SINGAPORE Oil pricing agency Platts is changing how it assesses oil product values in Asian trade from July 1 in a move traders expect to boost volumes and encourage the use of regional oil storage facilities built at a cost of billions of dollars.
SINGAPORE Asia's fuel oil market is set to see a record volume of physical trades in June based on open interest in derivatives for the oil product, with backers of opposing bets expected to drive up activity in what is usually a high-demand period.
SINGAPORE Saudi Arabia's demand for oil products could increase by up to 20 percent this summer from last year as soaring temperatures stoke demand for power generation, but new refineries will limit the need for imports, traders and analysts said.
SINGAPORE Brent crude edged towards $67 a barrel on Monday, reversing earlier losses after weak Chinese data reinforced views that stimulus measures would be rolled out for the world's second largest economy.
SINGAPORE Fuel oil stocks stored in the oil hub of Singapore are the highest in nearly two years as soaring Russian supplies are diverted from Europe, threatening to pressure Asian prices of the product that have rallied 10 percent this month.
SINGAPORE Singapore is taking steps to reduce its almost total reliance on fossil fuels in power generation by offering commercial customers the city-state's first dual solar and conventional electricity contract.
SINGAPORE, Jan 27 The window to sell Western
fuel oil to Asia is starting to close as demand for a limited
fleet of supertankers to store cheap crude pushes freight rates
to multi-month highs, shipping and trade sources said.
SINGAPORE The persistent glut that has knocked more than 50 percent off oil prices since June has cheered tank farm companies and shipowners operating in Singapore, who are fielding increased enquiries for crude and gasoline storage space.
SINGAPORE For the first time since 2009, a contract to buy crude oil or any sort of refined product costs less if it's for immediate delivery than for future shipment, giving traders more reason to buy now than later.
SINGAPORE The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest, as major companies expand and small ones shrink amid a credit squeeze.