07282016Thu
Last update: Thu, 28 Jul 2016 05pm

Europe

Markets - Energy - Europe

Med crude-Urals stronger on healthy demand, CPC Blend back to premium MOSCOW: Urals crude price differentials continued to strengthen on Wednesday on keen buying interest for August-loading cargoes and a quite tight loading plan for early that month. The schedule for the first 10 days of August was released on Wednesday showing a decrease in Novorossiysk loading compared to the same period in July by 275.000 tonnes, but exports from Baltic ports were 100.000 tonnes longer than in July. The latest version of Urals preliminary loading plan is available here:. Surgutneftegaz issued a tender Wednesday to sell two Urals cargoes of 100,000 tonnes each loading from Primorsk on August 9-10 and from Ust-Luga on August 6-7. The tender closes on July 21.Traders said that several August-loading Urals cargoes changed hands in northwest Europe around Brent minus $2 a barrel to BFOE, which was 5 cents stronger than the results of the latest Surgutneftegaz;s tender to sell 500.000 tonnes of Urals.In the ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks weaken after new US stock build LONDON: Gasoline refining margins in northwest Europe declined on Wednesday after a further build in US inventories increased concerns over already high supplies. Demand remained overall weak. Exports to the United States in July are so far expected to reach around 1 million tonnes. US gasoline stocks rose last week by 911,000 barrels, compared with the Reuters poll forecast for no change, according to EIA data. Gasoline stocks in the US East Coast (PADD 1) ...

Markets - Energy - Europe

Oil prices rebound on US data LONDON: Oil prices on Wednesday recovered from two-month lows, as traders reacted to a drop in crude inventories in the United States.The US Department of Energy reported that crude stockpiles dropped by 2.3 million barrels last week, offsetting a surprise rise in gasoline inventories during the peak demand season for American motor fuel.Around 1630 GMT, Brent North Sea crude for delivery in September was up 67 cents at $47.33 a barrel.US benchmark West Texas Intermediate ...

Markets - Energy - Europe

North Sea Crude-Forties rises, sea storage offers dampen gains LONDON: Forties differentials rose on Wednesday due to higher bidding from Vitol, although offers of cargoes from floating storage kept the gains in check. Total again offered for sale Forties cargoes from the VLCC Orthis, which is anchored off the eastern English coast, without selling any of them. There are at least two other VLCCs of Forties parked off the UK coast, according to Reuters shipping data. Ekofisk was the lowest priced benchmark grade and ...

Markets - Energy - Europe

Brent oil edges up in subdued trade before US stocks data LONDON: Brent oil prices edged higher on Wednesday in muted trading as investors awaited a clearer signal from weekly U.S. crude inventory data on whether a glut was easing in the world's largest oil-consuming nation.Global benchmark Brent crude prices were up 5 cents at $46.71 a barrel at 1225 GMT. On Tuesday, the contract settled down 30 cents, or 0.6 percent.In thin trading, U.S. West Texas Intermediate (WTI) crude was down 13 cents at $44.52 ...