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Europe Gasoline/Naphtha: Gasoline slips, but late summer fixtures possible LONDON: European gasoline barge prices slipped on Tuesday, following Brent crude futures down, but this raised hopes that shipments to the United States could revive before the summer driving season comes to an end.Very few gasoline cargoes have been booked over the last few days, with some market participants taking the view that US seasonal demand is beginning to slacken off, while arbitrage economics have been unhelpful.Loading and discharging delays at terminals in the Amsterdam-Rotterdam-Antwerp hub have also deterred some traders from fixing cargoes, a broker said.However, weaker prices in Europe and firmer US RBOB gasoline futures should make the arbitrage more workable."We're more competitive and I think our export economics have improved," one Europe-based trader said.RBOB rallied on Monday after a CDU malfunctioned at BP's Whiting, Indiana refinery. A restart is expected around Aug. 19-22.Water levels along the river Rhine and Danube remain below the depth at which barges ...
Oil prices drop on China currency move LONDON: Oil prices fell Tuesday, mirroring sentiment across commodity markets, after China devalued its currency to help boost its economic growth. Crude prices had already been falling in recent weeks owing to a global supply glut despite forecasts of demand growth. US benchmark West Texas Intermediate for September delivery fell 83 cents to $44.13 a barrel compared with Monday's close. Brent North Sea crude for September dropped 66 cents to stand at $49.75 a barrel ...
Oil prices dip at end of turbulent week LONDON: Oil prices eased on Friday at the end of a week in which they hit multi-month lows, extending a prolonged losing run caused by a global supply glut.US benchmark West Texas Intermediate (WTI) for delivery in September dipped three cents to $44.63 a barrel compared with Thursday's close.Brent North Sea crude for September shed 30 cents to stand at $49.22 a barrel in London afternoon deals.A glut of crude oil supply is seen as ...
Brent oil hits six-month low after Chinese trade data LONDON: Crude oil futures touched multi-month lows on Monday after a weekend of mixed data from China showing higher oil imports in July but weaker trade figures overall, hurting sentiment across the commodities markets.Brent was down 19 cents at $48.42 a barrel at 0854 GMT, after touching $48.24 earlier in the session, the lowest in over six months.US crude was down 18 cents at $43.69 after hitting an intraday low of $43.35 in Asian trading. ...
Oil prices rise before US stockpiles report LONDON: Oil prices rose Wednesday as dealers predicted that the latest US crude stockpiles and production data will point towards upbeat demand in the world's top crude consumer, analysts said. US benchmark West Texas Intermediate for September delivery gained 29 cents to $46.03 a barrel compared with Tuesday's close.Brent North Sea crude for September was up 41 cents to $50.40 around midday in London.Prices had skidded for three consecutive sessions before rising modestly on Tuesday ...

 





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