09262016Mon
Last update: Mon, 26 Sep 2016 12pm

Asia

Markets - Energy - Asia

Oil prices fall as oversupply worries return SINGAPORE: Oil fell in Asia on Thursday, ending a brief rally stoked by news US gasoline inventories fell after OPEC kingpin Saudi Arabia shot down hopes for an output cut.Prices rose the previous day as traders looked past an increase in US commercial crude inventories to a record high to a fall in stocks of refined products like gasoline.But worries about brimming supplies quickly returned to the fore as hopes the world's top producers had sealed a deal to limit their output were swiftly dashed."OPEC is not going to be able to do anything, that's the reality of it," said Michael McCarthy, chief market strategist at CMC Markets Australia."It has no capacity to coordinate the actions of its members so any oil bulls that are relying on OPEC to come to the table are going to be very disappointed."At around 0415 GMT, the US benchmark West Texas Intermediate (WTI) for ...

Markets - Energy - Asia

Oil prices fall as OPEC squabbles over output targets, crude stocks swell SINGAPORE: Oil prices slid on Wednesday, extending sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in U.S. crude stockpiles.Meanwhile, Iran made clear it has no interest in restraining production after sanctions against it were lifted, calling a proposal for exporters to freeze output "laughable".U.S. crude futures were trading at $31.25 per barrel at 0758 GMT, down 1.95 percent from their last ...

Markets - Energy - Asia

Asia-Pacific Crude-Weaker Chinese appetite weighs on Vietnam spot values SINGAPORE: Spot values for Vietnam's Chim Sao weakened in the Asia-Pacific crude market, weighed by a seasonal lull in demand and easing appetite of independent Chinese refiners.PV Oil sold three cargoes of Chim Sao loading in April at around $2.50 a barrel above dated Brent, down some 50 cents from the previous month when two cargoes were offered, traders said.Shell, Unipec and Taiyo Oil bought a cargo each, they said. The marketing arm of Petrovietnam ...

Markets - Energy - Asia

Middle East Crude-Shell's purchases underpin Dubai  SINGAPORE: Middle East crude benchmarks were mixed on Wednesday, with Shell's purchases underpinning Dubai while Oman weakened for a third session.Cash Dubai's discount to swaps narrowed about 10 cents after Shell bought two April partials from Reliance at $28.80 a barrel, traders said.Spot trade remained thin as traders await tender results from CPC. Russian ESPO crude was expected to resume trading after Russia returned from a two-day holiday on Wednesday.*DME OMANDME Oman for April settled ...

Markets - Energy - Asia

Oil prices extend losses in Asia SINGAPORE: Oil prices fell further in Asia Wednesday after OPEC kingpin Saudi Arabia shut the door on an output cut to ease the global crude supply glut, touting only a freeze in production.Traders were cautious ahead of the release later Wednesday of data on US commercial crude stockpiles which have been rising for weeks, indicating softer demand in the world's top energy consumer.By 0315 GMT, US benchmark West Texas Intermediate (WTI) for delivery in April ...

Markets - Energy - Asia

Crude prices down as doubts over production freeze linger SINGAPORE: Oil prices dipped in Asia on Tuesday after mounting a strong rally the day before as traders remain doubtful that talks on an output freeze among key crude producers will lead to an agreement.US crude rose back above $30 a barrel and European benchmark Brent climbed well over $34 on Monday on hopes that the discussions would lead to concrete action to stabilise the battered market.But at around 0300 GMT on Tuesday, US benchmark ...

Markets - Energy - Asia

China's Jan Russian crude oil imports fall back from record BEIJING: China's crude oil imports from Russia fell 30 percent in January from a record in December, customs data showed, as independent refineries rested after a rush to buy at the end of last year.Imports from the world's top exporter Saudi Arabia, however, dropped mildly, by around 5 percent, to 996,900 barrels per day (bpd) in January versus December, data from the General Administration of Chinese Customs showed.China's newly emerged crude importers, the independent refineries ...