The Oil and Gas wrap provides the latest oil prices from commodity exchanges in New York and London, gives a summary of the main corporate and macroeconomic news impacting the price of oil, a barometer of the strength of global economy.


Oil prices subdued despite North Sea supply worries

January 16 2013, 3:42pm
Oil prices subdued despite North Sea supply worries

Brent Crude prices remain largely unchanged today despite concerns over the supply chain in the North Sea.

It emerged today that a leak has meant key oil export infrastructure, connecting to a total of 27 oilfields, meant that North Sea production has been constrained.

Despite this fact, Brent crude futures were up a mere 8 cents a barrel at $110.40. Meanwhile West Texas Intermediary futures were 20 cents higher.

Part of the reason for the oil price being capped is the re-surfacing of concerns over America’s economic stability, and European economic data also weighed heavily on sentiment.

Aside from that, the latest oil stockpile report from America’s Energy Information Administration later today will also be a key focus for the oil market.

Advertisement Register here to be notified of future articles.

No investment advice

The Company is a publisher. 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.