07302016Sat
Last update: Sat, 30 Jul 2016 12pm

Asia

Markets - Energy - Asia

Asia Distillates-Gasoil cash differential flips to discount SINGAPORE: Asia's gasoil cash differential for the benchmark 500ppm grade flipped to a discount on Thursday as the near-term demand and supply outlook offset a decline in weekly Singapore onshore inventories, traders said."Sentiment is weakening now because of the slower regional demand seen from the monsoon season and to some extent heavier supplies as refinery turnarounds are completed," one Singapore-based trader said.Bidding interest for benchmark 500ppm gasoil was relatively weaker in the cash markets on Thursday. In the Platts window only three bids were reported for the fuel against nine offers, industry sources said.The lacklustre interest sent cash differentials of 500ppm gasoil to a discount for the first time since May 25, settling 8 cents lower from the previous close at 1 cent below Singapore quotes.Gasoil cracks for the 500ppm grade also edged 12 cents lower on Thursday to $12.03 a barrel but held above the $12 level for the ...

Markets - Energy - Asia

Oil prices rise as markets on tenterhooks ahead of Brexit vote TOKYO: Oil prices rose in early Asian trading on Thursday, shrugging off a smaller than expected decline in U.S. stockpiles as the market waited with bated breath for the result of Britain's "Brexit" vote.Trading has been choppy in the run up to Thursday's vote on whether Britain leaves or stays in the European Union (EU), and is expected to remain so before results start filtering through late on Thursday or early Friday.Brent's August front-month contract ...

Markets - Energy - Asia

Asia-Pacific Crude-Firm on Shell's demand, lower Vietnamese exports SINGAPORE: Asia-Pacific crude market stayed firm on Wednesday, supported by a drop in Vietnamese exports and demand from Shell, traders said.PV Oil sold two August-loading Chim Sao cargoes at $1.50 a barrel above dated Brent to BP and Unipec, similar premiums from previous month, they said.The Vietnamese oil marketer also sold two Ruby cargoes to Shell in a separate tender at similar premiums from previous month.Petroleum Brunei was still in talks to sell two Kimanis ...

Markets - Energy - Asia

Asia Distillates-Gasoil cracks hold above $12, cash differentials unchanged SINGAPORE: Asia's gasoil crack for the benchmark 500ppm grade edged 9 cents lower on Wednesday to $12.15 a barrel, but held above the $12 level for the third straight session.Discounts for the 500ppm July-August time spreads were also slightly lower after slipping 1 cent to 13 cents a barrel.In the cash markets, two cash deals were reported in the Platts window. Winson bought 150,000 barrels of 500ppm gasoil from Sietco at parity to Singapore quotes ...

Markets - Energy - Asia

Middle East Crude-Oman slips into discount  SINGAPORE: The Middle East crude market weakened further on Wednesday with Oman flipping into a discount against Dubai swaps for the first time in close to two months.DME Oman was at 16 cents a barrel below Dubai swaps, down from an 11-cent premium in the previous session, Reuters calculations showed.Cash Dubai also sank deeper into discount against swaps after Reliance and SK Energy sold four August partials to Shell at $47-$47.05 a barrel, traders said. ...

Markets - Energy - Asia

Oil prices above $50, buoyed by US stock draw TOKYO: Oil prices rose in early Asian trading on Wednesday, with U.S. crude joining Brent above $50 a barrel after data from the American Petroleum Institute (API) showed a larger than expected draw on stocks.U.S. crude futures' August contract, the new front month from Wednesday, had climbed 9 cents to $49.94 a barrel by 0223 GMT. Earlier it rose to as high as $50.54, marking the first time it had risen above $50 since June ...

Markets - Energy - Asia

Oil edges up on weaker dollar as Britain EU vote looms SINGAPORE: Oil climbed in Asia Wednesday after Federal Reserve boss Janet Yellen's cautious remarks on the US economy weakened the dollar and traders nervously await Britain's vote on its future in the European Union.Traders are also waiting for the release later in the day of official US stockpiles data, hoping for an idea about demand in the world's top oil consumer, after an industry group said supplies had tumbled last week.Yellen warned Tuesday the US ...