10022016Sun
Last update: Sun, 02 Oct 2016 03am

Markets - Energy

Markets - Energy - Asia

Oil dips in Asia as Algiers meeting looms SINGAPORE: Oil prices edged down in Asia Tuesday amid continued speculation over whether producers will agree to limit output at talks in Algeria this week, analysts said.Members of the Organization of the Petroleum Exporting Countries will meet Wednesday with key non-OPEC producer Russia on the sidelines of the International Energy Forum in Algiers.They are expected to discuss ways to stabilise prices that have been depressed since 2014 amid a stubborn supply glut, with hopes producers might agree a production cap.But while most oil producer states have been supportive of a cap, pre-forum talks between OPEC kingpin Saudi Arabia and Iran have been less productive, with neither side willing to give in. The UAE has meanwhile said it supports a deal to freeze output if other nations agree but that production cuts are not up for discussion, according to Bloomberg News, which also reported that Nigeria backs reaching deal.At about 0330 ...

Markets - Energy - Europe

Oil prices rally before Algiers meeting LONDON: Oil prices jumped around 3.0 percent in value Monday as the dollar weakened before a meeting of crude producing nations in Algeria to discuss a stubborn supply glut.Against a backdrop of depressed prices despite Monday's rally, members of the Organization of the Petroleum Exporting Countries are meeting this week with key non-OPEC producer Russia on the sidelines of the International Energy Forum in Algiers.Pre-forum talks last week between OPEC kingpin Saudi Arabia and fellow ...

Markets - Energy - Americas

Uruguay's state-run ANCAP seeks 10,000 tons of petroleum coke HOUSTON: Uruguay's state-run oil company ANCAP has launched a tender to buy up to 10,000 metric tons of petroleum coke for delivery from November to December at Montevideo port, according to a document seen by Reuters on Monday.Bids for this tender will be received until Sep. 27. The petroleum coke can be discharged from a single tanker before Nov. 5.It can also be transported in several cargoes of 2,000 metric tons each for delivery from ...

Markets - Energy - Americas

Colombia's Ecopetrol to buy gasoline for Oct delivery HOUSTON: Colombia's state-run oil firm Ecopetrol is offering to buy 285,000 to 295,000 barrels of gasoline RON 92 for delivery in the second half of October at Pozos Colorados and Barranquilla ports, according to a tender seen by Reuters on Monday. The company and its Cartagena refinery last month bought a gasoline cargo and sold two cargoes of virgin naphtha on the open market. Bids for this tender will be accepted until Sept. 28, indexed ...

Markets - Energy - Americas

Oil ends up 3pc as OPEC meets; volatility hits post-Doha high NEW YORK/LONDON: Oil settled up 3 percent on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed. The Organization of the Petroleum Exporting Countries and other oil producers led by Russia are meeting informally on the sidelines of the International Energy Forum in Algeria from Sept. 26-28 to ...

Markets - Energy - Europe

Europe Distillates-Diesel diffs strengthen on tighter supplies LONDON: Diesel barge differentials in northwest Europe strengthened on Monday as supplies in the region tightened due to refinery maintenance and lower imports. Low water levels along the Rhine River continued to limit barge loading, which were at around 50 percent of capacity, pushing freight rates higher, according to barge tanker brokerage Riverlake. Demand in the cargo market was limited. The 120,000 tonne tanker San Jacinto which was heading to Gibraltar via the Cape of ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks slide on higher crude, thin demand LONDON: Gasoline refining margins in northwest Europe fell sharply on Monday to just over $9 a barrel as crude gained over 3 percent and demand in the ARA hub waned. New tanker bookings to the US Atlantic Coast slowed down following the resumption last week of the Colonial Pipeline. But shipping reports showed bookings of the motor fuel from northwest Europe to west Africa picked up last week. Traders said a recovery in Nigerian crude ...