09262016Mon
Last update: Mon, 26 Sep 2016 08am

Asia

Markets - Energy - Asia

Saudi Arabia to raise October crude prices to Asia SINGAPORE: Top oil exporter Saudi Arabia is expected to raise prices for crude it sells to Asia in October, tracking the strength in the Middle East price benchmark Dubai and a recovery in Asia's refining margins.The official selling price (OSP) of Saudi crude, released around the fifth of each month, sets the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of oil bound for Asia.For October, Saudi Aramco could raise the OSP for flagship Arab Light by 50 cents to $1 a barrel, a Reuters survey of six refiners and traders showed.This tracks a 52-cent gain in the contango spread between first and third month Dubai prices in August from July, traders said. Prompt prices are lower than those in future months in a contango market.The price spread between Oman and Dubai markers has also narrowed in August, which, together with a ...

Markets - Energy - Asia

Asia's July Iran oil imports rise 61pc from a year ago TOKYO: Imports of Iranian oil by four major buyers in Asia in July jumped 61.1 percent from a year earlier, marking the biggest percentage gain since April 2014, reflecting Tehran's aggressive moves to recoup market share, lost under international sanctions.Iran is regaining market share at a faster pace than analysts had projected since sanctions were lifted in January, and Iran's senior government official said it sees its oil production at 4 million barrels per day ...

Markets - Energy - Asia

Oil dips on stronger dollar, rise in US crude inventories SINGAPORE: Crude oil futures dipped on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories.International Brent crude oil futures were trading at $48.30 per barrel at 0652 GMT, down 7 cents from their previous close.U.S. West Texas Intermediate (WTI) crude futures were down 7 cents at $46.28 a barrel.The U.S. dollar index, which measures the currency against a basket of six majors, rose as ...

Markets - Energy - Asia

Oil prices fall on rising Iraq output, doubt over producer talks SINGAPORE: Oil prices fell about 1 percent on Monday as Iraq's production rose and as Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognised its right to fully regain market share.International Brent crude oil futures were trading at $49.32 per barrel at 0558 GMT, down 60 cents, or 1.2 percent, from their previous close.U.S. West Texas Intermediate (WTI) crude futures were down 66 cents, or 1.39 percent, at ...

Markets - Energy - Asia

Oil prices sink in Asia on strong dollar, output fears SINGAPORE: Oil prices tumbled in Asia Monday on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month.Iranian oil minister Bijan Zanganeh on Friday said his country wanted its share of the crude market to return to levels seen before Western nuclear sanctions were imposed on it 13 years ago.The comments suggest Tehran might not join possible efforts by OPEC and Russia to cap production at ...

Markets - Energy - Asia

VTTI says it resumes operations at Malaysia terminal SINGAPORE: VTTI, the storage unit of world's largest oil trader Vitol, said late on Friday it has resumed operations at its Malaysia terminal ATT Tanjung Bin (ATB). "The suspension has been lifted. ATB will resume its operations as normal, with immediate effect," a company spokeswoman said in an e-mail.The terminal suspended operations earlier on Friday after receiving a notice from the authorities following an oil spill.ATB located at Tanjong Pelepas in Johor has a total ...

Markets - Energy - Asia

Vietnam's Jan-Aug crude oil exports fall 25.7pc y/y HANOI: Vietnam's crude oil exports in the first eight months of 2016 fell 25.7 percent from a year ago to an estimated 4.65 million tonnes, or 140,000 barrels per day (bpd), the government said on Friday.Crude oil export revenues in the January-August period plunged 46.2 percent from the same period last year to $1.47 billion, the government's General Statistics Office said in its monthly report.Oil product imports jumped 22.9 percent in the same period to ...