04292016Fri
Last update: Fri, 29 Apr 2016 09am

Markets - Energy

Markets - Energy - Americas

LatAm energy ministers huddle ahead of oil price meet QUITO: Ministers from five Latin American oil producers gathered Friday in Ecuador to hash out a regional strategy ahead of a highly anticipated meeting in Doha aimed at stabilizing collapsed prices.The April 17 oil giants' meeting in Doha, led by Russia and Saudi Arabia, has raised producers' hopes of a potential agreement on freezing production to prop up prices.Ecuadoran Hydrocarbons Minister Carlos Pareja, who hosted his counterparts from Bolivia, Colombia, Mexico and Venezuela, said the region wants to support "whatever decision is taken in Qatar.""That could be a freeze, but we'll decide that at the meeting," he told a press conference ahead of the talks."Less than $30 (a barrel) is incompatible with the cost of production and doesn't allow us to make new investments, begin new projects, recover investment. That's a problem for all producers, OPEC and non-OPEC alike. No one escapes. It's a very delicate issue."Qatar, Russia, Saudi Arabia ...

Markets - Energy - Americas

US yields rise on oil gains, 30-year yield falls for 4th straight week NEW YORK: U.S. Treasury debt yields rose from six-week lows on Friday, backed by a surge in oil prices and Federal Reserve Chair Janet Yellen's comments on interest-rate hikes, but fell for the second consecutive week with 30-year bond yields falling for the fourth week in a row.Crude oil futures surged about 6 percent as encouraging economic indicators in the United States and Europe boosted hopes of rising demand."We seem to be being pulled in ...

Markets - Energy - Americas

Oil rise lifts Latam currencies; eyes on Peru, Brazil SAO PAULO: A jump in oil prices put Latin American currencies on track for a positive end to a week marked by hefty losses as investors turned their focus to political developments in Peru and Brazil over the coming days.Hopes that major oil producers could agree to freeze output at a meeting in Doha on April 17 lifted crude prices by more than 6 percent, triggering a rebound in demand for risky assets.Latin American markets ...

Markets - Energy - Europe

Mexico's CFE buys 6 LNG cargoes LONDON/MILAN: Mexico's state-run power company CFE has purchased six liquefied natural gas (LNG) cargoes from BP, Citi and Vitol, three traders said. CFE bought three cargoes from BP, two from Citi and one from Vitol, two traders said. Mexico originally tendered for seven cargoes for delivery in 2016. Copyright Reuters, 2016

Markets - Energy - Asia

Brent crude's premium to Dubai hits over 2-month high SINGAPORE: Brent's premium to Dubai crude hit the highest in more than two months after the European marker strengthened ahead of oilfield maintenances that could tighten supplies, trade sources said on Friday. Brent-Dubai Exchange of Futures for Swaps (EFS) for June was valued at $3.65 a barrel, the sources said, up 28 cents from Thursday's close. This is the widest since Jan. 14, according to Reuters data. A wider spread makes Dubai-linked grades more attractive ...

Markets - Energy - Asia

Middle East Crude-Prompt Dubai rises, spreads narrow SINGAPORE: The Middle East crude benchmark Dubai strengthened on Friday, narrowing the prompt monthly spread to just 10 cents a barrel in contango, industry sources said.Cash Dubai's discount to swaps narrowed 9 cents after Unipec sold a partial to Chinaoil at $36.60 a barrel, traders said.The May-June spread narrowed 7 cents from the previous session to 10 cents a barrel.The recent strength in Dubai's market structure baffled some traders as it typically points to strong ...

Markets - Energy - Asia

Asia Fuel Oil-380cst spreads, differentials slip in muted activity SINGAPORE: The Asian 380cst fuel oil prompt-month and cash differentials moved back into discounts on Friday amid muted trading activity and weaker buying interest, traders said.For a second time this week, the 380cst April and May contracts in the Platts window flipped into a narrow contango of 25 cents a tonne below Singapore quotes, compared with a premium of 5 cents a tonne the day before, industry sources said.In cash deals, one trade was reported ...