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Last update: Sun, 24 Jul 2016 11pm

Asia

Markets - Energy - Asia

Oil prices resume decline in Asia SINGAPORE: Oil prices resumed their decline in Asia Wednesday, with global crude oversupply continuing to dampen investors' sentiment despite occasional rallies.Prices had risen the previous day after a four-day losing streak, as traders weighed a bearish price outlook from the International Energy Agency (IEA) and a lowered US estimate for crude production.The oil market has collapsed by more than half since mid-2014 with prices languishing under $50 a barrel, hurt by the supply glut and the decision by the oil exporter grouping OPEC to maintain output to counter booming US shale production.The Paris-based IEA, in a report Tuesday, forecast that the global oil market would recover to $80 a barrel by 2020.At around 0300 GMT Wednesday, US benchmark West Texas Intermediate for delivery in December was trading 47 cents lower at $43.74 and Brent crude for December was down 26 cents at $47.18."We continue to think the market will remain ...

Markets - Energy - Asia

Oil prices rebound in Asian trade SINGAPORE: Oil prices rose in Asia Friday but a supply glut and clearer hints the Fed might raise interest rates next month limited gains.US benchmark West Texas Intermediate for delivery in December was trading 21 cents higher at $45.41 and Brent crude for December was up 21 cents to $48.19 at around 0430 GMT.Prices however are lower compared with the previous week as the market struggles with a crude oversupply and weak demand due to ...

Markets - Energy - Asia

Asia-Pacific Crude-Firm on robust Thai demand SINGAPORE: The Asia-Pacific crude market held firm on Wednesday as robust demand from Thailand helped soak up excess supplies.PTT bought several cargoes for delivery in early January including Labuan from Shell, Seria Light from Itochu and Kimanis from Lukoil, traders said. The Thai trader may have also bought a Kutubu cargo, they said, although details could not be independently verified.Pertamina will close a tender on Wednesday to buy sweet crude for January delivery. The Indonesian ...

Markets - Energy - Asia

Oil prices flat in Asia on US data and supply concerns SINGAPORE: Oil prices were flat in Asia Wednesday as investors weighed US petroleum industry data showing a build-up in crude stockpiles and news that shipments from a Libyan port were halted due to tensions.US benchmark West Texas Intermediate for delivery in December was down one cent at $47.89 and Brent crude for December was trading two cents higher at $50.56 at around 0315 GMT.The industry-funded American Petroleum Institute said US crude inventories rose by 2.8 ...

Markets - Energy - Asia

Oil prices up in Asia ahead of US crude inventories report SINGAPORE: Oil prices rebounded in Asia Tuesday, buoyed by bargain hunting ahead of the release of US government data that will gauge crude demand in the world's biggest economy.Analysts expect the data to be released Wednesday by the US Energy Department to show that commercial crude stockpiles rose in the week to October 30 which typically means weaker demand in the world's top oil consuming nation.Despite occasional rallies, oil remains generally bogged down by a ...

Markets - Energy - Asia

Oil prices retreat in Asia as rally fizzles SINGAPORE: Oil prices declined in Asia Friday as a midweek rally dissipated with no relief in sight to a global crude oversupply, analysts said.Prices surged on Wednesday driven by bargain-hunting and a below-forecast rise in US commercial crude inventories, but concerns over the supply glut soon resurfaced as output levels remain elevated.At around 0245 GMT, US benchmark West Texas Intermediate (WTI) was down 23 cents at $45.83 and Brent crude was trading eight cents lower ...

Markets - Energy - Asia

Nepal signs fuel agreement with China to ease crisis: official KATHMANDU: Nepal signed its first ever fuel agreement with China Wednesday for Beijing to supply petroleum to ease a crippling shortage, after protests blocked imports from sole supplier India, an official said."We have signed a MOU (memorandum of understanding) with China National United Oil Corporation to supply the petroleum products that Nepal needs," said Deepak Baral, spokesman at the state-run Nepal Oil Corporation.Copyright AFP (Agence France-Presse), 2015 ...