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Overnight news 17/04/2012

Published Tuesday, April 17th, 2012

Good morning, 07:30 am London time


June Brent: 118.26 (-0.42)

May WTI: 102.77 (-0.16)

May Gasoil: 992.00 (-2.00)

£/$: 1.5887

Euro/$ 1.3118



World News:  

-IMF’s Lagarde hopes to gain a consensus on another $400 billion rise in the fund’s power sometime this week.

-China’s FDI (foreign direct investment) was down 6.1% from a year ago to $11.8 billion.

-Earlier this morning an Earthquake shocked Chile’s capital Santiago. No deaths or major damages reported. No tsunami alert.

-US President Obama welcomes the choice of Jim Yong Kim for the World Bank presidency.

-US Defense Secretary Panetta says the US Intelligence reports suggested a high profile attack on Afghanistan was being planned.


Oil News:

-Argentina’s government has taken over YPF, while Spain claims it is a hostile decision against Spain and Repsol.

-Repsol has claimed its net debt has been reduced by 1.6 billion euros after Argentina’s take-over of YPF.

-Motiva Enterprises has reported a hydrocracker shutdown at their 234,700 bpd Refinery in LA.

-US EIA has said the national US gasoline price fell 1.7 cents to $3.92/gallon last week.

-Shell has announced outages yesterday at their 75,000 bpd refinery in Sarnia, Ontario.


Spreads:  m/n 24/25, n/q 36/37, q/u 49/51, m/z 2.71/2.78, z12/z13 6.59/6.64.

Wti Spreads:  k/m -45/-44, m/n -43/-42, n/q -36/-34, m/z -1.27/-1.23, z12/z13 3.14/3.29.

Arbs:  jun -15.06/-15.02, jul -14.38/-14.34, aug –13.65/-13.61, dec -11.07/-10.98.

Crack Spreads: jun 14.64/14.68, jul 14.71/14.84, aug 14.99/15.15, dec 16.03/16.56.

Gas Oil Spreads: k/m 1.50/1.75, m/n 0.75/1.00, n/q 0.25/0.50, m12/z12 6.75/7.50, z12/z13 35.75/39.25.

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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