09282016Wed
Last update: Wed, 28 Sep 2016 08am

Asia

Markets - Energy - Asia

Oil dips on stronger dollar, rise in US crude inventories SINGAPORE: Crude oil futures dipped on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories.International Brent crude oil futures were trading at $48.30 per barrel at 0652 GMT, down 7 cents from their previous close.U.S. West Texas Intermediate (WTI) crude futures were down 7 cents at $46.28 a barrel.The U.S. dollar index, which measures the currency against a basket of six majors, rose as high as 96.143, its highest level since Aug. 9, on Tuesday.A stronger greenback makes dollar-priced commodities like oil more expensive for holders of other currencies and possibly capping demand.The dollar strengthened after recent hawkish comments by Fed Chair Janet Yellen and Vice Chair Stanley Fischer boosted expectations that a rate hike by the U.S. central bank at its September policy meeting could be on the horizon."The pullback in commodity prices is likely to continue in ...

Markets - Energy - Asia

Oil prices fall on rising Iraq output, doubt over producer talks SINGAPORE: Oil prices fell about 1 percent on Monday as Iraq's production rose and as Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognised its right to fully regain market share.International Brent crude oil futures were trading at $49.32 per barrel at 0558 GMT, down 60 cents, or 1.2 percent, from their previous close.U.S. West Texas Intermediate (WTI) crude futures were down 66 cents, or 1.39 percent, at ...

Markets - Energy - Asia

Oil prices sink in Asia on strong dollar, output fears SINGAPORE: Oil prices tumbled in Asia Monday on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month.Iranian oil minister Bijan Zanganeh on Friday said his country wanted its share of the crude market to return to levels seen before Western nuclear sanctions were imposed on it 13 years ago.The comments suggest Tehran might not join possible efforts by OPEC and Russia to cap production at ...

Markets - Energy - Asia

VTTI says it resumes operations at Malaysia terminal SINGAPORE: VTTI, the storage unit of world's largest oil trader Vitol, said late on Friday it has resumed operations at its Malaysia terminal ATT Tanjung Bin (ATB). "The suspension has been lifted. ATB will resume its operations as normal, with immediate effect," a company spokeswoman said in an e-mail.The terminal suspended operations earlier on Friday after receiving a notice from the authorities following an oil spill.ATB located at Tanjong Pelepas in Johor has a total ...

Markets - Energy - Asia

Vietnam's Jan-Aug crude oil exports fall 25.7pc y/y HANOI: Vietnam's crude oil exports in the first eight months of 2016 fell 25.7 percent from a year ago to an estimated 4.65 million tonnes, or 140,000 barrels per day (bpd), the government said on Friday.Crude oil export revenues in the January-August period plunged 46.2 percent from the same period last year to $1.47 billion, the government's General Statistics Office said in its monthly report.Oil product imports jumped 22.9 percent in the same period to ...

Markets - Energy - Asia

Oil prices extend losses as dealers eye output talks SINGAPORE: Oil prices edged down again in Asian trade Thursday, a day after suffering hefty losses in response to data showing a surprise jump in US stockpiles, while hopes for a deal to limit output were dealt a blow.The US energy department said Wednesday that inventories soared 2.5 million barrels last week, confounding forecasts for a fall and fanning worries about a global supply glut.Both main contracts plunged on the news, with West Texas Intermediate ...

Markets - Energy - Asia

Oil prices down in Asia, Brent stays below $50 SINGAPORE: Oil fell in Asia on Wednesday after industry data showing an increase in US crude stocks added to oversupply worries and traders took advantage of a recent rally to book profits.Prices had closed higher Tuesday on news that Iran was willing to join calls by OPEC and Russia for production curbs after scuttling previous efforts to reach a deal in April.But the gains were reversed in Asian trade after data from the American Petroleum ...