07262016Tue
Last update: Tue, 26 Jul 2016 03am

Asia

Markets - Energy - Asia

Oil prices extend losses on supply glut SINGAPORE: Oil prices dipped in Asia on Friday, extending the previous day's sharp losses, while analysts warned the ongoing global supply glut would likely linger.The commodity has come under pressure in recent weeks following Britain's shock EU exit vote, while the US heads for the end of the summer holiday driving season with stockpiles still high.Prices sank two percent Thursday as traders were left disappointed by the lack of forward guidance from the European Central Bank on its stimulus, while the Bank of Japan's governor threw cold water on hopes for robust measures from Tokyo.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Energy - Asia

Oil prices edge up on weaker dollar SINGAPORE: Oil prices ticked higher Friday following the previous day's sharp losses and helped by a weaker dollar, but analysts warned worries over the global supply glut would limit gains.The commodity has come under pressure in recent weeks following Britain's shock EU exit vote, while the US heads for the end of the summer holiday driving season with stockpiles still high.Prices sank two percent Thursday as traders were left disappointed by the lack of forward ...

Markets - Energy - Asia

Oil edges up on increased US stockpile SINGAPORE: Oil prices edged up in Asia Thursday following US data showing a drop in crude inventories, a sign of a tightening supply market.Crude stockpiles fell by 2.3 million barrels last week -- the ninth week in a row -- data from the US Department of Energy showed.This helped offset a surprise rise in gasoline inventories over the summer -- traditionally the peak demand season for motor fuel.At about 0330 GMT, US benchmark West Texas ...

Markets - Energy - Asia

Bangladesh holds first tender for fuel oil, seeks 160,000 tonnes DHAKA: Bangladesh Petroleum Corp (BPC) has issued its first tender to buy fuel oil as part of efforts to move away from direct-term deals with fuel products suppliers to try to buy at cheaper rates.State-owned BPC is seeking 160,000 tonnes of 180-centistoke high sulphur fuel oil, a tender document showed. The tender closes on July 20 and is valid till Oct. 2.In February, BPC issued its first tender to buy oil products in 15 years ...

Markets - Energy - Asia

Oil prices rise in Asia after positive US, China data SINGAPORE: Oil prices extended their rise in Asia Monday as robust economic data from the United States and China fuelled hopes of a pick-up in demand from the world's top two economies.While a sense of calm has returned to Turkey following a failed coup attempt over the weekend, analysts said the situation remains volatile as authorities press on with a ruthless crackdown against the plotters, detaining 6,000 people.At about 0735 GMT, US benchmark West Texas ...

Markets - Energy - Asia

Bangladesh seeks 160,000 tonnes of fuel oil in first tender DHAKA: Bangladesh Petroleum Corp (BPC) has issued its first tender to buy fuel oil, in a move from direct-term deals with suppliers, as it opens its purchasing contracts. The company is seeking 160,000 tonnes of 180-centistoke high sulphur fuel oil, a tender document showed.The tender closes on July 20 and is valid till Oct. 2.In February, BPC issued its first tender to buy oil product in 15 years, with over 11 million barrels of diesel ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha recovers but prices stay depressed SINGAPORE: Asia's naphtha crack snapped seven straight sessions of losses on Friday, recovering from a 1-1/2 year low to a three-session high of $39.58 a tonne, tracking Brent oil's gains.Heavy supplies however persisted and traders expect the weak outlook to last through third quarter and could even extend into fourth quarter.Traders said the weak fundamentals could have prompted South Korea's Hanwha Total to withdraw an offer for naphtha scheduled for first-half August lifting although this ...