01222017Sun
Last update: Sun, 22 Jan 2017 07pm

Asia

Markets - Energy - Asia

Middle East Crude-Dubai weakens; Qatar limits condensate supply  SINGAPORE: Cash Dubai weakened in the Middle East crude market on Monday as selling by Chinaoil continued.Chinaoil sold 13 April partials to Shell and Trafigura at $54.80-$54.83 a barrel on the window, a trader said. That puts cash Dubai at around $2.30 a barrel below Dubai swaps, down from a discount of about $2 in the previous session.Saudi Aramco and other Gulf producers have lowered their official selling prices (OSP) this month in line with a weakening Dubai market since the end of 2014 and the likely seasonal dip in Asian import requirements going into the second quarter.The contango in the Dubai swaps market deepened further in the front months on Monday.Qatar will not export any low sulphur condensate (LSC) in April, traders said. Tasweeq did not sell any LSC cargoes in its previous two monthly tenders due to maintenance, but was expected to resume exports in April.It was unclear ...

Markets - Energy - Asia

Oil prices extend rise in Asian trade SINGAPORE: Oil prices advanced further in Asia Monday as dealers cheered signs of a dip in North American crude production, while a robust US jobs report also provided support, analysts said. US benchmark West Texas Intermediate for March delivery rose 36 cents to $52.05 while Brent crude for March rose 10 cents to $57.90 in afternoon trade.Last week saw WTI surge seven percent and Brent add 9.4 percent, their best weekly gains since February 2011.Nicholas ...

Markets - Energy - Asia

Oil prices extend rise in Asian trade SINGAPORE: Oil prices advanced further in Asia Monday as dealers cheered signs of a dip in North American crude production, while a robust US jobs report also provided support, analysts said. US benchmark West Texas Intermediate for March delivery rose 65 cents to $52.34 while Brent crude for March rose 35 cents to $58.15 in mid-morning trade.Last week saw WTI surge seven percent and Brent add 9.4 percent, their best weekly gains since February 2011.Nicholas ...

Markets - Energy - Asia

Oil up over 4pc on Libya raid, China easing NEW YORK: Crude prices closed up more than 4 percent on Thursday as rising violence in producer Libya and an expected boost in oil demand from China's central bank easing helped the market rebound from a sharp rout in the previous session.Traders and analysts said they expect crude's rollercoaster ride which began last Friday to continue as it tries to find a bottom to a seven-month selloff that took prices near six-year lows.But many were ...

Markets - Energy - Asia

Oil extends rally, but swelling inventory drags SINGAPORE: Crude oil prices rose as much as $1 on Friday, continuing a rebound from near six-year lows plumbed last week, but rising global inventories and steady OPEC supply will likely cap gains.Crude prices closed more than 4-percent higher on Thursday as conflict in producer Libya and an expected boost in oil demand following China's central bank easing helped the market rebound.Benchmark Brent crude futures were 41 cents higher at $56.98 a barrel by 0351 ...

Markets - Energy - Asia

Indonesia approves threefold rise in biodiesel subsidies JAKARTA: The Indonesian government's proposal to ramp up biodiesel subsidies overcame its final parliamentary hurdle on Friday, an Energy Ministry official said, noting that the subsidy increase could take effect next month."The biodiesel subsidy is 4,000 rupiah per litre," Bio-energy and Renewable Energy Director Dadan Kusdiana told Reuters, noting that the government would use funding that had been allocated to subsidise diesel."Biodiesel consumption contributes 10 percent of the total targeted diesel consumption of 17.05 million ...

Markets - Energy - Asia

Oil extends gains in Asian trade SINGAPORE: Oil prices extended gains in Asia Friday as volatile trading continued unabated, with dealers divided on whether the beaten-down commodity has bottomed out, analysts said.US benchmark West Texas Intermediate for March delivery rose 90 cents to $51.38 while Brent crude for March gained 84 cents to $57.41 in afternoon trade. WTI on Thursday jumped $2.73 in New York and Brent advanced $2.41, erasing losses during Asian trade. "Oil's continuing whipsaw has largely been motivated ...