12112016Sun
Last update: Sun, 11 Dec 2016 02pm

Asia

Markets - Energy - Asia

Asia Fuel Oil-180-cst complex strengthens on ample high-vis supplies SINGAPORE: Asia's benchmark 180-cst fuel oil complex strengthened on Friday after a wave of high viscosity fuel oil arriving in Singapore stoked concerns of cutter stock availability, industry sources said."There's lots of high-vis fuel around which needs to be blended," said a Singapore-based fuel oil trader adding that cutter stocks, including the 180-cst fuel oil, were in relatively narrow supplies.The December visco-spread rose 50 cents a tonne on Friday to $8.50 a tonne. The front month visco spread was last as high on Nov. 1 when initial concerns of tight cutter supplies sent it to 15-month high.The backwardated structure of the 180-cst fuel also widened on Friday as the Dec/Nov time spreads for the benchmark fuel rose 75 cents to 3.75 a tonne above Singapore quotes. The last time the front month time spread of the lower viscosity fuel were as high was in the midst of the so-called June ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Crack spreads widen on firm demand SINGAPORE: Asia's gasoline crack spread hit a two-week high of $9.63 a barrel while naphtha ended the week at a five-session high of $82.83 a tonne, supported by firm demand and low levels of incoming European cargoes.China's Unipec has resumed issuing supply tenders for spot cargoes after a brief absence, traders said, and may have bought a cargo for December delivery after a few attempts but this could not immediately be confirmed.China turned a net ...

Markets - Energy - Asia

Asia Fuel Oil-380-cst complex firms as market shrugs off rising inventories SINGAPORE: Asia's physical and swaps fuel oil markets shrugged off a sharp build in Singapore's onshore inventories of the industrial fuel amid continued concerns about prompt availability of on-specification cargoes and bunker fuels, industry sources said.Onshore inventories of Singapore fuel oil jumped 15 percent in the week to Nov. 16 following five consecutive weeks of declines.Last week's 3.182 million barrel, or 475,000 tonne, inventory build represents the largest weekly volume change since the week of ...

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 ...

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 ...