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North Sea Crude: Forties stays at steep discount to dated Brent LONDON: North Sea Forties crude differentials stayed at a steep discount to dated Brent on Tuesday, pressured by ample supplies and a lack of new shipments to Asia. Forties has traded at a discount to dated Brent since the start of October and weakness in the physical market is spreading to the wider market structure, steepening the contango in Brent futures. "As collapsing crude differentials finally start weighing on crude term structures, oil market sentiment has turned back to 'max bearish' mode," analysts at Energy Aspects said in a report. "Talk of $20 oil is back." So far, no VLCCs have been fixed to take December-loading Forties cargoes to Asia, traders said, leaving more crude looking for buyers in the Atlantic Basin. Two VLCC fixtures appear to have failed on Monday. Only one or two VLCCs are set to make the trip with November-loading crude, trade sources said, less than ...

Russian oil output may fall by up to 10mn tonnes in 2017 MOSCOW: Russian oil production may fall by up to 10 million tonnes in 2017 from projected levels for 2015 and 2016, affected by western sanctions that reduce companies' ability to raise funds, First Deputy Energy Minister Alexei Texler said on Tuesday.Russian oil and gas condensate production hit a new post-Soviet high in October, rising by 0.4 percent month on month to 10.78 million barrels per day (bpd).Texler told reporters the ministry was forecasting oil output ...
Brent oil eases as focus returns to global oversupply LONDON: Oil prices eased on Tuesday, reversing the previous day's gains, as the risk premium stemming from the Paris attacks faded, and the focus returned to the global oversupply in crude and petroleum products.Analysts said that despite the Paris attacks and French retaliation against Islamic State (IS) in Syria, prices would remain low for the rest of the year and into 2016 as oil markets stay oversupplied. Production in 2015 will outpace demand by 700,000 ...
Oil rebounds on geopolitical tensions after Paris attacks LONDON: Oil prices climbed on Monday on geopolitical tensions sparked by the deadly terror attacks in Paris, but analysts said a global crude supply glut is likely to restrict the gains.At about 1230 GMT, US benchmark West Texas Intermediate for delivery in December was up 91 cents at $41.65 a barrel. Brent North Sea crude for January delivery won 54 cents to $45.01 a barrel."Price increases fuelled by geopolitical tensions will only be for the ...
Political tensions lift oil after Paris attacks, but glut weighs LONDON: Oil prices edged up on Monday because of heightened political and security tensions after Friday's deadly attacks in Paris claimed by Islamic militants, but a global glut of crude supplies capped rises.France carried out large-scale air strikes against Islamic State sites in Syria overnight, giving oil market investors reason to step up buying activity after a week in which crude benchmark prices fell as much as 8 percent."Some risk premium is factored into the ...
Oil prices seen under pressure as Paris attacks spark demand worries LONDON: Prices of oil and other commodities will come under renewed pressure on Monday on fears that Friday night's deadly attacks on Paris will further slow the global economy. Oil is already trading near its six-year lows and healthy demand has been a major factor preventing the prices from sliding any lower amid a worsening global oil glut due to abundant supplies. At least 129 people were killed on Friday evening in a series of ...
Total says expects Yamal LNG to get funding by year-end MOSCOW: Total expects its Yamal LNG project to receive funding by the end of 2015, RIA news agency quoted a vice president of Total as saying on Friday. Total is joint developing the project with Russia's No.2 gas producer Novatek.Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 17,812.19 0.11
Arrow Nasdaq 5,102.81 0.01
Arrow S&P 2,089.14 0.12
Arrow FTSE 6,277.23 0.45
Arrow DAX 10,933.99 1.43
Arrow CAC-40 4,820.28 1.41
Arrow Nikkei 19,879.81 0.23
Arrow H.Seng 22,587.63 0.35
Arrow Sensex 25,775.74 0.17

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WeeklyNovember 23, 2015
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