SINGAPORE: The Asia-Pacific crude market stayed weak on Tuesday as unsold supply weighed while traders shift their focus to January trade.
Four North West Shelf (NWS) cargoes will be available in January, steady from the previous month, a trader said, citing a preliminary loading programme.
Woodside has a cargo loading on Jan. 1-5 while BP and Petro-Diamond have one each on Jan. 11-15 and Jan. 17-21, respectively. Chevron's cargo will load on Jan. 25-29.
The intensifying political strife in Libya continued to threaten supply from the OPEC producer.
A rival government that has seized the capital stepped up its battle for power and legitimacy, taking control of a key oilfield, according to a security commander on Monday.
Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, rose above $2 a barrel for the first time in more than three months.
Front-month December EFS edged up 13 cents to $2.03 a barrel.
MARKET NEWS
A creditor of bankrupt OW Bunker is preparing a lawsuit in Singapore seeking to reclaim its money, court documents showed, as the fallout from the collapse of the world's largest marine fuel supplier begins to ripple through the sector.
U.S. oil and natural gas production from the country's fastest growing and largest shale fields showed no sign of slowing down, the U.S. Energy Information Administration said on Monday in a forecast.
Two senior trading heads have left Brightoil Petroleum Holdings Ltd, and the company has hired a former executive from China's state-run Sinochem, marking a reshuffle at its Asia trading operations, senior trading sources said.
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