UK 100 - 1 year chart
UK 100 - 1 week chart
Advertisement
Ransquawk

Sick of being the last to know what is moving the market? The team at RANsquawk speaks to analysts, journalists, brokers and traders worldwide, while constantly monitoring 30+ screens of independent feeds for potential market moving information.

Sign up for your free market squawk feed here
Pdf

ENERGY MARKETS REPORT INCLUDING: Winter Storm Iago will continue to spread both snow and rain across the South

January 18 2013, 11:30am
column image

WTI crude futures are trading flat on the day, paring overnight gains after China's GDP printed at 7.9%, beating market expectations of 7.8%. USD-strength has been observed in European trade during the morning, weighing on the energy complex.

Oil & Gas News

The IEA released their global forecast today and raised its demand estimate for OPEC crude by 100,000 BPD to 30mln BPD and expects global oil demand to rise by 1% to 90.8mln BPD in 2013. The IEA also said non-OPEC supply to advance to 54.3mln BPD this year and sees tighter oil market, citing US legislation preventing large-scale exports meaning domestic refineries will be unable to absorb increasing supplies.

The Brent pipeline system is now pumping oil as most oil fields resume output according to Taqa, after it had been shut following an offshore incident Monday.

Earlier today, Statoil said Norway gas export cut by 4.2mcm/d for 1 day.

Macquarie said they expect Brent-WTI spread to fall USD 8 per barrel in 2013.

Geopolitical News

Talks between Iran and and the UN atomic watchdog, the IAEA, have broken down without an agreement according to a diplomatic source with western powers suspecting Iran's nuclear program aims at developing nuclear weapons capability.

The hostage crisis at a gas facility in the Algerian desert has yet to be resolved, officials have said. The UK said the incident near Amenas was "ongoing" and Algerian state media said Islamist militants were holding foreign workers at a treatment plant.

Corporate News

Marathon oil today reported a leak or spill at their 206,000 BPD Robinson refinery.

ExxonMobil announced their fluid catalytic cracker has been shut at the 345,000 BPD Beaumont Refinery for planned maintenance with work expected to last several weeks.

ExxonMobil's 192,500 Chalmetter refinery has released emissions due to a leaking plug fin fan according to a filing.

Weather news

Winter Storm Iago will continue to spread both snow and rain across the South and into the Mid-Atlantic into early Friday. In the West, freeze warnings are in effect again in the San Joaquin Valley. During the weekend and early next week, a strong push of cold air will arrive in the Midwest and Northeast. Temperatures could fall below -20°F across the far upper Midwest.

 

Disclaimer:

The information within this website has been prepared and issued by Real-time Analysis & News Limited on the basis of publicly available information and other sources believed to be reliable. Whilst all reasonable care is taken to ensure that the facts stated are accurate, neither Real-time Analysis & News Limited nor any director, officer or employee shall in any way be responsible for its contents. This document is intended to provide clients with information and should not be construed as an offer or solicitation to buy or sell securities. No investment advice The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.