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17-05-2016

3 Mins Daily Market Report

Oil prices hit six-month highs on Monday on worries about global supply outages and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures limited gains.  Brent settled up $1.14, or 2.4 percent, at $48.97 per barrel. It rallied to $49.47 earlier, its highest since early November, in a test towards $50. U.S. crude futures rose by $1.51, or 3.3 percent, to end at $47.72 after touching a six-month high at $47.85.
16-05-2016

3 Mins Daily Market Report

U.S. oil prices ended a three-day bull run on Friday, falling as a strong dollar made it more expensive to hold oil positions. Brent fell 30 cents to $47.78 per barrel. U.S. crude settled 49 cents lower, or 1.1 percent, at $46.21. That said, U.S. crude gained more than 3 percent for the week. The dollar was at a more than two-week high against a basket of currencies, weighing on greenback-denominated commodities such as oil futures and making fuel imports more expensive for countries using
13-05-2016

Poseidon Med II LNG Bunkering Workshop Held at Igoumenitsa

A Poseidon Med II technical workshop was held in Igoumenitsa Port on May 5 and 6 2016.
13-05-2016

3 Mins Daily Market Report

Oil prices stabilized on Thursday, though futures remained under pressure on signs of another storage build at the hub for U.S. crude futures. U.S. crude settled 1 percent higher, or 47 cents, at $46.70 on Thursday, having earlier hit $47.02, the highest level since early November.  Brent was trading at $47.99, up 0.8 percent. They were off an intraday high of $48.12. In early trade, U.S. crude's West Texas Intermediate (WTI) futures surged to a 2016 peak as the International Energy Agency
12-05-2016

3 Mins Daily Market Report

Oil prices jumped more than 3 percent on Wednesday after the U.S. government reported crude inventories fell unexpectedly for the first time since March, adding to concerns over supply disruptions in Canada and Nigeria.  Brent was up $1.98, or 4.3 percent, at $47.51 per barrel. U.S. crude futures settled 3.5 percent higher, or $1.57, at $46.23, a six-month high. The U.S. Energy Information Administration (EIA) said crude inventories fell 3.4 million barrels last week, compared with market'
11-05-2016

3 Mins Daily Market Report

U.S. oil rose nearly 3 percent Tuesday as supply disruptions of 2.5 million barrels per day in Canada and elsewhere offset concerns about growing record high U.S. crude stockpiles.  Brent up more than 4 percent, at $45.55. On Monday, it fell 3.8 percent.  U.S crude settled $1.22 higher, or 2.8 percent, at $44.66 a barrel. A series of attacks on Nigeria's oil infrastructure has pushed crude output close to a 22-year low in Africa's largest oil producer. In Canada alone, a wildfire that s
10-05-2016

Canada Wildfires Cause Over 1 Million BPD Loss of Oil Sands Production

Fire officials and premier are not willing to speculate on when production can resume after the massive fires
10-05-2016

No Freeze and Saudi Arabia Losing The Price War Are the Immediate Fallouts of Naimi Dismissal: Iran

Deputy Crown Prince Mohammed bin Salman is now firmly in control of energy policy
10-05-2016

3 Mins Daily Market Report

U.S. oil prices fell nearly 3 percent on Monday as traders assessed the impact of wildfires on Canada's oil output and after another reported inventory build at the U.S. hub for crude futures.  U.S. Crude closed down $1.22, or 2.7 percent, at $43.44 a barrel. Brent fell $1.76, or 3.8 percent, to $43.61 a barrel. The market rallied 2 percent earlier in the session as investors considered the daily loss of more than 1 million barrels per day in Canadian supply. Almost all of Canada's crude f
09-05-2016

3 Mins Daily Market Report

U.S. oil rose Friday as the dollar softened, but ended lower for the week, snapping a four-week winning streak. Brent futures were up 24 cents at $45.25 a barrel. West Texas Intermediate (WTI) futures settled 34 cents higher, or 0.8 percent, at $44.66, but closed lower for the week. Also on Friday, Baker Hughes reported the number of oil rigs operating in U.S. oilfields fell by 4 to a total of 328 in the previous week. At this time last year, drillers had 668 online. A wildfire that has
06-05-2016

New ECO Tanker "Symbolises the Emerging Direction of the U.S. Shipping Industry"

General Dynamics NASSCO says the 50,000 DWT newbuild LNG-ready product tanker, Independence, was delivered to SEA-Vista on Thursday.
06-05-2016

Saudi/Iran Spat Means No Freeze Talks at OPEC June Meeting - But None Required Anyway, say Delegates

Another spat between Saudi Arabia and Iran may have spoiled any chance of talks to revive crude output limits.
05-05-2016

Italy's Port of Augusta Tight on Low Sulfur MGO: Reports

Southern Italy's Port of Augusta is said to be experiencing dwindling low sulfur MGO supplies.
05-05-2016

3 Mins Daily Market Report

A bigger-than-expected build in U.S. crude inventories to fresh record highs pushed oil markets down after an early rally on Wednesday over concerns about production cuts in Canada's oil sands region.  Brent was down 25 cents at $44.72 per barre, after trading as high as $46.01. U.S. Crude settled 13 cents higher, or 0.3 percent, at $43.78, after hitting a session high at $44.88. WTI also snapped a three-day losing streak. U.S. crude stocks, which have been setting record highs since Janua
04-05-2016

Rotterdam IFO380 Edges Over $200/mt for First Time in Almost 6 Months

IFO380 in Rotterdam was last over $200 on November 12, 2015. The average pric
04-05-2016

Operations at Port Said's SCCT Terminal Halted After Fire

Operations are said to have been halted at the SCCT Terminal Tuesday as a result of an electricity safety issue after a container ship hit a gantry crane and sparked a fire.
04-05-2016

3 Mins Daily Market Report

U.S. oil prices fell more than 2 percent Tuesday, retreating swiftly from the year's highs hit last week, on renewed glut worries, a rebounding dollar and weaker global equities. Brent crude futures were down 79 cents, or 1.7 percent, at $45.02. U.S. crude futures were settled 2.5 percent lower, or $1.13, at $43.65 a barrel, falling for a third-straight day. Iraq said its oil shipments from southern fields averaged 3.364 million barrels per day (bpd) in April, up from 3.286 million in Marc
03-05-2016

3 Mins Daily Market Report

Oil prices dipped in early Asian trading on Tuesday on signs that production in the Middle East is continuing to rise, countering falls in U.S. output and threatening to keep a global supply overhang in place for longer.    Brent was trading at $45.68 per barrel at 0100 GMT, down 15 cents from its last close. U.S. crude futures were down 6 cents at $44.72 a barrel.  The dips came as Iraq, the second biggest exporter within the OPEC was the latest OPEC-member to announce its exports were
29-04-2016

3 Mins Daily Market Report

Oil prices hit fresh 2016 highs for a third day in a row on the back of a weak dollar as investors looked beyond record high U.S. crude inventories and relentless pumping by major producers.  Brent rose 93 cents to $48.11 per barrel, near their highest level since November. U.S crude settled at $46.03, up 1.5 percent, or 70 cents, marking its highest level since Nov. 4. The rally, partly driven by the 6-percent drop in the dollar this year, has persisted despite U.S. crude stockpiles growi
28-04-2016

3 Mins Daily Market Report

Oil prices moved higher on Wednesday after the Federal Reserve said it would leave interest rates unchanged, having earlier recouped losses after falling as U.S. crude inventories built to record highs.  Brent hit a new 2016 high following the release of the Fed's statement. They were up $1.45 at $47.19 a barrel. The international benchmark has risen nearly 20 percent in April, its largest one-month gain in a year. U.S. crude settled 2.93 percent higher, or $1.29, at $45.33, also hitting a ne
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