12042016Sun
Last update: Sun, 04 Dec 2016 09pm

Europe

Markets - Energy - Europe

West Africa Crude-Asian fuel oil demand boosts Angolan LONDON: Trading in Nigerian grades was muted while heavy Angolan grades were nearly sold out on the back of stronger fuel oil margins in Asia due to low supplies. Singapore benchmark fuel oil refining margins turned positive on Wednesday for the first time in over four years due to a surprise drop in oil prices as Republican Donald Trump edged ahead in the US presidential election. In a vain attempt to halt the continuing slide of its currency, Nigerian security agents raided the offices of black market currency dealers on Thursday, who are offering 460 naira per dollar versus the official rate of 305.5.ANGOLA Less than 10 cargoes of December loading Angolan cargoes were left. Hungo, Saturno and Nemba were sold out while about three cargoes of CLOV still lingered. Total, BP and Statoil were still said to be showing CLOV at around dated Brent minus 40 cents a barrel. ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks slip, trace gasoline prices amid oversupply LONDON: Gasoline refining margins in northwest Europe slipped on Thursday, tracing lower gasoline prices as markets refocused on global crude oversupply, underscored by an International Energy Agency report warning of a continued glut next year. Gasoline stocks independently held at the ARA hub dropped 9 percent in the week to Thursday, data from PJK International showed. In the US, gasoline stocks fell 2.8 million barrels last week, surpassing expectations in a Reuters poll for a ...

Markets - Energy - Europe

IEA sees global market awash with oil in 2017 if no OPEC cut LONDON: The oil market surplus may run into a third year in 2017 without an output cut from OPEC, while escalating production from exporters around the globe could lead to relentless supply growth, the International Energy Agency said on Thursday.In its monthly oil market report, the group said global supply rose by 800,000 barrels per day in October to 97.8 million bpd, led by record OPEC output and rising production from non-OPEC members such as ...

Markets - Energy - Europe

Oil prices steady as markets recover from Trump shock LONDON: Oil prices steadied on Thursday as markets recovered from their initial shock at U.S. President-elect Donald Trump's surprise victory, but investors were cautious ahead of a key OPEC meeting to decide on production.Most markets shook off post-election losses and bounced back on Thursday.But the oil market is heavily oversupplied and investors are focusing on a gathering of the Organization of the Petroleum Exporting Countries on Nov. 30, which may lead to output cuts.Brent crude ...

Markets - Energy - Europe

Oil slips below $46 as Trump win sends markets into risk-off mode LONDON: Oil fell below $46 a barrel on Wednesday as Donald Trump's surprise victory in the U.S. presidential election sent markets into turmoil reminiscent of June's Brexit vote.The global benchmark, Brent crude, fell almost 4 percent to the lowest since August in Asian trading as results showed Trump gaining ground, although it later recovered some of its losses.Brent was down 47 cents at $45.57 a barrel by 0904 GMT, having traded intraday as low as ...

Markets - Energy - Europe

Total signs first post-sanctions Western energy deal with Iran PARIS: France's Total has signed a deal with Iran to further develop its part of the world's largest gas field, becoming the first western energy company to sign a major deal with Tehran since the lifting of international sanctions earlier this year. Total confirmed on Tuesday it had signed a heads of agreement with National Iranian Oil Company (NIOC) for the Phase 11 development of South Pars in the Gulf, which extends into Qatari waters ...

Markets - Energy - Europe

UK GAS-Prices climb on lower temperatures, declining wind output LONDON: British wholesale gas prices climbed on Monday morning, boosted by increased demand due to colder weather and falling wind output. Gas for instant delivery climbed by 4.80 pence or 10.4 percent to 51.80 pence per therm at 1022 GMT, just under a one year and nine month high of 53 pence hit last week. The day-ahead price was 1.40 pence higher at 51.25 pence per therm.Forecast demand was 307.2 million cubic metres (mcm), around ...