OPEC-member Kuwait has notified at least two customers in Asia that it will keep curbs on term crude oil supplies in July-September steady from April-June. For full story, click here
Continue reading "Kuwait will keep Q3 crude supply curbs to Asia"
Friday, May 29, 2009
Indian Oil Corp. bought a total 5.0 million barrels of sweet crude in its tenders for July and August loading, including its first purchase of the new Nigerian Agbami grade. For full story, click here
Continue reading "Asia Crude-India IOC purchases 5 mln bbls July/Aug"
Monday, May 25, 2009
Asia’s leading oil and gas producer, PetroChina declared that it would purchase a 45.5 percent stake in Singapore Petroleum Company for $1.02 billion, its first overseas acquisition of a public company. For full story, click here
Continue reading "Deals, delays as China Oil Majors have looked Overseas"
Friday, April 24, 2009
Crude oil futures dipped this Friday in Asia as traders opted to take profit ahead of the weekend, with regional share markets largely directionless and fundamentals staying weak. David Moore, commodity strategist at Commonwealth Bank of Australia, stated: Oil consumption is likely to remain weak, a consequence of the global recession, limiting the upside to [...]
Continue reading "NYMEX Crude futures fell"
Friday, April 17, 2009
Recent dismal economic data and growing U.S. inventories kept oil prices below $50 a barrel Friday despite hopes of a possible second-half recovery in crude demand. Benchmark crude for May delivery fell 40 cents to $49.58 a barrel by Noon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.
Continue reading "Downward Pressure On Oil Price"
Thursday, April 16, 2009
European traders are moving more North Sea crude oil cargoes to the U.S. and Asia as European demand remains sluggish, traders and shipping brokers said Wednesday. For full story, click here
Continue reading "More North Sea Crude Oil Heading To US, Asia"
Friday, March 27, 2009
It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.
Continue reading "Higher Oil: Sign Of Economic Growth"
Tuesday, March 17, 2009
Asia’s largest oil and gas producer, PetroChina, surged 2.1 percent to HK$5.94, tracking a 4 percent hike in crude oil prices overnight, but gains were capped by a slight pullback in oil prices on Wednesday after data showed U.S. crude inventories rose much more-than-expected last week. For full story, click here
Continue reading "Petrochina rose 2.1%"
Sunday, March 8, 2009
Energy stocks strengthened as a result of rise in crude-oil prices. April crude rose as high as $46.76 per barrel in electronic trading on Globex. They were recently up 84 cents at $46.36 a barrel. Robert Tony Nunan, an assistant general manager at Mitsubishi Corp. in Tokyo, said: With oil prices able to stage a [...]
Continue reading "Shares of Energy Stocks rose; Crude-oil prices firm above $45"
Tuesday, February 24, 2009
Oil prices were mixed in Asian trade on Wednesday as the market looked for signs of demand in a weakening global economy. For more information, click here
Continue reading "Oil prices mixed in Asian trade"
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Monday, June 1, 2009