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Asia

Markets - Energy - Asia

Brent oil falls below $50 as Nigeria ups production SINGAPORE: Oil prices retreated in Asia Tuesday, with Brent easing below $50 on news of increased production from Nigeria following the repair of infrastructure damaged in militant attacks.Bloomberg News reported Tuesday that Nigeria, Africa's biggest oil producer, pumped an average 1.53 million barrels a day last month, up around 90,000 a day from May.The Nigerian state minister for petroleum resources, Emmanuel Kachikwu, said last month that a ceasefire with rebel forces had allowed the Nigerian government to repair the damaged oil pipelines, Bloomberg reported.At around 0325 GMT, US benchmark West Texas Intermediate for August delivery was down 67 cents, or 1.37 percent, to $48.32 and Brent crude for September eased 42 cents, or 0.84 percent, to $49.68 a barrel."Oil prices are pulling back on easing supply disruption concerns, as markets reacted to news that Nigerian production has increased last month," IG Markets analyst Bernard Aw told AFP."Nonetheless, oil prices remained ...

Markets - Energy - Asia

Asia-Pacific Crude-Market steady as traders await tender results SINGAPORE: The Asia-Pacific crude market crude market was steady on Monday as traders awaited outstanding tender results for cargoes sold to Indonesia.Details of state-owned Indonesian company Pertamina's tender for Nile Blend or Wassana crude for mid-September loading were yet to emerge.The company, however, had taken some Nigerian Qua Iboe for September loading, which could pressure regional grades.Improving gasoil crack spreads may provide a boost for middle-distillate rich Asia-Pacific grades. Gasoil's premium to Dubai crude rose ...

Markets - Energy - Asia

Asia Distillates-Gasoil stays firm; China exports seen much higher SINGAPORE: Asia's gasoil crack edged down by less than 1 percent to about $12.30 a barrel on Monday, after the value shot to more than a six-month high on June 30 as the supply overhang was seen as less severe compared to first quarter, traders said.Summer demand from south and southeast Asia, coupled with refinery run cuts due to scheduled maintenance at secondary units had given the market unexpected support.More importantly, refiners having previously focused ...

Markets - Energy - Asia

Oil rises as market seen in balance, but slow Asian demand hurts TOKYO/SINGAPORE: Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.Brent crude futures were trading at $50.60 per barrel at 0643 GMT, up 25 cents from their last settlement. U.S. crude was up 22 cents at $49.21.U.S. markets are closed on Monday for the U.S. Independence Day holiday."The bulls are seemingly once again on their relentless march to ...

Markets - Energy - Asia

Oil stable as market seen in balance, but slow Asian demand hurts TOKYO/SINGAPORE: Oil futures were steady on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.Brent crude futures were trading at $50.31 per barrel at 0441 GMT, almost unchanged from their last settlement. U.S. crude were down 5 cents at $48.94.There will be no West Texas Intermediate crude settlement on Monday as U.S. financial and commodity markets are closed for the U.S. ...

Markets - Energy - Asia

Oil prices edge up as Brent pushes further above $50 SINGAPORE: Crude prices edged up in Asia on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country's oil infrastructure.Prices see-sawed last week, plunging in the immediate aftermath of Britain's shock decision to leave the European Union but rallying after central banks worldwide vowed support to financial markets.At about 0325 GMT, US benchmark West Texas Intermediate was up four cents at $49.03, while Brent rose seven ...

Markets - Energy - Asia

Asia Distillates-Gasoil holds but China supply may hurt sellers SINGAPORE: Asia's gasoil crack edged down by 5 cents to $12.35 a barrel on Friday after the value shot to more than a six-month high in the previous session, boosted by trims in refinery runs due to maintenance at secondary units in South Korea and Taiwan.Some 1.9 million tonnes of diesel from Asia and the Middle East were seen sailing to Europe in June, giving Asian sellers an outlet outside the East.But eyes remained on ...