08262016Fri
Last update: Fri, 26 Aug 2016 01pm

Europe

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline margins slip as ARA inventories build LONDON: Gasoline refining margins in northwest Europe eased on Thursday as stocks in the ARA storage hub climbed, but continued export demand gave cracks a floor. Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp oil hub rose by over 6 percent in the week to Thursday, Dutch consultancy PJK International said. But the upcoming European autumn refinery maintenance season is expected to help soak up some of the supply excess. European refinery turnarounds are set to peak at around 1.1 million barrels per day (bpd) in mid-September, less than half the volume that was out during the same period last year but globally, the turnaround outage will be larger at roughly 7 percent of global refinery throughput. In a move that could spur more spot gasoline cargo demand from Europe, the Brazilian government has no plans to extend a tax exemption for ethanol sales that expires in December as it pushes ...

Markets - Energy - Europe

North Sea Crude-Forties steady, lower output delays some cargoes LONDON: North Sea Forties held broadly unchanged on Thursday at parity with dated Brent as lower-than-expected production tightened supplies, lending support. A number of September-loading Forties cargoes have had their loading dates delayed, and two cargoes have been dropped from the programme. Forties cargoes F0910 and F0912 will now load in the last 10 days of September, a trade source said. "Lower production," the source said of the reason for the deferrals. "Certain fields are ...

Markets - Energy - Europe

Med Crude-Urals down in NWE as loadings in mid-end Sept look ample MOSCOW: Urals price differentials in the Baltic fell on Thursday as trading activity drifted to mid-end September with a higher availability of Russian barrels to the market, traders said. Exports from Primorsk and Ust-Luga on Sept. 16-30 will rise to 3.6 million tonnes, up by 2.9 million tonnes between Sept. 1 and 15, when supply is smaller due to maintenance on the pipeline linked to Primorsk, according to the Urals lifting schedule for next month."Despite ...

Markets - Energy - Europe

Oil prices fall as production freeze expectation fades LONDON: Oil prices slipped on Thursday as the market focused on oversupply and fading expectation of a production freeze.Global crude oil benchmark Brent was down 10 cents at $48.95 a barrel by 1230 GMT, having closed down 1.8 percent on Wednesday. U.S. light crude oil was down 15 cents at $46.62 a barrel, after dropping 2.8 percent on Wednesday.Oil prices rose more than 20 percent in the first three weeks of August on talk of ...

Markets - Energy - Europe

Oil prices hit reverse again LONDON: World oil prices skidded lower Thursday, reversing earlier gains as traders dwelled on rising US crude stockpiles and the stronger dollar.At 1145 GMT, US benchmark West Texas Intermediate (WTI) for delivery in October sagged 22 cents at $46.55 per barrel.Brent North Sea crude for October delivery lost 20 cents to $48.85 a barrel compared with the close on Wednesday."It is the aftershocks of yesterday's disappointing oil report and the strengthening of US dollar that ...

Markets - Energy - Europe

Oil prices fall as hopes of production freeze fade LONDON: Oil prices slipped on Thursday as the market focused on oversupply and fading hopes of a production freeze.Global crude oil benchmark Brent was down 15 cents at $48.90 a barrel by 1043 GMT, having closed down 1.8 percent on Wednesday. U.S. light crude oil was down 5 cents at $46.72 a barrel, after dropping 2.8 percent on Wednesday.Oil prices rose more than 20 percent in the first three weeks of August on talk of ...

Markets - Energy - Europe

Europe Distillates-Diesel diffs rise for fourth session LONDON: Diesel barge differentials in northwest Europe rose for a fourth straight session to a two-week high as upcoming refinery maintenance raised expectations for tighter supplies. US distillate stockpiles, which include diesel and heating oil, rose last week by 122,000 barrels, versus expectations for a 400,000-barrel increase, EIA data showed. Concerns that a tropical storm in the Caribbean will reach hurricane strength before it hits the US Gulf Coast supported the market. * Oil refiners ...