07262016Tue
Last update: Tue, 26 Jul 2016 03am

Asia

Markets - Energy - Asia

Asia Fuel Oil-Asian fuel oil edges up in slow trade SINGAPORE: Fuel oil markets in Singapore remained relatively quiet as 180-cst fuel oil prices edged up while the more actively traded 380-cst fuel oil saw slightly stronger gains.Differentials similarly crept higher for 180-cst fuel oil while 380-cst fuel oil showed a notable rise."The market is slow," said one Singapore-based trader. "Most market players don't believe crude has bottomed out yet."In fundamentals, crude oil edged up slightly amid bearish markets weighed down by persisting global oversupply.Despite an expected fall in US production next year, BMI Research said on Thursday that global output was forecast to rise by 500,000 barrels per day in 2016.Internationally traded Brent futures were at $40.17 per barrel, up 6 cents. US crude futures were at $37.04 per barrel at 1136 GMT, down 12 cents from their last settlement, but still not far off this week's seven-year lows below $37 per barrel. Prices are down over 11 percent ...

Markets - Energy - Asia

Oil prices up in Asian trade SINGAPORE: Oil prices edged up in Asia Thursday following signs of a slight improvement in US demand but concerns that an oversupply will persist past next year kept the the commodity struggling at multi-year lows.Analysts said a sharp fall in the dollar on Wednesday may also have spurred some buying as weakness in the US currency makes dollar-priced oil cheaper.But analysts also noted that the unit will likely to gather strength before a Fed meeting ...

Markets - Energy - Asia

US crude prices edge up on dip in crude inventories, but glut still bites SINGAPORE: US crude oil prices edged up in early Asian trading on Thursday, supported by a fall in crude inventories after 10 straight weeks of builds, but oversupply and cheap oil are still dominating the broader market.Crude inventories fell 3.6 million barrels in the week to Dec. 4, compared with analysts' expectations for an increase of 252,000 barrels, U.S. Energy Information Administration (EIA) data showed.This, along with signs of dipping U.S. production, lent prices some ...

Markets - Energy - Asia

Asia-Pacific Crude: Brent's premium to Dubai rises above $4 a barrel SINGAPORE: Brent crude's widening premium to Dubai swaps could put pressure on the Asia-Pacific crude market, though a reduced number of cargoes arriving from the Atlantic basin is likely to help to balance the market. Brent's premium to Dubai crude rose above $4 a barrel on Wednesday for the first time since July 2014, Reuters data showed. A wider spread makes Middle East grades more attractive than regional grades priced on Brent but also caps ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Gasoline crack rises; outlook robust SINGAPORE: Asia's naphtha crack rose to around $126 a tonne on Wednesday, supported by robust demand from the petrochemical industry and for blending into gasoline.The gasoline crack also increased to around $11.20 a barrel, near its highest since mid-October as low oil prices boosted demand for the transportation fuel.Benchmark Brent crude futures have fallen by around 8 percent since Friday, when OPEC failed to agree a ceiling on production, increasing the likelihood of a more ...

Markets - Energy - Asia

Turkey limits gas usage at some plants in precaution ahead of winter ANKARA: Turkish pipeline company Botas has cut gas usage to 50 percent of capacity at some power stations in a precautionary measure to boost stocks ahead of an expected winter rise in demand, an energy official told Reuters on Wednesday.He said gas flows from Iran to Turkey fell temporarily on Tuesday for technical reasons and there is currently no problem in gas flows to Turkey. Copyright Reuters, 2015 ...

Markets - Energy - Asia

Oil prices up but stay near multi-year lows SINGAPORE: Oil prices crept higher in Asia Wednesday but remained near multi-year lows ahead of a report on US crude inventories in a market weighed down by oversupply.Analysts expect another build-up in US commercial crude stockpiles in the week ending December 4 when the data is released later in the day, adding to the supply glut.A decision by the OPEC oil producers group during their meeting last week not to slash output levels continues to ...