Posts Tagged ‘Surplus’
Australia’s goods trade surplus shrinks to A$2.9 billion in November
[SYDNEY] Australia’s surplus on goods trade narrowed sharply in November as shipments of iron ore fell back, data showed on Thursday, while imports were a fraction firmer. The Australian Bureau of Statistics reported the surplus on goods fell to A$2.94 billion (S$3.8 billion) in November, from a revised A$4.35 billion in October. That was well…
Read MoreOil rises as Trump’s Venezuela blockade takes edge off global crude surplus concerns
[NEW YORK] Oil prices rallied by more than 1 per cent on Wednesday after US President Donald Trump ordered a blockade of all oil tankers under sanctions entering and leaving Venezuela, raising global political tensions and easing concerns about a swelling surplus of global crude. Brent crude futures settled at US$59.68 a barrel, rising 76 cents, or 1.3…
Read MoreOil steadies as traders weigh up surplus concerns and sanctions
OIL steadied as traders weighed concerns about a glut and fallout from US sanctions against Russia at the start of a data-heavy week. Global benchmark Brent traded above US$63 a barrel after two weekly declines, while West Texas Intermediate was below US$60. Traders are concerned that worldwide output is poised to run ahead of demand,…
Read MoreOil prices hit 5-month low on US-China trade tensions, looming supply surplus
[NEW YORK] Oil prices eased on Wednesday to a five-month low on escalating US-China trade tensions and the International Energy Agency’s prediction of a supply surplus in 2026. Brent crude futures fell 48 cents, or 0.8 per cent, to settle at US$61.91 a barrel. US West Texas Intermediate (WTI) futures fell 43 cents, or 0.7 per…
Read MoreOil settles lower as Opec+ plan adds to expectations of supply surplus
[HOUSTON] Oil prices settled lower on Tuesday as investors braced for a supply surplus due to potential Opec+ plans for a larger output hike next month and the resumption of oil exports from Iraq’s Kurdistan region via Turkey. Brent crude futures for November delivery, expiring on Tuesday, settled down 95 cents, or 1.4 per cent, at US$67.02 a…
Read MoreSouth-east Asia set to export surplus biofuels to Europe, Petronas executive says
[SINGAPORE] South-east Asia is positioned to export biofuels to other markets such as Europe as production capacity exceeds demand in the region, a senior executive with Malaysian state oil and gas company Petronas said on Wednesday (Sep 10). Annual sustainable aviation fuel capacity in Asia is projected to reach four million metric tonnes by 2030,…
Read MoreSouth-east Asia set to export surplus biofuels to Europe, Petronas executive says
[SINGAPORE] South-east Asia is positioned to export biofuels to other markets such as Europe as production capacity exceeds demand in the region, a senior executive with Malaysian state oil and gas company Petronas said on Wednesday. Annual sustainable aviation fuel capacity in Asia is projected to reach 4 million metric tons by 2030, Ahmad Adly…
Read MoreOpec+ casts shadow on Singapore’s glitzy oil bash as surplus looms
Group agrees in principle to raise output again next month, according to delegates, with key members saying they expect to approve adding about 137,000 barrels AN EXPECTED move by the world’s top oil-producing nations to once again increase output will set the tone for Asia’s biggest gathering of oil executives this week in Singapore, with…
Read MoreOpec’s new supply shock nails on oil market’s return to surplus
[NEW YORK] The latest oil supply shockwave unleashed by Organization of the Petroleum Exporting Countries and its partners (Opec+) is set to swell a surplus later this year, pressuring prices for producers the world over while answering US President Donald Trump’s calls for lower fuel costs. Opec and its allies have reason to believe the…
Read MoreDBS, UOB, OCBC return surplus capital with over S$700 million of buybacks
[SINGAPORE] In the first five months of 2025, 63 primary-listed Singapore companies conducted share buybacks through open market acquisitions, spending a total of S$930 million – an 84% jump from S$505 million in the same period last year. This was the highest buyback level for the first five months of a year since 2020, based…
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