05242016Tue
Last update: Tue, 24 May 2016 02pm

Asia

Markets - Energy - Asia

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Thursday following a bearish US energy report, while talks over crude producer Iran's nuclear programme dragged on, analysts said. US benchmark West Texas Intermediate for August delivery fell three cents to $60.24 while Brent gained 14 cents to $63.63 in mid-morning trade.Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at business consultancy EY, said oil prices were pressured by the US Department of Energy's weekly petroleum report. The report showed domestic crude output edged up to a record 9.6 million barrels a day in the week to June 19, and that crude stockpiles, though down 4.9 million barrels in the week, were still at a near-record 463 million barrels.Nothing in the data suggested that the US oil industry, as the country enters the summer holiday driving season, was cutting back in the face of low prices.Gupta said dealers are also expecting ...

Markets - Energy - Asia

Hong Kong stocks end 0.26pc up, Shanghai extends rebound HONG KONG: Equities in Hong Kong rose 0.26 percent Wednesday, a fourth straight gain, on hopes Greece will agree a debt reform deal with its creditors, while Shanghai extended the previous day's gains on improved liquidity.The benchmark Hang Seng Index added 71.51 points to 27,404.97 on turnover of HK$117.04 billion (US$15.10 billion).In mainland China the benchmark Shanghai Composite Index jumped 2.48 percent, or 113.66 points, to 4,690.15 on turnover of 815.1 billion yuan ($133.3 billion).The ...

Markets - Energy - Asia

Oil prices rise further in Asia SINGAPORE: Oil prices extended their gains in Asia Wednesday on expectations of a decline in US crude inventories and robust economic data from the eurozone, analysts said.US benchmark West Texas Intermediate for August delivery was up 12 cents at $61.13 a barrel and Brent climbed 11 cents to $64.56 in late-morning trade.Both contracts also ended higher on Tuesday as traders bet on a fall in stockpiles when the US Department of Energy releases its weekly ...

Markets - Energy - Asia

Oil prices down in Asia SINGAPORE: Oil prices fell in Asia Tuesday, with the possible return of Iranian crude to the global market stoking further concerns over a supply glut, analysts said.Iran and major western powers are racing to agree a deal by June 30 that would see Tehran open up its nuclear programme to allay concerns it is seeking atomic weapons, in return for the West lifting punishing economic sanctions.Any deal could result in Iranian crude returning to the ...

Markets - Energy - Asia

Japan JOGMEC buys 44,000 tonnes LPG for national reserves TOKYO: State-run Japan Oil, Gas and Metals National Corp (JOGMEC) on Monday bought liquefied petroleum gas (LPG) via a tender to store in its national reserves, a trade ministry official said on Monday.JOGMEC was seeking 44,000 tonnes of propane, which is to be delivered to the stockpiling base in Namikata in Ehime prefecture by Aug. 10.The ministry official did not identify the winning bidder.Japan, which in April stored 952,000 tonnes of LPG at five national ...

Markets - Energy - Asia

Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asia Wednesday as dealers awaited the latest US energy report and a Federal Reserve policy announcement later in the day that dealers hope will shed light on its plans for hiking interest rates, analysts said.US benchmark West Texas Intermediate for July delivery gained 10 cents to $60.07 while Brent crude for August added five cents to $63.75 in late-morning trade.Markets are hoping for some clues about the US central bank's ...

Markets - Energy - Asia

Oil prices rise as Texas braces for tropical storm SINGAPORE: Crude prices rose after a cautious start on Tuesday, boosted by warnings that a tropical storm was about to hit the coast of oil producing state Texas. The US National Hurricane Center (NHC) issued a tropical storm warning on Tuesday morning at 0200 GMT for the Texas coast from Baffin Bay to High Island."On the forecast track the centre ... is expected to make landfall in the warning area along the Texas coast Tuesday ...