06272016Mon
Last update: Mon, 27 Jun 2016 05am

Asia

Markets - Energy - Asia

Asia Naphtha/Gasoline-Cracks up; westbound gasoline shipment seen SINGAPORE: Asia's naphtha crack extended gains to reach a three-session high of $45.68 a tonne after hitting a 17-month low on June 7 as heavy supplies dragged.Demand for naphtha from South Korea, however, has been healthy, with Lotte Chemical buying naphtha for arrival in the second half of July at a discount of about $4 a tonne to Japan quotes on a cost-and-freight (C&F) basis.This was mostly in keeping with levels since early June as weak fundamentals persisted."The weak market is going to last for quite a while," one Singapore-based trader said.Supplies are set to increase with two more condensate splitters being added later this year, one in South Korea and another in Qatar, a key naphtha exporter to Asia.Hyundai Chemical, a joint venture between Hyundai Oilbank Co and Lotte Chemical, is due to start trial runs at a new 110,000 bpd splitter in Daesan. The unit is expected to ...

Markets - Energy - Asia

Asia Fuel Oil-Spreads diverge amid uncertainty on oil price direction SINGAPORE: Asian fuel oil spreads diverged on Friday on muted buying activity amid wider uncertainty among traders on which way prices are heading,traders said on Friday.That came as oil prices fell on Friday from 2016 highs hit earlier this week after a rebound in the dollar.While the number of bids and offers were evenly balanced, there was a difference of up to $7 between some of the potential trades, while only one trade was concluded ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Prices still at discount levels even as cracks strengthen SINGAPORE: Asia's naphtha crack rebounded from a 17-month low on Thursday to touch its highest in two sessions at $44.28 a tonne, but was still far below this year's high at over $145 as heavy supplies put pressure on the market.This has been clearly reflected in spot prices for cargoes on a cost-and-freight (C&F) basis, which have been at discounts since late April.South Korea's YNCC has bought around 75,000 tonnes of naphtha for second-half July ...

Markets - Energy - Asia

Oil hits fresh 2016 highs as US crude stocks fall SINGAPORE: Oil prices edged up to fresh 2016 highs on Thursday, buoyed by a fall in U.S. crude inventories, a weaker dollar and strong demand, although some analysts warned that the recent rally was starting to look overblown.International Brent crude oil futures hit a high of $52.86 a barrel, and were up 23 cents at $52.74 a barrel at 0700 GMT. U.S. crude hit a fresh high of $51.67 and was up 33 cents higher ...

Markets - Energy - Asia

Oil prices near 2016 highs as US crude inventories drop SINGAPORE: Oil prices remained near 2016 highs in early trading on Thursday, buoyed by a fall in U.S. crude inventories, a weaker dollar and strong demand, but some analysts warned that the recent rally was starting to look overblown.International Brent crude oil futures were trading at $52.70 per barrel at 0045 GMT, up 19 cents from their last close.U.S. West Texas Intermediate (WTI) crude was 32 cents higher at $51.55 a barrel.Traders said the price ...

Markets - Energy - Asia

Asia-Pacific Crude-Drop in Qatari condensate exports set to support NWS SINGAPORE: Asia-Pacific condensate may receive a lift from tighter competing supplies from Qatar as the producer prepares to start trial runs for a second plant at the Ras Laffan condensate refinery.Qatar will double its capacity for processing condensate by almost 150,000 barrels a day (bpd) in August when production trials begin for the Laffan Refinery 2 (LR2) plant, with commercial production starting by October, a Qatar Petroleum official said.Condensate exports from Qatar will drop from ...

Markets - Energy - Asia

Japan May spot LNG prices fall to lowest in more than 2 years TOKYO: Prices for liquefied natural gas (LNG) spot cargoes for Japan, the world's top buyer, fell in May to the lowest since the trade ministry started publishing figures more than two years ago, official data showed on Thursday.The average price of spot LNG contracted in May fell by 10 cents from the previous month to $4.10 per mmBtu, the monthly data by the Ministry of Economy, Trade and Industry (METI) showed, down from $14.80 two ...