02082016Mon
Last update: Mon, 08 Feb 2016 11pm

Asia

Markets - Energy - Asia

Oil prices edge down as slowing demand adds to high output SINGAPORE: Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year.Front-month US West Texas Intermediate (WTI) futures were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday's close.The international benchmark Brent was at $36.59 per barrel, down 3 cents from their last close and less than a dollar away from 11-year lows reached earlier in December.Both contracts are down by two-thirds since prices started tumbling in June 2014.While output from exporters like Russia, the Organization of the Petroleum Exporting Countries (OPEC) and US shale drillers has been at or near record highs, demand has so far held up strong, preventing oil prices from falling even lower.That may be about to change.Oil analysts JBC Energy said that refined oil "product demand growth in ...

Markets - Energy - Asia

Middle East Crude-Cash Dubai, DME Oman weaken SINGAPORE: The Middle East crude market weakened on Monday, with discounts to both the cash Dubai and DME Oman benchmarks widening against Dubai swaps.Trading of February cargoes was mostly over, with spot differentials for most grades facing downward pressure towards the end of the month, as refiners had largely met their requirements early on in the trading cycle.Activity was muted, with many traders away on holiday, although one said that a few Murban cargoes could ...

Markets - Energy - Asia

Japan crude imports from Iran rise 3.1 pct in Nov TOKYO: Japan's crude oil imports from Iran in November rose 3.1 percent from a year earlier to 168,285 barrels per day (802,656 kilolitres), data from the Ministry of Economy, Trade and Industry (METI) showed on Monday.Copyright Reuters, 2015 ...

Markets - Energy - Asia

Oil prices down in Asia SINGAPORE: Oil prices fell in Asia on Monday, giving up some of last week's sharp gains as concerns of a global supply glut weighed on prices ahead of fresh US stocks data. US benchmark West Texas Intermediate (WTI) for delivery in February was down 27 cents at $37.83 and Brent crude for February was trading 17 cents lower at $37.72 a barrel at around 0320 GMT.Prices jumped last week after data showed an unexpected fall ...

Markets - Energy - Asia

Vietnam 2015 crude oil export volume eases 0.6pc HANOI: Vietnam's crude oil exports this year dipped an estimated 0.6 percent from a year ago to 9.25 million tonnes, or 186,000 barrels per day, the government said on Saturday. Crude oil export revenue for the full year plunged 47.3 percent to $3.81 billion, the General Statistics Office said.Oil product imports rose 18.7 percent to an estimated 10 million tonnes, with the value falling 29 percent to $5.34 billion, the office said in its monthly ...

Markets - Energy - Asia

US crude pips into premium over Brent as exports loom though price outlook remains bleak SINGAPORE: US crude prices briefly rose to a premium over internationally traded Brent on Wednesday following a report of a surprise dip in US inventories and the potential for more exports in an oil market which still suffers from ballooning oversupply.Front-month U.S. West Texas Intermediate (WTI) crude futures were trading at $36.47 per barrel at 0744 GMT, up 33 cents from their last settlement.Brent crude earlier traded as low as $36.28 a barrel, flipping WTI ...

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 ...