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API Report 28 March 2012

Published Wednesday, March 28th, 2012

Good morning, 7.00 am London time

 

May Brent: 124.95(-0.59)

May WTI: 106.63(-0.67)

Apr Gasoil: 1027.50(+1.75)

£/$: 1.59517

Euro/$ 1.33265

World News:  

-Syria’s opposition have agreed to name Syrian National Council as their representatives, calling President Bashar al-Assad to pull out tanks to show he was serious about peace.

-The UN’s human rights chief says that Syrian authorities are deliberately and systematically targeting children and worry’s for hundreds of children being held in detention.

-The west African regional body Ecowas has suspended Mali after last week’s military coup and pressed the coup to restore democracy.

-The head of the OECD has said the Eurozone needs to double its bailout fund to 1 trillion euros ($1.3tn, £836m).

 

Oil News:

-APIs

-Crude stocks up 3.6 mln bbls

-Gasoline stocks up 1.3 mln bbls

-Distillate stocks down 1.4 mln bbls

-Crude stocks at Cushing up 1.0 mln bbls

-Crude runs up 396,000 bpd

-India’s crude oil imports for February rose 10.7% year on year to 14.87 million mt or 3.74 million bpd, but down 12% from January reports the Petroleum Planning and Analysis.

-Japans crude stocks are up 4.5% to 101.95 million bbls as of week ending Mar 24 from 97.53 million bbls the previous week, reports PAJ.

-BP reports a flaring notice for Mar 28 through to Apr 2 at its 265,000 bpd Carson refinery LA. It did not provide details of units affected.

-Ecuador’s stat-run PetroEcuador says its exports fell 5.5% in February to 8.6 million bbls compared to same month last year.

-Total reports flaring at its 232,000 bpd Port Arthur refinery in Texas due to boiler trip from a neighbouring facility.

-Conciliation service Acas has invited trade unions and oil firms to talks in an attempt to avert a strike by tanker drivers that could disrupt supplies in the UK.

-The CAPP says it welcomes the expansion of Enbridge’s Flanagan South and Seaway pipelines as the ride of heavy crude output in Canada will have a welcome chance to meet US gulf coast refinery. demand.

-The Indonesian government invited bids from investors to explore and develop 19 oil and gas blocks through a tender, the nation’s energy ministry said.

 

Spreads:  k/m 74/75, m/n 66/67, n/q 68/69, m/z 430/433, z12/z13 829/833.

Wti Spreads:  k/m -52/-51, m/n -47/-46, n/q -36/-34, m/z -147/-143, z12/z13 392/399.

Arbs:  may -18.38/-18.31, jun -17.12/-17.05, jul -16.01/-15.91.

Crack Spreads: may 12.92/13.00, jun 13.64/13.72, jul 14.23/14.40,  dec 16.85/17.25.

Gas Oil Spreads: j/k -0.75/-0.50, k/m 0.25/0.50, m/n -0.25/0.00, m12/z12 5.50/5.75, z12/z13 47.00/49.50.

Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.


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