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Articles by Ada Taib
Crude and oil products markets shaken by major conflict in the Middle East
Herman Wang: War in the Middle East, attacks on energy infrastructure, and jitters in the market. Welcome to another Platts Oil Markets Podcast. I'm Herman Wang, head of oil news for Asia and EMEA, and I'm joined today by Lauren Holtmeier, our senior news editor in Dubai, Gary Clark, our associate director of price reporting for EMEA Clean Refined Products, and Ada Taib, our associate director of price reporting for OPEC Crude and Fuel Oil.
Asia crude: Key market indicators this week
Singapore — Asia's crude oil market started the week of April 19 lower, as sentiment turned cautious in light of the uptick in COVID-19 cases in key European and Asian economies following the release of bullish data and improved demand forecasts last week ended April 16. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude oil - Key market indicators this week
Singapore — The crude oil market in Asia was trading lower at the start of the week of Jan. 18, as an uptick in COVID-19 cases in China threatened to derail crude's demand recovery, while the spread of mutated strains of the coronavirus also weighed on market sentiment. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now March ICE Brent crude futures was pegged at $54.61/b at 0200 GMT Jan. 18, down $1.12/b from the 4.30pm Asian close Jan. 15.
What does the end of the Iran sanction waivers mean to Asian crude and condensate buyers?
Commodities Bulletin Platts Commodities Bulletin is a daily regional round-up of the top, most recent news, in-depth features, information on our events, and a summary of what's new on platts.com. All Commodities Agriculture Coal Natural Gas Oil Petrochemicals Electric Power Metals Shipping New & Discontinued Price Symbols New and Discontinued Price Symbol Alerts are issued when we launch new assessments and announce discontinued assessments.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the week of Dec. 14 lower, as negotiations over a US stimulus package remained stalled, while the prospect of more Iranian oil amid near-term uptick in COVID-19 cases, offset the optimism brought by the granting of an emergency authorization by the US Food and Drug Administration for the Pfizer-BioNTech COVID-19 vaccine. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started off the week of Dec. 7 lower as rising coronavirus cases in the US triggered the reimposition of lockdown measures in Southern California and large parts of the Central Valley Dec. 5, offsetting optimism brought by the OPEC+ production decision in the week ended Dec. 5. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
CRUDE MOC: Cash Dubai 'strong' despite easing from four-month high
New York — Benchmark cash Dubai eased at the Asian close on Dec. 4 after hitting a four-month high against Dubai futures the previous trading session, but the spread between the two was still considered to be strong, trading sources said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now February cash Dubai was assessed at 62.5 cents/b above same-month Dubai futures on Dec. 4, down 2.5 cents/b on the day, S&P Global Platts data showed.
Crude oil futures retreat after overnight rally on vaccine news, US stock draw
Singapore — 0240 GMT: Crude oil futures slipped during mid-morning trade in Asia Dec. 3 after rallying overnight following fresh reports of COVID-19 vaccine approvals in the UK, crude oil inventory draw in the US and as signs of progress on OPEC+ talks emerge. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:40 am Singapore time (0240 GMT), ICE Brent February contract was 13 cents/b (0.27%) lower from the Dec.
Crude falls on surprise US inventory build, OPEC uncertainty
Singapore — 0152 GMT: Crude oil futures were lower in mid-morning trade in Asia Dec. 2 following an unexpected build in US crude inventory and amid uncertainty around the outcome of OPEC talks on extending production cuts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 9:52 am Singapore time (0152 GMT), February ICE Brent crude futures were down 36 cents/b (0.76%) from the Dec.
Crude oil futures fall after stalemate sees OPEC delay meeting
Singapore — 0207 GMT: Crude oil futures fell during mid-morning trade in Asia Dec. 1 after OPEC members failed to agree on extending current output cuts and have delayed the second day of its meeting to later in the week. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:07 am Singapore time (0207 GMT), ICE Brent February contract was down 32 cents/b (0.67%) from the Nov.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started off the week of Nov. 23 firmer, primarily driven by optimism over the pace of development of COVID-19 vaccines and a possible extension of OPEC+ output cuts into 2021. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now January ICE Brent crude futures were pegged at $45.04/b at 0300 GMT Nov. 23, up 77 cents/b from the Asian close Nov. 20.
Saudi Aramco's Asia-bound December OSPs 'within expectations': traders
Highlights Saudi cuts Extra Light and Light by 10 cents/b; raises Medium grade Changes reflective of crude structure, product margins Saudi Aramco had set official selling prices for its December-loading barrels bound for Asia at levels which were within expectations and reflective of changes in the Middle East crude price structure and product margins, traders told S&P Global Platts Nov 6. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Uptick in fuel demand spurs increases in India's refinery runs, crude purchases
Highlights Indian refiners seen making more spot crude oil purchases Refinery run rates could reach pre-pandemic levels by Q1 2021 Singapore — Expected increases in refinery run rates, on the back of an uptick in domestic oil product demand toward the end of the year have spurred purchases of crude oil from Indian refiners in recent weeks, market sources said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
DUBAI FUTURES: Intermonth spreads rangebound as physical trade trickles
Author Ada Taib Editor Kshitiz Goliya Commodity Oil Author Ada Taib Editor Kshitiz Goliya Commodity Oil Singapore — Benchmark Dubai crude futures intermonth spreads were rangebound at noon on Oct. 27 as Asian refiners have mostly concluded their purchasing for the month. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
CRUDE MOC: Dubai cash/futures spread retracts from 7-week high as demand eases
New York — Benchmark cash Dubai fell from a seven-week high against Dubai futures on Oct. 26 amid easing demand from Asian refiners towards the end of the December-loading trading cycle for Middle East crude. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now December cash Dubai crude was assessed at a discount of 49 cents/b to same-month Dubai futures at the 4:30 pm (0830 GMT) Singapore close on Oct.
Crude oil futures steady on stimulus hopes, possible output cut extension
Singapore — 0235 GMT: Crude oil futures were steady during mid-morning trade in Asia Oct. 23, after settling higher overnight on fresh hopes of an agreement on the US stimulus bill and as Russia signals that it will not rule out an extension of production cuts next year. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10.35 am Singapore time (0235 GMT), ICE Brent December crude futures was 4 cents/b higher from the Oct.
Asian refiners receive full Saudi crude term allocations for November
Singapore — Asian refiners have received full crude term allocations for November-loading cargoes from Saudi Aramco, the biggest producer in the Middle East, market participants said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now November allocations for key buyers in Asia were met and traders said they were not aware of any cuts.
CRUDE MOC: Cash Dubai slumps to 4-month low against Dubai futures
New York — Benchmark December cash Dubai slumped to a more than four-month low against Dubai futures on Oct. 2 amid bearish sentiment on supply, while little improvement was expected in terms of the already tepid demand situation from Asian refiners. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Dubai futures intermonth spreads fall as rising supply weighs on sentiment
Author Ada Taib Editor Wendy Wells Commodity Oil Author Ada Taib Editor Wendy Wells Commodity Oil Singapore — The intermonth spreads for benchmark Dubai crude futures fell in midday trading in Asia Oct. 2 as sentiment in the Middle East sour crude market weakened ahead of the release of key official selling prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the week of Sept. 21 weaker as sentiment softened on expectations of higher supply amid a fragile recovery in global oil demand, after Libya lifted its force majeure on oil fields and ports. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now November ICE Brent crude futures was pegged at $43.04/b at 0200 GMT Sept. 21, down 46 cents/b from the Asian close Sept. 18.
How the US sanctions on Venezuela's PDVSA impact Asian crude oil buyers
The US sanctions on Venezuela's state-owned PDVSA in January could block exports of roughly 500,000 b/d of Venezuelan crude bound for US Gulf Coast refineries. For Asian buyers, this would mean that crude supplies from Saudi Arabia and Iraq that would typically flow to the region would be diverted to US. Eesha Muneeb, S&P Global Platts editor for Middle East crudes, and Ada Taib, Managing Editor for crude in Singapore, examine the impact of the US sanctions on the Middle East crude market.
DUBAI FUTURES: Weaker oil product margins weigh on sentiment ahead of OSP release
Singapore — Benchmark Dubai crude futures were trading lower midday in Asia Sept. 3, as weaker oil product cracks weighed on sentiment ahead of the release of Middle East crude oil official selling prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Dubai futures intermonth spreads stable as market awaits fresh cues
Singapore — Benchmark Dubai crude futures were little changed in mid-morning trade in Asia Sept. 2 from the previous session, with intermonth spreads trading at rangebound levels as market participants awaited fresh cues, including the release of monthly Middle East official selling prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Dubai futures spreads rangebound after rising on Abu Dhabi supply news
Singapore — Benchmark Dubai crude futures intermonth spreads were mostly steady at noon in Asia Sept. 1 after rising at the Asian close on Aug. 31 as sentiment was lifted by news of tighter crude oil supply from Abu Dhabi. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Dubai futures intermonth spreads steady as physical spot activity slows
Author Ada Taib Editor Wendy Wells Commodity Oil Author Ada Taib Editor Wendy Wells Commodity Oil Singapore — Benchmark Dubai crude futures intermonth spreads were steady in mid-morning trade in Asia on Aug. 25 as physical spot activity in the Middle East crude market slows down after Asian refiners fulfilled their core requirements. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the week of Aug. 24 lower amid uncertainty over demand and supply growth, and as Libya's National Oil Corp. are expected to resume oil exports following a ceasefire at a time when the OPEC+ alliance is tapering production cuts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now October ICE Brent crude futures were pegged at $44.35/b at 0300 GMT on Aug. 24, down 40 cents/b from the Asian close on Aug.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the Aug. 17 trading week higher ahead of a key OPEC committee meeting on Aug.19 and despite a postponement in the US-China trade deal review over the weekend. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now October ICE Brent crude futures were pegged at $45.13/b at 0300 GMT Aug.17, up 39 cents/b from the Asian close Aug.14.
Crude moves higher amid China's US import boost ahead of key OPEC meet
New York — 0333 GMT: Crude oil futures were higher in mid-morning trade in Asia on Aug.17 as sentiment remained buoyed ahead of a key OPEC+ production review meeting on Aug.19 despite a postponement in the US-China trade deal review over the weekend amid expectations of a continued uptick in China's US crude import. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the Aug. 11 trading week higher as sentiment was lifted by better-than-anticipated global economic recovery indicators and continued compliance with the OPEC+ production cut deal. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now September ICE Brent crude futures were pegged at $45.13/b at 0200 GMT Aug. 11, up 38 cents/b from the Asian close Aug. 7.
Asia crude - Key market indicators this week
Singapore — The Asian crude market started the week of July 27 lower as the demand outlook was weighed down by rising US-China tensions. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The September ICE Brent crude futures was pegged at $43.19/b at 0200 GMT July 27, down 17 cents/b from the Asian close on July 24.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the week of July 13 weaker, amid reports that the OPEC+ alliance will stick to its timeline of paring back its landmark production cuts in August to 7.6 million b/d, from 9.7 million over May-July. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now September ICE Brent crude futures was pegged at $42.83/b at 0230 GMT on July 13, down 37 cents/b from the Asian close on July 9.
Asia crude - Key market indicators this week
Singapore — The crude oil market in Asia started the week of July 6 firmer amid significant progress in compliance of OPEC+ production cuts, with Iraq exporting 3.083 million b/d in June, a 497,000 b/d drop from May and the lowest in more than five years. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now September ICE Brent crude futures was pegged at $42.90/b at 0115 GMT on July 6, up 23 cents/b from the Asian close on July 3.
Intermonth spreads steady as margin concerns cap further upticks
Highlights Poor margins amid expected increase in OSPs weighing on sentiment Cash differentials of Middle East crudes plateauing Singapore — Intermonth spreads for benchmark Dubai crude futures were largely rangebound midmorning in Asia on June 30, the last trading day for the Middle East sour crude market for June, as concerns on margins cap further support seen from sour supply cuts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Saudi Aramco, ADNOC may raise Aug OSPs amid stronger Middle East crude: sources
Highlights Dubai M1-M3 up $3.56/b month-on-month Medium, heavy grade to rise more than lighter grades Weak refining margins weigh on sentiment Singapore — Middle East crude producers Saudi Aramco and Abu Dhabi National Oil Company will likely raise the official selling price differentials of their respective crude for the third consecutive month on the back of a strong uptick in the region's crude structure, market participants said. Not registered?
Dubai Futures: Prompt month spread firms amid ADNOC's August cuts
Highlights July/August Dubai spread hits highest level for the month ADNOC to cut August term barrels by 5% across all grades Singapore — Backwardation for the July/August Dubai crude futures spread firmed late morning in Asia on June 29 to the highest level for the month so far, following reports that Abu Dhabi will be cutting term volumes for August loading by 5% for all of its four export grades. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude - Key market indicators this week
Singapore — The crude market in Asia started the week lower midmorning on June 29, with the Middle East sour crude market entering a new trading cycle midweek, and fresh rounds of official selling prices issuance foremost in participants' mind following the conclusion of the August-trading cycle on June 30. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Backwardation for Middle East crude strengthens as prompt trade cycle nears end
Author Ada Taib Editor Agamoni Ghosh Commodity Oil Highlights Intermonths spreads at its highest for the month Asian refiners largely fulfill requirement for Middle East sour barrels for the month Author Ada Taib Editor Agamoni Ghosh Commodity Oil New York — Backwardation in the Dubai crude futures strengthened early afternoon in Asia on June 26 amid expectations of a re-emergence in demand as the current trading cycle for the Middle East sour crude nears its end. Not registered?
Stronger Dubai crude structure sees release of crude from floating storage
New York — A strengthening in the Middle East's Dubai crude market structure this month has resulted in the release of several million barrels of Middle East sour crude from floating tankers off Malaysia, market participants told S&P Global Platts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
CRUDE MOC: Abu Dhabi's Upper Zakum cargo for August load trades
New York — A cargo of Abu Dhabi's Upper Zakum crude traded in the Platts Market on Close assessment process on June 24, the second cargo traded in the Asia crude MOC in June so far. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Dubai Futures: Intermonth spreads narrow as sentiment softens
Highlights August/September spread pegged at parity Middle East crude cash differentials trending lower Singapore — Dubai crude futures intermonth spreads narrowed by midday June 23, reflecting weakening sentiment in the Middle East sour crude market as physical cargoes traded at lower cash differentials than earlier in the month. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Backwardation in Dubai crude futures eases on release of stored barrels
Author Ada Taib Editor Wendy Wells Commodity Oil Highlights Intermonth spreads ease from 1-month high Prompt loading Murban heard sold out of storage Author Ada Taib Editor Wendy Wells Commodity Oil New York — Backwardation in the Dubai crude futures intermonth spreads narrowed in mid-morning trade in Asia June 22 after Middle East sour barrels were heard being sold out of floating storage for prompt loading. Not registered?
OPEC+ compliance efforts push Dubai spreads further into backwardation
Highlights Over-producing countries given until June 22 to submit compensation plans August/September spread flips to backwardation for first time in June New York — Front-month Dubai intermonth spreads moved further into backwardation in mid-morning trade in Asia June 19 after the OPEC+ alliance increased pressure on members to comply with production cuts, giving violators until June 22 to detail their reduction plans. Not registered?
Middle East crude ticks lower, inter-month spreads ease from month-to-date high
Author Ada Taib Editor Agamoni Ghosh Commodity Oil Highlights Sentiment remains bullish for medium, heavy grades Spot trading activity to pick up following tender conclusion Author Ada Taib Editor Agamoni Ghosh Commodity Oil New York — Dubai inter-month spreads eased slightly mid-morning of June 18 after rising on June 17 on the back of bullish sentiment for medium, heavy grades in the Middle East sour crude market. Not registered?
Middle East crude steady even as Brent/Dubai EFS widens to over 3-month high
Author Ada Taib Editor Agamoni Ghosh Commodity Oil Highlights Outcome of Qatar's Al-Shaheen tender awaited Intermonth spreads higher mid-morning Author Ada Taib Editor Agamoni Ghosh Commodity Oil New York — Front-month Brent/Dubai Exchange Futures for Swaps spread widened to a three-month high mid-morning of June 17, as market participants await for the outcome of Qatar's Al-Shaheen crude tender that closed June 16 evening. Not registered?
Most Asian refiners get Middle East allocation cuts for July: sources
New York — Most buyers of Saudi Arabian and Iraqi crude in Asia will receive lower July volumes following the extension of the OPEC+ production cut agreement earlier this month, industry sources say. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Middle East crude climbs amid talks of Iraq allocation cuts
Author Ada Taib Editor Agamoni Ghosh Commodity Oil Highlights Flat price rises 4% but intermonth spreads ease Prices rise amid reports of Iraq lowering oil exports Author Ada Taib Editor Agamoni Ghosh Commodity Oil New York — Dubai crude futures were higher mid-morning on June 16 as talks emerged of allocation cuts for Asian buyers of Iraqi oil in July following reports that the Middle Eastern crude producer will sharply cut back on oil exports in June. Not registered?
Asia crude - Key market indicators this week
New York — The crude market in Asia started the week lower mid-morning on June 15 ahead of an expected uptick in spot trading activity for August-loading Middle East crude cargoes week ending June 19. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now August ICE Brent crude futures stood at $37.82/b at 0300 GMT on June 15, down 37 cents/b from $38.19/b the 0830 GMT close in Asia on June 12.
Middle East crude slides but sentiment improves on returning demand from Asia
Highlights Dubai flat price, spreads ease Sentiment steady for physical crude market Demand seen returning from key Asian countries New York — Benchmark Dubai crude futures fell in mid-morning trade in Asia June 12 tracking global crude oil prices, but sentiment still remained largely upbeat as participants welcomed returning demand from Asia. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
Asia crude - Key market indicators this week
New York — The crude market in Asia started the week June 8 -12 higher mid-morning on June 8 after Saudi Aramco raised key Middle East official selling prices for all of its crude for all regions following an OPEC+ agreement to extent deep cuts for July. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now August ICE Brent crude futures stood at $42.85/b at 0300 GMT June 8, up $2.22/b from $40.63/b the 0830 GMT close in Asia on June 5.
Asia crude - Key market indicators this week
Singapore — The crude oil market opened the week firmer Monday morning in Asia, with trading activity for July-loading cargoes expected to go into full swing this week. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now July ICE Brent crude futures were at $33.76/b at 0200 GMT Monday, up $1.61/b from the 0830 GMT close in Asia on Friday.
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