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Last update: Tue, 31 May 2016 07am

Asia

Markets - Energy - Asia

Oil prices ease off in Asia after hitting new highs SINGAPORE: Oil prices eased slightly in Asia Friday after hitting a series of new highs this week, bolstered by a weak dollar.The US Federal Reserve held interest rates unchanged after its policy meeting on Wednesday, signalling it was in no hurry to raise rates. On Thursday, the dollar fell about 3.0 percent against the Japanese yen after the Bank of Japan disappointed markets by not offering additional stimulus measures for the struggling economy. At about 0625 GMT, US benchmark West Texas Intermediate for June delivery was one cent down at $46.02 while Brent North Sea for June delivery was three cents lower at $48.11.On Thursday, Brent rose to $48.14 a barrel, its highest price since November, while WTI traded at $46.03 a barrel, its loftiest mark this year. The slight clawback during early Asian trading hours on Friday could be put to profit taking and normal market fluctuations, said Alex ...

Markets - Energy - Asia

Vietnam's Jan-April crude oil exports drop 22.2pc y/y: govt HANOI: Vietnam's crude oil exports during January-April fell 22.2 percent from the same period last year to an estimated 2.49 million tonnes, or 151,000 barrels per day (bpd), the government said on Wednesday.Crude oil export revenues in the four-month period plunged 52.1 percent from a year ago to $678 million, the government's General Statistics Office said.Oil product imports rose 10.9 percent in the same period to an estimated 3.92 million tonnes, while the value dropped ...

Markets - Energy - Asia

Oil prices rise on weaker dollar ahead of Fed rate decision SINGAPORE: Oil prices extended gains in Asia Wednesday as traders await a report on US stockpiles, and some analysts said the market was set for a rebalancing after touching bottom.The two main contracts -- West Texas Intermediate (WTI) and Brent crude -- had risen sharply in European trading Tuesday on speculation that Saudi Arabia plans to reduce drilling, fuelling hopes of an easing of the global supply glut.A weak dollar has also provided support as ...

Markets - Energy - Asia

Asia-Pacific Crude-Weak, eyes China demand  SINGAPORE: The Asia-Pacific crude market remained weak on Tuesday with Malaysian and Australian grades yet to move for June.A drop in demand from Chinese teapot refineries, and a potential release of oil from storage after Brent's contango narrowed, have depressed regional grades.Still, China raised retail fuel prices on Tuesday which may lift its demand for crude again.Traders looked to Petroleum Brunei's monthly Kimanis crude tender for price direction although a rise in supply in June ...

Markets - Energy - Asia

Thailand's PTT signs LNG cooperation deal with Korea Gas BANGKOK: Thailand's largest energy firm PTT Pcl said on Tuesday it has signed an agreement with South Korea's Korea Gas Corp to cooperate in their liquefied natural gas (LNG) business. The cooperation will include seeking investment opportunity in LNG supply chain and securing LNG supply, Noppadol Pinsupa, senior executive vice-president for PTT's gas business unit, told reporters.Korea Gas and PTT are among top LNG buyers in Asia.State-controlled PTT has considered to buy LNG from spot ...

Markets - Energy - Asia

Oil prices fall after news of possible Saudi oilfield expansion SINGAPORE: Crude prices fell in Asia Monday following a report saying Saudi Arabia could maintain its total production capacity with the expansion of an oilfield, fuelling fresh concerns about the global supply glut.The losses come after a week of strong gains in the commodity that came on the back of hopes for the outlook of China's economy and speculation about the resumption of talks on limiting output.Saudi Arabian Oil Co. will complete an expansion of ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha recovers; ADNOC offers term SINGAPORE: Asia's naphtha crack recovered from a five-week low to reach a three-session high of $70.95 a tonne on Friday, with demand from South Korea seen.YNCC bought a naphtha cargo for second-half May delivery to Yeosu at a discount of $1 a tonne to Japan quotes on a cost-and-freight (C&F) basis.Ample supplies remained a concern and kept prices for the May cargo at a discount, traders said.On term talks, Abu Dhabi National Oil Company (ADNOC) ...