05302016Mon
Last update: Mon, 30 May 2016 11am

Europe

Markets - Energy - Europe

Russian oil exports from Baltic and Black Sea ports seen rising in June MOSCOW: Russian oil exports and transit from the Baltic Sea ports and Novorossiisk expected to rise in June on a daily basis to reach 9.1 million tonnes compared a preliminary loading plan obtained by Reuters showed. This is compared to to 9.35 tonnes in May, which is a day longer than June. Oil loadings from Primorsk were seen at 3.9 million tonnes, down from 4.8 million tonnes in a revised loading plan for May, while Ust-Luga exports and transit will rise to 2.5 million tonnes, up by 0.3 million tonnes from the current month. Urals and Siberian Light loadings from the Black Sea port of Novorossiisk will total 2.7 million tonnes, up from 2.35 million tonnes in May. The preliminary loading plan provides for 0.48 million tonnes of Siberian Light crude for loading in Novorossiisk in June. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Oil nudges $50 a barrel as investors bet on shrinking overhang LONDON: Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in U.S. inventories.A series of outages around the world, such as wildfires in Canada and a spate of violence in Nigeria's oil-producing region, has helped cut global oil supply by nearly 4 million barrels per day this ...

Markets - Energy - Europe

Oil drifts lower on stronger dollar LONDON: Oil dipped Tuesday as a stronger US dollar and progress in controlling wildfires in Canada's crude-producing Alberta province dampened prices.At around 1100 GMT, US benchmark West Texas Intermediate for July delivery was down 20 cents at $47.88.Brent North Sea oil, the European benchmark, for July delivery slid 29 cents at $48.06."Crude prices continue to roll over as supply outages in Canada and Libya begin to ease, leaving little fundamental support for oil, save an ...

Markets - Energy - Europe

Oil falls for fifth day as focus returns to growing exports LONDON: Oil fell for a fifth consecutive day on Tuesday on rising production from major exporters, and as the dollar strengthened.Brent futures had declined 25 cents to $48.10 a barrel by 1051 GMT, after closing down 37 cents in the previous session.U.S. crude futures dropped 15 cents to $47.93 a barrel, having settled down 33 cents the day before.Both contracts are on track for their longest losing streak since January.Iraq's oil output has reached 4.7 ...

Markets - Energy - Europe

Oil prices dip as Iran says no plan to freeze output LONDON: Oil prices slipped Monday after Iran said it had no plans to join any output freeze by other major producers.Despite a recent rebound, world crude prices are still at less than half of their levels of June 2014 because of a supply glut, partly fed by Iran's return to world markets in January after the lifting of nuclear-linked Western sanctions."The government has no plans for the time being to freeze or interrupt its increase ...

Markets - Energy - Europe

ENI CEO says Nord Stream 2 would raise gas prices in Italy BRUSSELS: Italian gas prices will increase if the Nord Stream 2 pipeline is built to double the amount of gas Russia pumps to Germany, the CEO of Italian oil and gas major Eni said on Monday. Hinting at the political divisions that the pipeline has sparked within the European Union, Eni CEO Claudio Descalzi said it was a project that would advantage northern members of the 28-nation bloc, while Italy may face higher transit fees. ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks extend gains on French strikes LONDON: Benchmark European diesel refining margins extended their gains on Monday, as strikes at French refineries widened, raising concerns of supply disruptions. France's hardline CGT and FO unions launched a 24-hour strike at the Fos-Lavera oil terminals and blockaded a fuel depot in the southern port city of Marseille on Monday as they toughened their stance against labour market reforms. Total, which operates five of the eight refineries in France, has started the process of ...