12052016Mon
Last update: Mon, 05 Dec 2016 07pm

Markets - Energy

Markets - Energy - Europe

North Sea Crude-Brent rises to highest since mid-Oct LONDON: North Sea crude oil differentials edged higher on Monday, led by gains in Brent, which changed hands at its strongest in over a month after brisk trade in the daily trading window. The loading programmes for January are due out later this week. The December BFOE programme was one of the largest so far this year, adding to the weakness in North Sea differentials that has persisted through the last month. An overhang of crude stored on ships has contributed to the underlying weakness. Reuters data shows at least six aframaxes, each capable of holding some 750,000 barrels of oil, and two suezmaxes, able to hold around 1 million barrels. Copyright Reuters, 2016

Markets - Energy - Americas

Med Crude-Urals diffs rise on expected drop in Baltic loadings MOSCOW: Urals crude differentials to dated Brent rose further on Monday in a spot tender, supported by healthy demand and limited supply of the grade in the second half of December, traders said. Oil loadings from the Baltic Sea ports for the Dec. 13-31 period will fall to 4 million tonnes, against the 4.4 million tonnes expected for Nov. 13-30, the final loading plan showed on Friday.In northwest Europe, BP bid for 100,000 tonnes of ...

Markets - Energy - Americas

GLOBAL MARKETS-Oil rallies in choppy trade; dollar, stocks dip NEW YORK: Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the US dollar recovered from earlier losses but was still slightly lower.The dollar index dipped 0.08 percent after having fallen as much as 0.8 percent. The US currency sank as much as 1.6 percent against the yen, going as low as 111.32 yen before recovering to 112.3. Most analysts said ...

Markets - Energy - Europe

Gazprom gets greater access to Germany's Opal gas pipeline FRANKFURT: Germany's energy regulator and Gazprom have agreed terms of a deal giving the subsidiaries of the Russian group greater access to the Opal gas pipeline, which the European Union approved a month ago. The Opal transport company is owned by Gazprom and German chemical firm BASF. The EU lifted a limit on Gazprom's use of the infrastructure, which takes gas from the subsea Nord Stream pipeline into central Europe, paving the way for Russia ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks rise, but outlook weakens LONDON: Diesel refining margins in northwest Europe rose on Monday amid volatile crude trading, but expected higher imports into the region weighed on the outlook. The arbitrage from the US Gulf Coast remained closed as demand from Latin America remained strong, traders said. Imports from the Middle East and Asia were also low but were expected to sharply increase in the coming weeks as refiners in the Middle East complete maintenance. Around 15 tankers have ...

Markets - Energy - Americas

Venezuela 'optimistic' ahead of OPEC output cut talks ALGIERS: Venezuelan Oil Minister Eulogio del Pino said Monday he was "optimistic" that an OPEC meeting this week in Vienna will reach agreement on oil production cuts to boost prices."I am optimistic" ahead of "this very important meeting", he said, quoted by the Algerian news agency APS, on his arrival in Algiers where he met his counterpart Noureddine Boutarfa.The two ministers were to travel on to Moscow before Wednesday's meeting in Vienna on a mission ...

Markets - Energy - Americas

Uncertainty ahead of crucial OPEC meeting VIENNA: Mixed signals from OPEC ministers caused fresh volatility on oil markets Monday ahead of a meeting in Vienna meant to nail down a deal reducing the cartel's output by up to a million barrels per day.Saudi Arabia's energy minister appeared to suggest on Sunday that Riyadh could live with OPEC failing to agree its first cut in output in eight years, saying recovering demand would "stabilise" prices next year anyway."We don't have a single ...