Asia crude oil: Key market indicators this week
Asia’s crude oil market entered the trading week starting May 3 on a cautious note as the easing of OPEC+ production cuts adds to supply while demand concerns remain high amid a resurgence of COVID-19 infections in several key Asian economies. July ICE Brent crude futures were pegged at $66.63/b at 0300 GMT May 3, down $1.10/b from the 0830 GMT Asian close on April 30.
Middle East The week commences with eyes on the issuance of official selling prices by Middle East oil producers. Abu Dhabi National Oil Co. issued its OSPs for June after the launch of the IFAD Murban futures. The prices for the other ADNOC grades like Das Blend, Umm Lulu and Upper Zakum have been pegged at differentials to Murban.
Singapore Asia s crude oil market entered the trading week starting May 3 on a cautious note as the easing of OPEC+ production cuts adds to supply while demand concerns remain high amid a resurgence of COVID-19 infections in several key Asian economies. July ICE Brent crude futures were pegged at $66.63/b at 0300 GMT May 3, down $1.10/b from the 0830 GMT Asian close on April 30.
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Middle East The week commences with eyes on the issuance of official selling prices by Middle East oil producers. Abu Dhabi National Oil Co. issued its OSPs for June after the launch of the IFAD Murban futures. The prices for the other ADNOC grades like Das Blend, Umm Lulu and Upper Zakum have been pegged at differentials to Murban.
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Dec 31, 2020 02:07 GMTFXStreet News
China’s official Manufacturing Purchasing Manager’s Index (PMI) eases to 51.9 in December from November’s 52.1 while nearing the consensus forecast of 52.0.
Meanwhile, the official Non-Manufacturing Purchasing Manager’s Index (PMI) jumped to 55.7 in December vs. 52.4 expected and 56.4 last.
Market reaction
AUD/USD pierces 0.7700 while taking the bids following the news.Get the 5 most predictable currency pairs