Page 63 - Dated Brent News Today

Real Oil Price Rally Fades as Asia’s Buying Spree Winds Down Bloomberg 12/22/2020 Sharon Cho and Sherry Su (Bloomberg) -- A rally in the physical oil market is losing steam as Asian refiners ease purchases after an earlier-than-usual buying spree. Popular Searches Many processors in the region have almost fulfilled their needs for spot cargoes that will be mostly loaded in January and February, according to traders. Asian demand had driven up the price of real barrels of oil...

Market fundamentals don’t support current oil prices The recent increase of crude oil futures prices to the highest level since early March was mostly driven by upbeat sentiment around COVID-19 vaccines but not market fundamentals, according to multiple research institutions and firms. The understandable euphoria around the start of the vaccination program partially explains higher oil prices but it will be several months before the advent of mass inoculation to economically active people and...

Urals oil price above $50/bbl, traded with discount vs. Brent — S&P Global Platts The last time it was traded at this level was in February 2020, according to the agencys data © Alexei Andronov/TASS MOSCOW, December 16. /TASS/. Russia’s Urals export oil blend price was above $50 per barrel this week for the first time since February but the feedstock is traded with a discount against Brent oil blend, S&P Global Platts told TASS on Wednesday. Read also "The CIF Rotterdam Urals differen...

Fire halts crude exports from Nigeria’s Qua Iboe terminal Crude loadings of Nigeria’s key crude Qua Iboe have been temporarily halted due to a fire at the terminal, traders and Nigeria-based sources said Dec. 14. Qua Iboe is Nigeria’s largest export grade and popular among global refiners, with India, the US, Canada, Italy, Spain, Indonesia, and the Netherlands being key buyers. “There was a [fire] explosion yesterday and liftings have been suspended. I suspect it should be back by end ...

Kuwait’s KPC lowers January crude OSPs to US, Europe; raises prices to Asia Kuwait Petroleum Corp. lowered its January official selling prices for crude bound for the United States and Europe, while it raised prices of barrels headed Asia, according to a notice seen by S&P Global Platts Dec. 10. KPC decreased its Kuwait Export Crude delivered to USGC by 30 cents/b to a $1.40/b premium to the Argus Sour Crude Index, or ASCI. The FOB KEC to the US also was lowered by 30 cents/b to ASCI plus 10 ...

In the futures market, crude oil for December delivery touched an intraday high of Rs 3,480 and an intraday low of Rs 3,433 per barrel on MCX.