West African crude oil differentials eased a little on Thursday, under pressure from an ample supply of Nigerian cargoes still available for July and as demand eased both east and west. For full story, click here
Gazprom Chief Executive Alexei Miller declared that a shortage of oil and gas investment means the sector will fail to meet demand when the international economy begins to recover. For full story, click here
Crude oil demand has begun to recover, as stockpiles are drawn down, but distillate inventories remain bloated, with traders banking on cheap freight to store excess supplies on vessels. For full story, click here
Japan may be forced to shut more than a fifth of its refining capacity, at least 1 million barrels per day, in the next five years as oil demand slipped faster than expected. For full story, click here
China’s April crude oil imports have seen the first monthly rise of the year and hit the second-highest record on a daily basis, providing more evidence that oil demand in the world’s No.2 energy user is picking up. For full story, click here
Crude oil surged after an industry report showed that US supplies of the fuel declined by one million barrels last week, increasing optimism that energy demand will recover soon. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Crude oil futures dipped on weak global cues amid fears that an outbreak of swine flu globally would hurt oil demand. For full story, click here
China consumed 31.26 million metric tons of crude oil in March, down a minor 0.25% from the corresponding month of 2008, a Platts analysis of official data showed April 22. For full story, click here
U.S. demand for oil dropped by more than three percent during the first three months of the year to the lowest level for the first quarter period in more than a decade, API data shows, reflecting a drop in economic activity because of the recession. For full story, click here
Get our independent commentary on oil trends and companies delivered to your inbox.
