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Share Price Information for BP (BP.)

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Share Price: 485.20
Bid: 485.20
Ask: 485.30
Change: 3.50 (0.73%)
Spread: 0.10 (0.021%)
Open: 479.85
High: 485.35
Low: 479.05
Prev. Close: 481.70
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Europe Distillates-Diesel gains on French refinery strikes

Mon, 16th Dec 2013 17:46

By Ron Bousso

LONDON, Dec 16 (Reuters) - Diesel barge differentials innorthwest Europe rose on Monday, supported by uncertainty over astring of refinery strikes in France that threatened to tightensupplies.

Demand nevertheless remained meagre as oil majors offeredlarge volumes throughout the day with little buying interest,according to traders.

"There's no real demand on 10 ppm (particles per million) or50 ppm. It's quiet from end-users but some traders areinterested," one trader said.

Diesel barge and cargo differentials rose by around $1.50during morning trade as five of Total's Frenchrefineries remained shut due to strikes.

Unions at several of the refineries agreed later in the dayto end the strike, but the hardline CGT union did not announceits decision before the end of trading.

A similar picture appeared in the Mediterranean. Refineriesoperating at near-minimum rates have been unable to boost profitmargins as demand was thin, trader said.

Gasoil stocks at the Amsterdam-Rotterdam-Antwerp andFlushing storage hub fell by 2.5 percent to above 2.55 tonnes inthe week ended Dec. 6, data from research company Genscapeshowed.

Traders were assessing the impact of BP's rare tenderissued on Friday to buy 300,000 to 420,000 tonnes of diesel permonth in 2014 in northern Europe.

The tender was for delivery on a cost-insurance-freight(cif) basis and closes at the end of next week, according totraders.

Over the past weeks, Russian producers Rosneft and Lukoilsold diesel for next-year delivery at tenders at premiums oftendescribed by traders as unusually strong.

"BP is a large cif spot diesel buyer. This term tender isunusual and it looks like a move to assess how cif term pricescompare with cif spot because spot prices for next year lookaggressive," one trader said.

GASOIL

* No barges of 0.1 percent gasoil traded, with bid/offerscoming at a strong spread of minus $4 to minus $1 a tonne fobARA below the January ICE gasoil futures.

* Three barges of 50 particles per million (ppm) heating oiltraded at $4 a tonne fob ARA above the January gasoil futures.AST sold to Cargill.

* At 1700 GMT the January ICE gasoil futures contract was up $14.00 at $931.75 a tonne.

* The ICE gasoil crack was at $14.60 a barrel,down 35 cents from Friday.

* The January and February ICE gasoil futures contracts were in a small backwardation of 75 cents a tonne.

DIESEL

* Three barges of diesel traded at $15 a tonne fob ARA abovethe January gasoil futures. Gunvor and Shell sold to TPR.

JET FUEL

* BP sold to Shell the two barges that traded at $69 a tonnefob ARA above the January gasoil futures.

* No cargoes traded. BP bid for three cargoes, while Vitoloffered three, including one at $73 a tonne above Februarygasoil futures.

FUEL OIL

* Barges of low-sulphur fuel oil (LSFO) with 1 percentsulphur content traded at $606-$607 a tonne fob ARA.

* Barges of high-sulphur fuel oil (HSFO) with 3.5 percentsulphur content traded at $579-$581.50 a tonne fob ARA, up from$573-$575 a tonne on Friday.

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More ships carrying oil avoid Red Sea route

HOUSTON, Dec 22 (Reuters) - At least two ships transporting oil or oil products between the U.S. Gulf Coast and India on Friday were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.

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22 Dec 2023 19:24

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday.

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22 Dec 2023 19:20

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday. (Reporting by Terje Solsvik, editing by Essi Lehto)

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22 Dec 2023 11:00

US offshore wind poised for success next year after turbulent 2023

NEW YORK, Dec 22 (Reuters) - The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.

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20 Dec 2023 18:16

US Gulf of Mexico oil auction is largest since 2015

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.

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20 Dec 2023 17:37

US Gulf of Mexico oil auction raises $382 million in high bids

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised more than $382 million on Wednesday, the highest total for a federal offshore oil and gas auction since 2015.

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20 Dec 2023 17:00

Sustainable Finance Newsletter - This time it's different for US SEC climate rules

Dec 20 (Reuters) -

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20 Dec 2023 15:36

Shipping container price surge to reverse due to overcapacity -logistics platform

MUMBAI, Dec 20 (Reuters) - Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday.

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20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

(Sharecast News) - London's stock markets saw a notable upswing on Wednesday, driven by encouraging data revealing a greater-than-anticipated slowdown in UK inflation for November.

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19 Dec 2023 20:11

Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

LONDON, Dec 19 (Reuters) - Prices for Norway's Johan Sverdrup crude soared on Tuesday, a move traders said could be linked to mounting concerns around the security of crude flows into Europe following maritime attacks by Yemen's Houthis in the Red Sea.

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

*

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

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19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

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19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

(Sharecast News) - London's financial markets showed resilience on Tuesday, maintaining positive momentum despite the usual holiday slowdown.

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19 Dec 2023 13:18

UK warns of deteriorating security in Red Sea, Royal Navy ship joins taskforce

LONDON, Dec 19 (Reuters) - Britain warned that the security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region.

Read more

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