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15-07-2016

China Announces Seven Terminals to Trial Shore Power

China's Ministry of Transport has requested the applicable authorities make necessary preparations after it announced that seven terminals in the country will trial shore power installations for ships.
15-07-2016

New Coalition Aims to Support Adoption of LNG Bunkers

SEA\LNG is a coalition involving Carnival, DNV GL, ENGIE, ENN, GE, GTT, LR, Mitsubishi, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE, and Wärtsilä.
15-07-2016

3 Mins Daily Market Report

Oil prices rose as much as 2 percent on Thursday as traders covered short positions a day after crude futures were hammered by weak U.S. demand for fuel during the traditionally busy summer driving season. Brent crude oil traded 2 percent higher, up 94 cents, at $47.20 a barrel, off a session peak of $47.47. U.S. crude settled up 93 cents, or 2 percent, at $45.68, after rising as high as $45.80 earlier in the session. Key crude benchmarks Brent and U.S. West Texas Intermediate (WTI) lost a
14-07-2016

3 Mins Daily Market Report

Oil prices fell more than 3 percent on Wednesday, extending losses and hitting session lows, after the U.S. government reported a smaller-than-expected crude inventory draw for last week.  U.S. crude oil and product futures extended losses after the data. U.S. crude oil futures settled down $2.05, or 4.4 percent, to $44.75 per barrel. Brent crude recovered earlier losses, and traded up 0.37 percent, or 17 cents, at $46.43. Crude inventories fell 2.5 million barrels in the week to July 8, l
13-07-2016

3 Mins Daily Market Report

Oil prices surged as much as 4 percent on Tuesday in a technical correction and on short covering after a two-month lows hit in the previous session, traders said. U.S. crude oil futures settled up $2.04, or 4.56 percent, for the largest gain in a day since April 8. Brent crude futures were $2.12, or 4.58 percent, at $48.37 per barrel.  Anticipation that data later on Tuesday would show an eighth straight week of declines in U.S. crude stockpiles also boosted the market.  Some investors
12-07-2016

3 Mins Daily Market Report

Oil prices fell on Monday, hitting two-month lows, pressured by rising Canadian supplies, a higher U.S. oil rig count, and cuts in bullish hedge fund bets on crude.  Brent traded at $46.21 per barrel by 2:41 p.m. ET, down 4 cents after sliding to a session low of $45.90, the lowest since May 11. U.S. crude settled down 1.43 percent, or 65 cents, at $44.76 per barrel, the lowest settle since May 10. During the session, WTI hit a two-month low of $44.53. Hundreds of thousands of new barrels
11-07-2016

3 Mins Daily Market Report

Crude prices were higher in choppy trading on Friday, with Brent on track to its largest weekly drop in six months, as strong U.S. jobs data and bargain hunting by investors pitted against seasonally weak consumption of oil. Brent was up 29 cents, or 0.6 percent, at $46.69 per barrel, after a session low at $46.15. U.S. crude futures settled 27 cents higher, or 0.6 percent, at $45.41 a barrel. Both benchmarks were down nearly 8 percent for the week - the largest weekly slide for Brent sinc
07-07-2016

3 Mins Daily Market Report

Oil prices rose in early trading on Thursday, supported by a report of another fall in U.S. crude inventories as well as a weaker dollar, although a glut of refined products and economic growth concerns continue to weigh on markets.  International Brent crude oil futures were trading at $49.08 per barrel at 0045 GMT on Thursday, up 28 cents from their last settlement. U.S. crude was up 27 cents at $47.70 a barrel.  Traders said that a report of a reduction in available U.S. crude oil stock
06-07-2016

3 Mins Daily Market Report

Oil prices were up slightly in early Asian trading on Wednesday after sharp falls in the prior session, but gains were limited by ongoing concerns about the economic impact of Britain's vote to leave the European Union and a glut of crude.  U.S. crude was up 13 cents $46.73 a barrel at 0017 GMT. The contract fell 5 percent to end at $46.60 on Tuesday as U.S. investors got to digest news of an OPEC increase in production after the July 4 holiday on Monday closed trading. Brent futures were up
05-07-2016

3 Mins Daily Market Report

Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.  Brent crude futures were trading at $50.58 per barrel at 0938 GMT, up 23 cents from their last settlement. U.S. crude was up 17 cents at $49.16.  U.S. markets are closed on Monday for the U.S. Independence Day holiday. The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of pr
04-07-2016

3 Mins Daily Market Report

Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading towards balance.  Brent for September delivery was up 17 cents at $50.52 a barrel by 2247 GMT on Sunday, after settling up 64 cents at $50.35 on Friday. NYMEX crude for August delivery was up 5 cents at $49.04 a barrel, after closing up 66 cents, or 1.4 percent, on Friday.  There will be no WTI settlement on Monday as U.S. financial and commodity markets are
01-07-2016

3 Mins Daily Market Report

Oil prices rose early on Friday, with Brent jumping back above $50 per barrel, as investors positioned themselves for more price increases this year in expectation of a tighter market. International Brent crude oil futures were trading at $50.04 per barrel at 0026 GMT, up 33 cents from their last settlement. U.S. West Texas Intermediate (WTI) crude was up 28 cents at $48.61 a barrel. Traders said the higher prices were a result of a tightening physical market, in which large oversupply tha
30-06-2016

3 Mins Daily Market Report

Oil prices jumped more than 3 percent on Wednesday after the U.S. government reported a larger-than-expected weekly drawdown in crude inventories, adding fuel to an existing rally on fading concerns over Britain's exit from the European Union.  Brent crude futures were up $1.79, or 3.7 percent, at $50.38 per barrel. U.S crude settled $2.03 higher, or 4.24 percent, at $49.88 a barrel. The potential for an oil workers strike in Norway and a crisis in Venezuela's energy sector also added supp
29-06-2016

3 Mins Daily Market Report

Oil prices closed higher Tuesday as investors bought back into the market after a two-day rout triggered by Britain's vote to leave the European Union. Brent crude futures traded $1.44, or 3 percent, higher at $48.61 per barrel. The contract earlier peaked at $48.58. U.S. West Texas Intermediate (WTI) futures settled $1.52 higher, or 3.3 percent, at $47.85. It hit a session high of $47.81 earlier in the session. The benchmarks fell nearly $4 a barrel in the past two sessions, with Brent hi
28-06-2016

3 Mins Daily Market Report

Oil prices fell about 3 percent on Monday, weighed by a rallying dollar and continued market uncertainty over Britain's shock vote to exit the European Union.  Brent traded at $47.53, down $0.88 or 1.82 percent in after hours, while U.S. crude settled at $46.33, down $1.31 or 2.75 percent. Brent and U.S. crude futures have lost about 7 percent since Thursday's settlement after the so-called Brexit vote sent global risk assets plummeting on Friday as investors fled to safe havens such as th
27-06-2016

3 Mins Daily Market Report

Oil prices settled 5 percent lower on Friday after Britain's vote to leave the European Union spurred massive risk aversion and a rally in safe havens like the U.S. dollar that threatened to cut short a three-month-long recovery in global oil markets.  Brent crude settled down 4.9 percent, or $2.50, at $48.41 a barrel. It had fallen 6 percent earlier to $47.54. U.S. crude fell 5 percent, or $2.47, to settle at $47.64, its largest one-day decline since February. Financial markets have been
24-06-2016

3 Mins Daily Market Report

Oil prices rose in volatile trade on Thursday, with investors less worried about prospects for the global economy after the last pre-vote opinion polls showed Britain was likely to remain in the European Union. Brent crude was up $1.02 cents, or 2.04 percent, at $50.90 a barrel. During the session it rose as much as 2 percent, hitting an intra-day high of $50.90. U.S. crude settled up 98 cents, or 1.99 percent, at $50.11 a barrel, and last traded up 67 cents, or 1.36 percent at $49.80. Oil
23-06-2016

3 Mins Daily Market Report

Oil prices extended their losses on Wednesday, falling after a smaller-than-expected U.S. inventory drawdown and jitters ahead of a vote on whether Britain should stay in the European Union. On Wednesday, Brent futures were down 74 cents, or 1.46 percent, at $49.88 a barrel by 2:30 p.m. EDT. They fell 1 percent shortly after the EIA data, climbing hitting a session high of $51.24 early in the New York session. U.S crude futures settled down 72 cents, or 1.44 percent, at $49.13 a barrel.  C
22-06-2016

3 Mins Daily Market Report

Oil prices reversed their losses in post-settlement trade after API data showed a bigger-than-expected draw on inventory. Brent crude futures' front-month, August, settled down 3 cents at $50.62 a barrel, after falling more than $1 to a session low of $49.46. The contract had gained 7 percent in the last two sessions. U.S. crude's expiring July front-month contract closed down 52 cents, or 1 percent, at $48.85 a barrel, versus a session low at $48.16. The more actively-traded August futures,
21-06-2016

3 Mins Daily Market Report

U.S. oil prices rose nearly 3 percent on Monday as polls showing a lower likelihood of Britain leaving the European Union weakened the dollar, boosting commodities priced in the U.S. currency. August Brent crude futures were up $1.38, or 2.8 percent, at $50.55 a barrel. The contract has risen more than 6 percent since Thursday's settlement, after falling 10 percent in six previous sessions. U.S. crude for July delivery, which expires on Tuesday, settled 2.9 percent higher, or $1.39, at $49.37
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