07242016Sun
Last update: Sun, 24 Jul 2016 07am

Asia

Markets - Energy - Asia

Oil rises as market seen in balance, but slow Asian demand hurts TOKYO/SINGAPORE: Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.Brent crude futures were trading at $50.60 per barrel at 0643 GMT, up 25 cents from their last settlement. U.S. crude was up 22 cents at $49.21.U.S. markets are closed on Monday for the U.S. Independence Day holiday."The bulls are seemingly once again on their relentless march to keep this market above $50," said Matt Stanley of oil brokerage Freight Investor Services (FIS) in Dubai.The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of producer club OPEC agreed that global oil markets were heading towards balance, and that prices reflect this.However, Stanley said there were also signs that prices could fall again soon, pointing at stalling gasoline demand and improving output in Canada and Nigeria.Attacks in the ...

Markets - Energy - Asia

Oil stable as market seen in balance, but slow Asian demand hurts TOKYO/SINGAPORE: Oil futures were steady on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.Brent crude futures were trading at $50.31 per barrel at 0441 GMT, almost unchanged from their last settlement. U.S. crude were down 5 cents at $48.94.There will be no West Texas Intermediate crude settlement on Monday as U.S. financial and commodity markets are closed for the U.S. ...

Markets - Energy - Asia

Oil prices edge up as Brent pushes further above $50 SINGAPORE: Crude prices edged up in Asia on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country's oil infrastructure.Prices see-sawed last week, plunging in the immediate aftermath of Britain's shock decision to leave the European Union but rallying after central banks worldwide vowed support to financial markets.At about 0325 GMT, US benchmark West Texas Intermediate was up four cents at $49.03, while Brent rose seven ...

Markets - Energy - Asia

Asia Distillates-Gasoil holds but China supply may hurt sellers SINGAPORE: Asia's gasoil crack edged down by 5 cents to $12.35 a barrel on Friday after the value shot to more than a six-month high in the previous session, boosted by trims in refinery runs due to maintenance at secondary units in South Korea and Taiwan.Some 1.9 million tonnes of diesel from Asia and the Middle East were seen sailing to Europe in June, giving Asian sellers an outlet outside the East.But eyes remained on ...

Markets - Energy - Asia

Oil prices up as global markets recover post Brexit SINGAPORE: Oil prices rose in Asia on Friday as traders welcomed assurances from central bank around the world that they were ready to step in to prevent a global rout following Britain's vote to leave the European Union.After the initial shock of last Thursday's referendum sparked a freefall, this week has seen a broad recovery across all asset classes.South Korea has promised of $17 billion in stimulus and speculation swirls that Japan is planning to ...

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 ...

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, ...