02132016Sat
Last update: Sat, 13 Feb 2016 03am

Markets - Energy

Markets - Energy - Americas

US Gulf Coast crude, gasoline stocks jump to highest on record NEW YORK, Feb 3 (Reuters) - US Gulf Coast crude oil stocks rose to the highest level on record last week, according to data from the US Energy Information Administration on Wednesday. Gulf Coast stocks rose 3.6 million barrels to 252.9 million barrels, according to EIA records dating back to 1990. Meanwhile, US gasoline stocks also rose to the highest level on record, rising 5.9 million barrels to 254.4 million barrels. Much of that rise in the nation's main refining hub was due to Midwest gasoline stocks soaring to the highest level since 1995, EIA data showed. Copyright Reuters, 2016

Markets - Energy - Americas

Marathon Petroleum sees more sour, less light crude runs HOUSTON: Marathon Petroleum Corp expects to run less light sweet crude and more sour because heavy and sour crudes are showing wider discounts to light crudes, an executive told analysts on Wednesday. "We're seeing very good values on the sour side of the barrel. You'll probably see less sweet runs and a shift to sour," Mike Palmer, senior vice president of supply, distribution and planning, said on a quarterly earnings call. Copyright Reuters, 2016

Markets - Energy - Europe

Oil holds firm before US inventories LONDON: World oil prices rose slightly Wednesday, after briefly slipping under $30 a barrel, as traders awaited the weekly update on energy inventories in the United States.Brent had slid below the psychological level in earlier Asian deals on expectations that US petroleum stockpiles will rise further and exacerbate the already oversaturated global market.At about 1100 GMT, US benchmark West Texas Intermediate for delivery in March stood at $30.43 a barrel, up 55 cents. It earlier ...

Markets - Energy - Europe

Russia says ready to meet key OPEC members, old price regulation tools ‘no longer working’: RIA MOSCOW: Russia is ready to meet the main oil producers within the Organisation of the Petroleum Exporting Countries (OPEC) if a consensus on such a meeting is reached with them, RIA news agency quoted Russia's foreign minister as saying on Wednesday."We consider it important to understand what is going on on the markets. The markets are being influenced by many factors, and old mechanisms are unlikely to work. I think we all understand this," Sergei ...

Markets - Energy - Europe

EU wants to see Gazprom contracts with European clients: report FRANKFURT: The EU wants to examine the contracts which Gazprom has signed with European companies, amid suspicions that the Russian state energy giant has imposed unfair prices which breach the bloc's trading rules, a German newspaper reported.Contacted on the story in Wednesday's edition of the Frankfurter Allgemeine Zeitung (FAZ) daily, which cites an internal EU document, there was no comment from Brussels.Last April the European Commission, the EU's executive arm, accused Gazprom of infringing the ...

Markets - Energy - Asia

Oil producers struggle to plug budget holes torn by price collapse PARIS: Oil producing countries are scrambling to fill gaping holes in their budgets torn by crashing petroleum prices, with some turning to international lenders for help and others slashing spending.Austerity measures, loan negotiations and state asset sales are all on the menu of moves deployed to counter the brutal nosedive in the oil price, with West Texas Intermediate currently below $30 a barrel and Brent just above -- a drop of about 70 percent since ...

Markets - Energy - Americas

Oil extends deep losses, WTI falls below $30 NEW YORK: Oil prices extended sharp losses for a second day Tuesday as traders anticipate another rise in US crude stockpiles, worsening the global glut.US benchmark West Texas Intermediate for delivery in March slid $1.74 (5.5 percent) to $29.88 a barrel on the New York Mercantile Exchange. It was the first time WTI closed below $30 since January 21.In London, Brent North Sea crude for April fell to $32.72 a barrel, down $1.52 (4.4 percent) ...