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Overnight headlines 18/09/2012

Published Tuesday, September 18th, 2012

Good morning, 07:30 am London time

 

Nov Brent: 112.80 (-0.99)

Oct WTI 96.17 (-0.45)

Oct Gasoil: 984.75 (-25.75)

£/$: 1.6251

Euro/$ 1.3100

 

World News:  

-Asian stocks fall this morning as Europe’s debt crisis continues and a slowing US economy.

-Japanese companies affected by protests in China are shutting down stores and plants; embassy suspends services in China.

-Moody’s changes outlook on Argentina from stable B3 to negative.

-Suicide attack on a minibus in Afghan capital kills 12 people on Tuesday, in retaliation for Mohammad film.

 

Oil News:

-Sell off late Monday may be due to unconfirmed rumours of a computer glitch after flat price drops around $4-5 in both WTI and Brent.

-CME Group has said they will not cancel any trades made during that time.

-Shell has been forced to stop plans to drill for oil near Alaska as a containment dome designed to cap spills is not yet fixed.

 

Brent (-)

WTI (+)

WTI/Brent(+)

Gasoil Cracks (-)

Gasoil (-)

Front

0.55

0.56

-0.32

-0.31

-16.34

-16.29

18.89

18.96

3.25

3.50

Second

0.47

0.48

-0.30

-0.29

-15.50

-15.42

18.62

18.70

5.75

6.00

Third

0.49

0.50

-0.32

-0.31

-14.71

-14.63

18.51

18.66

4.00

4.25

z/m

3.20

3.24

-0.76

-0.73

33.25

34.25

z/z

6.38

6.44

1.05

1.11

46.00

48.00

*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.