Asia
Tuesday, 23 April 2013 10:36
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SINGAPORE: Brent crude fell below $100 a barrel on Tuesday after manufacturing data from China pointed to a lukewarm recovery in the second quarter, denting the outlook for fuel demand in the world's second largest oil consumer.The flash HSBC Purchasing Managers' Index for April fell to 50.5 in April from 51.6 the month before as new export orders shrank in China, suggesting the country faces considerable headwinds.June Brent crude dropped 65 cents to $99.74 a barrel by 0502 GMT, while US crude for June delivery was down 61 cents at $88.58 a barrel."It's disappointing data from the previous month, but it's still above 50," said Tetsu Emori, a commodities sales manager at Astmax Investments in Tokyo. "I'm happy to buy on dips."The PMI's 50-point level demarcates growth from contraction from the month before. The data comes after the unveiling of lower-than-expected GDP growth for China in the first quarter sparked ...
NEW DELHI: India's thermal coal production rose 3.3 percent to 508.32 million tonnes in 2012/13, while coking coal output declined 4.5 percent to 49.35 million tonnes, provisional figures obtained from a government source showed on Monday.Production of coal, which fuels more than half of India's power generation, nudged up 0.2 percent in March from a year earlier to 54.24 million tonnes, the figures obtained by Reuters showed.Despite being the world's third-largest coal producer, India's imports ...
HONG KONG: Asian markets mostly climbed on Monday, with Tokyo surging as the dollar pushes back towards the 100 yen mark after the G20 cautiously endorsed the Bank of Japan's huge stimulus measures.Chinese shares dipped, however, as insurers suffered a sell-off after an earthquake struck Sichuan province, leaving more than 200 dead or missing and destroying villages.Tokyo jumped 1.89 percent, or 251.89 points, to 13,568.37, while Seoul was up 1.03 percent, or 19.56 points, at ...
SINGAPORE: Oil prices rose in Asian trade Monday as bargain-hunters moved in following a price plunge last week as investors waited for fresh economic data from China, analysts said. New York's main contract, light sweet crude for delivery in May, added 50 cents to $88.51 a barrel in the afternoon and Brent North Sea crude for June delivery gained 44 cents to $100.09."We're seeing a bit of bargain hunting that is keeping prices up," Ric ...
SINGAPORE: Brent crude hovered around $100 a barrel on Monday, finding some support from bargain hunters after three straight weeks of lower prices on worries about the world economy and the impact on fuel demand.Brent has lost 10 percent since the start of April as growth in the United States and China -- the world's two largest oil consumers -- slowed, while recession in Europe deepened.Expectations of weaker demand growth have also hit other commodities, ...
CHENNAI: Qatar International Petroleum Marketing Co, or Tasweeq, sold two grades of condensate for June loading at sharply weaker differentials compared with the previous month's cargoes, industry sources said on Friday.The producer sold deodorised field condensate (DFC) at a premium of 0-20 cents per barrel to Dubai quotes, down from $0.80-$1.00 per barrel premium at which it sold May cargoes.It sold low sulphur condensate (LSC) at 60-80 cents per barrel discount to Dubai, sources said, ...
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