01192017Thu
Last update: Thu, 19 Jan 2017 05am

Markets - Energy

Markets - Energy - Asia

Asia Naphtha/Gasoline-Gasoline hits three-week high SINGAPORE: Asia's naphtha crack was at a three-session high of $66.28 a tonne on Wednesday, tracking the strength of gasoline where margins on petrol hit a three-week high of $9.47 a barrel due to firm demand, traders said."Gasoline has been going up this week so naphtha is getting a guide from that," said a Singapore-based trader.Robust demand for gasoline has countered China's strong exports in recent months.Official data showed that China exported about 940,000 tonnes of gasoline last month, up 8 percent from October and about 15 percent below a record high in June this year.Japan also exported more gasoline in the week to Dec. 17 versus the previous week, official data showed.As for naphtha, supplies continued to outpace demand despite a string of buyers scooping up cargoes since last week.A Japanese petrochemical buyer bought a naphtha cargo for first-half February delivery at a discount to Japan quotes on a ...

Markets - Energy - Asia

Asia Fuel Oil-Cash premiums slip as BP undercuts suppliers SINGAPORE: Cash premiums of 380-cst fuel oil sagged to a near two-week low after aggressive selling by BP in the Platts window, industry sources said.Premiums of 380-cst fuel oil were assessed 10 cents lower from the previous session at $2.20 a tonne to Singapore quotes, its lowest premium since Dec. 9.Five 380-cst fuel oil cargoes were traded in the window on Wednesday totalling 100,000 tonnes, all of which were offered by BP. Hin Leong lifted ...

Markets - Energy - Asia

Asia Distillates-Discount widens on higher supplies ahead SINGAPORE: Asia's cash discount for 500ppm gasoil widened 27 percent to 38 cents a barrel on Wednesday, the steepest discount in about two weeks as the pressure of high supply in the next months weighed.China exported 1.47 million tonnes of diesel in November, up 8.5 percent from October and 8.3 percent below the record high monthly level in September.The focus was still on Beijing not granting independent refiners, typically known as teapots, export quotas in ...

Markets - Energy - Asia

Oil prices edge up on expected US crude inventory draw SINGAPORE: Oil prices nudged higher on Wednesday on expectations of a U.S. crude inventory draw, although trading activity was muted as markets start to wind down ahead of the Christmas weekend.U.S. West Texas Intermediate (WTI) crude oil futures were trading at $53.56 per barrel at 0634 GMT, up 26 cents from their last settlement.International Brent crude oil futures were at $55.57 a barrel, up 22 cents.Traders said the higher prices were largely due to an ...

Markets - Energy - Asia

India's Iran oil imports slide 19pc in Nov, Saudi regains top supplier slot NEW DELHI: India's oil imports from Iran fell 19 percent in November from a record high the previous month after regional rivals Saudi Arabia and Iraq raised sales to the world's third-biggest oil consumer, regaining their positions as the top two suppliers.Shipments from Tehran, Western sanctions against which were lifted earlier this year, were about 620,000 barrels per day (bpd) oil in November, according to ship tracking data and a report compiled by Thomson Reuters ...

Markets - Energy - Europe

Brent crude speculators raise bullish holdings to record high LONDON: Speculators raised their holdings of Brent crude oil futures to a new record high last week, inspired by the first deal in 15 agreed by non-OPEC producers to join output cuts of the Organization of the Petroleum Exporting Countries. Data from the InterContinental Exchange on Monday showed investors increased their net long position by 25,276 contracts to 477,861 lots in the week to Dec 13. That exceeds the previous record of 452,585 lots seen ...

Markets - Energy - Asia

Asia Distillates-Gasoil cash discount narrows on tighter supplies SINGAPORE: The cash discount on Asia's 500ppm gasoil grade was at its narrowest for this month on Monday at 10 cents a barrel, thanks to tighter global supplies and firmer demand especially in India.India's diesel sales in November jumped more than 10 percent on a year-on-year basis, official data showed last week.The country's stronger demand could be attributed to its demonetization move, consultancy firm FGE said in a note this month."The surprise move to scrap ...