Oil

Oil

Mega-refiner buying oil a bright spot for constrained market

A Chinese mega-refiner is snapping up barrels of Middle Eastern crude in a rare bright spot for a market hampered by dwindling import quotas after a buying spree earlier in the year.

Oil

Oil extends losses after Trump tests positive for Covid-19

Oil prices extended losses to about 3% on Friday after U.S. President Donald Trump said he has tested positive for COVID-19, while agrrement on a U.S.

Oil

Hurricane impact and falling US stockpiles drives oil prices up 4%

Oil prices jumped more than 4% on Wednesday, following a drawdown in U.S. crude and gasoline inventories and as Hurricane Sally forced a swath of U.S. offshore production to shut.

Oil

Banks affected by Hin Leong hit snag to tap $2 bil in Lim assets

Efforts by banks including HSBC Holdings Plc and ABN Amro Bank NV to recover US$3.5 billion ($4.76 billion) from a collapsed oil trader in Singapore have hit a snag over attempts by a court-appoint

Oil

Oil rises to five-month high on signals of economic recovery

Oil jumped to a five-month high alongside a surge in US equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to follow.

Oil

Oil prices advance as China lines up boost in US crude imports

Oil prices climbed higher on Monday, lifted by China’s plans to ship in large volumes of US crude in August and September, outweighing concerns over a slowdown in demand recovery after the coronavi

Oil

Hin Leong founder OK Lim charged with abetting forgery for cheating, given court bail of $3 mil

Oil tycoon Lim Oon Kuin (also known as O.K. Lim), who is also the founder of Hin Leong Trading, was charged in court on August 14 with the abetment of forgery for the purpose of cheating.

Oil

Oil edges lower on oversupply concerns as OPEC+ set to raise output

Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases world

Oil

SocGen shuts trade commodity finance unit in Singapore after Hin Leong collapse

Societe Generale SA is closing its trade commodity finance unit in Singapore after the collapse of Hin Leong Trading (Pte) Ltd.

Oil

BP Singapore oil traders placed on leave amid disputed deals

(20 July): BP Plc has placed some personnel from its Singapore-based crude oil team on leave after they were mentioned in court documents filed in disputes between banks and other trading houses, s

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