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Asia

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 expected reduction in U.S. crude oil inventories, which will be reported late on Wednesday.Jeffrey Halley, analyst at futures OANDA in Singapore said U.S. crude stocks were expected to fall by 2.563 million barrels.In the absence of strong fundamentals, traders said that technical support and resistance levels would become price drivers."U.S. oil may rise to $54.37 per barrel, as it has broken resistance at $53.36," said Reuters technical commodities analyst Wang Tao."Brent oil is poised to ...

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 - 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 ...

Markets - Energy - Asia

Oil prices rise in anticipation of tighter 2017 market SINGAPORE: Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices.Brent crude futures, the international benchmark for oil prices, were trading at $55.57 per barrel at 0401 GMT, up 36 cents, or 0.7 percent, from their last close.U.S. West Texas Intermediate (WTI) crude oil futures were up 43 cents, or 0.8 percent, at $52.33 a barrel.Traders ...

Markets - Energy - Asia

Asia Fuel Oil-Ex-wharf premiums rise as prompt supply weighs SINGAPORE: Ex-wharf premiums in Asia's fuel oil markets rose on Friday as fewer supplier offers failed to meet firm demand for the marine fuel at a time when buyers are keen to lock in supplies ahead of the holiday season this month, industry sources said."End-user requirements are starting to come in for year-end supply," said one Singapore-based bunker fuels trader.Another bunker trader said the market "is seriously tight" in terms of "volumes and availability" in ...

Markets - Energy - Asia

Russia's Gazprom Neft sees 2017 oil output 'slightly' higher TOKYO: Russian oil producer Gazprom Neft said on Friday its average output next year would be slightly higher than in 2016 despite Russia's deal with OPEC to cut production. This is compared to initial plans which had called for oil output growth of between 5 and 6 percent next year. The company's CEO Alexander Dyukov said Russian oil firms would be able to swap quotas between themselves to achieve the collective reduction in Russian output ...

Markets - Energy - Asia

Oil prices stabilise after Fed hike as tighter market looms SINGAPORE: Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S. interest rate increase that drove investors out of commodities.International Brent crude oil futures were trading at $53.93 a barrel at 0649 GMT, up 3 cents from their last close.U.S. West Texas Intermediate (WTI) crude oil futures were at $50.96 per barrel, down 8 cents from ...