Asia Pac energy stocks dip despite firmer crude prices

Energy stocks were down in Asia on Thursday despite crude oil prices holding their ground early in the session.

Oil saw minor gains in early trading in Asia having lost ground late in the prior session after an EIA report showed a rise in gasoline stocks.

The international benchmark Brent crude and US marker West Texas Intermediate were each 0.1 per cent higher at $58.20 and $52.10 a barrel, respectively.

The lift did not flow through to oil-related equities, however, with the S&P ASX Energy index down 0.5 per cent and the energy segment of Tokyo’s Topix index 0.3 per cent lower.

http://ift.tt/2yyAtqa