07242016Sun
Last update: Sun, 24 Jul 2016 03pm

Markets - Energy

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline crack firms on west African demand LONDON: Gasoline margins firmed slightly on the back of some west African demand but market oversupplied continued in the United States and Asia, with traders expecting European refiners to start cutting runs. "The situation in the Atlantic basin is dire, but in Asia, it is far worse. Lower octane gasoline has slumped to near parity with Brent crude in Singapore amid a glut of exports from China, and a slowdown in imports by Indonesia. Refiners are now sending higher quality blending components to the US West Coast due to the poor state of the Asian market," Energy Aspects describing the glut said in a note. The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were no disruptions through Istanbul's vital Bosphorus Strait. An Iranian crude cargo loaded by trading house Trafigura ...

Markets - Energy - Middle East & Africa

Algeria boosts oil output at two major fields, official says HASSI MESSAOUD: Algeria has boosted output at two major oil fields, including the giant Hassi Messaoud field, an official at state energy firm Sonatrach said on Monday. Production at Hassi Messaoud, 800 km (500 miles) southeast of the capital Algiers, has risen to 470,000 barrels from 420,000 barrels a few months ago, the Sonatrach source told Reuters on the sidelines of a conference. Output at Ourhoud oil field, around 1,100 km southeast of Algiers, has ...

Markets - Energy - Europe

Russia's Gazprom says easier to deal with Britain outside EU MOSCOW: Russian gas giant Gazprom will find it easier to do business with Britain if the nation leaves the European Union, its chairman, Viktor Zubkov, said on Monday. "The EU standards, the Third Energy Package ... I think it just would be easier for us to work with Great Britain," he told Russia-24 TV channel answering a question on Brexit. Copyright Reuters, 2016

Markets - Energy - Americas

Oil down over 1pc amid rise in crude and fuel supplies NEW YORK: Oil prices settled down more than 1 percent on Monday after rising stockpiles of crude and refined fuel intensified fears another major glut was building up. Market intelligence firm Genscape reported that the Cushing, Oklahoma delivery hub for US crude futures saw a supply build of 26,460 barrels in the week to July 15, traders who saw the data said. Morgan Stanley said it still expected a supply-demand rebalancing in oil by mid-2017 ...

Markets - Energy - Americas

Oil prices slide amid rise in crude, fuel supplies NEW YORK: Oil prices fell more than 1 percent on Monday as rising stockpiles of crude and refined fuel intensified fears of another major glut building.Market intelligence firm Genscape reported that the Cushing, Oklahoma delivery hub for U.S. crude futures saw a supply build of 26,460 barrels in the week to July 15, traders who saw the data said.Morgan Stanley said in a report that demand for fuels such as diesel and gasoline were lagging ...

Markets - Energy - Europe

Oil market drifts lower LONDON: World oil prices dampened Monday on fading supply concerns following a failed coup in Turkey over the weekend.At about 1200 GMT, Brent North Sea crude for September delivery was down 21 cents at $47.40 a barrel.US benchmark West Texas Intermediate for delivery in August shed 24 cents to $45.71 a barrel compared with Friday's close."Brent climbed... late on Friday following the military coup in Turkey," said Commerzbank analyst Carsten Fritsch."Prices shed their gains again ...

Markets - Energy - Europe

Oil prices largely unchanged as market shrugs off Turkey coup bid LONDON: Oil prices were largely unchanged on Monday as traders shrugged off the impact of the attempted coup in Turkey, while disruptions to crude exports in Libya and upbeat U.S. economic data lent prices some support.Brent crude futures rose 2 cents to $47.63 a barrel by 0924 GMT, while U.S. crude futures eased by 4 cents to $45.91 a barrel."The market is looking past the coup," said Ric Spooner, chief market analyst at Sydney's CMC ...