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Asia crude oil: Key market indicators for Jan 17-21 | Hellenic Shipping News Worldwide

Crude oil futures are expected to continue rising this week Jan. 17-21 as tightening supply and demand fundamentals keep investors bullish on oil. The front month ICE Brent and NYMEX light sweet crude futures contracts were not far from 3 and 7-year highs, respectively, which were hit in late October. At 0230 GMT Jan. 17, . ....

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Asia crude – Key market indicators this week | Hellenic Shipping News Worldwide


Asia crude – Key market indicators this week
The Asian crude oil market was trading lower at the start of the week ending Jan. 30, as rising coronavirus cases in the Asia-Pacific region and in Europe weighed on demand outlook.
March ICE Brent crude futures was pegged at $55.25/b at 0300 GMT Jan. 25, down 7 cents/b from the Asian close Jan. 22.
Middle East crude
Trade activity for March-loading cargoes is likely to ease in the week of Jan. 25, as the month draws to a close and purchases by Asian buyers near completion, although some prompt demand could emerge.
The previous week saw demand for Middle East crude increase, with purchase tenders issued by key Asian economies namely India, China, Taiwan, Thailand and Japan. On the back of increased buying, spot differentials for various Middle East grades traded in premiums compared to steep discounts in the last few weeks. ....

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