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Overnight news 25/04/2012

Published Wednesday, April 25th, 2012

Good morning, 07:30 am London time


June Brent: 118.27 (0.11)

June WTI: 103.67 (0.12)

May Gasoil: 997.50 (1.50)

£/$: 1.6140

Euro/$ 1.3195


World News:  

-ECB’s Gonzalez-Paramo says Spain’s Treasury Ministry will cover their 2012 financial objectives.

-Goldman Sachs maintains a neutral short-term neutral stand on commodities complex as a whole.

-US home purchases declined at a 328,000 annual rate, or a 7.1% decline.

-US and Philippine troops staged a mock assault in a small South China Sea Island in energy rich waters that has been disputed with China. There have been previous disputes of that Island between China and Philippines.


Oil News:

-State run Libyan news agency warned of a possible cease in production due to protests outside main offices.

-Japan crude oil stocks up 0.35M KL to 15.99M in week To April 21.

-Japan gasoline stocks rise 27,000 KL to 2.20M KL in same week.


Crude stocks down 985,000 bbls

Gasoline stocks down 3.64M  bbls

Distillates down 3.56M bbls

Crude run up 177,000 bbls

Crude stocks at Cushing 565,000 bbls.


Spreads:  m/n 22/23, n/q 31/32, q/u 41/42, m/z 2.36/2.40, z12/z13 6.42/6.48.

Wti Spreads:  m/n -40/-39, n/q -36/-34, q/u -26/-24, m/z -1.37/-1.33, z12/z13 3.30/3.46.

Arbs:  jun -14.60/-14.59, jul -14.00/-13.95, aug –13.34/-13.28, dec -10.95/-10.70.

Crack Spreads: jun 15.02/15.09, jul 15.00/15.09, aug 15.26/15.40, dec 16.09/16.70.

Gas Oil Spreads: k/m 3.50/3.75, m/n 1.50/1.75, n/q 0.25/0.50, m12/z12 6.00/6.25, z12/z13 35.75/37.50.

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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