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Overnight news 17/05/2012

Published Thursday, May 17th, 2012

Good morning, 07:30 am London time

 

July Brent: 109.73 (-0.02)

June WTI: 93.57 (0.76)

June Gasoil: 926.25 (-5-.25)

£/$: 1.5924

Euro/$ 1.2741

 

World News:  

-ECB stopped offering liquidity to certain Greek banks as concern about Eurozone grows along with risk of contagion.

-The Euro fell to a four month low yesterday, but edged up this morning, although Greek banks might need emergency funding needs.

-North Korea has restarted their construction work to extend their capacity to produce more material for nuclear weapons.

-Iran has been seen installing more centrifuges in an underground plant although haven’t been seen using them yet, ahead of Baghdad talks.

 

Oil News:

-Enbridge Inc. added $3 billion to an oil pipeline expansion in an aim to transport western Canadian crude to Eastern pipelines.

-Iran may look for parliamentary approval to provide sovereign insurance to tankers importing Iranian crude.

-US senate democratic leader Reid will ask the chamber to approve new measures of oil and economic sanctions on Iran to add further pressures on the country.

-Argentina’s YPF will comply with NYSE rules naming a new audit committee once the new board of directors is seated in June.

 

Brent

WTI

WTI/Brent

Crack

Gasoil

Front

0.46

0.47

-0.39

-0.38

-15.80

-15.71

2.75

3.00

Second

0.51

0.52

-0.28

-0.27

-15.08

-14.95

14.23

14.29

0.75

1.00

Third

0.53

0.54

-0.28

-0.26

-14.29

-14.16

14.54

14.65

0.00

0.25

m/z

-1.54

-1.52

5.50

6.00

z/z

4.46

4.50

1.88

1.95

-12.44

-12.28

16.07

16.15

22.50

23.75

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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