06282016Tue
Last update: Tue, 28 Jun 2016 09pm

Asia

Markets - Energy - Asia

Oil prices up in Asian trade SINGAPORE: Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery gained 86 cents to $39.46 while Brent crude for October rose $1.07 to $44.21 in late-morning trade.The US Department of Energy said Wednesday US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating healthy demand.However, US crude production slipped a scant 11,000 barrels a day in the same period, keeping output above 9.3 million barrels and not far from a decades-high production level. In another bearish indicator, gasoline supplies increased by 1.7 million barrels, adding to concerns of a global glut of energy supplies.Despite the gains in Asian trading, Singapore's United Overseas Bank said the mixed report compounded "negative sentiment after worldwide falls in equities that helped drag ...

Markets - Energy - Asia

Oil rebounds after sharp losses, but China worries weigh SINGAPORE: Crude oil markets recovered more than a percent on Tuesday after a sharp drop in the prior session, although prices held near 6-1/2-year lows as continued weakness in Chinese equities triggered fears of an economic tailspin in the region.While global markets showed signs of a respite from the recent blood-letting, Chinese shares lost another 5 percent with investors fearing a hard landing of the world's second-biggest economy and top commodity consumer."The recent turmoil has ...

Markets - Energy - Asia

China's July Iran crude oil imports up 3pc BEIJING: China's July crude oil imports from Iran rose 3.0 percent from a year earlier to 2.44 million tonnes, or 575,700 barrels per day (bpd), customs data showed on Friday.On a daily basis, July imports fell 14.3 percent from 671,800 bpd in June.Copyright Reuters, 2015 ...

Markets - Energy - Asia

China July coal imports from Australia inch up on year BEIJING: China's imports of thermal coal from its biggest supplier Australia hit 8.17 million tonnes in July, up 0.6 percent on a year earlier, customs data showed on Friday, with Australia benefiting from import declines from higher-cost rivals.Total imports from Australia over the first seven months of the year reached 42.27 million tonnes, still down 21.4 percent on the year, the General Administration of Customs said. The number excludes lower-grade lignite.The July volume was up ...

Markets - Energy - Asia

Oil heads for eighth straight week of falls SINGAPORE: Oil headed for its eighth straight weekly decline in Asia Friday, as sharp falls in equities added to worries lacklustre global economic growth will hurt energy demand in an oversupplied market.US benchmark West Texas Intermediate (WTI) for October delivery, a new contract, lost 49 cents to $40.83 a barrel in late-morning trade, while Brent crude for October tumbled 56 cents to $46.06 a barrel.The WTI September contract closed 34 cents higher at $41.14 in ...

Markets - Energy - Asia

Asia-Pacific Crude-Sokol supported by Chinese demand SINGAPORE: The Asia-Pacific crude market remained under pressure from ample supply, although slightly higher refinery margins and limited arbitrage inflows provided some support.Chinaoil, the trading arm of PetroChina, bought two October-loading Sokol cargoes, traders said. One was purchased from Itochu at $2.80 a barrel and one from ONGC in a tender, they said. The price for the latter cargo was unclear.Traders were awaiting the result of a tender by Malaysia's Petronas to sell a cargo ...

Markets - Energy - Asia

Oil prices fall ahead of US stocks data SINGAPORE: Oil prices fell in Asia Wednesday, giving up meagre gains in the previous session as investors await a US inventory report to gauge demand in the world's top economy. US benchmark West Texas Intermediate for September delivery fell 17 cents to $42.45 a barrel and Brent crude for October dipped 23 cents to $48.58 a barrel in late-morning Asian trade.Both contracts eked out modest rebounds in closing deals in New York on Tuesday.But analysts ...