Tag Archives: Channelnewsasia

Oil prices inched lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to bolster prices after the market’s recent slide. Brent crude futures had fallen 81 cents, or 0.9 …

Russia will respond to price caps on Russian oil by shipping more supply to Asia, its energy minister Nikolai Shulginov told reporters at the Eastern Economic Forum in Vladivostok on Tuesday. “Any actions to impose a price cap will lead to deficit on (initiating countries’) own markets and will increase …

Japanese gas and electric utilities with long-term contracts to buy liquefied natural gas (LNG) from the Sakhalin-2 project in Russia have received a new contract offer from the newly-formed Russian operator, some companies said on Wednesday. The Russian entity was registered on Aug. 5 to replace the project operator Sakhalin …

Oil prices fell on Tuesday as bleak economic data from top crude buyer China renewed fears of a global recession. Brent crude futures fell 73 cents, or 0.8 per cent, to $94.37 a barrel by 0313 GMT. WTI crude futures dipped 44 cents, or 0.5 per cent, to $88.97 a …

Asian shares steadied on Monday as U.S. stock futures made cautious gains ahead of U.S. inflation data later in the week, while the euro touched a seven-year top on the yen amid wagers of European Central Bank tightening. Oil prices firmed after Saudi Arabia raised prices sharply for its crude …

Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude futures for July fell $1.34, or 1.2 per cent, to …

Oil prices fell on Monday, paring early gains as investors took profit from a surge in the previous session, albeit in the shadow of supply fear as the European Union prepares an import ban on Russian crude and with limited increase in OPEC output. Brent crude futures were down $1.66, …

China has pledged to inject 10 billion yuan ($1.5 billion) into its coal-fired power firms to provide financial relief and support their efforts to guarantee power supplies, state media said late on Wednesday, citing a cabinet meeting. The new funding was part of a wider package of policies announced by …

Japan’s Chief Cabinet Secretary said on Monday the Sakhalin 1 oil and Sakhalin 2 liquefied natural gas (LNG) projects in Russia are “extremely important” for the country’s stable energy supply and it does not intend to abandon its stake in the project. Hirokazu Matsuno’s remark came after Japan decided to …

Japan’s biggest oil refiner Eneos Holdings Inc has no plans to buy Russian crude until all problems related to the Ukraine crisis are over and will purchase alternative supplies from the Middle East, its chairman said on Wednesday. “For now, we intend to get alternatives from existing trading partners such …