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North Sea Crude-Forties trades higher, traders eye May programmes LONDON: North Sea Forties crude price differentials firmed a little on Friday but remained in negative territory as loading programmes for May began to emerge, with a good deal of April barrels still unsold.Oseberg will load six cargoes in May, unchanged from April, although daily loadings are slightly lower at 116,000 barrels per day, as May is a longer month.Traders said some Norwegian programmes seemed to be emerging a little earlier than expected because of the upcoming Easter break.The Forties programme will be issued on Wednesday next week, and Brent and Ekofisk are expected around that time.Traders said there was still quite a bit of April crude available, both North Sea and West African grades. This reflects muted demand from refineries, which are in the midst of seasonal maintenance."We have got to contend with turnarounds again for May cargoes," one trader added.Trade unions Unite and the GMB said members working ...

Oil drops after Yemen-inspired gains LONDON: Oil prices fell Friday after spiking the previous day as Saudi Arabian jets struck rebel targets in Yemen, sparking supply fears in the crude-rich Middle East.Brent North Sea crude for delivery in May sank 63 cents to $58.56 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May slid 81 cents to $50.62 a barrel."Oil prices ... are shedding some of the strong gains they had achieved over the two previous ...
West Africa Crude-Angolan offers reduced, Nigerian lingers LONDON: Angolan crude oil for May loading was on offer at lower levels on Thursday after previous asking prices did not tempt many buyers, traders said on Thursday. Following what traders said was a slow start to trading, state oil company Sonangol trimmed offers by around 25 cents a barrel for most grades, one trader said. Angolan crude oil loadings look more ample in May according to the latest loading programmes which appeared this week, ...
Oil prices surge on Middle East fears LONDON: Oil prices surged Thursday after Saudi Arabian jets struck rebel targets in Yemen, sparking fears that a spiralling crisis in the country could threaten crude producers in the Middle East.Brent North Sea crude for delivery in May rallied $2.46 to reach $58.94 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May jumped $2.17 to $51.37 a barrel.The contracts had begun rallying on Wednesday following news that Yemen's President Abedrabbo Mansour ...
Oil surges on Yemen air strikes, stocks tumble LONDON: Crude prices rose as much as 6 percent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers' currencies.The military operations, including air strikes, targeted Iran-backed Houthi rebels besieging the southern Yemen city of Aden. Arab producers ship oil via the Gulf of Aden and Suez Canal to Europe.The escalating tensions in the Middle East pushed the ...
Oil prices surge after Saudi air strikes in Yemen LONDON: Brent crude oil soared more than 4 percent towards $59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, which sits on a key shipping passage between Europe and the Arab Gulf.The air strikes against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of Middle East oil shipments.Brent futures were up $2.32 at $58.80 by 1120 ...
WEST Africa Crude-Angolan loadings rise further in May LONDON: Angolan crude oil loadings look more ample in May, adding to a well supplied market and potentially weighing on differentials, traders said on Wednesday. The loading programme for Saturno crude emerged on Wednesday after being delayed, bringing total exports in May to about 1.80 million barrels per day, up from April. "Refining margins look good on paper, but maintenance is taking a bit of demand away," said a trader. Some Angolan grades have sold ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
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WeeklyMarch 13, 2015
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