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Weekend headlines 11/06/2012

Published Monday, June 11th, 2012

Good morning, 07:30 am London time

 

July Brent: 101.32 (1.85)

July WTI 85.94 (1.84)

June Gasoil: 868.25 (22.75)

£/$: 1.5555

Euro/$ 1.2637

 

World News:  

-Asian stocks rise this morning and the euro follows suite reaching a two week high on Spain’s bailout package.

-The Eurozone agrees to lend up to 100 billion euros to Spain for its bank rescue fund.

-Republicans renew their attacks on Obama’s administration after new secret government information was leaked.

-First round of legislative elections in France shows Hollande’s Socialist party will have a strong majority in the National Assembly.

-China passenger cars sales rose 23% to 1.28M units last month, according to China Association of Automobile Manufacturers.

 

Oil News:

-US oil jumped the highest in five months on the back of the Spanish bailout plan.

-China’s crude imports are up by 10% at 5.98 million bpd, highest since previous record in February of 5.87 bpd.

-Sanctions on Iran have seen the fewest super tankers in eight months heading to the country due to the EU embargo.

-OPEC ministers to meet this week to discuss the group’s output.

 

Brent

WTI

WTI/Brent

Gasoil Cracks

Gasoil

Front

0.33

0.34

-0.30

-0.29

-15.40

-15.32

14.76

14.82

3.50

3.75

Second

0.17

0.18

-0.31

-0.29

-14.79

-14.69

14.87

14.93

1.75

2.00

Third

0.35

0.36

-0.34

-0.33

-14.32

-14.20

15.00

15.07

0.50

0.75

m/z

5.00

5.50

z/z

2.23

2.25

-0.89

-0.80

-12.58

-12.45

15.69

16.10

0.50

1.75

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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