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Overnight headlines 30/05/2012

Published Wednesday, May 30th, 2012

Good morning, 07:30 am London time

 

July Brent: 106.29 (-0.39)

July WTI: 90.36 (-0.40)

June Gasoil: 900.75 (-10.25)

£/$: 1.5615

Euro/$ 1.2464

 

World News:  

-Asian shares have slipped and the euro hits an almost two year low on fears of Spanish bank crisis reaching unsustainable levels rises.

-At least seven Western nations expelled Syrian diplomats from their capitals as outrage for the massacre increases.

-There are supposedly still no signs of Russia or China joining the UN to support tougher actions against Syria, diplomat says.

-Romney sealed Republican presidential nomination with Texas landslide, with five months to election.

 

Oil News:

-US crude fell for a second day and nears the biggest monthly drop in two years with fears of a possible US stockpile increase.

-Iraq stated its fourth energy bidding round auctioning 12 oil and gas exploration blocks.

-Premcor’s 287,000 bpd refinery in Port Arthur, Texas, reported a trip caused by failed controller on a tail gas unit.

-Japan’s crude imports from Iran fell 65.5% year on year, Finance Ministry data showed.

 

Brent

WTI

WTI/Brent

Gasoil Cracks

Gasoil

Front

0.47

0.48

-0.32

-0.31

-16.00

-15.94

13.94

13.98

4.25

4.50

Second

0.37

0.38

-0.31

-0.30

-15.29

-15.22

14.16

14.28

1.00

1.25

Third

0.47

0.48

-0.25

-0.24

-14.61

-14.52

14.53

14.70

-0.25

0.00

m/z

5.50

6.00

z/z

3.98

4.00

0.81

0.96

-12.88

-12.78

15.49

15.97

16.00

17.75

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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