06302016Thu
Last update: Thu, 30 Jun 2016 02am

Markets - Energy

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 - Americas

Shell JV Deer Park refinery preps Sept-Oct FCCU work HOUSTON: Royal Dutch Shell Plc's 285,500 barrel per day (bpd) joint-venture Deer Park, Texas refinery is preparing for an overhaul in September and October of the gasoline-producing fluidic catalytic cracking unit, sources familiar with the refinery's plans said on Wednesday. In addition to the 70,000 bpd FCCU, the overhaul will also include the Gerbitol unit, which reduces air pollution, and one other unit, the sources said. The work is expected to take at least six ...

Markets - Energy - Asia

Asia Distillates-Gasoil holds steady; high volume of cash deals done SINGAPORE: Asia's gasoil benchmark 500ppm grade cash differential to Singapore quotes extended gains to reach a premium of 21 cents a barrel, supported by brisk cash deals.A total of 750,000 barrels of gasoil had changed hands, bringing the total volume traded between June 1 and 29 to about 6.3 million barrels compared with 3.9 million barrels for the whole of May.The deals were done in premiums of 20 to 30 cents to Singapore quotes for ...

Markets - Energy - Americas

Oil edges up further as Brexit shock fades; US drawdown seen NEW YORK: Oil prices rose for the second straight day on Wednesday as concerns over Britain's exit from the European Union faded and impending data was expected to show a sixth weekly draw in US crude stockpiles. A potential oil workers strike in Norway and a crisis in Venezuela's energy sector also provided support to crude futures. The US Energy Information Administration will release weekly oil supply-demand data at 10:30 a.m. EDT (1430 GMT). The ...

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

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 ...