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Last update: Mon, 23 Jan 2017 05pm

Markets - Energy

Markets - Energy - Asia

Asia Fuel Oil-Hedging activity lifts swap values SINGAPORE: Values of near-dated 380-cst fuel oil flat price swaps traded on the Intercontinental Exchange (ICE) were higher on Tuesday amid hedging activity by buyers of the fuel who were looking to take advantage of the dip in prices in the previous session caused by declines in crude oil prices, fuel oil brokers and traders said.Flat price swaps for the 380-cst fuel for the first three months of the new year were 40 cents to 50 cents higher by 1730 Singapore time (0930 GMT) amid active trading on ICE, the sources said.Meanwhile, traders said premiums of the Dec/Jan time spreads for the 380-cst fuel eased due to a lack of buying interest for the contracts which expire in two days.In the physical markets, cash premiums held steady despite muted trading activity in the Platts window on Tuesday.Two cash deals were reported in the window, totalling 40,000 tonnes of 180-cst fuel ...

Markets - Energy - Europe

Russia's Gazprom Neft, Iran's NIOC agree Iranian oil field studies TEHRAN/MOSCOW/BEIRUT: Russian oil producer Gazprom Neft and National Iranian Oil Company (NIOC) agreed on Tuesday to conduct a study into the possible development of two oil fields in Iran, Russia's energy ministry Alexander Novak said. Iran, OPEC's third largest oil producer, plans to launch next year a new-style contract for helping develop its oil and gas fields with invitations to tender to be the first since the lifting of sanctions. Novak said Gazprom Neft, the ...

Markets - Energy - Europe

UK GAS-Prices rise as outages spur buying LONDON: British wholesale gas prices rebounded on Tuesday afternoon after a series of outages were announced, which raised concerns about supply this week and prompted buying. Gas for day-ahead delivery was up 0.60 pence at 45.00 pence per therm at 1403 GMT, while gas for weekend delivery was 0.75 pence higher at 44.95 p/therm. Prices were in decline early on Tuesday due to oversupply but a series of outages at the Netherlands' Bergermeer storage site, ...

Markets - Energy - Americas

Uruguay's ANCAP seeks gasoil cargo for January HOUSTON: Uruguay's state-run oil company ANCAP has launched a tender to buy 20,000 cubic meters of gasoil for delivery Jan. 25-30 at La Teja terminal, according to a document seen by Reuters on Tuesday. The company earlier this month bought a gasoline cargo on the open market for February delivery. Bids for this tender will be received until Dec. 15, indexed to ultra-low sulfur diesel (ULSD) prices at the US Gulf Coast. Copyright Reuters, 2016 ...

Markets - Energy - Americas

US gasoline margins jump on report of Saint John refinery outage NEW YORK: US gasoline margins jumped by more than 3 percent Tuesday morning on a report that Irving Oil had unexpectedly shut its gasoline-making unit its 300,000 barrel-per-day (bpd) Saint John refinery in New Brunswick, Canada, traders said. Energy intelligence service Genscape reported Tuesday morning that the refinery's 70,000 (bpd) fluid catalytic cracker was shut, just days after it was restarted after planned work. Reuters has not independently confirmed the reported outage. The US gasoline ...

Markets - Energy - Americas

US STOCKS SNAPSHOT-S&P, Dow hit record highs; Fed meeting in focus NEW YORK: Wall Street opened higher on Tuesday, with the Dow and the S&P 500 hitting fresh record highs, as investors focused on the Federal Reserve's two-day meeting where it is widely expected to raise rates for the second time since the financial crisis. The Dow Jones Industrial Average rose 67.56 points, or 0.34 percent, to 19,863.99. The S&P 500 gained 7.82 points, or 0.346484 percent, to 2,264.78. The Nasdaq Composite added 19.80 points, or ...

Markets - Energy - Middle East & Africa

Qatar to cut oil production from January 1 DOHA: State-owned Qatar Petroleum, one of the largest oil companies in the world, announced on Tuesday that it will reduce production levels from the beginning of next year.The reduction -- beginning on January 1 -- comes following the recent decisions by OPEC and non-OPEC oil-producing countries to cap output."We have started advising our customers of the expected reductions in oil deliveries to ensure the state's compliance with OPEC's allocations," said a statements from Saad Sherida ...