09272016Tue
Last update: Tue, 27 Sep 2016 12am

Asia

Markets - Energy - Asia

Oil prices rebound after Algeria says all options open at OPEC meeting SINGAPORE: Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.That came after prices tumbled 4 percent on Friday amid signs Saudi Arabia and Iran were making little progress in achieving preliminary agreement to freeze production.Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, where they will discuss a possible output-limiting deal."We will not come out of the meeting empty-handed," Algerian energy minister Noureddine Bouterfa said in Algiers on Sunday.A weaker U.S. dollar also supported oil prices.Brent crude futures had climbed 39 cents to $46.28 a barrel as of 0330 GMT after settling down $1.76, or 3.7 percent, at the previous close. The benchmark advanced 0.3 percent last week.U.S. West Texas Intermediate ...

Markets - Energy - Asia

Oil edges higher ahead of OPEC meeting SINGAPORE: Oil prices rose modestly in Asia on Monday ahead of a producers' meeting this week that might agree to cap supplies.But analysts warned the wellspring of optimism should be tempered by experience of two years of gluts and disagreement among members of the Organization of Petroleum Exporting Countries (OPEC).OPEC and Russia are slated to begin meeting later Monday on the sidelines of the International Energy Forum in Algiers, looking for ways to stabilise prices ...

Markets - Energy - Asia

Middle East Crude-Condensate prices under pressure SINGAPORE: Condensate prices came under pressure on Friday after Qatar sold prompt cargoes as the start-up of its new splitter was delayed, traders said on Friday.Qatari state oil marketer Tasweeq has sold 1 million barrels, or two cargoes, of deodorised field condensate (DFC) at $1.90 a barrel above Dubai quotes that will load in October, they said. The buyers were not immediately known."Most of the buyers would have covered their demand," a trader said, adding ...

Markets - Energy - Asia

Oil prices ease as focus shifts to producers' meeting SINGAPORE: Oil prices eased on profit-taking in Asian trade Friday following two days of solid gains as traders turned their attention to next week's planned meeting of key producers.Russia and members of the OPEC oil cartel led by Saudi Arabia will gather in Algeria for three days from Monday and are expected to discuss a stubborn supply glut that has depressed prices since 2014.Traders are uncertain that a deal can be reached on freezing or ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha time spreads turn positive on Qatar delay SINGAPORE: Asia's naphtha crack extended gains to reach a nearly four-month high of $60.93 a tonne while the intermonth spreads flipped to a premium or backwardation for the first time since April 27 on demand and expectations of lower supplies.When fundamentals are strong, the front-month price is usually higher than the following month. The current strength in the market was driven mainly by supply, traders said.Qatargas has delayed the start-up of its new 146,000 barrels ...

Markets - Energy - Asia

Oil prices climb on weaker dollar, after US crude stock draw SINGAPORE: Oil prices rose on Thursday, lifted by a weaker dollar and extending gains from the previous session when a surprise third consecutive weekly US crude inventory draw tightened supply.US West Texas Intermediate (WTI) crude oil futures were trading at $45.76 per barrel at 0659 GMT, up 42 cents, or 0.9 percent, from their previous close. The contract gained as much as 3 percent the day before.International benchmark Brent crude futures were also up, gaining ...

Markets - Energy - Asia

Oil climbs 1 percent after surprise US crude stock draw SINGAPORE: Oil prices rose around 1 percent on Thursday, extending gains from the previous session after a surprise third consecutive weekly US crude inventory draw tightened the market.US West Texas Intermediate (WTI) crude oil futures were trading at $45.81 per barrel at 0301 GMT, up 47 cents, or 1 percent, from their previous close. The contract had already gained as much as 3 percent the day before.Prices jumped after a report from the US Energy ...