07302016Sat
Last update: Sat, 30 Jul 2016 11pm

Asia

Markets - Energy - Asia

Oil extends gains as Brexit fears ease TOKYO: Oil extended gains in Asian trading on Monday as a weaker dollar and easing worries over Britain's possible exit from the European Union helped support crude.London Brent crude for August delivery was up 34 cents at $49.51 a barrel by 0235 GMT, after settling up $1.98, or 4.2 percent, at $49.17 on Friday.NYMEX crude for July delivery, which expires on Tuesday, was up 44 cents at $48.42 a barrel, after closing up $1.77, or 3.8 percent, on Friday.Campaigning for Britain's vote on EU membership resumed on Sunday after a three-day hiatus prompted by the killing of a pro-EU lawmaker.Three opinion polls ahead of Thursday's vote showed the 'Remain' camp recovering some momentum, although the overall picture remained one of an evenly split electorate."It is hard to think the market's calmer tone... is going to be an ongoing theme this week, particularly as Brexit campaigning and the release of opinion ...

Markets - Energy - Asia

Oil extends rebound on weak dollar, easing Brexit fears SINGAPORE: Oil prices extended gains in Asia Monday on the back of a weaker US dollar and easing fears of a UK exit from the European Union. The US dollar fell for the fourth day in a row on Monday, trading lower against most major currencies, making the dollar-priced commodity cheaper for those using other currencies and pushing up demand. At about 0245 GMT, US benchmark West Texas Intermediate for July delivery was up 44 ...

Markets - Energy - Asia

Asia Distillates-Gasoil premiums fall as selling pressure mounts SINGAPORE: Asia's benchmark 500ppm gasoil cash premium to Singapore quotes fell to 4 cents a barrel on Friday, its lowest since May 26, amid more aggressive selling from suppliers, traders said.Three cash deals for 500ppm gasoil were reported in the Platts window, with two 150,000 barrel cargoes trading at parity to Singapore quotes and another 150,000 barrels changing hands at a premium of 10 cents a barrel, industry sources said.By contrast, on Tuesday 450,000 barrels ...

Markets - Energy - Asia

Asia Fuel Oil-Time spreads narrow on expectations of reduced supply SINGAPORE: The July-August spreads contract for 380-cst fuel oil narrowed by varying degrees on Friday amid expectations of reduced prompt supplies while the arbitrage window remains shut, traders said.On the Intercontinental Exchange (ICE), the 380-cst July-August spreads narrowed their discounts by about 40 cents on Friday to about $2.60 a tonne to Singapore quotes, industry sources said.In the Platts window, aggressive bidding in July swaps narrowed the 380-cst July-August spreads contract from yesterday's discount of ...

Markets - Energy - Asia

Asia-Pacific Crude-Indonesia eyes benchmark change SINGAPORE: The Asia-Pacific crude market held steady on Friday as traders looked ahead to tenders for price direction.Petroleum Brunei issued a tender to sell two Kimanis cargoes while CPC is seeking sweet crude in another tender.The outlook for August-loading cargoes is mixed, a trader said, as weak margins could weigh on demand while a narrower Brent-Dubai price spread would be supportive for spotdifferentials.Indonesia is considering adding global oil benchmarks Brent and West Texas Intermediate (WTI) ...

Markets - Energy - Asia

Middle East Crude- Aug-loading grades slip into discounts SINGAPORE: August-loading Middle East crude cargoes slipped on Friday into discounts against their respective official selling prices (OSPs) as weak margins battered demand in Asia.Chinaoil's offers of Upper Zakum at parity to 5 cents above its OSP during the Platts MoC process did not locate a buyer, depressing the grade's differential into a discount, traders said."There are quite a few sellers for Upper Zakum," a trader said.Cash Dubai stayed at a discount to swaps for ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Cracks up; low Western naphtha cargoes seen SINGAPORE: Asia's naphtha crack edged up 14 cents and held firm at a two-week high of $53.83 a tonne on Friday, as Western cargoes arriving in Asia were seen at low levels. About 1 million tonnes of naphtha were placed on provisional bookings for July arrival in Asia, similar to volumes fixed for June. These were down from a monthly average of 1.62 million tonnes for January to May arrivals, Reuters data showed. Refiners focusing ...