05282016Sat
Last update: Sat, 28 May 2016 05am

Europe

Markets - Energy - Europe

North Sea Crude-Forties, Brent rise on tighter supply, Nigerian outages LONDON: North Sea Forties and Brent differentials rose, supported by tighter June supply and Nigerian outages, although offers of Forties from floating storage limited the rise. Ekofisk weakened slightly as Glencore, which traders said had amassed a big June BFOE position, sold two cargoes, while Oseberg was unchanged. WINDOW SUMMARY Forties: Total offered a number of cargoes from floating storage including a May 26-31 cargo on a ship-to-ship transfer basis from the Maran Thetis at July cash BFOE minus 70 cents, equal to roughly dated Brent parity. Petroineos bid for Forties loading on May 27-June 5 at dated Brent plus 55 cents. The two indications valued Forties at dated plus 30 cents, up from about dated Brent plus 25 cents on Friday. Brent: The grade was valued at dated Brent plus 35 cents, higher than the last Reuters assessment. Ekofisk: Glencore sold cargoes loading on June 1-5 and May 31-June ...

Markets - Energy - Europe

W. Africa Crude-Nigeria production falls nearly 40 pct, Angola exports rise LONDON: Nigeria's oil production has fallen by almost 40 percent to 1.4 million barrels a day due to militant attacks on facilities in the Delta region, its oil minister said on Monday. Traders said crude alone was down to just over 1 million bpd, with condensates bringing the total close to 1.4 million. Minister Emmanuel Ibe Kachikwu said efforts would be made to engage with people in the area. President Muhammadu Buhari has extended a ...

Markets - Energy - Europe

Oil prices begin week with 2016 highs LONDON: Oil prices hit new 2016 highs Monday, as a slowdown in US drilling added to growing expectations the global supply glut will gradually disappear.Brent North Sea crude reached $48.90 a barrel and US benchmark West Texas Intermediate (WTI) achieved $47.19 -- the highest levels since early November.Later around 1030 GMT, WTI for delivery in June stood at $47.05, up 84 cents compared with Friday's close.Brent for July jumped 93 cents to $48.76.US oilfield services ...

Markets - Energy - Europe

Oil prices rise on Nigeria outages, Goldman forecast LONDON: Oil prices jumped over 2 percent on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.Brent crude futures were trading at $48.83 per barrel at 1118 GMT, up $1 or 2.05 percent. U.S. crude futures were up 98 cents, or 2.08 percent, at $47.19 a barrel.Supply disruptions around the ...

Markets - Energy - Europe

GLOBAL LNG-Prices tick higher as supplies tighten MILAN/LONDON: Asian liquefied natural gas (LNG) prices firmed this week as supply growth from new and existing producers continued to frustrate expectations. Traders said that liquidity was thin in Asia this week with prices for June delivery at $4.65 per million British thermal units (mmBtu), compared with $4.55 per mmBtu last week. Spot LNG prices for July delivery were seen at similar levels. "Some buyers in Asia may be willing to pay a premium to ...

Markets - Energy - Europe

Oil falls as dollar strengthens but traders eye Nigerian outages LONDON: Oil prices ended a three-day bull run on Friday, falling as a strong dollar weighed and investors cashed in on recent gains, though losses were cushioned by outages in Nigeria that have slashed output there to the lowest in 22 years. The dollar hit a two-week high against a basket of currencies, lifted by expectations the US Federal Reserve will raise rates again before any other major central bank. The strong US currency weighed ...

Markets - Energy - Europe

Oil price falls from 2016 high LONDON: Oil prices fell Thursday on profit-taking, after New York crude reached the highest level this year on signs that the global supply glut was easing.In early trading, New York's benchmark contract reached $47.02 a barrel -- a highest point since early November.Later around 1630 GMT and after traders booked profits, New York's West Texas Intermediate for delivery in June stood at $45.98 a barrel, down 25 cents compared with Wednesday's close.Brent North Sea crude ...