Technical & Fundamental Oil Reports Specialists

Follow us

Overnight news 08/06/2012

Published Friday, June 8th, 2012

Good morning, 07:30 am London time

 

July Brent: 98.31 (-1.64)

July WTI 82.80 (-2.02)

June Gasoil: 848.25 (-10.50)

£/$: 1.5490

Euro/$ 1.2524

 

World News:  

-Asian shares fall on Friday on the back of Bernanke’s remarks, suggesting no QE, and commodities follow suite, as investors flee to the dollar.

-UN monitors came under fire yesterday in Syria while trying to investigate the recent massacre.

-IMF announces Spanish banks will need 40 billion euros to recapitalize, as Merkel announces Europe is ready to react to ensure Eurozone prosperity.

-Spain’s credit rating was cut by three notches on Thursday by Fitch, from A to BBB with a negative outlook.

-Mitt Romney and the Republican party raised more than $76.8M in May, around $16M more than Obama managed to raise, while Democratic worries amount.

-US Defence Secretary Panetta said Thursday the US was reaching limits of patience with Pakistan due to safe havens the country provides for terrorists.

 

Oil News:

-US crude and Brent fall as Bernanke suggests no QE is on the way tempering early gains by Chinese cuts in interest rates.

-China’s energy companies are reducing purchases of overseas unconventional oil and gas assets after two years of aggressive investment.

-Motiva’s 233,500 bpd refinery in Louisiana reported hydrogen sulphide emissions.

-Total’s CEO announced they maintain target of a 2.5% annual increase in oil and gas production, and expects Elgin restart before end of 2012.

 

Brent

WTI

WTI/Brent

Gasoil Cracks

Gasoil

Front

0.42

0.43

-0.33

-0.32

-15.49

-15.43

14.97

15.01

4.00

4.25

Second

0.25

0.26

-0.33

-0.32

-14.74

-14.67

15.16

15.24

1.50

1.75

Third

0.34

0.35

-0.35

-0.34

-14.17

-14.07

15.31

15.41

0.25

0.50

m/z

5.75

6.25

z/z

2.05

2.15

-1.20

-1.12

-12.53

-12.40

15.63

16.07

2.75

6.75

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.


Post a Comment