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Overnight news 07/06/2012

Published Thursday, June 7th, 2012

Good morning, 07:30 am London time

 

July Brent: 100.56 (-0.08)

July WTI85.15 (0.13)

June Gasoil: 864.25 (-1.25)

£/$: 1.5489

Euro/$ 1.2577

 

World News:  

-Spain’s bond auction today is aimed to raise between one and two billion euros amid banking crisis.

-A dip in British Manufacturing activity and worsening Eurozone problems have renewed the talks in the BoE for more economic stimulus.

-Syrian troops are accused by opponents of killing another 78 people in a new massacre before a UN security council meeting.

-Iran’s IAEA envoy said it will not allow national security to be jeopardized by IAEA inspectors working for Western intelligence agencies.

-Chavez will register himself for re-election next Monday, as he battles the cancer.

 

Oil News:

-US crude advances for a fourth day as US and European governments suggest they may take action to boost economies and Iran said it will stand firm on nuclear talks. Brent follows suite and closes above $100.

-Enbridge shut its 609,000 bpd oil pipeline in Midwest US for routine maintenance.

-Canadian heavy crude spreads widened due to refinery maintenance and tight pipeline capacity as expectations suggest TransCanada will have flow limits on Keystone pipeline.

-Fire broke out at the Gramercy LA Petroleum Coke refinery yesterday.

 

Brent

WTI

WTI/Brent

Gasoil Cracks

Gasoil

Front

0.51

0.52

-0.31

-0.30

-15.44

-15.38

14.72

14.74

4.75

5.00

Second

0.36

0.37

-0.31

-0.30

-14.63

-14.55

14.88

14.97

2.25

2.50

Third

0.43

0.44

-0.31

-0.30

-13.96

-13.87

15.14

15.25

0.75

1.00

m/z

8.00

8.50

z/z

2.60

2.76

-0.52

-0.40

-12.20

-12.08

15.76

16.16

6.25

8.00

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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