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

Europe

Markets - Energy - Europe

Med Crude-Urals stronger in Med, steady in Baltic LONDON: Russian Urals crude strengthened in the Mediterranean on Thursday widening the gap with the weaker Baltic market and potentially encouraging more cargoes from Europe's north to sail to the south.In the Platts window, Vitol offered an Aframax tanker at dated Brent minus $1.15 a barrel and Shell was bidding at dated Brent minus $1.40 a barrel, some 20 cents stronger than previous price estimates.Vitol was also offering a Urals cargo in the Baltic at dated Brent minus $2.70 a barrel but saw no buyers as the asking price was assessed as too ambitious."There are a number of cargoes left but the buying interest is quite good. Many refiners are looking at the current flat price levels and say - well, maybe it won't go any cheaper, maybe it is time to buy," said a trader with a major.Brent oil futures fell to the lowest since 2004 on ThursdayThere was ...

Markets - Energy - Europe

Oil slides below $33 to near 12-year low as China turmoil rattles investors LONDON: Oil fell below $33 a barrel on Thursday for the first time since April 2004 as a slide in Chinese shares rattled investors already concerned by near-record production and massive stockpiles of unwanted crude and refined products. Oil prices have fallen by about 70 percent since mid-2014, hurting oil companies and governments that rely on crude revenue. China allowed its yuan currency to slip on Thursday, sending regional currencies and stock markets globally tumbling.The ...

Markets - Energy - Europe

Argentina tenders to buy nine LNG cargoes for Jan-March delivery LONDON: Argentina's YPF has launched a tender to buy nine liquefied natural gas (LNG) cargoes for January to March delivery, trade sources said. One of the cargoes is to be delivered to the Bahia Blanca terminal, 640 km south of Buenos Aires, while the other eight are for Escobar on the Parana River, two traders said. The tender closes on Monday, one trader said. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Oil hits 11-year low, Saudi-Iran row cuts chances of output restraint LONDON: Oil prices hit their lowest in over 11 years on Wednesday, as the row between Saudi Arabia and Iran was seen making any cooperation between major exporters to cut output even more unlikely. Evidence of slowing economic growth in China and India has fuelled fears that even strong demand elsewhere may not be enough to mop up the excess crude that has resulted from near-record production over the last year. The furore over Saudi ...

Markets - Energy - Europe

Brent oil slumps under $35 for first time since 2004 LONDON: Brent oil prices tumbled Wednesday underneath $35 for the first time in 11 years, plagued by abundant oversupply and amid the ongoing row between key producers Iran and Saudi Arabia.At about 1030 GMT, European benchmark Brent North Sea crude oil for February delivery sank to $34.83 per barrel-- the lowest level since July 1, 2004.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Energy - Europe

Nigeria's February crude oil exports retreat from multi-month high  LONDON: Total exports of Nigerian crude oil are expected to slide in February after reaching a three-month high for January, a compilation of loading programmes showed on Tuesday.The export programme for Brass River crude, which was under force majeure, had not yet been issued, leaving just 56 cargoes for a total of 53 million barrels planned for February loading.While a Brass River programme was expected once the force majeure was lifted, it would not enable ...

Markets - Energy - Europe

Oil prices drop despite Middle East tensions LONDON: Oil prices extended losses on Tuesday as the crude supply glut overshadowed a diplomatic row between key producers Saudi Arabia and Iran.Tensions between the two major oil producers over Saudi Arabia's execution of a prominent Shiite cleric have erupted into a full-blown diplomatic crisis after Riyadh and its Sunni Arab allies cut or reduced ties with Iran, sparking global concern.But analysts said that the impact of geopolitical risks in the Middle East on the ...