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

Europe

Markets - Energy - Europe

Med Crude-Urals extend gains in the Med, Baltic crude loadings set to rise MOSCOW: Urals crude differentials extended gains in the Mediterranean amid strong buying interest from Litasco and attractive refinery margins, while Baltic Sea crude supplies in July were set to rise by 0.2 million tonnes to 6.6 million tonnes, traders said. Surgutneftegas and trader Flontrano each obtained a Urals crude loading slot in Primorsk of 100,000 tonnes, on July 18-19 and 25-26 respectively, in addition to the final loading plan. Surgutneftegaz will sell an extra cargo via tender, while Flontrano was acting for trader Glencore, according to traders. Surgut could decide to divert 100,000 tonnes of Urals from Belarus, traders said, because they expect more changes to the loading plan for the Russian ports as the gas price dispute between Moscow and Minsk has not been solved.Russia has cut allocations of crude oil exports to Belarus for July-September by 40 percent from April-June amid a stand-off over Russian natural gas supplies. ...

Markets - Energy - Europe

Statoil nabs 10pc of WAfrican oil route to China's teapots LONDON: Norway's Statoil has claimed 10 percent of the highly coveted oil trade route between west Africa and China's small 'teapot' refineries, its head of trading said, suggesting its gamble to offer directly to China's newest importers has paid off.China's block of independent 'teapot' refiners became one of the most sought-after targets of oil exporters after the Chinese government late last year allowed them to import crude oil. Statoil was one of the first players ...

Markets - Energy - Europe

Oil prices rise after Brexit shock; Norway strike threat supports LONDON: Oil rose on Wednesday as traders poured money back into markets hit by the initial shock of Britain's vote to leave the European Union while a potential oil workers strike in Norway and a crisis in Venezuela also provided support.Brent crude futures were up 49 cents at $49.07 per barrel at 1017 GMT. U.S. crude was had climbed 57 cents to $48.42 a barrel.Both benchmarks gained on Tuesday after markets shook off some of ...

Markets - Energy - Europe

Oil prices recover with global markets LONDON: Oil prices extended gains on Wednesday, tracking a recovery in equity markets as leaders look to temper fears over the effects of Britain's shock EU exit and traders bet on a fall in US stocks.Around 1000 GMT, the London benchmark Brent crude added 46 cents to $49.04 and US benchmark West Texas Intermediate rose 57 cents to $48.42. "Oil markets mirrored the rebound on stock markets as fundamentals came back into focus," said analysts ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline crack weakens as glut lingers LONDON: Gasoline margins continued to decline on the back of firming crude prices and an on-going glut. The recent sharp fall in Venezuela's refining output is also unlikely to mop up the oversupply in Europe as additional demand is expected to be met by products from the US Gulf. Processing at the 955,000-barrel-per-day Paraguana Refining Center (CRP) dropped to some 260,000 bpd, union leader and PDVSA critic Ivan Freites said on Monday, contributing to a ...