Page 3 - Commodity Arbitrage News Today

Nigeria will offer a naira incentive to import U.S. dollars through certain licensed channels, the central bank said, in a push to shore up the country's dollar supply.

Nigerian state oil company NNPC has extended until June its contracts with private companies to swap crude oil for fuels, a company spokesman told Reuters.

6 Min Read SINGAPORE/NEW YORK/LONDON (Reuters) - Global oil and fuel prices are picking up as demand returns to pre-pandemic levels amid easing coronavirus lockdowns in key countries like China and India and signs of increasing road travel in several countries. FILE PHOTO: FILE PHOTO: A gas pump at an Arco gas station in San Diego, California, U.S. July 11, 2018. REUTERS/Mike Blake/File Photo/File Photo/File Photo Gasoline prices in Asia, Europe and the United States all scaled 1-year highs th...

* Offshore Singapore stocks hit record low -analyst * Supply tightness could be theme for fuel oil market in 2021 -analyst SINGAPORE, Feb 11 (Reuters) - Supported by shrinking supplies and firm demand, Asian refiners’ profit from producing very low sulphur fuel oil (VLSFO) rose to a one-year high this week, setting the stage for a trend that could persist throughout the year, traders and analysts said. “Tightness in the fuel oil complex will remain a common theme through 2021, especially as...

Qatar Petroleum (QP) aims to build a trading desk to rival oil majors and trading houses and to help smooth out spot gas price spikes, the chief executive of the world’s largest LNG producer told Reuters.

2 Min Read FILE PHOTO: Birds fly past the logo of Indias state-owned natural gas utility GAIL (India) Ltd installed on its corporate office building in New Delhi, India, April 26, 2018. REUTERS/Adnan Abidi/File Photo NEW DELHI (Reuters) - Gas firm GAIL (India) Ltd expects to end overseas sales of the liquefied natural gas (LNG) it secures from the United States from 2023, as local demand rises with the commissioning of new fertiliser plants, a company official said. GAIL buys 5.8 million tonnes...

(New throughout, adds interview) MOSCOW/LONDON, Feb 8 (Reuters) - Demand for aluminium is extending its recovery so far this year despite a second wave of COVID-19 lockdowns, an executive at Russian aluminium producer Rusal said on Monday. “Demand is still strong in many sectors, especially automotive, packaging, construction,” Roman Andryushin, head of sales and marketing, said in an interview. “In the fourth quarter of last year we had clear signs of restocking to fill gaps in supply ch...

Brent crude prices are approaching $60 a barrel, a one-year high, driven in large part by OPEC+ cuts that are set to keep the oil market in deficit this year.

By Reuters Staff 3 Min Read (Reuters) - Iran’s Revolutionary Guards Corps seized a South Korean-flagged tanker in Gulf waters and detained its crew, Iranian media said on Monday, amid tensions between Tehran and Seoul over Iranian funds frozen in South Korean banks due to U.S. sanctions. A South Korean-flagged tanker vessel which was seized by Iran. is seen in Gulf, Iran January 4, 2021. IRGC / WANA (West Asia News Agency) via REUTERS Below are details about the Strait: WHAT IS THE STRAIT OF...

1 Min Read LONDON (Reuters) - More loading programmes for Nigerian crude in March were issued on Friday while differentials appeared to be under downward pressure from ample supplies in February. NIGERIA * Bonny Light is loading six cargoes in March, while Forcados is loading seven full cargoes and two partial shipments, traders said. Even so, March supply of four main grades is set to be lower than in February. * Differentials have been coming down this week due to ample supply as Qua Iboe exp...