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Overnight news 19/04/2012

Published Thursday, April 19th, 2012

Good morning, 07:30 am London time


June Brent: 118.35 (0.38)

May WTI: 102.58 (-0.09)

May Gasoil: 995.50 (10.00)

£/$: 1.6031

Euro/$ 1.3119


World News:  

-IMF chief has announced that member countries have already committed $316 billion and there’s more to come.

-At least 8 dead and 32 wounded in Iraqi cities of Baghdad, Baquba, Kirkuk, and Samarra after several explosions.

-UN chief Ban Ki-Moon tells Security Council that Syria hasn’t complied with the withdrawal of the troops.

-Japanese March exports are up 5.9% year on year.

-Japanese Crude oil import up 6.0% year on year.


Oil News:

-The US House of Representatives will vote to approve the Keystone XL Pipeline project federal transportation funding until September.

-Argentina will add Repsol Natgas Company to YPF expropriation.

-Exxon Mobil’s 344,500 bpd Beaumont Texas Refinery has reported a unit upset this morning.

-Japan’s Cosmo Oil will delay their 120,000 bpd refinery shutdown from original date of April 19th.

-China’s March Fuel stocks higher, while diesel stocks are up more than 2M tonnes.

-China’s Q1 Natgas imports are up 65.5% year on year.


Spreads:  m/n 17/18, n/q 33/35, q/u 51/52, m/z 2.63/2.65, z12/z13 6.54/6.73.

Wti Spreads:  k/m -46/-44, m/n -45/-44, n/q -38/-37, m/z -1.46/-1.43, z12/z13 3.01/3.25.

Arbs:  jun -15.30/-15.25, jul -14.70/-14.63, aug –13.98/-13.94, dec -11.20/-11.14.

Crack Spreads: jun 14.79/14.89, jul 14.74/14.89, aug 14.94/15.16, dec 15.99/16.65.

Gas Oil Spreads: k/m 3.00/3.25, m/n 1.25/1.50, n/q 0.50/0.75, m12/z12 6.00/6.75, z12/z13 37.25/38.75.

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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