05252016Wed
Last update: Wed, 25 May 2016 08am

Asia

Markets - Energy - Asia

Oil prices edge up, but glut fears cap gains HONG KONG: Oil prices edged up Friday but gains were tempered by ongoing concerns about a global supply glut and a pick-up in the strength of the dollar.US benchmark West Texas Intermediate for August delivery rose five cents to $50.96 a barrel and Brent crude for September, a new contract, advanced 16 cents to $57.08. Crude investors continue to fret as the global economy struggles to get back up to speed, despite a strong pick-up in the United States, the world's biggest oil consumer.While fears over the Greek debt crisis abate, prices took a hit this week after crude-rich Iran and world powers agreed a historic deal to check the country's nuclear ambitions, which in turn eases crippling sanctions on its crucial oil exports.Expectations that Iranian crude would hit an already saturated market spooked dealers, although those worries subsided slightly on the realisation it would not arrive until next year."There ...

Markets - Energy - Asia

Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia Thursday after a sharp decline the day before as traders tried to get a handle on the full implications of Iran's landmark nuclear deal with major powers.US benchmark West Texas Intermediate for August delivery rose 35 cents to $51.76 a barrel in mid-afternoon trade after tumbling $1.63 in New York on Wednesday.Brent crude for August advanced 37 cents to $57.42. The contract, which expires Thursday, had fallen $1.65 the ...

Markets - Energy - Asia

Middle East Crude: Dubai, Oman weaken after Iran nuclear deal SINGAPORE: Dubai and Oman weakened for a second session in the Middle East crude market on Tuesday after world powers and Iran finally reached a nuclear agreement which could pave the way for more Iranian oil exports.Iran and the six powers have reached a deal that will grant Tehran sanctions relief in exchange for curbs on its nuclear programme, Iranian and Western diplomats said, although there were no immediate details on how sanctions would be ...

Markets - Energy - Asia

Oil falls further in Asia with Iran deal close SINGAPORE: Oil prices tumbled further in Asia Tuesday on signs of an imminent deal between Iran and Western powers that would allow Iranian crude to flow back into the already saturated global market.A strong US currency has also made the dollar-priced commodity more expensive, denting demand, analysts said.US benchmark West Texas Intermediate for August delivery fell 75 cents to $51.45 and Brent crude for August eased 60 cents to $57.25 in afternoon Asian trade."It seems ...

Markets - Energy - Asia

Middle East Crude: Sept Upper Zakum sells at premium; Basra supply cut SINGAPORE: Trade in September-loading Middle East crude cargoes kicked off with Upper Zakum trading at slightly higher premiums than the previous month, traders said on Monday.Exxon Mobil and ENOC sold one Upper Zakum cargo each at 30-40 cents a barrel above the grade's official selling price (OSP) to Chinaoil and PTT, they said. The deals could not be independently verified.Robust demand on the window supported Upper Zakum and will likely underpin values for medium and ...

Markets - Energy - Asia

Oil prices down in Asia as Iran deal looms SINGAPORE: Oil prices fell in Asia Monday as Iran and major western powers said they were closer than ever to a landmark nuclear deal that would lift sanctions and see Tehran's crude exports return to global markets.A forecast by the International Energy Agency (IEA) for slower world oil demand next year was also weighing on the market, analysts said.US benchmark West Texas Intermediate for August delivery was down 86 cents to $51.88 and Brent crude ...

Markets - Energy - Asia

Oil up in Asian trade as China shares recover SINGAPORE: Oil prices rose further in Asia Friday following recent sharp losses, lifted by a recovery in Chinese stocks as the government beefed up measures to support the market.The rebound, which followed a 30 percent plunge Chinese share prices, eased concerns of a wider fallout into the world's second biggest economy and top energy consumer, but analysts said it remained to be seen whether the rally it will be sustained.US benchmark West Texas Intermediate for ...