07262016Tue
Last update: Tue, 26 Jul 2016 05am

Europe

Markets - Energy - Europe

Iraq oil exports set to rise in July, despite leak LONDON: Iraq's oil exports are set to rise in July, according to loading data and an industry source, putting supply growth from OPEC's second-largest producer back on track after after two months of declines.Iraq in 2015 provided OPEC's biggest rise in supply. The growth has slowed this year due to maintenance and technical problems, and Iraqi officials say seasonally higher domestic use has curbed volumes available for export.Exports from southern Iraq in the first 21 days of July have averaged 3.28 million barrels per day (bpd), according to loading data tracked by Reuters and an industry source. That would be up from 3.18 million bpd in June.The increase comes despite a pipeline leak that shipping and trade sources said prompted a brief suspension of loadings at two of the southern terminals. The Iraqi oil ministry said on July 11 the leak was repaired."I think they had only a small dip ...

Markets - Energy - Europe

Med crude-Urals stronger on healthy demand, CPC Blend back to premium MOSCOW: Urals crude price differentials continued to strengthen on Wednesday on keen buying interest for August-loading cargoes and a quite tight loading plan for early that month. The schedule for the first 10 days of August was released on Wednesday showing a decrease in Novorossiysk loading compared to the same period in July by 275.000 tonnes, but exports from Baltic ports were 100.000 tonnes longer than in July. The latest version of Urals preliminary loading ...

Markets - Energy - Europe

North Sea Crude-Forties rises, sea storage offers dampen gains LONDON: Forties differentials rose on Wednesday due to higher bidding from Vitol, although offers of cargoes from floating storage kept the gains in check. Total again offered for sale Forties cargoes from the VLCC Orthis, which is anchored off the eastern English coast, without selling any of them. There are at least two other VLCCs of Forties parked off the UK coast, according to Reuters shipping data. Ekofisk was the lowest priced benchmark grade and ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks weaken after new US stock build LONDON: Gasoline refining margins in northwest Europe declined on Wednesday after a further build in US inventories increased concerns over already high supplies. Demand remained overall weak. Exports to the United States in July are so far expected to reach around 1 million tonnes. US gasoline stocks rose last week by 911,000 barrels, compared with the Reuters poll forecast for no change, according to EIA data. Gasoline stocks in the US East Coast (PADD 1) ...

Markets - Energy - Europe

Oil prices rebound on US data LONDON: Oil prices on Wednesday recovered from two-month lows, as traders reacted to a drop in crude inventories in the United States.The US Department of Energy reported that crude stockpiles dropped by 2.3 million barrels last week, offsetting a surprise rise in gasoline inventories during the peak demand season for American motor fuel.Around 1630 GMT, Brent North Sea crude for delivery in September was up 67 cents at $47.33 a barrel.US benchmark West Texas Intermediate ...