Technical & Fundamental Oil Reports Specialists

Follow us

Overnight headlines 30/08/2012

Published Thursday, August 30th, 2012

Good morning, 07:30 am London time

 

Oct Brent: 112.88 (0.34)

Oct WTI 95.30 (-0.19)

Sep Gasoil: 983.50 (5.00)

£/$: 1.5827

Euro/$ 1.2536

 

World News:  

-Asian stocks fall and wipe out monthly gains as Japanese retail sales and S Korean business confidence show economic slowdown, ahead of Bernanke speech tomorrow.

-Wen Jiabao Chinese premier said he is confident the Euro will survive its debt problems, but warns about global picture in economy.

-Chinese Central Bank will inject 54 bln yuan for this week while injecting 278 bln yuan last week.

-Isaac is set to become a tropical depression by tonight, easing energy risk in Gulf of Mexico.

-Italy is set to sell unlimited amount of 10 year bonds today at auction, although might have to accept yields over 6% to attract attention.

-Three soldiers killed by Afghan army shooting in southern Afghanistan.

 

Oil News:

-WTI dropped yesterday as Isaac weakens reducing the threat and US stockpiles rise.

-Brent trades around $112 per barrel as maintenance at North Sea fields continue and a possible strike in Norway’s oil sector limited losses.

-Pakistan State Oil will buy 1.14M tonnes of oil products for sep-dec delivery.

-Exxon Mobil’s 344,500 bpd refinery in Beaumont, TX reported a release of chemicals from a flare due to a leak today.

 

Brent (+/=)

WTI (-)

WTI/Brent (-)

Gasoil Cracks (+)

Gasoil (+)

Front

0.47

0.48

-0.32

-0.31

-17.64

-17.56

19.02

19.10

0.50

0.75

Second

0.42

0.43

-0.35

-0.34

-16.86

-16.77

18.83

18.97

4.50

4.75

Third

0.37

0.38

-0.43

-0.42

-16.09

-16.01

18.50

18.61

5.50

5.75

z/m

2.49

2.52

-0.89

-0.84

29.00

30.25

z/z

5.13

5.18

0.52

0.60

39.00

41.00

*Spreads are firmer (+), weaker (-) or unchanged (=) from yesterday’s values.

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.