05292016Sun
Last update: Sun, 29 May 2016 07am

Asia

Markets - Energy - Asia

Asia-Pacific Crude-Excess supply weighs on market SINGAPORE: The Asia-Pacific crude market remained under pressure on Tuesday due to excess supply as sellers held onto their unsold cargoes from the previous month."The July regional market is weak because of the overhang," said a trader.Still, a narrowing of July Brent's premium to Dubai swaps may support spot differentials for regional grades, the trader added.Brent-Dubai Exchange of Futures for Swaps (EFS) was $3.15 a barrel on Tuesday, 7 cents narrower than the previous session.For condensate, Shell sold its June-loading North West Shelf (NWS) cargo to Unipec and bought a cargo from Petronas, traders said. It was unclear if BP has sold its June cargo.July-loading NWS supplies will return to the normal four cargoes, up one from the previous month, as maintenance ends.Copyright Reuters, 2016 ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha edges up but supplies still ample SINGAPORE: Asia's naphtha crack edged up by about 2 percent to reach a three-session high of $52 a tonne on Monday after falling to a two-month low in the previous session.But traders said supplies remained ample.Lower incoming Western cargoes were being offset by high refinery runs in Asia, causing the glut to persist, they said."We are still generally bearish. Gasoline support for naphtha is not there," said a Singapore-based industry source.Naphtha, depending on its grade, ...

Markets - Energy - Asia

China April exports, imports decline more than expected BEIJING: China's exports and imports fell more than expected in April, underlining weak demand at home and abroad and cooling hopes of a recovery in the world's second-largest economy. Exports fell 1.8 percent from a year earlier, the General Administration of Customs said on Sunday, reversing the previous month's brief recovery and supporting the government's concerns that the foreign trade environment will be challenging in 2016. April imports dropped 10.9 percent from a year earlier, ...

Markets - Energy - Asia

Iran oil and gas condensate exports reaches 2,450,000 BPD DUBAI: Iran's oil and gas condensate exports have reached 2,450,000 barrels per day, Oil Minister Bijan Zanganeh was quoted as saying by ministry news agency SHANA on Saturday. He also said there was no obstacle to Iran regaining its lost share of the oil market after the lifting of international sanctions against Tehran in January.Copyright Reuters, 2016 ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha and gasoline remain locked in bear run SINGAPORE: Asia's naphtha crack fell for a fourth straight day on Friday to remain at a two-month low of $51.13 a tonne on an unrelenting glut.Malaysia-based Titan has bought naphtha for second-half June delivery to Pasir Gudang and traders estimated the levels to be around $9 to $10 a tonne below Japan quotes on a cost-and-freight (C&F) basis.Titan had bought a first-half June naphtha cargo in late April at a discount of about $5.The deals ...

Markets - Energy - Asia

Asia-Pacific Crude- Malaysia sells June condensate cargoes SINGAPORE: The Asia-Pacific crude market held steady on Thursday as Malaysia sold June condensate cargoes at slightly higher premiums amid some tightness in supply, though the market was winding down and pressured by slumping margins, traders said.Malaysia's Petronas sold a cargo each of Muda and Cakerawala condensate for June at slightly higher premiums, said two traders that follow the regional market, an increase attributed to less condensate availability during the month."Condensate avails weren't that high ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha, gasoline stuck in glut rut SINGAPORE: Asia's naphtha crack hovered near a two-month low of $51.45 a tonne on Thursday while the gasoline crack was close to a two-week low of $7.61 a barrel due to a supply glut that showed no signs of retreating, traders said.Singapore's onshore light distillates stocks, made up mostly of gasoline and blendstock for gasoline, rose nearly 7 percent, or 994,000 barrels, to a two-month high of 15.533 million barrels in the week to May ...