Tag Archives | Trading

Middle East financial markets ignore the violence

Equities markets in the Middle East closed mostly higher Wednesday, but were mostly oblivious to the attack on the U.S. embassy in Egypt and violence that has claimed the life of a U.S.ambassador in Libya. On Wednesday, the Egypt EGX 30 stock market index (XX:EGX30) edged up by 0.5%. In Saudi Arabia, the Tadawul All Share […]

Med Crude-Urals strengthen, Azeri weakens

Spot differentials for Russian Urals firmed further on Thursday on Czech demand and the end of Polish PKN maintenance, a large sour crude consumer, while Azeri Light showed weakness after a window offer received no bids.  Russian Urals was absent from the Platts window but Socar offered a cargo of Azeri Light down to dated […]

Med Crude-Trade thin, sweet weak on ample supply

Trade in the Urals crude market remained thin for a  second day on Wednesday due partly to holidays in Russia while the open arbitrage from Northwest Europe to the Mediterranean pushed up differentials.  Sweet barrels came under further pressure with prompt offers from Libya and overhang of Nigerian sweet crude.       URALS  There were no […]

Obama oil margin plan could increase price swings

President Barack Obama’s bid to dampen the influence of oil speculators by having regulators set trading margins could backfire, potentially making prices even more volatile and leaving crude dominated only by those with the deepest pockets. Under Obama’s request to Congress, the Commodity Futures Trading Commission (CFTC) would determine how much speculators need to pay […]

WAfrica Crude-Ample supplies depress Nigerian grades

Demand for Nigerian crude improved slightly on Wednesday but traders said differentials were yet to recover because of a large overhang of cargoes for April and May. Glencore sold a cargo of Akpo crude oil to India’s BPCL at a small premium to dated Brent, but traders said the rest of the cargoes for the […]