12042016Sun
Last update: Sun, 04 Dec 2016 01pm

Asia

Markets - Energy - Asia

Asia-Pacific Crude-Weak, eyes China demand  SINGAPORE: The Asia-Pacific crude market remained weak on Tuesday with Malaysian and Australian grades yet to move for June.A drop in demand from Chinese teapot refineries, and a potential release of oil from storage after Brent's contango narrowed, have depressed regional grades.Still, China raised retail fuel prices on Tuesday which may lift its demand for crude again.Traders looked to Petroleum Brunei's monthly Kimanis crude tender for price direction although a rise in supply in June may weigh on its premium.More details emerged for PV Oil's Chim Sao tender. The first cargo bought by BP fetched a premium of about $1.50 a barrel above dated Brent while the other two cargoes were sold at lower premiums of about $1 a barrel, traders said.PV Oil has sold June-loading Bach Ho to a trader at parity to a small premium, a trader said, although this could not be independently verified. This was down ...

Markets - Energy - Asia

Thailand's PTT signs LNG cooperation deal with Korea Gas BANGKOK: Thailand's largest energy firm PTT Pcl said on Tuesday it has signed an agreement with South Korea's Korea Gas Corp to cooperate in their liquefied natural gas (LNG) business. The cooperation will include seeking investment opportunity in LNG supply chain and securing LNG supply, Noppadol Pinsupa, senior executive vice-president for PTT's gas business unit, told reporters.Korea Gas and PTT are among top LNG buyers in Asia.State-controlled PTT has considered to buy LNG from spot ...

Markets - Energy - Asia

Oil prices fall after news of possible Saudi oilfield expansion SINGAPORE: Crude prices fell in Asia Monday following a report saying Saudi Arabia could maintain its total production capacity with the expansion of an oilfield, fuelling fresh concerns about the global supply glut.The losses come after a week of strong gains in the commodity that came on the back of hopes for the outlook of China's economy and speculation about the resumption of talks on limiting output.Saudi Arabian Oil Co. will complete an expansion of ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha recovers; ADNOC offers term SINGAPORE: Asia's naphtha crack recovered from a five-week low to reach a three-session high of $70.95 a tonne on Friday, with demand from South Korea seen.YNCC bought a naphtha cargo for second-half May delivery to Yeosu at a discount of $1 a tonne to Japan quotes on a cost-and-freight (C&F) basis.Ample supplies remained a concern and kept prices for the May cargo at a discount, traders said.On term talks, Abu Dhabi National Oil Company (ADNOC) ...

Markets - Energy - Asia

Asia-Pacific Crude-June Thang Long premium down from May  SINGAPORE: Asia-Pacific crude stayed under pressure on Thursday as strong Brent prices depressed spot differentials for June-loading cargoes, traders said.Brent's premium to Dubai swaps, or Brent-Dubai Exchange of Futures for Swaps (EFS), hovered near their highest in more than three months.Vietnamese crude kicked off June trade weaker after PV Oil awarded a cargo of Thang Long to Unipec at parity to 50 cents a barrel above dated Brent, down from a premium of about $1 ...

Markets - Energy - Asia

Brent oil may retest resistance at $46.06 SINGAPORE: Brent oil may retest a resistance at $46.06 per barrel, a break above which could lead to a gain to the next resistance at $46.98.These resistances are identified respectively as the 176.4 percent and the 186.4 percent Fibonacci projection levels of an upward wave 3, the third wave of a five-wave cycle from the Jan. 20 low of $27.10.The projection analysis indicates this wave could eventually extend into the range of $51.72-$53.87, formed by ...

Markets - Energy - Asia

South Korea's S-Oil says refining margins to stay healthy in Q2 SEOUL: South Korea's S-Oil Corp said on Thursday it expects refining margins to stay solid in the April to June quarter, as low oil prices will offset much of the impact from seasonally weak demand in Asia. S-Oil, whose main shareholder is Saudi Aramco, the kingdom's state oil giant, said its first quarter operating income jumped 106 percent to 491 billion won ($432 million) from a year ago, helped by strong margins and maximized production ...