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DJ ASIA FUEL OIL: Prices Lower; MRPL Offers May-Oct HSFO

DJ ASIA FUEL OIL: Prices Lower; MRPL Offers May-Oct HSFO Asia fuel oil prices were lower Wednesday, in tandem with overnight losses in crude futures. BP returned to the cash market, and bought 20,000 metric tons of 180 cst fuel oil for April 20-24 loading from Vitol at a premium of $3.00/ton over the Singapore mean. Shell submitted a bid for 20,000 tons of 180 cst fuel oil for April 25-29 or May 1-5 loading at a premium of $3/ton over the Singapore mean, but the bid went untested. Although BP, Shell were still trying to support prices, what they can do is limit

Middle East crude rises as Asia ships more oil to US

Middle East crude rises as Asia ships more oil to US Oil traders and refiners scrambled yesterday to move prompt crude oil and product supplies from Asia to the US West Coast, anticipating tighter markets with the closure of BPs massive Prudhoe Bay oilfield. The shipments gave more lift to Middle East sour crude prices and regional jet fuel differentials, traders said. US refiner Tesoro Corp booked the 80,000-tonne crude oil tanker Cape Avila from Oman to the West Coast in early September, shipbrokers said. More : gulfnews.com

Top Asia oil refiner Sinopecs H1 rises

Top Asia oil refiner Sinopecs H1 rises Top Asian oil refiner Sinopec Corp. (0386.HK: Quote, Profile, Research) said first-half earnings rose 8.9 percent as its loss-making refining business bled more red ink with Beijing capping product prices to protect low-income groups. Sinopec posted a net profit of 21.4 billion yuan ($2.68 billion) in the first six months versus 19.65 billion yuan in the same period a year earlier. The results beat a mean consensus of 20.23 billion yuan, based on forecasts from four analysts polled by Reuters. More : today.reuters.com

Indonesian Shares End Lower On Weak Rupiah, Falls In Asia

Indonesian Shares End Lower On Weak Rupiah, Falls In Asia ndonesian shares ended lower Monday, hurt by a weaker rupiah and falls in most major Asian markets after stocks in the U.S. tumbled Friday, dealers said. They said overall sentiment was also hit by concerns over high oil prices and as many investors switched out of their equity funds to bid for the IDR3 trillion in government bonds scheduled to be issued Tuesday. "These factors are good reasons for investors to continue to lock in profits," said a trader with Paramitra Securities. The Jakarta Stock Exchange Composite Index ended down 22.761 points,

Asia rises on Japan policy moves

Asia rises on Japan policy moves Asian shares rose on Friday, building on day-earlier gains as investors took a Bank of Japan move to slowly tighten credit as a sign of optimism in the long-term prospects of the world's number-two economy. However, the yen was pinned near two-week lows because investors don't expect an immediate rate rise despite the Bank of Japan's announcement it was dropping a super-loose monetary policy. Japanese government bond (JGB) yields rose in anticipation of a rate hike later this year, oil and gold were flat, and London spread betters called the FTSE 100 14-17 points lower. The Nikkei share