07302016Sat
Last update: Sat, 30 Jul 2016 12pm

Asia

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 500ppm grade gasoil and a premium of 90 cents for 10ppm grade.Recent strong demand from South and Southeast Asia and lower exports from Taiwan and India also have given the market some respite after ample supplies kept the 500ppm cash differentials at discounts to Singapore quotes throughout January to lateApril.Firm demand was also seen in Pakistan, where its gasoil imports jumped to a record high of 132,000 barrels per day in May due, consultancy FGE ...

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 ...

Markets - Energy - Asia

Asia Fuel Oil-Fuel oil crack strengthens as July supplies narrow SINGAPORE: Asia's fuel oil crack for benchmark 180-centistoke was at its narrowest discount to Dubai crude in more than four months at $6.02 a barrel on Tuesday, lifted by fewer Western cargoes arriving into East Asia next month and tightening producer exports.Fewer cargoes are expected to arrive into East Asia in July from the West as a result of a tightly shut arbitrage window throughout the second half of May and the first half of ...

Markets - Energy - Asia

Asia Distillates-Gasoil seen higher on recent lower overall exports SINGAPORE: Asia's gasoil crack for benchmark 500ppm grade hit a four-session high of $11.90 a barrel on Tuesday, supported by brisk deals in the Singapore cash market.A total of 1.05 million barrels of gasoil were transacted in Singapore's cash market, the highest volume traded in a single session since Feb. 11, Reuters data showed.Lower levels of middle distillates exports from key suppliers had also recently given the market a lift as that helped offset record ...

Markets - Energy - Asia

Oil prices up in Asia but traders on edge over Brexit crisis SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain hunting but tremors from Britain's shock vote last week to leave the European Union continue to dampen buying sentiment.The pick-up in the black gold came in line with a recovery in Asian stock markets as speculation swirls that authorities could unveil stimulus measures to offset the impact of the so-called Brexit.At around 0635 GMT, US benchmark West Texas Intermediate rose 63 cents, or 1.36 percent, to ...

Markets - Energy - Asia

Oil prices stabilize after Brexit vote, but refined products glut looms SINGAPORE: Oil prices stabilized on Monday as market participants better absorbed the shock of last week's vote in Great Britain to leave the European Union and recognised the referendum would have little effect on global fuel demand.Brent crude futures were trading at $48.76 a barrel by 0650 GMT on Monday, up 35 cents from their last settlement.U.S. crude was up 18 cents at $47.81 a barrel.Both crude benchmarks had fallen around 5 percent on Friday ...