09262016Mon
Last update: Mon, 26 Sep 2016 10am

Asia

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 selling price may have widened to 30-40 cents, while premiums for Murban may have dropped to 40-50 cents, a trader said.Still, Thailand's PTT did not award its sour crude tender due to a lack of demand from domestic refiner IRPC.Traders eyed an ESPO tender from Surgutneftegaz for price direction. The producer offered four ESPO cargoes for loading on Feb. 18-22, 21-25, 25-29 and Feb. 26-March 1 in a tender to close on Wednesday.Iraq has signed ...

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 ...

Markets - Energy - Asia

Oil prices edge up as northern hemisphere moves into peak winter demand SINGAPORE: Oil prices edged away from multi-year lows on Tuesday as the northern hemisphere moves into the peak-demand winter season, but mild weather and ballooning supplies mean that prices are expected to remain generally low well into 2016.The global crude benchmark Brent was at $36.46 per barrel at 0213 GMT. That was over $2 above the 11-year low hit on Monday, although traders said the price jump was more related to a roll-over in contracts ...

Markets - Energy - Asia

Azeri oil exports down 1pc in Jan-Nov yr/yr: customs BAKU: Azerbaijan's oil exports edged down by 1 percent in January-November compared with the same year-ago period, driven by a decline in oil production, a source at the State Customs Committee said on Monday.Azerbaijan exported 29.9 million tonnes of oil in the first eleven months of this year down from 30.2 million tonnes in the same period of 2014, the source who declined to be identified, told Reuters.Exports of oil via Russia through the Baku-Novorossiisk ...

Markets - Energy - Asia

Middle East Crude-Chinaoil's purchases support Dubai SINGAPORE: The Middle East crude oil benchmarks Dubai and Oman firmed on Monday after Chinaoil resumed purchases.The trading arm of PetroChina bought four Dubai partials from Unipec and Reliance at $31.40 a barrel, or $1.53 a barrel below Dubai swaps, up 30 cents from the previous session.DME Oman's differential to Dubai also rose by more than 20 cents from Friday.Spot Basra crude differentials remained in premiums on limited supply.Taiwanese refiner Formosa Petrochemicals bought 2 million ...