08242016Wed
Last update: Wed, 24 Aug 2016 09am

Markets - Energy

Markets - Energy - Europe

Med Crude-Urals lower in Baltic on expectations of hefty September exports MOSCOW: Urals crude oil price differentials in the Baltic were down on Wednesday in quiet trade ahead of spot tenders to sell September barrels from Baltic and Black Sea ports, while traders focused on prospects for hefty supplies of the grade next month. The Ust-Luga technical provisional loading plan for September showed port exports rising by 0.3 million tonnes from August to reach 2.5 million tonnes, industry sources said. To see Urals crude seaborne cargoes primary allocations in September click on: Russia's oil export duty is expected to fall 11.2 percent month-on-month to $80 per tonne in September, also stimulating higher oil exports. Russia's offline primary oil refining capacity is seen at 2.41 million tonnes in September, up from a revised 1.96 million tonnes in August, according to Energy Ministry data. Russian Prime Minister Dmitry Medvedev on Tuesday unexpectedly postponed indefinitely plans to privatise Bashneft , which had created tensions ...

Markets - Energy - Americas

Oil up as US inventory draws offset record Saudi output concerns NEW YORK: Oil prices gained modestly on Wednesday after a drawdown in US crude and gasoline stocks offset signs that Saudi Arabia was cranking production to record highs, adding to a global glut.US crude inventories fell 2.5 million barrels last week, the Energy Information Administration (EIA) announced, surprising analysts who had expected a build of 522,000 barrels.Gasoline stockpiles also fell 2.7 million barrels, more than expectations for a 1.6 million-barrel drop, the EIA data showed.US ...

Markets - Energy - Americas

US crude stocks fall unexpectedly in week: EIA NEW YORK: US crude stocks fell unexpectedly last week, while gasoline stocks decreased more than expected and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.Crude inventories fell by 2.5 million barrels in the last week, compared with analysts' expectations for an increase of 522,000 barrels.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 724,000 barrels, EIA said."While the numbers are bullish in terms of headlines and we could see crude ...

Markets - Energy - Europe

Oil prices drop before US inventory data LONDON: Oil prices fell back Wednesday after rallying in recent sessions, as attention turned to US stockpiles data for an update on levels of supplies in the world's biggest crude consumer.Around 1100 GMT, US benchmark West Texas Intermediate for delivery in September was down 43 cents at $46.15 a barrel.Brent North Sea crude for October delivery slipped 37 cents to $48.86 a barrel compared with the close on Tuesday.Prices on Tuesday closed at five-week highs, ...

Markets - Energy - Europe

Oil falls as investors assess chances of output freeze LONDON: Oil fell for the first time in a week on Wednesday, but remained in sight of six-week highs, as investors weighed up how successful potential talks among producers to rein in ballooning oversupply would be.Brent crude futures were down 55 cents at $48.68 a barrel at 0840 GMT, while U.S. West Texas Intermediate (WTI) crude was at $46.13 a barrel, down 45 cents on the day.Prices have risen by nearly 20 percent in just ...

Markets - Energy - Middle East & Africa

Iran's crude oil exports above 2.1mn bpd in July: SHANA DUBAI: Iran's crude oil exports in July were more than 2.1 million barrels per day, the oil ministry's news agency SHANA cited a senior Iranian oil official as saying on Wednesday.Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Ghamsari told SHANA the total amount of crude and gas condensate exports by Iran reached 2.740 million bpd in July. He said 600,000 bpd out of that figure were condensate exports."Exports of ...

Markets - Energy - Europe

Oil falls as investors weigh up odds of output freeze LONDON: Oil fell for the first time in a week on Wednesday, but remained in sight of six-week highs, as investors weighed up how successful potential talks among producers to rein in ballooning oversupply would be.Brent crude futures were down 47 cents at $48.76 a barrel by 1055 GMT, while U.S. West Texas Intermediate (WTI) crude was down 18 cents at $46.40 a barrel.Prices have risen by nearly 20 percent in just two weeks to ...