07012016Fri
Last update: Fri, 01 Jul 2016 11am

Asia

Markets - Energy - Asia

Asia-Pacific Crude-ESPO holds steady, Thang Long weakens SINGAPORE: The Asia-Pacific crude market stayed weak as PV Oil sold Thang Long at a lower differential compared with the previous month, traders said on Friday.The 200,000-barrel cargo loading on Aug. 21-27 was sold to Unipec at a small discount to dated Brent, they said. The crude was sold in the previous month at around parity to the benchmark.Russian ESPO crude held steady after Surgutneftegaz sold cargoes loading in end-August to early September at premiums of $2-$2.20 a barrel to Dubai quotes, traders said.The low price may have attracted some demand from Chinese teapots, a trader said. Copyright Reuters, 2016 ...

Markets - Energy - Asia

Asia Fuel Oil-380-cst contango and cash discounts widen despite inventory draw SINGAPORE: Front-month July-August time spreads and cash discounts of 380-cst fuel edged lower on Thursday despite a drop in Singapore onshore fuel oil inventories to a 10-week low."It's a bit odd that the market weakened today, but maybe traders are taking a breather after yesterday's rally," one Singapore-based trader said.The time spreads widened their contango structure on Thursday to $1.25 a tonne below Singapore quotes, down 25 cents from the previous settlement.In the cash markets, ...

Markets - Energy - Asia

Iran's July oil exports to fall but 70pc higher than year ago: source TOKYO: Iran's oil exports in July are set to fall from June levels as the country battles Saudi Arabia and Iraq for market share but are about 70 percent higher than a year ago, according to a source with knowledge of the country's crude lifting plans.Exports will be about 2.14 million barrels per day (bpd) in July, down from about 2.31 million bpd in June, the highest since January 2012, the source said. The decline ...

Markets - Energy - Asia

Oil falls on improving supply outlook, economic worries SINGAPORE: Oil prices fell on Thursday as the prospects for supply improved while the economic outlook darkened, but analysts said they still expect prices to rise in the second half of the year.Brent crude futures were trading at $50.19 per barrel at 0655 GMT, down 42 cents, or 0.83 percent, from their last settlement. U.S. crude was down 37 cents, or 0.74 percent, at $49.51 a barrel.The lower prices were a result of a higher ...

Markets - Energy - Asia

Oil prices dip on oversupply concerns SINGAPORE: Oil prices fell in Asia on Thursday as supply outlook improved with both commodities hovering close to the key $50 mark, worrying traders about producers coming back online.Crude dipped after two days of strong gains which saw the commodity soar past the benchmark that makes financial sense for producers to restart production.Prices had been falling following the global financial market turmoil that followed last week's British vote to bolt out of the European Union.Official ...

Markets - Energy - Asia

Asia Distillates-Gasoil holds steady; high volume of cash deals done SINGAPORE: Asia's gasoil benchmark 500ppm grade cash differential to Singapore quotes extended gains to reach a premium of 21 cents a barrel, supported by brisk cash deals.A total of 750,000 barrels of gasoil had changed hands, bringing the total volume traded between June 1 and 29 to about 6.3 million barrels compared with 3.9 million barrels for the whole of May.The deals were done in premiums of 20 to 30 cents to Singapore quotes for ...

Markets - Energy - Asia

Oil prices rise on Norway strike threat; Brexit shock fades SINGAPORE: Oil rose on Wednesday as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply.Brent crude futures were trading at $48.84 per barrel at 0422 GMT, up 26 cents from their last settlement. U.S. crude was up 35 cents at $48.20 a barrel.Both oil benchmarks had climbed on Tuesday after ...