12042016Sun
Last update: Sun, 04 Dec 2016 09pm

Asia

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha strengthens on seasonal factors SINGAPORE: Asia's naphtha crack rose to a three-session high of $80.60 a tonne on Thursday, ending three straight days of losses as strong fundamentals led by seasonal factors reversed the tide.Traders said fewer naphtha cargoes typically come to Asia during winter as petrochemical makers in the west turn to naphtha when liquefied petroleum gas (LPG) becomes less widely available as a raw material due to heating demand."The prompt month is firm but this is due to seasonal factors. Going forward, the market is expected to be weak," said one Singapore-based trader.Supplies are expected to be plentiful due to new refining capacities and new condensate splitters.India's Bharat Petroleum Corp Ltd (BPCL) is expected to increase its naphtha spot supply once it completes the expansion of its Kochi refinery in 2017.Expectations of a well-supplied market ahead were the key reason behind 2017 deals being sealed at lower premiums compared with 2016 contracts ...

Markets - Energy - Asia

Oil prices fall on US crude stock build, OPEC remains in focus SINGAPORE: Crude oil futures dropped on Thursday after official inventory reports indicated a larger-than-expected build in US oil stocks.Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels.The climb in inventories was mainly due to higher imports that averaged 910,000 barrels per day (bpd), according to data released by the US Energy Information Administration on Wednesday.US benchmark WTI ...

Markets - Energy - Asia

Oil prices extend rally, shrug off US stock build TOKYO: Oil futures rose on Wednesday, shrugging off an industry report that showed an unexpected build in US crude stocks, and adding to gains of nearly 6 percent from the previous session.Oil prices had surged on Tuesday as members of the Organization of the Petroleum Exporting Countries (OPEC) were set to renew efforts on concrete steps to implement a deal on cutting output in the face of a persistent global glut.US benchmark crude was up ...

Markets - Energy - Asia

Oil prices rise on falling shale output, renewed hopes of OPEC cut SINGAPORE: Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts.U.S. crude futures for December delivery had climbed 90 cents, or 2.1 percent, to $44.22 a barrel by 0340 GMT. They struck their lowest in nearly two months the session before.January Brent futures were up 81 cents, or ...

Markets - Energy - Asia

China Oct crude oil output drops to lowest since May 2009 BEIJING: China's daily crude oil production in October fell to the lowest in more than seven years, statistics bureau data showed on Monday, as producers remain reluctant to drill new wells amid tepid oil prices and as output drops from aging wells.Oil output last month in China, the world's second-largest crude consumer, dropped 11.3 percent from the same time a year ago to 16.05 million tonnes, the National Bureau of Statistics reported. The figure is ...

Markets - Energy - Asia

Oil steady near multi-month lows on OPEC output record, US rig count TOKYO: Oil prices were little changed on Monday near multi-month lows, dragged down by worries about oversupply as OPEC saw record output last month and as the US rig count rose again.London Brent crude for January delivery was trading up 4 cents at $44.79 a barrel by 0738 GMT, after settling down $1.09 on Friday. The benchmark on Friday hit its lowest since Aug. 11 at $44.19.NYMEX crude for December delivery was down 5 cents ...

Markets - Energy - Asia

Middle East Crude-Benchmarks rise on news al-Shaheen exports would drop SINGAPORE: The Middle East crude benchmarks rose to their strongest this month on Friday on news that oilfield maintenance in Qatar will hit exports of al-Shaheen.Al-Shaheen exports are expected to fall to 10 cargoes in January from the usual 16-18 cargoes, traders said.Tasweeq only offered two cargoes in its tender. (see below)Physical trade kicked off on Friday after an oil major sold 500,000 barrels of Qatar Land to a southeast Asian end user at 25 ...