02112016Thu
Last update: Thu, 11 Feb 2016 03pm

Asia

Markets - Energy - Asia

Asia-Pacific Crude-Steady to slightly weaker on easing refinery demand SINGAPORE: Spot differentials in the Asia-Pacific crude market were steady to slightly lower on Thursday as refinery demand for March cargoes eased.Spot premiums for Russian Sokol crude held steady after ONGC sold a March 18-24 cargo to BP at around $5 a barrel above the Oman/Dubai average, according to traders.That would be equivalent to about $5.20-$5.30 a barrel against Dubai quotes, one trader said.For Malaysian grades, a cargo of Kimanis loading on March 14-18 was sold at a lower premium compared with the previous month in a tender by Petroleum Brunei, traders said. The details of the tender were unclear.U.S. refiner Par Pacific has imported a cargo of Malaysian Kikeh and Tembikai crude for its Honolulu plant, the first imports from the Southeast Asian country in a year.The refiner bought 730,000 barrels of light sweet Malaysian crude, of which the Kikeh grade made up 630,000 barrels and the Tembikai grade ...

Markets - Energy - Asia

Oil prices resume slide in Asia on glut woes SINGAPORE: Oil resumed its slide in Asia Thursday, reversing earlier gains as the supply glut and weak demand that sent prices to more than 12-year lows showed no sign of letting up.The commodity has taken a hammering so far in 2016, with both main contracts already down about 25 percent.On Wednesday, US benchmark West Texas Intermediate (WTI) fell below $27 a barrel for the first time since May 2003, days after Brent touched below $28.Bargain-hunting ...

Markets - Energy - Asia

Oil prices dip again as oversupply weighs on market SINGAPORE: Oil prices dipped on Thursday, erasing modest early gains as analysts said a persistent global surplus of crude would keep pressuring the market.U.S. oil futures plunged below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets as investors worried that a huge oversupply in crude was coinciding with an economic slowdown, especially in China.Broad market sentiment remained bearish as producers around the ...

Markets - Energy - Asia

US crude oil prices stabilise but market sentiment remains bearish SINGAPORE: US crude oil prices stabilised in early Asian trade on Thursday after hitting fresh 2003 lows the session before, but analysts said a persistent global glut would keep pressuring markets.U.S. oil futures crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets as traders worried that a huge oversupply in oil was coinciding with an economic slowdown, especially in China.In early ...

Markets - Energy - Asia

Oil prices stabilise but market sentiment remains bearish SINGAPORE: Oil prices stabilised in early trading on Thursday after hitting fresh 2003 lows the session before, but analysts said a persistent global glut would keep pressuring markets.U.S. oil futures crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets as traders worried that a huge oversupply in crude was coinciding with an economic slowdown, especially in China.On Thursday, oil prices stabilised, ...

Markets - Energy - Asia

Oil prices rebound in Asia but glut woes remain SINGAPORE: Oil rose in Asia Thursday, giving a much-needed breather to the battered crude market, but traders remain on edge as the supply glut and weak demand that has sent prices to more than 12-year lows shows no sign of letting up.The battered commodity has taken a hammering so far in 2016, with both main contracts already down about 25 percent.On Wednesday US benchmark West Texas Intermediate fell below $27 a barrel for the first ...

Markets - Energy - Asia

Middle East Crude-Dubai strengthens on Chinaoil's bids  SINGAPORE: The Middle East crude benchmark Dubai strengthened on Wednesday due to robust demand from Chinaoil.Cash Dubai's discount to swaps narrowed close to 20 cents after the trading arm of PetroChina bought 10 Dubai partials during the Platts MoC process from Shell and Unipec. Shell will deliver an al-Shaheen crude cargo to Chinaoil following the deals, traders said.This is the third al-Shaheen cargo to be delivered since it was introduced as a deliverable grade in ...