01212017Sat
Last update: Sat, 21 Jan 2017 09am

Asia

Markets - Energy - Asia

Oil steady in quiet holiday season trade; supply cut deal to kick in Jan 1 TOKYO: Oil prices were little changed on Tuesday in light pre-New Year holiday trading with markets adopting a wait-and-see stance less than a week before the first output cut deal agreed between OPEC and non-OPEC members in 15 years is scheduled to kick in.London Brent crude for February delivery was down 1 cents at $55.15 a barrel by 0335 GMT after settling up 11 cents on Friday. Oil markets were closed on Monday after Christmas at the weekend.NYMEX crude for February delivery was up 10 cents at $53.12 a barrel, after closing at a 17-month high on Friday.Jan. 1. bring the official start of the deal agreed by the Organization of Petroleum Exporting Countries and non-OPEC members to lower production by almost 1.8 million barrels per day (bpd). The accord is designed to bolster oil prices, squeezed for more than two years by a global supply glut."OPEC's output cuts are ...

Markets - Energy - Asia

Oil prices rise on weaker dollar, optimism on output cuts SINGAPORE: Oil prices nudged higher in tepid Asian trading on Thursday, supported by a weaker dollar and optimism that crude producers would abide by an agreement to curb output to prop up markets.But gains were capped by an unexpected rise in U.S. crude inventories last week and as Libya said it expected to boost output over the next few months.Brent futures for February delivery climbed 18 cents to $54.64 a barrel as of 0423 GMT, ...

Markets - Energy - Asia

China Nov crude oil imports from Saudi Arabia up 29.19pc: y/y BEIJING: China's November crude oil imports from Saudi Arabia jumped 29.19 percent on a year earlier to 1.15 million barrels per day (bpd), customs data showed on Thursday.That means Saudi Arabia has overtaken Russia to become the largest crude oil supplier of the country.Imports from Russia rose 17.92 percent on a year earlier to 1.12 million bpd, customs data showed on Thursday.Crude oil imports from Iran in November climbed 24.48 percent year-on-year to 611,338 bpd, ...

Markets - Energy - Asia

Middle East Crude-Benchmarks rise; more February ESPO crude on offer SINGAPORE: The Middle East crude benchmark Dubai rose on Wednesday on expectations that the OPEC and non-OPEC output deal to reduce production will start to tighten supplies.A single Dubai partial traded during the Platts window on Wednesday, with Indian private refiner Reliance selling the partial to Shell at $52.90 a barrel.Spot trade for Middle East crude has slowed as most buyers have already secured sufficient cargoes to meet their feedstock requirements.Trade for Russia Asia-Pacific ESPO ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Gasoline hits three-week high SINGAPORE: Asia's naphtha crack was at a three-session high of $66.28 a tonne on Wednesday, tracking the strength of gasoline where margins on petrol hit a three-week high of $9.47 a barrel due to firm demand, traders said."Gasoline has been going up this week so naphtha is getting a guide from that," said a Singapore-based trader.Robust demand for gasoline has countered China's strong exports in recent months.Official data showed that China exported about 940,000 tonnes ...

Markets - Energy - Asia

Asia Fuel Oil-Cash premiums slip as BP undercuts suppliers SINGAPORE: Cash premiums of 380-cst fuel oil sagged to a near two-week low after aggressive selling by BP in the Platts window, industry sources said.Premiums of 380-cst fuel oil were assessed 10 cents lower from the previous session at $2.20 a tonne to Singapore quotes, its lowest premium since Dec. 9.Five 380-cst fuel oil cargoes were traded in the window on Wednesday totalling 100,000 tonnes, all of which were offered by BP. Hin Leong lifted ...

Markets - Energy - Asia

Asia Distillates-Discount widens on higher supplies ahead SINGAPORE: Asia's cash discount for 500ppm gasoil widened 27 percent to 38 cents a barrel on Wednesday, the steepest discount in about two weeks as the pressure of high supply in the next months weighed.China exported 1.47 million tonnes of diesel in November, up 8.5 percent from October and 8.3 percent below the record high monthly level in September.The focus was still on Beijing not granting independent refiners, typically known as teapots, export quotas in ...