China to Increase Iraqi Crude Imports by Two-Thirds in 2014

By Meeyoung Cho and Jane Chung DAEGU, South Korea, Oct 16 (Reuters) - Iraq said China is seeking to increase purchases of its crude by more than two-thirds next year, stepping up the rivalry between Baghdad and top exporter Saudi Arabia for a bigger slice of the growing Asian market. Rapid increases in Iraq's oil output after years of unrest have helped cushion oil … [Read more...]

Lacklustre Demand Weighs On Spot Prices for West African Crude

GENEVA, May 24 (Reuters) - Angolan and Nigerian differentials were under pressure on Friday as some Asian refiners snubbed west African grades in favour of light, sweet crude from other regions. Earlier this week, India's Mangalore Refinery and Petrochemicals (MRPL) opted to purchase Omani and Yemeni crude oil instead while Petral was also heard to have sourced July crude … [Read more...]

As Russian Refineries Head into Maintenance, Baltic Crude Exports Could Rise [REPORT]

LONDON - Russian Urals crude strengthened in the Baltic after loading dates for early March showed a possibility of lower-than-usual volumes. Urals exports are expected to shrink in early March, but could increase later in the month due to heavy maintenance schedules at domestic refineries, traders said on Friday. Urals supplies from the Baltic ports of Primorsk and Ust-Luga … [Read more...]

Crude Futures Spike After Bus Explodes in Tel Aviv

(Bloomberg) -- Oil rose after a blast on a bus in Tel Aviv injured at least 10 people, boosting speculation that the conflict between Israel and the Palestinians of Gaza may disrupt crude supply from the Middle East. Futures climbed as much as 1.3 percent after the explosion near the military headquarters in Israel’s commercial hub. Egyptian plans to announce a … [Read more...]

Six Vessels Booked To Store Crude Off Gulf Of Mexico – ICAP

LONDON (Dow Jones)--The number of ships storing crude off the U.S. Gulf Coast has risen to six, shipbroker ICAP said Friday in a note. Three very large crude carriers and three Suezmax tankers are currently chartered as storage vessels, ICAP showed in a table of VLCC storage. There has been a resurgence in the use of vessels for floating storage off the Gulf coast in the … [Read more...]