Technical & Fundamental Oil Reports Specialists

Follow us

Overnight news 18/05/2012

Published Friday, May 18th, 2012

Good morning, 07:30 am London time

 

July Brent: 106.83 (-0.60)

June WTI: 92.16 (-0.40)

June Gasoil: 906.75 (-11.75)

£/$: 1.5761

Euro/$ 1.2683

 

World News:  

-German 10 year bond yields hit record low of 1.397%, down 2.6 bps on day.

-UN panel of experts is investigating a possible weapon deal between North Korea and Syria.

-Obama will meet Hollande today for a G8 meeting where the European economic crisis will be main topic.

-Greek pre-election polls suggest the voters will return to the parties that negotiated the bailout.

-Moody’s cut the rating of 16 Spanish banks as the country’s borrowing costs drifted up at bond auction yesterday.

 

Oil News:

-US crude falls for the sixth day, heading for third weekly decline as Eurozone crisis deepens and US economy slows down.

-Brent hits a 2012 low moving below $107.00 per bbl as Eurozone negative data and US slowing economy hit the market.

-Bloomberg survey shows US crude may continue to decline due to the reversal of Seaway Pipeline not being enough to reduce the overhang in central US.

-Japanese Trade Minister announced today that the government is looking at options to pay for oil imports from Iran.

-Valero’s 292,000 bpd refinery in Port Arthur, Texas reported a malfunction in a sulphur recovery unit.

 

Brent

WTI

WTI/Brent

Crack

Gasoil

Front

0.54

0.55

-0.38

-0.37

-14.36

-14.30

14.46

14.52

2.50

2.75

Second

0.50

0.51

-0.25

-0.23

-13.60

-13.49

14.89

15.03

0.50

0.75

Third

0.50

0.51

-0.24

-0.23

-12.86

-12.75

-0.50

-0.25

m/z

-1.42

-1.40

4.00

4.25

z/z

3.98

4.00

1.73

1.85

-11.15

-11.01

16.08

16.50

15.25

22.50

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.


Post a Comment