01252017Wed
Last update: Wed, 25 Jan 2017 04am

Asia

Markets - Energy - Asia

Asia-Pacific Crude-ESPO holds steady ahead of more tenders  SINGAPORE: Russian ESPO crude held steady on Tuesday as traders eyed more tender awards to gauge the price outlook for the grade.Last week, producers sold several July-loading cargoes at a wide range of premiums from $2 to $3.30 a barrel to Dubai quotes. Cargoes loading earlier in the month fetched lower premiums than those due to be lifted in the last week of July.Still, a jump in July supplies from June may cap premiums for the rest of the cargoes, especially as demand from Chinese independent refiners remained lacklustre, traders said.Gazprom and Tenergy have closed tenders to sell cargoes loading on July 16-19 and July 28-Aug. 1, respectively. Surgutneftegaz will close this evening a tender to sell four cargoes.More details have emerged about Surgut's previous tender. It sold a cargo loading on July 8-12 at a premium of about $2, lower than the $2.30-$2.40 a barrel talked earlier.More regional crude ...

Markets - Energy - Asia

US oil prices up as traders await China data, OPEC meeting SINGAPORE: US crude rose in Asia Tuesday as investors awaited manufacturing data from China and before an OPEC meeting on production caps this week.Dealers expect Chinese manufacturing data due on Wednesday to set the tone at mid-week, with volumes thin after US and UK financial markets closed for a public holiday.China is the world's largest energy consumer so any indication of how its economy is performing acts as a key driver for oil prices."If the ...

Markets - Energy - Asia

US oil rises, global crude weaker on strong Middle East output SINGAPORE: US oil prices rose on Tuesday, buoyed by the start of the U.S. summer driving season, while international fuel markets fell on on rising output in the Middle East, which mostly serves Asian customers.U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.58 per barrel at 0707 GMT, up 25 cents from their last settlement. Brent crude oil futures were down 18 cents to $49.58 a barrel.Demand in North America is set ...

Markets - Energy - Asia

Japan crude imports from Iran fall 72pc in April TOKYO: Japan's crude oil imports from Iran in April slumped 72 percent from a year earlier to 19,161 barrels per day (91,392 kilolitres), data from the Ministry of Economy, Trade and Industry showed on Tuesday. The fall came after Japanese buyers held back from loading Iranian oil in March, worried they would not be able to rely on government-backed insurance for voyages to Japan. Copyright Reuters, 2016 ...

Markets - Energy - Asia

Divided OPEC to breathe easier with return of $50 oil VIENNA: A recovery in the oil price to around $50 has eased pressure on OPEC to turn down the taps when it gathers in Vienna on Thursday for its first meeting with the powerful Saudi crown prince's new oil minister."The general consensus is that there will be no agreement to establish quotas or lower production," said James Williams at WTRG Economics. "The most restrictive outcome might be an agreement to a production ceiling."Historically the Organization ...

Markets - Energy - Asia

Asia Distillates-Gasoil cash premium up on dry season demand SINGAPORE: Asia's benchmark 500ppm gasoil cash premium to Singapore quotes rose 6 cents to 25 cents a barrel, the highest since May 16 and driven higher by pockets of dry season demand, traders said on Monday.Vietnam had previously bought 140,000 tonnes of gasoil for May delivery, similar to April purchases but double that of March, they said.Demand for diesel has also been strong in India and Pakistan recently."... a large portion of Asia has required ...

Markets - Energy - Asia

Asia-Pacific Crude-July ESPO supplies to rebound  SINGAPORE: Spot premiums for July-loading Russian ESPO crude held steady on Monday, capped by a rebound in exports similar to an all-time high seen in May.Russia plans to export 28 cargoes, or about 2.8 million tonnes, from the Pacific port of Kozmino in July, trade sources said, after pipeline maintenance cut exports in the previous month.Surgutneftegaz sold on Friday a cargo loading on July 8-12 at $2.30-$2.40 a barrel above Dubai quotes and a July ...