06292016Wed
Last update: Wed, 29 Jun 2016 02pm

Markets - Energy

Markets - Energy - Asia

China's end-May diesel stocks fall 5.4pc on mth, gasoline supplies rise BEIJING: China's commercial crude oil stocks at the end of May rose 0.9 percent from the previous month and refined fuel stocks eased 1.7 percent from April, the official Xinhua News Agency reported on Friday.Diesel recorded a drop of 5.4 percent from the previous month, reflecting upbeat diesel demand due to harvesting and cultivation of crops, as well as record high exports, reported China Oil, Gas & Petrochemicals (OGP), a newsletter published by Xinhua.Gasoline supply, however, rose 1.4 percent in May to the highest level since at least January 2007, the data showed, but the growth rate eased from April's 10.8 percent. Kerosene also gained 5.9 percent to the highest since at least January 2010, the earliest that Reuters holds kerosene inventory data.In May, China's refinery crude throughput fall 0.1 percent from a year earlier at 44.23 million tonnes, the country's statistics bureau said in a statement.The following table shows ...

Markets - Energy - Asia

Middle East Crude-Benchmarks gain for 2nd session despite Brexit SINGAPORE: The Middle East crude benchmarks gained for a second session on Friday, supported by demand from Shell, even as global prices were roiled by Britain's vote to leave the European Union.Oil prices slumped by more than 6 percent as the Brexit vote raised fears of a broader economic slowdown that could reduce demand for oil.Shell purchased four August Dubai partials from Reliance, Chinaoil and SK Energy at $45.35-$45.40 a barrel, traders said. The trades ...

Markets - Energy - Europe

Russia expects short-term oil market volatility after Brexit MOSCOW: Russian Energy Ministry expects oil price volatility to increase in the short term after Britain's vote in favor of leaving the European Union, RIA news agency quoted Russian First Deputy Energy Minister Alexei Texler as saying on Friday. "Combined with other (negative) factors, a fall in oil prices may be significant," he said. Texler added he saw no need for large oil producers to take any actions due to Brexit. Copyright Reuters, 2016

Markets - Energy - Asia

Asia-Pacific Crude-Weak margins depress light grades SINGAPORE: Light sweet grades and condensate in the Asia-Pacific crude market weakened on Friday, dragged down by soft margins for light distillate products.Oil Search has sold two of its Kutubu cargoes loading in August to BP at $1-$1.50 a barrel above dated Brent, a trader said. The deal, which could not be independently verified, would point to a drop in the light sweet crude's value.Woodside was heard to have lowered its offer for August-loading North ...

Markets - Energy - Europe

Oil prices dive as Britain votes to leave EU LONDON: Oil prices slumped by more than 6 percent on Friday after Britain voted to leave the European Union, raising fears of a broader economic slowdown that could reduce demand.Financial markets have been worried for months about what Brexit, or a British exit from the European Union, would mean for Europe's future, but were clearly not fully factoring in the risk of a leave vote. British Prime Minister David Cameron, who campaigned to remain in ...

Markets - Energy - Europe

North Sea Crude-Forties rises, first time in two weeks LONDON: North Sea Forties crude price differentials rose on Thursday for the first time in two weeks, after higher bids materalised late in an otherwise weak market, traders said. Traders said physical barrels were nonetheless struggling to find buyers as differentials were still perceived to be too high, despite falling to 2016 lows in the case of Ekofisk and near-two month lows for Forties. Reuters shipping data showed Total's shipping arm now has the VLCC ...

Markets - Energy - Americas

Oil up in choppy trade ahead of Britain's EU vote NEW YORK: Oil prices rose in volatile trade on Thursday, with investors less worried about prospects for the global economy after the last pre-vote opinion polls showed Britain was likely to remain in the European Union. Oil prices were also supported by market intelligence firm Genscape's report of a drawdown of nearly 1 million barrels at the Cushing, Oklahoma storage base for US crude futures during the week to June 21, traders who saw the ...