BEIJING/SINGAPORE: China has bought enough spot crude from the Middle East, Africa and Russia in January to replace lost Iranian oil supply, trade sources said on Friday, putting it in a strong position as it tussles with the Islamic Republic over (...)
SINGAPORE: High crude prices may derail growth in China and India, the two nations that have helped the global economy overcome the financial crisis, the International Energy Agency said.
Asian countries led by China and India are tightening (...)
SINGAPORE: Most of Iran's biggest crude buyers in Asia are finding ways around difficulties in financing oil trade and see little disruption in 2011 flows after cuts this year, even as a dispute over payment methods threatens to stall sales to (...)
SINGAPORE: The volume of Iranian crude stored at sea has fallen by as much as 4 million barrels because of a spike in Asian demand this month, traders and shipping sources said.
Asian refiners have more than offset waning demand from European (...)
SINGAPORE: Taiwan's Formosa Petrochemical Corp sold nearly 2.0 million barrels of Oman crude for August loading in the spot market after a blast forced it to shut its refinery in late July, trade sources said on Thursday.
The company declined to (...)
SINGAPORE: Front-month Brent/Dubai Exchange of Futures for Swaps (EFS) for September jumped on Wednesday to the highest since December 2008 when OPEC producers began record supply curbs.
The spread between the price markers for Atlantic Basin and (...)
SINGAPORE: Kuwait Petroleum Corp sold full-range naphtha for August 2010 to July 2011 loading to Asian buyers at a lower premium, traders said on Friday, as weak petrochemical margins and ample arbitrage supplies dampened sentiment.
At least one (...)
TOKYO/SINGAPORE: Kuwait has notified at least two Asian buyers they will curb crude supplies in July-September by 5 percent below contracted volumes, but will supply full term supplies for the period to at least one in Asia, sources said on (...)
SINGAPORE: US oil prices pared sharp losses to trade above $70 on Friday, soothed by a recovery in regional equity markets, but fears about Europe's debt crisis kept the market on track for its eighth fall in nine sessions.
China's shares (...)
SINGAPORE: Qatar sold via tender up to five cargoes of Deodorized Field Condensate (DFC) for loading in July at stronger differentials on firm naphtha cracks, traders said on Friday.
Qatar International Petroleum Marketing Co, also known as (...)