01182017Wed
Last update: Wed, 18 Jan 2017 10am

Europe

Markets - Energy - Europe

North Sea Crude-Brent rises to highest since mid-Oct LONDON: North Sea crude oil differentials edged higher on Monday, led by gains in Brent, which changed hands at its strongest in over a month after brisk trade in the daily trading window. The loading programmes for January are due out later this week. The December BFOE programme was one of the largest so far this year, adding to the weakness in North Sea differentials that has persisted through the last month. An overhang of crude stored on ships has contributed to the underlying weakness. Reuters data shows at least six aframaxes, each capable of holding some 750,000 barrels of oil, and two suezmaxes, able to hold around 1 million barrels. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Gazprom gets greater access to Germany's Opal gas pipeline FRANKFURT: Germany's energy regulator and Gazprom have agreed terms of a deal giving the subsidiaries of the Russian group greater access to the Opal gas pipeline, which the European Union approved a month ago. The Opal transport company is owned by Gazprom and German chemical firm BASF. The EU lifted a limit on Gazprom's use of the infrastructure, which takes gas from the subsea Nord Stream pipeline into central Europe, paving the way for Russia ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks rise, but outlook weakens LONDON: Diesel refining margins in northwest Europe rose on Monday amid volatile crude trading, but expected higher imports into the region weighed on the outlook. The arbitrage from the US Gulf Coast remained closed as demand from Latin America remained strong, traders said. Imports from the Middle East and Asia were also low but were expected to sharply increase in the coming weeks as refiners in the Middle East complete maintenance. Around 15 tankers have ...

Markets - Energy - Europe

OPEC makes last-ditch bid to save oil deal as tensions grow VIENNA: OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. OPEC experts started a meeting in Vienna at 0900 GMT and were due to make recommendations to their ministers on how exactly the Organization of the Petroleum Exporting Countries should reduce production when it meets on Nov. ...

Markets - Energy - Europe

Oil up in choppy trade as OPEC heavyweights head to Vienna LONDON: Oil prices gained more than two percent on Monday in volatile trading after falling as much as two percent, recouping losses as the market reacted to the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday.Brent crude futures were $1.10 higher at $48.34 per barrel by 1410 GMT, after falling in early morning trade, clawing back losses and falling again. US West Texas Intermediate (WTI) crude futures ...

Markets - Energy - Europe

Oil slip sends dollar, bond yields skidding LONDON: The dollar saw its biggest drop in almost a month on Monday as a bashing for oil prices on doubts about an OPEC output cut this week left investors reversing "Trumpflation" trades that have gripped markets since the U.S. election.Crude prices and Europe's main stock markets were down over 1 percent in early European trading as Italian shares also took a fresh tumble ahead of its referendum on constitutional change this Sunday.Oil's fall added ...

Markets - Energy - Europe

Oil prices gyrate as OPEC heavyweights head to Vienna LONDON: Oil prices edged higher on Monday, after falling as much as 2 percent in early trading, as the market grappled over the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday aimed at reining in global oversupply.Brent crude futures fell as far as 2 percent before clawing back to trade 29 cents at $47.44 per barrel at 1008 GMT.U.S. West Texas Intermediate (WTI) crude futures also recouped ...