06282016Tue
Last update: Tue, 28 Jun 2016 08pm

Asia

Markets - Energy - Asia

Middle East Crude-Benchmarks gain for 2nd session despite Brexit SINGAPORE: The Middle East crude benchmarks gained for a second session on Friday, supported by demand from Shell, even as global prices were roiled by Britain's vote to leave the European Union.Oil prices slumped by more than 6 percent as the Brexit vote raised fears of a broader economic slowdown that could reduce demand for oil.Shell purchased four August Dubai partials from Reliance, Chinaoil and SK Energy at $45.35-$45.40 a barrel, traders said. The trades narrowed cash Dubai's discount to swaps by 10 cents to 13 cents a barrel.DME Oman's premium to Dubai swaps rose by close to 20 cents on Friday.Outside the window, spot trade slowed as most refiners have completed their purchases for August-loading barrels. Thailand's PTT will award a tender soon to buy crude on behalf of IRPC. PTT was in talks with sellers to buy ESPO and Upper Zakum, a trader said. Copyright Reuters, 2016 ...

Markets - Energy - Asia

Asia-Pacific Crude-Weak margins depress light grades SINGAPORE: Light sweet grades and condensate in the Asia-Pacific crude market weakened on Friday, dragged down by soft margins for light distillate products.Oil Search has sold two of its Kutubu cargoes loading in August to BP at $1-$1.50 a barrel above dated Brent, a trader said. The deal, which could not be independently verified, would point to a drop in the light sweet crude's value.Woodside was heard to have lowered its offer for August-loading North ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha extends losses; discounts widen SINGAPORE: Asia's naphtha crack extended losses to touch its lowest in six sessions at $51.75 a tonne as heavy supplies dragged.South Korea's YNCC bought 50,000 to 75,000 tonnes of naphtha for first-half August delivery to Yeosu at a discount at levels around $3.50 a tonne to Japan quotes on a cost-and-freight (C&F) basis, traders said.The discount was steeper compared to purchases made in South Korea in the week of June 13 at an average of ...

Markets - Energy - Asia

Asia Distillates-Gasoil cash differential flips to discount SINGAPORE: Asia's gasoil cash differential for the benchmark 500ppm grade flipped to a discount on Thursday as the near-term demand and supply outlook offset a decline in weekly Singapore onshore inventories, traders said."Sentiment is weakening now because of the slower regional demand seen from the monsoon season and to some extent heavier supplies as refinery turnarounds are completed," one Singapore-based trader said.Bidding interest for benchmark 500ppm gasoil was relatively weaker in the cash markets on ...

Markets - Energy - Asia

Oil prices rise as markets on tenterhooks ahead of Brexit vote TOKYO: Oil prices rose in early Asian trading on Thursday, shrugging off a smaller than expected decline in U.S. stockpiles as the market waited with bated breath for the result of Britain's "Brexit" vote.Trading has been choppy in the run up to Thursday's vote on whether Britain leaves or stays in the European Union (EU), and is expected to remain so before results start filtering through late on Thursday or early Friday.Brent's August front-month contract ...

Markets - Energy - Asia

Asia-Pacific Crude-Firm on Shell's demand, lower Vietnamese exports SINGAPORE: Asia-Pacific crude market stayed firm on Wednesday, supported by a drop in Vietnamese exports and demand from Shell, traders said.PV Oil sold two August-loading Chim Sao cargoes at $1.50 a barrel above dated Brent to BP and Unipec, similar premiums from previous month, they said.The Vietnamese oil marketer also sold two Ruby cargoes to Shell in a separate tender at similar premiums from previous month.Petroleum Brunei was still in talks to sell two Kimanis ...

Markets - Energy - Asia

Asia Distillates-Gasoil cracks hold above $12, cash differentials unchanged SINGAPORE: Asia's gasoil crack for the benchmark 500ppm grade edged 9 cents lower on Wednesday to $12.15 a barrel, but held above the $12 level for the third straight session.Discounts for the 500ppm July-August time spreads were also slightly lower after slipping 1 cent to 13 cents a barrel.In the cash markets, two cash deals were reported in the Platts window. Winson bought 150,000 barrels of 500ppm gasoil from Sietco at parity to Singapore quotes ...