08282016Sun
Last update: Sun, 28 Aug 2016 01pm

Europe

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline slides as crude hits 5-week high LONDON: Gasoline refining margins in northwest Europe fell sharply to below $7 a barrel on Monday as crude prices jumped, while steady exports to the US and west Africa capped losses. Oil rallied to a five-week high as speculation intensified over potential producer action to support prices amid a crude glut. Overseas demand, particularly from West Africa, in recent days has helped give cracks in Europe a floor. Philadelphia Energy Solutions was planning to restart the 85,000 barrel-per-day fluid catalytic cracking unit in the Girard Point section of its Philadelphia refinery complex by Monday, according to a source familiar with the plant's operations. Western naphtha arrivals into Asia for Sept. are expected to hit 900,000 - 1 million tonnes, well below the 12-month running average of about 1.45 million tonnes, based on assessments by Thomson Reuters Supply Chain & Commodities Research. Japan's naphtha imports for the petrochemical sector fell 8 ...

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 ...

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 ...