08302016Tue
Last update: Tue, 30 Aug 2016 06am

Asia

Markets - Energy - Asia

Oil prices down in Asia SINGAPORE: Oil prices fell in Asia on Monday, giving up some of last week's sharp gains as concerns of a global supply glut weighed on prices ahead of fresh US stocks data. US benchmark West Texas Intermediate (WTI) for delivery in February was down 27 cents at $37.83 and Brent crude for February was trading 17 cents lower at $37.72 a barrel at around 0320 GMT.Prices jumped last week after data showed an unexpected fall in US commercial crude stockpiles, with WTI adding almost 10 percent.News the US will resume exports after a 40-year ban also helped to drive the country's benchmark to a premium over London-traded Brent, which is seen as a measure of global prices."With no major economic news during the week, which will be a short trading week due to holidays, the markets will be looking closely for EIA's weekly US crude oil inventory data," said Sanjeev ...

Markets - Energy - Asia

Vietnam 2015 crude oil export volume eases 0.6pc HANOI: Vietnam's crude oil exports this year dipped an estimated 0.6 percent from a year ago to 9.25 million tonnes, or 186,000 barrels per day, the government said on Saturday. Crude oil export revenue for the full year plunged 47.3 percent to $3.81 billion, the General Statistics Office said.Oil product imports rose 18.7 percent to an estimated 10 million tonnes, with the value falling 29 percent to $5.34 billion, the office said in its monthly ...

Markets - Energy - Asia

US crude pips into premium over Brent as exports loom though price outlook remains bleak SINGAPORE: US crude prices briefly rose to a premium over internationally traded Brent on Wednesday following a report of a surprise dip in US inventories and the potential for more exports in an oil market which still suffers from ballooning oversupply.Front-month U.S. West Texas Intermediate (WTI) crude futures were trading at $36.47 per barrel at 0744 GMT, up 33 cents from their last settlement.Brent crude earlier traded as low as $36.28 a barrel, flipping WTI ...

Markets - Energy - Asia

Middle East Crude-Dubai strengthens on strong bid SINGAPORE: The Middle East crude benchmark Dubai strengthened on Wednesday on a strong bid from Gunvor even though no partials were traded during the window.Cash Dubai's discount narrowed by about 10 cents from the previous day to about $1.35 a barrel, the strongest since August.Differentials for remaining February-loading cargoes, including Qatar Marine and light sour grades such as Murban and Das, weakened as most Asian refiners have completed their purchases.Qatar Marine's discount to its official ...

Markets - Energy - Asia

Indonesia sees 2015 coal output down 16pc JAKARTA: Indonesia's coal production is expected to reach 383 million tonnes in 2015, 10 percent below an earlier output target of 425 million tonnes and 16 percent below 2014 output, a mining ministry official said on Wednesday, amid depressed prices and weak demand for the fuel.Exports for the year were expected to reach 303 million tonnes while 80 million tonnes would be consumed domestically, Adhi Wibowo, director of coal at the Energy and Mineral Resources ...

Markets - Energy - Asia

Oil rises, WTI and Brent at parity ahead of US supply report SINGAPORE: Oil prices rose in Asian trading hours Wednesday after the US benchmark WTI overtook its European counterpart Brent in reaction to the lifting of a 40-year US crude exports ban.But Brent regained lost ground and analysts said an imminent report by the Department of Energy on US oil inventories could reverse recent gains ahead of the long Christmas Day weekend. At 0300 GMT, the two standards stood roughly at parity.West Texas Intermediate for February ...

Markets - Energy - Asia

Middle East Crude-Dubai gains on demand from Chinaoil, Gunvor  SINGAPORE: The Middle East crude benchmark Dubai gained on Tuesday on firm demand from Chinaoil and Gunvor.Dubai's discount to swaps narrowed about 10 cents after Chinaoil bought two Dubai partials from Unipec during the Platts MoC process, leading to the convergence of an Oman cargo. This is the fourth cargo Chinaoil bought this month.Gunvor also purchased a partial from Unipec.Russian crude premiums were steady to higher, buoyed by robust demand from North Asian refiners as ...