01162017Mon
Last update: Mon, 16 Jan 2017 05pm

Markets - Energy

Markets - Energy - Europe

Gazprom says halts Ukraine gas deliveries over Kiev non-payment MOSCOW: Russian state giant Gazprom on Wednesday said it had halted gas deliveries to Ukraine after Kiev failed to make upfront payments for more supplies.Gazprom chief Alexei Miller said that as of 0700 GMT Ukraine's Naftogaz had used up all the gas it had paid for and "no new upfront payment has been made"."As such, deliveries have been stopped until the receipt of new payments from the Ukrainian company," Miller said in a statement."The refusal to buy Russian gas will create serious risks for the reliable transit of gas to Europe through Ukraine and for the supply of gas to Ukrainian consumers during the upcoming winter," Miller warned. Russia and Ukraine -- locked in a bitter feud since Moscow's annexation of Crimea in March 2014 -- have been involved in a festering gas pricing dispute that has seen supplies repeatedly cut off. Moscow turned the taps back on in October ...

Markets - Energy - Asia

Oil prices turn higher as diplomats seek to ease Middle East tensions SINGAPORE: Oil prices turned higher in Asia Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey's shooting down of a Russian fighter jet on the Syrian border.But the global crude supply glut capped gains ahead of a US Department of Energy report expected to show another build in commercial crude stockpiles, indicating slower demand in the world's top oil consuming nation.Prices had surged Tuesday following the plane shooting which analysts warned could further ...

Markets - Energy - Asia

Oil prices down on diplomatic efforts to ease Middle East tensions SINGAPORE: Oil prices fell in Asia Wednesday as diplomats tried to ease geopolitical tensions sparked by Turkey's shooting down of a Russian fighter jet on the Syrian border.Prices had surged Tuesday following the incident which analysts warned could further heighten tensions among key powers involved in the Syrian conflict and affect crude supplies from the oil-producing Middle East.The rally was cut short amid a flurry of diplomatic effort to appease a furious Russian President Vladimir ...

Markets - Energy - Europe

Oil climbs as Turkey shoots down Russian jet LONDON: Global oil prices rose Tuesday after Turkey shot down a Russian jet on the Syria border, sparking fresh tensions in the crude-rich Middle East, dealers said.At about 1200 GMT, US benchmark West Texas Intermediate for delivery in January added 38 cents at $42.13 a barrel.Brent North Sea crude for January rebounded 68 cents to $45.51 a barrel, compared with Monday's closing level."Commodities have bounced back with oil trading higher with rising geopolitical tensions in ...

Markets - Energy - Asia

Asia-Pacific Crude-Strong refining margins support SINGAPORE: Robust refinery demand continued to support the Asia-Pacific crude market while high freight rates curbed supply of crude from other regions.Regional light grades have benefited from strong naphtha cracks this month with complex refining margins in the Singapore hub having hovered above $9 a barrel in the past week, up from an average of below $7 a barrel last month.The spike in refining margins was in part due to higher demand for oil products ...

Markets - Energy - Europe

UK GAS-Prompt prices nudge higher as outages curb supply LONDON: British prompt gas prices rose on Tuesday morning, shrugging off warmer weather as lower imports from Norway curbed supply.Gas for within-day delivery fetched 37.60 pence per therm at 0916 GMT, up 0.05 pence since the last settlement.Gas for delivery on Wednesday rose 0.10 pence to 37.50 pence per therm. .An unplanned outage at Norway's Kvitebjorn gas field cut output by 21.2 million cubic metres (mcm) a day on Tuesday, operator Gassco said in a ...

Markets - Energy - Asia

Middle East Crude-Naphtha cracks underpin refinery demand  SINGAPORE: The Middle East crude market was underpinned by strong demand as refiners benefited from low oil prices and high naphtha cracks to secure cargoes.Bahrain's BAPCO may have sold a cargo of Banoco Arab Medium in a tender to an unknown buyer at between flat and 5 cents a barrel above its official selling price (OSP), traders said.The grade recovered in line with other medium grades after being traded at 5-9 cents a barrel discount ...