08292016Mon
Last update: Mon, 29 Aug 2016 05am

Asia

Markets - Energy - Asia

India's July Iranian crude imports surge 21pc to five-month high NEW DELHI: India's July oil imports from Iran rose by over a fifth from June, surging to its highest level in five months as two state- run refiners resumed shipments from Tehran after a gap of years, preliminary tanker arrival data obtained by Reuters show.Hindustan Petroleum Corp and Bharat Petroleum , India's second- and third-biggest state-owned refiners respectively, halted Iranian oil imports after western sanctions against Tehran's nuclear programme barred insurance cover for plants processing Iranian oil.India shipped in 461,000 barrels per day (bpd) of Iranian oil in July, a nearly 21 percent increase from June and more than double than the about 215,000 bpd imported a year ago, tanker arrival data and ship-tracking services on the Thomson Reuters terminal show.India's oil imports from Iran for the fiscal year that began in April are set to surge to a seven-year high, with the nation's state-owned and private refiners together buying ...

Markets - Energy - Asia

Middle East Crude-Oman rises to 2-month high  SINGAPORE: Middle East crude benchmarks were mixed on Wednesday with DME Oman's premium to Dubai swaps hitting a 2-month high while cash Dubai weakened for a second session.Unipec and Reliance sold nine October Dubai partials to Chinaoil, mostly at $38.60, during the window, traders said, putting cash Dubai at a discount of 60 cents a barrel to swaps, 8 cents lower than the previous session.Mercuria sold a December partial to Unipec at $39.40 a barrel, ...

Markets - Energy - Asia

US crude remains below $40 as oversupply weighs SINGAPORE: Oil prices remained weak on Wednesday, with U.S. crude below $40 per barrel and Brent under $42, as fuel oversupply and stuttering economic growth weighed on markets, although prices did receive some support from a weaker dollar.U.S. West Texas Intermediate (WTI) crude futures were trading at $39.54 per barrel at 0651 GMT, slightly above their last close and well below the $40 marker they settled below for the first time since April in the ...

Markets - Energy - Asia

Oil edges higher in Asia but US crude stays below $40 SINGAPORE: Oil edged higher in Asia Wednesday after industry data showed a decline in US crude inventories, but prices stayed below $40 a barrel amid ongoing concerns over a supply glut.US crude dropped below the $40 dollar mark for the first time since April on Tuesday, a day after the commodity sank into a bear market, with oversupply, weak demand and expectations of rising output sending prices tumbling over 20 percent since June.But prices got ...

Markets - Energy - Asia

US crude edges back over $40, but oversupply still weighs SINGAPORE: Oil prices edged up on Tuesday after U.S. crude broke below $40 per barrel the previous session, but traders said fuel markets continued to be dogged by excess production.U.S. West Texas Intermediate (WTI) crude was at $40.21 a barrel at 0649 GMT, up 15 cents from its last close after dipping below $40 for the first time since April the previous session.International Brent crude oil futures were trading at $42.33 per barrel, up 19 ...

Markets - Energy - Asia

Oil prices push higher after entering bear market SINGAPORE: Oil prices pushed higher on Tuesday, scraping back losses as bargain-buyers took advantage of a weaker dollar, the day after slipping into a bear market.Crude dipped below $40 a barrel on Monday after US data pointed to an unexpected increase in commercial oil and gasoline supplies, adding to concerns about a lasting supply glut.Oil settled down more than a fifth from its June highs in New York, meaning it is now in a bear ...

Markets - Energy - Asia

Oil rises after month of steady decline but oversupply still weighs SINGAPORE: Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook.Brent crude was at $43.72 per barrel at 0440 GMT, up 19 cents from its last close in July, when it lost 12 percent over the month.U.S. West Texas intermediate was at 41.76 per barrel, up ...