07282016Thu
Last update: Thu, 28 Jul 2016 05am

Asia

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, discounts of 380-cst fuel oil were 46 cents wider from the previous close at $1.57 a tonne below Singapore quotes. Onshore Singapore fuel oil inventories fell by 2.656 million barrels (about 396,000 tonnes) to a 10-week low in the week to June 29, latest data from International Enterprise showed.At a total of 25.56 million barrels in the week to June 29, the latest onshore fuel oil inventories were 9.4 percent lower than last week and ...

Markets - Energy - Asia

Iran's July oil exports to fall but 70pc higher than year ago: source TOKYO: Iran's oil exports in July are set to fall from June levels as the country battles Saudi Arabia and Iraq for market share but are about 70 percent higher than a year ago, according to a source with knowledge of the country's crude lifting plans.Exports will be about 2.14 million barrels per day (bpd) in July, down from about 2.31 million bpd in June, the highest since January 2012, the source said. The decline ...

Markets - Energy - Asia

Oil falls on improving supply outlook, economic worries SINGAPORE: Oil prices fell on Thursday as the prospects for supply improved while the economic outlook darkened, but analysts said they still expect prices to rise in the second half of the year.Brent crude futures were trading at $50.19 per barrel at 0655 GMT, down 42 cents, or 0.83 percent, from their last settlement. U.S. crude was down 37 cents, or 0.74 percent, at $49.51 a barrel.The lower prices were a result of a higher ...

Markets - Energy - Asia

Oil prices dip on oversupply concerns SINGAPORE: Oil prices fell in Asia on Thursday as supply outlook improved with both commodities hovering close to the key $50 mark, worrying traders about producers coming back online.Crude dipped after two days of strong gains which saw the commodity soar past the benchmark that makes financial sense for producers to restart production.Prices had been falling following the global financial market turmoil that followed last week's British vote to bolt out of the European Union.Official ...

Markets - Energy - Asia

Asia Distillates-Gasoil holds steady; high volume of cash deals done SINGAPORE: Asia's gasoil benchmark 500ppm grade cash differential to Singapore quotes extended gains to reach a premium of 21 cents a barrel, supported by brisk cash deals.A total of 750,000 barrels of gasoil had changed hands, bringing the total volume traded between June 1 and 29 to about 6.3 million barrels compared with 3.9 million barrels for the whole of May.The deals were done in premiums of 20 to 30 cents to Singapore quotes for ...

Markets - Energy - Asia

Oil prices rise on Norway strike threat; Brexit shock fades SINGAPORE: Oil rose on Wednesday as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply.Brent crude futures were trading at $48.84 per barrel at 0422 GMT, up 26 cents from their last settlement. U.S. crude was up 35 cents at $48.20 a barrel.Both oil benchmarks had climbed on Tuesday after ...

Markets - Energy - Asia

Gas Malaysia raises non-power gas tariff by 5.95pc from July 15 KUALA LUMPUR: Gas Malaysia Bhd , the country's sole supplier of natural gas except to the power sector, announced a 5.95 percent rise in gas tariffs for the commercial and industrial sectors beginning July 15. Residential customers, however, will not be affected by the tariff hike, said Gas Malaysia in a stock exchange filing on Wednesday.The average gas tariff will be raised to 27.05 per million British thermal units (mmBtu) from 25.53 ringgit per mmBtu.Copyright ...