08302016Tue
Last update: Tue, 30 Aug 2016 02pm

Europe

Markets - Energy - Europe

Med crude-Urals exports set to rise in September, diffs steady MOSCOW: Urals differentials were unchanged in thin trade as traders expect prices to weaken further later this week as a preliminary loading plan for September released on Wednesday showed a rise in exports from August. The Urals and Siberian light preliminary loading plan for September showed an increase in exports by 6.8 percent to 9.35 million tonnes of Russian crude. Exports from Baltic ports are set to decrease by 300,000 tonnes compared to current month to 6.5 million tonnes.The loading plan from Primorsk is set at 4 million tonnes, 600,000 tonnes down from August, while exports from Ust-Luga will rise by 300,000 tonnes to 2.5 million tonnes. The Urals and Siberian light preliminary loading plan from Novorossiisk showed exports rising by 600,000 tonnes to 2.85 million tonnes.The provisional loading schedule includes 410,000 tonnes of Siberian light crude, unchanged from August. Traders expect Urals differentials in the Mediterranean to drop soon ...

Markets - Energy - Europe

Oil prices drop as market tracks US supplies LONDON: Oil prices fell Wednesday, with Brent stuck below $50, after data showed an increase in US crude stockpiles, adding to supply glut concerns.Data from the American Petroleum Institute (API) Tuesday showed US crude inventories rose by 4.5 million barrels last week.Rising stocks indicate weaker demand in the world's top oil consuming nation and add to worries about a global crude supply glut.A similar decline when the US energy department releases official data on commercial ...

Markets - Energy - Europe

US oil falls 2pc on surprise build in crude stocks LONDON: US oil prices fell more than 2 percent on Wednesday on an unexpected increase in US crude stocks that revived worries about the supply glut that has capped prices for the past two years.Industry data from the American Petroleum Institute (API) showed on Tuesday that US crude inventories had risen by 4.5 million barrels in the week ending Aug. 19.Analysts had expected a 455,000-barrel fall.This pushed US West Texas Intermediate (WTI) crude down more ...

Markets - Energy - Europe

Oil falls on surprise build in US crude stocks LONDON: Oil prices fell on Wednesday on an unexpected increase in U.S. crude stocks that revived worries about the supply glut that has capped prices for the past two years.Global benchmark Brent crude was down 52 cents, or one percent, at $49.44 a barrel at 1010 GMT, after touching an intraday low of $49.07.U.S. West Texas Intermediate (WTI) crude was down 80 cents, or 1.7 percent, at $47.30 a barrel. Earlier in the session, the ...

Markets - Energy - Europe

W. Africa Crude-Angolan strong, Nigerian programmes trickle out LONDON: Angolan crude differentials stayed firm on Tuesday, supported by a combination of Chinese demand, tighter supplies and cheap freight. More Nigerian loading programmes appeared for October. Output could rise if a ceasefire promised by Nigerian rebels, who have claimed attacks on oil sites, holds. ANGOLADifferentials for October-loading barrels, in early trades, have been higher than those achieved by September cargoes. Sellers are asking dated Brent minus $1.70 for Hungo and the same for Pazflor, ...