08282016Sun
Last update: Sun, 28 Aug 2016 01pm

Europe

Markets - Energy - Europe

W. Africa Crude-Angola's Oct exports to drop, IOC tenders to buy LONDON: Angola's oil exports are set to hit a 10-year low of 1.43 million barrels per day (bpd) in October, according to a provisional loading programme and Reuters data, as Dalia cargoes were missing due to planned maintenance. Nigeria's Energy Minister Emmanuel Ibe Kachikwu said in an interview published on his Twitter account that oil production had averaged at around 1.5 million barrels per day (bpd) in 2016, the government was putting "a lot of energy" into talks with militants who have attacked its energy infrastructure. Brent's premium over US crude for December delivery widened by the most in eight months on Monday as traders anticipated a pick up in imports later this year due to the start of a major US crude pipeline. The widening, driven in part by expectations that East and West Coast refiners would import more barrels from overseas later this year, could in the near ...

Markets - Energy - Europe

Oil prices extend gains LONDON: Oil prices rose Tuesday extending the previous session's gains, as markets assess the likelihood of producers reaching a deal to limit output.Around 1230 GMT, Brent North Sea crude for delivery in October was up 33 cents at $48.68 a barrel.US benchmark West Texas Intermediate for September delivery gained 28 cents to $46.02 compared with Monday's close.Traders are speculating on whether Saudi Arabia and other major oil producing nations will reach an agreement at a ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks surge on concerns over US supplies LONDON: Benchmark diesel refining margins in northwest Europe rose on Monday to a one-month high after floods that hit southern United States and unplanned refinery outages there tightened the supply outlook. Traders said that concerns that heavy rains and flooding that has battered the southern US state of Louisiana could impact diesel production. The arbitrage from the major US Gulf Coast refining hub to Europe has significantly slowed in recent weeks due to strong demand ...

Markets - Energy - Europe

Oil trades at fresh August high on hopes producer action LONDON: Oil prices reached their highest levels in more than five weeks on Tuesday as the market rode optimism over potential producer action to prop up the market.Oil production losses in Nigeria, where more than 700,000 barrels per day (bpd) was missing due to militant attacks and pipeline problems, were also helping to support prices in the Atlantic Basin.Brent crude futures hit a high of $48.74 per barrel, their highest since July 7, in morning ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline slides as crude hits 5-week high LONDON: Gasoline refining margins in northwest Europe fell sharply to below $7 a barrel on Monday as crude prices jumped, while steady exports to the US and west Africa capped losses. Oil rallied to a five-week high as speculation intensified over potential producer action to support prices amid a crude glut. Overseas demand, particularly from West Africa, in recent days has helped give cracks in Europe a floor. Philadelphia Energy Solutions was planning to restart ...