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Last update: Wed, 31 Aug 2016 05am

Europe

Markets - Energy - Europe

Oil falls as investors assess chances of output freeze LONDON: Oil fell for the first time in a week on Wednesday, but remained in sight of six-week highs, as investors weighed up how successful potential talks among producers to rein in ballooning oversupply would be.Brent crude futures were down 55 cents at $48.68 a barrel at 0840 GMT, while U.S. West Texas Intermediate (WTI) crude was at $46.13 a barrel, down 45 cents on the day.Prices have risen by nearly 20 percent in just two weeks to their highest since early July, after speculation surfaced that top producers within and outside of OPEC could finally reach a deal on freezing output."The market is totally dominated by short speculators facing OPEC talk," SEB commodities strategist Bjarne Schieldrop said."The 'pain trade' is probably still to the upside. And now we are a dollar away from $50 so it seems almost unavoidable that we're at least going to take that (level) out," ...

Markets - Energy - Europe

Oil falls as investors weigh up odds of output freeze LONDON: Oil fell for the first time in a week on Wednesday, but remained in sight of six-week highs, as investors weighed up how successful potential talks among producers to rein in ballooning oversupply would be.Brent crude futures were down 47 cents at $48.76 a barrel by 1055 GMT, while U.S. West Texas Intermediate (WTI) crude was down 18 cents at $46.40 a barrel.Prices have risen by nearly 20 percent in just two weeks to ...

Markets - Energy - Europe

Angolan Oct crude oil exports to fall as Dalia enters maintenance LONDON: Angola's crude oil exports are set to fall to 1.43 million barrels per day (bpd) in October as a key grade enters field maintenance, according to a provisional loading programme issued on Tuesday. The programme's 46 cargoes marks a decline from September's exports of just under 1.8 million bpd on 56 cargoes. The October plan included no cargoes of Dalia, which traders said is due to maintenance that will cut exports of the stream.Copyright ...

Markets - Energy - Europe

Angolan Oct oil exports set for 10-year low on Dalia works LONDON: Angola's crude oil exports are set to fall by 366,000 barrels per day (bpd) in October to 1.43 million bpd as a key grade enters maintenance, according to a provisional loading programme issued on Tuesday.The programme's 46 cargoes mark a 10-year low in bpd terms, according to Reuters data, with the figure at its lowest since October 2006.Exports in September were planned at just under 1.8 million bpd on 56 cargoes.The main reason for ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline cracks gain amid stock draw hopes LONDON: Gasoline refining margins in northwest Europe rose to $7.50 a barrel on Tuesday amid limited trading activity as recent stock draws eased concerns over recent months' glut. The arbitrage to the US East Coast has slowed down significantly in recent days. Exports to West Africa have similarly dwindled as congestion outside Nigeria limited new buying, traders said. Inventories in ARA continued to decline as tankers were loading volumes booked in recent weeks. The gasoline ...

Markets - Energy - Europe

Med crude-Urals weak in the north, Azeri light premiums shrink MOSCOW: Urals differentials eased again on Tuesday in northwest Europe due to lower demand for Urals in the region and expectations of ample supplies in September.A preliminary loading plan for early September was released with minor changes to the August plan. Urals exports from Baltic ports on Sept. 1-7 are planned at 1.3 million tonnes, 100,000 tonnes lower than in August, and from Novorossiisk at 0.54 million tonnes, unchanged from August. Traders expect Urals exports ...

Markets - Energy - Europe

North Sea Crude-Forties gains on tighter supplies LONDON: Forties differentials rose due to the highest since early June on stronger demand and signs of tighter September supplies. One cargo of Forties loading in September, F0911, has been dropped from the loading programme after issues with the Kinneil processing plant limited flows, trade sources said. That reduces September loadings to 17 cargoes. There are signs that a build-up of Forties held on VLCCs off the UK coast is easing, potentially helping to support ...