on tenterhooks as Britons headed to the polls in a high-stakes vote on whether to remain in the European Union.As with other financial markets, oil traders are closely watching the referendum as analysts warn that a British exit could see the country tumble into recession with global spillover effects.Around ...

Markets - Energy - Europe

Oil rises as investors focus on Britain's EU referendum LONDON: Oil prices rose by up to 2 percent on Thursday, shrugging off a smaller than expected draw on U.S. crude stocks as money and equity markets firmed after the last sweep of Brexit opinion polls raised optimism over Britain remaining in the EU.Global markets, including commodities, have been on tenterhooks for weeks ahead of Britain's referendum on European Union membership on Thursday. The majority of results are expected to come in between 0100 and ...