06302016Thu
Last update: Thu, 30 Jun 2016 10pm

Markets - Energy

Markets - Energy - Europe

Vitol hires former trading boss of Total as head of Africa LONDON: The world's largest oil trading house, Vitol, has hired the former head of trading of French oil major Total, Pierre Barbe, as its new head of Africa, three industry sources told Reuters. Vitol declined to comment. Barbe had worked for Total since 1983 and was in charge of trading at Total, known as Totsa - one of the world's largest oil trading desks - between 2007 and 2014. Copyright Reuters, 2016

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha and gasoline cracks weighed by supply concerns SINGAPORE: Asia's naphtha crack slipped $1.43 to $52.40 a tonne on Monday, as ample supplies weighed on market sentiment, traders said. Naphtha cracks have lost more than 60 percent of their value since their 2016 highs of $148.28 in the beginning of January, and margins remain pressured by weak fundamentals and excess supplies despite a contraction in eastbound arbitrage arrivals in recent months. About 1 million tonnes of naphtha were placed on provisional bookings for ...

Markets - Energy - Europe

Oil rallies as fears over Brexit abate LONDON: Oil rallied on Monday, lifted by a wave of investor confidence and a weaker dollar after polls showed a diminishing chance that Britain may vote to leave the European Union later this week.August Brent crude futures were up 90 cents at $50.07 a barrel by 0843 GMT, set for a gain of 6 percent in two trading days. NYMEX crude for July delivery, which expires on Tuesday, was up 80 cents at $48.78 a ...

Markets - Energy - Middle East & Africa

Iran says Japan has bought more than 200,000 bpd in the last month DUBAI: Iran's oil export chief said on Monday that Japan had bought more than 200,000 barrels of oil per day from Tehran in the last month, indicating the two countries are ready to move beyond their current contract terms.Japan has a contract to buy 160,000 bpd from Iran but its purchases have gradually increased over the last three months, Mohsen Ghamsari, director for international affairs at the National Iranian Oil Company (NIOC), was quoted by ...

Markets - Energy - Asia

Oil extends rebound on weak dollar, easing fears of Brexit SINGAPORE: Oil prices extended gains in Asia Monday thanks to a weaker US dollar and easing fears of Britain's exit from the European Union. The dollar fell for the fourth day in a row on Monday, trading lower against most major currencies, making dollar-priced oil cheaper for those using other currencies. At about 0710 GMT, US benchmark West Texas Intermediate for July delivery was up 53 cents, or 1.10 percent at $48.41 a barrel. International ...

Markets - Energy - Asia

Oil extends gains as Brexit fears ease TOKYO: Oil extended gains in Asian trading on Monday as a weaker dollar and easing worries over Britain's possible exit from the European Union helped support crude.London Brent crude for August delivery was up 34 cents at $49.51 a barrel by 0235 GMT, after settling up $1.98, or 4.2 percent, at $49.17 on Friday.NYMEX crude for July delivery, which expires on Tuesday, was up 44 cents at $48.42 a barrel, after closing up $1.77, or ...

Markets - Energy - Americas

With oil price near $50, resilient US shale producers eye new chapter HOUSTON: Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency.That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back OPEC's attempt to sideline them would have been unthinkable just months ago, when oil plumbed $26 a barrel and collapses were feared.To ...