05032016Tue
Last update: Tue, 03 May 2016 11am

Asia

Markets - Energy - Asia

Asia-Pacific Crude-Stronger; Petronas sells Labuan SINGAPORE: The Asia-Pacific crude market remained supported by high refining margins and Brent's narrowing spread to Dubai crude.Brent's premium to Dubai swaps fell to its lowest since early-October last year, making Brent-linked grades more attractive relative to Middle East grades.Brent-Dubai Exchange of Futures for Swaps (EFS) narrowed 12 cents to $1.14 a barrel.Malaysia's Petronas sold 600,000 barrels of Labuan crude loading in May at around $5.10-$5.30 a barrel above dated Brent, according to traders, slightly higher than last month. The cargo may have been bought by Concord Energy, they said, but the deal could not be verified.ONGC sold 700,000 barrels of Russian Sokol crude for loading on May 21-27 via a tender at around $4 a barrel above Oman/Dubai quotes, traders said, in line or slightly higher than the previous month.A tanker is currently lifting 700,000 barrels of crude at the eastern Libyan port of Hariga, an oil official said ...

Markets - Energy - Asia

Middle East Crude-DME Oman weakens against Dubai SINGAPORE: DME Oman's discount to Dubai widened in the Middle East crude market on Monday, as the focus turned to trade for Russian Far East grades.Abu Dhabi's flagship Murban grade was supported by robust refinery demand and tight supply with the premium to its official selling price (OSP) at more than 50 cents a barrel, traders said, although it was unclear if any deals have been done at those levels.Complex refining margins in the Singapore ...

Markets - Energy - Asia

Oil prices down in Asia SINGAPORE: Oil prices fell in Asian trade Monday after Saudi Arabia said it was pumping more oil, exacerbating a global supply glut, analysts said.US benchmark West Texas Intermediate for May delivery was down 57 cents at $46.00 and Brent tumbled 43 cents to $54.89.Daniel Ang, an investment analyst with Phillip Futures in Singapore, said it was "the same fundamental issue of supply and demand" affecting the market."Oil prices are falling because of the bearish sentiment ...

Markets - Energy - Asia

Indonesia's Pertamina seeks gasoline, diesel for April-May SINGAPORE: Indonesia's state-owned Pertamina is seeking up to 9,600 kilolitres, or more than 60,000 barrels, of diesel and gasoline for delivery into Timor Leste, a tender document showed on Friday. The company is seeking two cargoes of 2,200 to 2,500 kilolitres each of 92 octane gasoline and another two cargoes of 1,500 to 2,300 kilolitres each of 500 ppm sulphur diesel for delivery over April to May.The cargoes are for delivery into Dili, Timor Leste.The ...

Markets - Energy - Asia

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia on Friday, with analysts warning of further downward pressure owing to a global oversupply and a strong dollar.US benchmark West Texas Intermediate for April delivery eased 10 cents to $43.86 and Brent for May climbed 13 cents to $54.56 in late-morning trade."The price fluctuations seems flat at the moment as traders are still wary of the oversupply situation," Ric Spooner, market analyst with CMC Markets in Sydney, said ...

Markets - Energy - Asia

Asia-Pacific Crude-Mixed; condensate stronger SINGAPORE: The Asia-Pacific crude market was mixed on Thursday, weighed by lower Chinese appetite while strong naphtha cracks buoyed demand for condensate.Spot differentials for condensate cargoes improved in line with strong naphtha cracks, even as Qatar would resume exports of low sulphur condensate (LSC) after maintenance.ConocoPhillips sold a May-loading cargo of Bayu Undan to an unknown buyer at a discount of $1.70-$2 a barrel against dated Brent, traders said, about $1 a barrel higher than ...

Markets - Energy - Asia

Middle East Crude-Basra demand to rise on India's strategic storage  SINGAPORE: Iraqi Basra Light received a boost in the Middle East crude market on Thursday as India geared up to buy 8 million barrels of the medium sour grade to fill its first strategic petroleum reserves (SPR).India's oil ministry on Tuesday instructed state refiners Indian Oil Corp and Hindustan Petroleum Corp Ltd to each seek two very large crude carriers (VLCC) of Basra oil for arrival in May-June, two sources familiar with the matter said.The ...