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Crimea clouds oil market outlook: IEA PARIS: The global oil market is returning to a rough balance but Russia's annexation of Crimea has clouded the outlook with both supply and demand growth to slow, the International Energy Agency said Friday.While the IEA has recently been warning of tight markets as oil demand picks up with a recovery of the global economy, it said stocks had improved and a slowdown in the Russian economy would also help relieve pressure.The IEA left its global demand forecast for 2014 roughly unchanged at 92.7 million barrels per day (mbd), and a trim to its forecast for growth in non-OPEC supplies means the global market will need more oil from the cartel later this year."One month after the events in Crimea, market watchers are taking stock of their impact on oil markets," said the Paris-based institution which analyses energy markets for the world's top oil-consuming nations."Given the still volatile nature of ...
Oil prices drop after weak Chinese data LONDON: Oil prices fell on Thursday after weak Chinese trada data, but losses were curbed by upbeat US demand and lingering doubts about the full resumption of Libyan exports, analysts said. New York's main contract West Texas Intermediate (WTI) for May delivery dipped nine cents to $103.51 a barrel.Brent North Sea crude for May slid 42 cents to stand at $107.56 a barrel in London late morning trade.Government data on Thursday showed Chinese imports slumped ...
Oil prices steady before US data LONDON: Oil prices steadied on Wednesday following a surge the day before, as traders awaited energy inventory data from the United States for demand clues regarding the world's biggest crude consumer.New York's main contract West Texas Intermediate (WTI) for delivery in May fell 16 cents to $102.40 a barrel ahead of the stockpiles figures due 1430 GMT.Brent North Sea crude for May edged up five cents to stand at $107.72.Analysts expect the US government inventories ...
Urals weakens in the Baltic, opening arb options LONDON: Russian Urals crude weakened in the Baltic on Wednesday due to a number of unsold cargoes while Kazakh CPC continued to strengthen due to a lack of sweet barrels.In the Platts window, Trafigura bought a cargo of Urals from Eni at dated Brent minus $1.30 a barrel, some 35 cents weaker than previous price estimates, traders said.Total bid for a cargo of CPC at dated Brent minus 40 cents, some 10 cents stronger than ...
Oil market rises on resurgent Ukraine tensions LONDON: Global oil prices advanced on Tuesday on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk.New York's West Texas Intermediate (WTI) for delivery in May won 77 cents to $101.21 per barrel. Brent North Sea crude for May gained 50 cents to $106.32 a barrel in late morning trade in London.NATO's chief on Tuesday warned Russia against further intervention in Ukraine, urging Moscow to "step back" after pro-Kremlin ...

 





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