08242016Wed
Last update: Wed, 24 Aug 2016 11am

Europe

Markets - Energy - Europe

North Sea Crude-Diffs edge up to highest since mid July LONDON: North Sea crude oil differentials rose on Monday, climbing for a second day, after a couple of trades materialised that provided the market with a boost ahead of upstream maintenance in September. Brent changed hands at its highest level since mid-July, as did Forties. According to Genscape data, the VLCC Marbat, currently chartered by Vitol, loaded at Hound Point late last week and is scheduled to sail to South Korea later this month, according to shipping sources. Another VLCC, the Sara, was anchored off the UK coast for at least a month. The vessel is on its way to China, according to Reuters data, but one trade source said the ship is still for orders, indicating that there is, for now, no taker for the crude aboard. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Med crude-Urals weaker in northwest Europe, ample supply expected MOSCOW: Urals price differentials weakened in northwest Europe on Monday as unsold volumes in the region and an expected rise in exports in September weighed on prices for the Russian grade. A preliminary loading plan for Urals in the first days of September did not emerge on Monday as most traders expected and was said to appear on Tuesday. Traders expected Russian crude exports to rise in September compared to August due to start of ...

Markets - Energy - Europe

Oil extends gains on output freeze hopes LONDON: Oil rose further Monday on hopes that OPEC producers would agree to freeze output next month and ease the global supply glut.At 1130 GMT, US benchmark West Texas Intermediate for September delivery added 24 cents to $44.73 a barrel.Brent North Sea crude for October won 25 cents to $47.22 per barrel.Saudi Arabian oil minister Khalid al-Falih hinted last week that OPEC could discuss action to stabilise markets at an informal gathering in September.That helped ...

Markets - Energy - Europe

Oil rises on talk of producer action, but excess looms LONDON: Oil prices rose on Monday to their highest in nearly a month, with benchmark Brent crude trading more than 10 percent above the start of August, as speculation intensified about potential producer action to support prices in an oversupplied market.Brent crude oil futures rose to a high for the month of $47.67 a barrel on Monday before dipping back to $47.10 per barrel at 0943 GMT, up 13 cents from their last settlement, and ...

Markets - Energy - Europe

North Sea Crude-Brent weakens, Forties firms on upcoming maintenance LONDON: The differential for Forties crude jumped on Thursday for end-August loading cargoes as the prospect of September field maintenance began to sink in. Cheap freight means that traders holding Forties in VLCCs off the UK coast are in no hurry to sell. Forties had not traded since last week and was subsequently offered down to as low as dated Brent minus 75 cents a barrel on Friday. The differential for the Brent grade fell, ...

Markets - Energy - Europe

W. Africa Crude-Nigerian offers strong, Angolan clearing LONDON: Some Nigerian crude grades were offered at high levels but traders said weak refining margins meant buyers were not in a hurry. About 10 cargoes of Angolan crude were still thought to be available for September loading. NIGERIA Bonny Light was last heard offered at dated Brent plus $2.60 a barrel, a source said, and Bonga was offered at dated plus $2.00. These were considered high offer levels. Qua Iboe, Forcados and Brass River ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline cracks slide as crude jumps LONDON: Gasoline refining margins in northwest Europe extended their losses on Thursday, sliding below $8 a barrel for the first time since late July, as a supply overhang continued to weigh and as crude prices jumped. Europe gasoline exports have been ticking along, but not at a rate high enough to soak up excess supplies, traders said. Oil prices rose over 3 percent after comments from the Saudi oil minister about possible action to stabilize ...