06292016Wed
Last update: Wed, 29 Jun 2016 06am

Asia

Markets - Energy - Asia

Oil prices bounce back on eve of OPEC meeting SINGAPORE: Oil prices bounced back in Asia Thursday but trading was cautious on signs the OPEC cartel is divided ahead of a meeting on whether to maintain or slash its high output levels.The US benchmark West Texas Intermediate closed below $40 a barrel for the first time since late August on Wednesday after data showed an increase in US commercial stockpiles and production, adding to anxiety about a long-running supply glut.Focus is now on the Organization of the Petroleum Exporting Countries meeting in Vienna Friday. Analysts say the 12 members appear to be divided, with Saudi Arabia and its Gulf partners at odds with others pushing for a cut in output in a bid to perk up prices.WTI for delivery in January was up 20 cents at $40.14 and Brent crude was trading 23 cents higher at $42.72 at around 0300 GMT.WTI fell 4.6 percent Wednesday while Brent sank 4.4 ...

Markets - Energy - Asia

Oil prices down in Asia ahead of OPEC policy meeting SINGAPORE: Oil prices fell in Asia Wednesday as the Organization of the Petroleum Exporting Countries (OPEC) prepared for a policy meeting in Vienna amid expectations the cartel will keep high output levels.US benchmark West Texas Intermediate for delivery in January was down 20 cents at $41.65 and Brent crude for January was trading 14 cents lower at $44.30 a barrel at around 0430 GMT.Traders will be closely tuned in to Friday's OPEC gathering for any ...

Markets - Energy - Asia

Oil prices rise in Asia with OPEC meeting in focus SINGAPORE: Oil prices rose in Asia Tuesday, three days before an OPEC meeting in which the cartel is expected to maintain high output levels despite a global supply glut.Analysts say the Organization of the Petroleum Exporting Countries is likely to focus more on maintaining market share against competitors than on slashing production in order to lift prices.US benchmark West Texas Intermediate for delivery in January was up 29 cents to $41.94 and Brent crude for ...

Markets - Energy - Asia

Japan's JX sees Marifu refinery turnaround in Jan-March TOKYO: Japan's biggest oil refiner, JX Nippon Oil & Energy Corp, said on Friday it would conduct scheduled maintenance on the 127,000-barrel-per-day (bpd) No.4 crude distillation unit (CDU) at its Marifu refinery in western Japan from Jan. 24 to March 11.Copyright Reuters, 2015 ...

Markets - Energy - Asia

Oil prices hold above $43 in Asia SINGAPORE: Oil prices held above $43 a barrel in Asia Thursday after US commercial crude supplies rose at a slower pace, while jitters lingered over the shooting down by Turkey of a Russian warplane.Data from the US Department of Energy released Wednesday showed the country's commercial crude supplies rose by 1.0 million barrels for the week ending November 20.The increase for a ninth straight week kept supplies more than 100 million barrels above the five-year ...

Markets - Energy - Asia

Middle East Crude-December Basra Heavy trades in premium SINGAPORE: The Middle East crude market held steady on Thursday with trade for January cargoes mostly done at higher differentials than the previous month amid strong refinery demand.Iraq's Basra Heavy was traded at a premium, as the grade's official selling price (OSP) was considered attractive despite State Oil Marketing Organization (SOMO) raising it by 50 cents a barrel this month.An Indian and a South Korean refiner bought a cargo each of December-loading Basra Heavy at ...

Markets - Energy - Asia

Asia-Pacific Crude-Condensate strengthens further SINGAPORE: The Asia-Pacific crude market was supported by strong refinery demand on Thursday, while arbitrage supply was curbed by Brent's widening premium to Dubai swaps.Complex refining margins in the Singapore complex averaged above $9 a barrel in the past week, up from an average below $7 a barrel last month.A widening gap between Brent and Dubai swaps, which reached a 16-month high of $2.95 a barrel on Thursday, also made it less attractive for Asian ...