12082016Thu
Last update: Thu, 08 Dec 2016 02pm

Asia

Markets - Energy - Asia

UAE'S ADNOC sets Oct Murban crude OSP at $51.35/bbl SINGAPORE: Abu Dhabi National Oil Company (ADNOC) raised the October retroactive official selling price for its benchmark Murban crude to $51.35 a barrel, up $5.85 from September, ADNOC said on Thursday.That puts October Murban's premium to Dubai quotes at $2.37 a barrel, up 20 cents from a month ago, in line with market expectations.The September Das OSP premium to Dubai quotes rose 25 cents while that for Upper Zakum increased by 35 cents, lower than premiums fetched for spot cargoes sold last month. Copyright Reuters, 2016 ...

Markets - Energy - Asia

Asia Fuel Oil-Tight prompt supplies, limited on-spec cargoes boost cash premiums SINGAPORE: Cash premiums of Asia's 380-cst fuel oil jumped on Thursday amid ongoing concerns of limited availability of immediate on-specification supplies prompted by a shortage of cutter stocks and congested loading terminals, traders said.No cash deals were reported in the Platts window on Thursday as buyers continued to heavily outnumber suppliers, industry sources said.A total of 16 bids for 380-cst fuel were left standing by the end of the Platts window trading session on Thursday, ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha margin rises to seven-month high SINGAPORE: The Asian naphtha margin climbed to a seven-month high on Thursday as demand continued to be firm in the region, with deals done at higher levels, traders said.South Korea's Lotte Chemical bought up to 27,500 tonnes of naphtha for delivery in the second half of December at a premium of about $2 a tonne to Japan quotes, they said.This is a big jump from previous tenders, they added."Demand recovery is in full swing with ...

Markets - Energy - Asia

Iran oil exports hit 2.44mn bpd TEHRAN: Iran boosted its oil exports to 2.44 million barrels per day in late October as it regains market share lost during years of international sanctions, its oil minister said Wednesday."Oil exports reached 2.44 million bpd in late October, one of the highest levels ever," the Mehr news agency quoted Bijan Namdar Zanganeh as saying.Since a nuclear deal with world powers took effect in January and international sanctions were lifted, Iran has rapidly increased its ...

Markets - Energy - Asia

Oil extends losses after report shows surprise US stocks build TOKYO: Crude oil prices fell for a fourth day on Wednesday, as jittery investors awaited official U.S. stockpile figures later in the day after industry data showed a surprise build in inventories, underlining a persistent global glut.The American Petroleum Institute said crude stockpiles rose by 9.3 million barrels in the week to Oct. 28, more than nine times the amount expected by analysts polled by Reuters.U.S. West Texas Intermediate crude fell 40 cents, or 0.9 ...

Markets - Energy - Asia

Asia's Sept imports of Iranian oil rise 73pc from year ago TOKYO: Imports of crude oil by Iran's four major buyers in Asia in September jumped more than 70 percent from a year ago as the producer continued to recoup market share lost under sanctions.Iran's top four Asian buyers, China, Japan, India and South Korea, imported nearly 1.8 million barrels per day (bpd) in September, government and ship-tracking data showed. That is down from the highest level in at least 5-1/2 years in August.But oil-purchase arrivals ...

Markets - Energy - Asia

Oil falls as non-OPEC yet to pledge concrete output steps TOKYO: Oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, suggesting they wanted the oil producing group to solve its differences first.Officials and experts from OPEC countries and non-OPEC nations including Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia met for consultations in Vienna on Saturday and only agreed to meet again in November before a scheduled regular OPEC meeting ...