Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (45546)	5/27/1999 10:22:00 AM
From: diana g	Respond to of 95453

Asian Distillates Fall Amid Scant Demand, Lower Crude Futures (I find the statement I've put into bold very thought provoking, especially in this context. --d ) quote.bloomberg.com Singapore, May 27 (Bloomberg Energy) - Distillate prices in Asia fell today amid scant demand and weakening crude oil futures. In the spot market, gasoil prices, free on board, Singapore, fell 20 cents to $16.45-$16.55 a barrel, while f.o.b. jet kerosene prices were little changed at $17.40-$17.60 a barrel. In the swaps market, June gasoil prices were 20 cents lower at $16.45-$16.55 a barrel. Kerosene prices for June delivery were down 15 cents at $17.55-$17.95 barrel. Traders said demand for jet kerosene was very limited in the region and no trades were concluded on the spot market today. In addition, brokers said no Asian jet supplies had been sold into the U.S. West Coast for ''quite a long time,'' despite the arbitrage for Asian jet cargoes moving to the U.S. West Coast being profitable. Qatar issued a tender to sell term supplies of jet and 0.5 percent sulfur gasoil, a broker said. Qatar is offering one cargo of gasoil a month between July-September, and one jet cargo each in August and September. July Brent crude oil futures on the Singapore International Monetary Exchange settled 15 cents lower at $15.30 a barrel, while August Brent futures was down 8 cents at $15.39. Still, demand for gasoil was steady. Two cargoes traded on the spot market amid limited availability of prompt gasoil barrels because of lower exports from Korea. Traders said this was because of robust domestic demand and refinery outages. Following a fire at its Ulsan hydro-cracking unit on May 13, South Korea's SK Corp. was forced to slow down production and had to buy gasoil on the spot market in order to fill its term contracts, a trader said. In addition, Nepal issued a new 0.25 percent sulfur high speed diesel purchase tender, traders said. Nepal Oil Corp. seeks two 30,000-ton cargoes, one for July 1-10 delivery and the other for July 21-31. The tender closes June 9. Indonesia's state-owned Pertamina bought two 92-RON gasoline cargoes for June 4-6 and June 15-17 loading. The cargoes were bought at a premium of 20-25 cents a barrel above the Mean Of Platt's Singapore quotes, in a tender which closed May 20, traders said.