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Overnight headlines 28/06/2012

Published Thursday, June 28th, 2012

Good morning, 07:30 am London time

 

Aug Brent: 93.46 (-0.04)

Aug WTI 80.59 (0.38)

July Gasoil: 830.75 (1.75)

£/$: 1.5586

Euro/$ 1.2491

 

World News:  

-Asian stocks rise as positive Japanese retail sales and US home sales and durable goods orders give market confidence.

-Today’s EU summit sees Merkel fight with Italy and France against joint liability for each other’s debt.

-Top Federal Reserve officials have made differed comments about economic growth, indicating more QE is not as certain.

-Russia and big powers told UN’s Annan that they would back a Syrian national unity cabinet.

 

Oil News:

-US crude gains closing at highest price in one week as US home sales and durable goods orders beat forecast.

-Brent crude advanced in London as Norwegian workers strike halts 15% of the country’s oil output.

-National Shipping Co. of Saudi Arabia and Saudi Aramco sign agreement to merge fleets in a combination of $1.3 billion.

-Japan’s crude oil imports are up 7.1% in May according to Japan’s Ministry of Finance.

 

Brent

WTI

WTI/Brent

Gasoil Cracks

Gasoil

Front

-0.03

-0.02

-0.39

-0.38

-12.91

-12.87

17.26

17.39

5.25

5.50

Second

0.17

0.18

-0.40

-0.39

-12.55

-12.49

16.83

16.97

3.00

3.25

Third

-0.04

-0.03

-0.45

-0.44

-12.00

-11.93

16.82

17.04

1.00

1.25

z/m

-0.09

-0.03

-1.83

-1.76

3.50

4.25

z/z

0.65

0.70

-1.99

-1.79

-11.17

-11.15

16.34

16.58

-3.00

-0.25

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.