12042016Sun
Last update: Sun, 04 Dec 2016 09pm

Asia

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha, gasoline stuck in glut rut SINGAPORE: Asia's naphtha crack hovered near a two-month low of $51.45 a tonne on Thursday while the gasoline crack was close to a two-week low of $7.61 a barrel due to a supply glut that showed no signs of retreating, traders said.Singapore's onshore light distillates stocks, made up mostly of gasoline and blendstock for gasoline, rose nearly 7 percent, or 994,000 barrels, to a two-month high of 15.533 million barrels in the week to May 4, official data showed.That was just 5,000 barrels shy of the record high on March 2 this year.Taiwan, South Korea, India and Japan had shipped close to 260,000 tonnes of gasoline to Singapore while the Netherlands had shipped about 88,000 tonnes, its highest weekly volume this year to Singapore, following 70,000 tonnes a week earlier.TENDERS: Qatar's Tasweeq has offered up to 2.7 million tonnes of naphtha for July 2016 to June 2017 loading from Ras ...

Markets - Energy - Asia

Oil prices up as Canada wildfires threaten crude output SINGAPORE: Oil prices climbed in Asia Thursday with Brent breaching $45 a barrel as raging wildfires threatened to cut Canadian output and a decline in US crude production also boosted the commodity.Authorities say wildfires are burning out of control in the Alberta oil sands region of Canada, which mines and ships heavy crude south to the US market, and oil companies have reduced operations to facilitate the evacuation of non-essential employees.News of the Canada fires ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha lower; YNCC seeks term SINGAPORE: Asia's naphtha crack slipped on Wednesday to a nearly two-month low of $57.25 a tonne on ample supplies as refineries ran at high rates to cash in on low crude prices, traders said.The weak fundamentals drew South Korean buyer YNCC forward as it sought to lock in low naphtha prices through a 12-month purchase contract starting July.South Korea's Lotte Chemical, meantime, has bought at least 25,000 tonnes of naphtha at $5 a tonne below ...

Markets - Energy - Asia

Oil prices rebound in Asia but gains limited by glut fears SINGAPORE: Oil prices rebounded in Asia Tuesday but nagging worries about excess supplies kept them below 2016 highs after data showed Iran and Iraq increasing output.The commodity has rallied for four straight weeks thanks to a weaker dollar and hopes that the world economy is slowly turning positive.However, it fell on Monday after figures showed Iraqi exports hit a near-record 3.36 million barrels a day in April while Iran's production during the month reached 3.5 ...

Markets - Energy - Asia

Oil prices ease off in Asia after hitting new highs SINGAPORE: Oil prices eased slightly in Asia Friday after hitting a series of new highs this week, bolstered by a weak dollar.The US Federal Reserve held interest rates unchanged after its policy meeting on Wednesday, signalling it was in no hurry to raise rates. On Thursday, the dollar fell about 3.0 percent against the Japanese yen after the Bank of Japan disappointed markets by not offering additional stimulus measures for the struggling economy. At about ...

Markets - Energy - Asia

Vietnam's Jan-April crude oil exports drop 22.2pc y/y: govt HANOI: Vietnam's crude oil exports during January-April fell 22.2 percent from the same period last year to an estimated 2.49 million tonnes, or 151,000 barrels per day (bpd), the government said on Wednesday.Crude oil export revenues in the four-month period plunged 52.1 percent from a year ago to $678 million, the government's General Statistics Office said.Oil product imports rose 10.9 percent in the same period to an estimated 3.92 million tonnes, while the value dropped ...

Markets - Energy - Asia

Oil prices rise on weaker dollar ahead of Fed rate decision SINGAPORE: Oil prices extended gains in Asia Wednesday as traders await a report on US stockpiles, and some analysts said the market was set for a rebalancing after touching bottom.The two main contracts -- West Texas Intermediate (WTI) and Brent crude -- had risen sharply in European trading Tuesday on speculation that Saudi Arabia plans to reduce drilling, fuelling hopes of an easing of the global supply glut.A weak dollar has also provided support as ...