09302016Fri
Last update: Fri, 30 Sep 2016 06am

Europe

Markets - Energy - Europe

Oil at six-week low as oversupply outweighs output freeze talks LONDON: Oil prices fell to the lowest in nearly six weeks on Tuesday as concerns over a potential rise in US crude stocks, adding to swelling oversupply, outweighed OPEC comments that a possible production freeze agreement could last longer than expected. Global benchmark Brent crude oil futures were trading at $45.20 per barrel at 1338 GMT, down 75 cents day on day and the weakest since Aug. 11.US West Texas Intermediate (WTI) crude futures were down 60 cents at $42.70 a barrel, also the lowest in nearly six weeks. Analysts polled by Reuters expected US commercial crude oil inventories to have risen 2.3 million barrels in the week to Sept. 16, paving the way for a bearish market reaction because a rise in stocks indicates growing oversupply.The American Petroleum Institute (API) is scheduled to release its weekly crude stocks data at 2030 GMT on Tuesday.Oil prices also reacted to comments ...

Markets - Energy - Europe

Oil drops with producers' meeting, US data on horizon LONDON: Oil prices dipped Tuesday with analysts expecting volatility in the run-up to a producers' meeting next week, while traders are also awaiting the release of US stockpiles data.Around 1130 GMT, Brent North Sea crude for delivery in November was down 48 cents at $45.46 a barrel compared with Monday's close.US benchmark West Texas Intermediate for October shed 35 cents to $42.95 a barrel.The commodity plunged last week on supply glut worries but bounced slightly ...

Markets - Energy - Europe

Oil falls on US crude stock rise, Venezuela warning LONDON: Oil prices edged lower on Tuesday ahead of an expected build in U.S. crude oil stocks and on Venezuelan comments that the oil market remains oversupplied by 10 percent.Analysts polled by Reuters expect U.S. commercial crude oil inventories to have risen 2.3 million barrels in the week to Sept. 16, paving the way for a bearish market reaction because a rise in stocks indicates growing oversupply.The American Petroleum Institute (API) is scheduled to release ...

Markets - Energy - Europe

Europe Distillates-Diesel crack hold steady on lower imports LONDON: Benchmark diesel refining margins in northwest Europe held steady on Monday at around $9.50 a barrel as lower imports from the US Gulf Coast and regional maintenance tightened supplies. Demand in northern Europe remained weak. Lower water levels along the Rhine River limited barge activity while high inland storage levels further dampened buying, traders said. The arbitrage from the US Gulf Coast remained closed for most traders. Supplies from Asia and the Middle East ...

Markets - Energy - Europe

W. Africa Crude-Angolan Nov. programme emerges, Nigerian OSPs awaited LONDON: Angolan crude exports are set to rise to around 1.57 million barrels per day (bpd) in November, a preliminary programme showed on Monday, up from a smallest schedule in 10 years in October. Angola's offshore Plutonio oilfield resumed production over the weekend after being shut down for about 10 days for maintenance, industry sources said on Monday. Angola's parliament on Monday approved a smaller 2016 budget than it had originally planned, after lower oil ...

Markets - Energy - Europe

Med crude-Azeri light traded firmer, Urals stable in thin trade MOSCOW: Premiums for Azeri light were slightly supported as demand for October-loading cargoes improved among European refiners and more cargoes loading in the first half of the month were sent out of the region. In the Platts window, Statoil offered 135,000 tonnes of Azeri light loading from Supsa or Ceyhan on Oct. 1-5 from a premium of $1.50 down to $1.25 a barrel to BFOE, and at this level it was booked by Japan's Itochu, ...

Markets - Energy - Europe

North Sea Crude-Ekofisk edges higher as gasoline strength persists LONDON: North Sea crude oil differentials held broadly steady on Monday, although Ekofisk was bid higher, as an outage on a major US products pipeline lent support to lighter, sweeter grades. An outage on a key US pipeline operated by Colonial Pipeline Co late last week has pushed up retail gasoline prices and opened up an opportunity for other Atlantic Basin exporters to send both crude and products west. In flows, Reuters shipping data showed ...