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Overnight headlines 13/09/2012

Published Thursday, September 13th, 2012

Good morning, 07:30 am London time

 

Oct Brent: 115.85 (-0.11)

Oct WTI 96.96 (-0.06)

Oct Gasoil: 1004.75 (-1.00)

£/$: 1.6115

Euro/$ 1.2923

 

World News:  

-Asian stocks rose this morning as did the Euro, amid speculation de Federal Reserve will present a bond buying program after the meeting today.

-In 11 weeks the Standard & Poor’s GSCI spot index has risen 22% from its 2012 low, as commodities are seen turning to a bull market.

-Obama and his Libyan counterpart agree to work closely to investigate attack on US embassy.

-Centre right Liberals in Holland have won the general elections led by Dutch Prime Minister Mark Rutte.

 

Oil News:

-Brent crude trades steady around $116 ahead of Federal Reserve meeting today.

-Iran has been seen using a small port off East Malaysia to hide millions of barrels of oil from Western sanctions, according to Reuters.

-Norway’s preliminary August oil production seen at 1.51M bpd.

-Norway’s preliminary August gas production 8.2 bln cu meters.

-BP’s 225,000 bpd refinery in Cherry Point, WA reported a sulphur dioxide release.

 

Brent (-)

WTI (=)

WTI/Brent(-)

Gasoil Cracks (-)

Gasoil (=)

Front

0.55

0.57

-0.33

-0.32

-19.00

-18.84

18.80

18.96

3.50

3.75

Second

0.46

0.47

-0.33

-0.32

-18.04

-17.97

18.94

18.99

5.75

6.00

Third

0.40

0.41

-0.43

-0.42

-17.26

-17.16

18.61

18.69

4.75

5.00

z/m

2.97

3.00

-1.25

-1.21

33.75

34.00

z/z

6.13

6.22

0.51

0.64

47.00

48.75

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