09302016Fri
Last update: Fri, 30 Sep 2016 04am

Asia

Markets - Energy - Asia

Oil edges higher ahead of OPEC meeting SINGAPORE: Oil prices rose modestly in Asia on Monday ahead of a producers' meeting this week that might agree to cap supplies.But analysts warned the wellspring of optimism should be tempered by experience of two years of gluts and disagreement among members of the Organization of Petroleum Exporting Countries (OPEC).OPEC and Russia are slated to begin meeting later Monday on the sidelines of the International Energy Forum in Algiers, looking for ways to stabilise prices that have been depressed since 2014.Pre-forum talks last week between OPEC kingpin Saudi Arabia and member Iran were bleak, with neither willing to commit to freezing production, sending prices plunging more than 3.0 percent on Friday.However, both major contracts rebounded on Monday after Algeria's energy minister said all options were still on the table, said OANDA market analyst Jeffrey Halley."With OPEC meeting on the sidelines of International Energy Forum for the next three days, and ...

Markets - Energy - Asia

Middle East Crude-Condensate prices under pressure SINGAPORE: Condensate prices came under pressure on Friday after Qatar sold prompt cargoes as the start-up of its new splitter was delayed, traders said on Friday.Qatari state oil marketer Tasweeq has sold 1 million barrels, or two cargoes, of deodorised field condensate (DFC) at $1.90 a barrel above Dubai quotes that will load in October, they said. The buyers were not immediately known."Most of the buyers would have covered their demand," a trader said, adding ...

Markets - Energy - Asia

Oil prices ease as focus shifts to producers' meeting SINGAPORE: Oil prices eased on profit-taking in Asian trade Friday following two days of solid gains as traders turned their attention to next week's planned meeting of key producers.Russia and members of the OPEC oil cartel led by Saudi Arabia will gather in Algeria for three days from Monday and are expected to discuss a stubborn supply glut that has depressed prices since 2014.Traders are uncertain that a deal can be reached on freezing or ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha time spreads turn positive on Qatar delay SINGAPORE: Asia's naphtha crack extended gains to reach a nearly four-month high of $60.93 a tonne while the intermonth spreads flipped to a premium or backwardation for the first time since April 27 on demand and expectations of lower supplies.When fundamentals are strong, the front-month price is usually higher than the following month. The current strength in the market was driven mainly by supply, traders said.Qatargas has delayed the start-up of its new 146,000 barrels ...

Markets - Energy - Asia

Oil prices climb on weaker dollar, after US crude stock draw SINGAPORE: Oil prices rose on Thursday, lifted by a weaker dollar and extending gains from the previous session when a surprise third consecutive weekly US crude inventory draw tightened supply.US West Texas Intermediate (WTI) crude oil futures were trading at $45.76 per barrel at 0659 GMT, up 42 cents, or 0.9 percent, from their previous close. The contract gained as much as 3 percent the day before.International benchmark Brent crude futures were also up, gaining ...

Markets - Energy - Asia

Oil climbs 1 percent after surprise US crude stock draw SINGAPORE: Oil prices rose around 1 percent on Thursday, extending gains from the previous session after a surprise third consecutive weekly US crude inventory draw tightened the market.US West Texas Intermediate (WTI) crude oil futures were trading at $45.81 per barrel at 0301 GMT, up 47 cents, or 1 percent, from their previous close. The contract had already gained as much as 3 percent the day before.Prices jumped after a report from the US Energy ...

Markets - Energy - Asia

Oil rises on US stockpile drop, weaker dollar SINGAPORE: Oil prices climbed Thursday, building on the previous day's gains following a bigger-than-forecast fall in US stockpiles, and a plunge in the dollar after the Federal Reserve kept interest rates on hold.The commodity rallied Wednesday after the US Department of Energy said inventories had tumbled by more than six million barrels last week, almost twice as much as expected, indicating a pick-up in demand in the world's top economy."This drop is expected to alleviate ...