TOP Oil Market News: WTI Crude Falls Along With Chinese Exports

The following is a selection of the most important news affecting the oil market.

Brent, WTI Crude Fall as China Export Drop Signals Slow Economy

Brent and WTI crude fell for the first time in three days after exports from China unexpectedly shrank, stoking speculation that the world’s second-largest oil consumer may not reach its economic growth target.

Tanker Lifting Libya Rebel Crude Sends Warning Shot to Tripoli

Libya’s government vowed to prevent a tanker from leaving a rebel-held oil port as it struggles to reassert control over the nation’s main source of revenue.

Bullish Gasoline Bets Jump to Six-Month High as Plant Work Peaks

Bets on rising gasoline prices surged to a six-month high as seasonal refinery maintenance cut inventories before the switch to higher-grade summer fuel.

Taiwan’s CPC Seeks to Buy 11,000 Mt Each of Propane, Butane

Taiwanese refiner seeks to buy LPG for April 16-25 delivery to Kaohsiung or Shen-Ao, according to statement on its website.

CPC Said to Buy 80,000 Mt of Low-Sulfur Fuel Oil From Petrobras

Taiwanese refiner buys two cargoes from Brazil’s state oil co. for April delivery to Taiwan, according to two traders who asked not to be identified because the information is confidential.

Samsung Total Said to Buy April Naphtha at $10-$11/Mt Premium

Samsung Total buys 25,000 mt of naphtha for 2H April delivery to South Korea, say two traders who asked not to be identified because the information is confidential.

Lotte Said to Buy July 2014-June 2015 Naphtha at $5/Mt Premium

Lotte Chemical buys 400,000-500,000 mt of naphtha for July 2014-June 2015 delivery to South Korea, say two traders who asked not to be identified because the information is confidential.

Yemen Oil Sales Rise 13% in Jan. vs Dec., Central Bank Says

Jan. crude oil exports at 1.95m bbl vs 1.73m bbl in Dec.; Jan. average price $110.12/bbl, according to central bank report

REFINERIES Map global refinery outages

PetroChina Shuts Liaoyang Refinery CDU on High Stockpiles: ICIS

Crude unit with 3.5 mln mt/yr capacity shut since mid-Feb., Amy Sun, analyst with Shanghai- based commodities researcher says by phone today, citing unidentified refinery sources.

Sinopec to Shut Gaoqiao Refinery for Maintenance in Sept: ICIS

Repairs scheduled from Sept. 1 to Nov. 15, Amy Sun, analyst with Shanghai-based commodities researcher, says by phone today.

U.S. Gasoline Jumps to Five-Month High in Lundberg Survey

The average price for regular gasoline at U.S. pumps gained 9.87 cents in the past two weeks to $3.5098 a gallon, the highest since Sept. 20, according to Lundberg Survey Inc.

INDIA DAYBOOK: Car Sales, Ranbaxy’s Lipitor Recall, Trade Data

Society of Indian Automobile Manufacturers scheduled to release car sales data for February. Govt. may release provisional trade data for last month.

Indian Stocks to Watch: Glaxo, IOCL, Ranbaxy, SBI, Tata Power

India’s SGX CNX Nifty Index futures for March delivery fall 0.5% to 6,522.5. Nifty added 2% on March 7 to 6,526.65. Foreign investors bought net 13b rupees of stks on March 6, according to mkt regulator. MSCI A-P index -1%.

INDIA DAYBOOK: Car Sales, Ranbaxy’s Lipitor Recall, Trade Data

Society of Indian Automobile Manufacturers scheduled to release car sales data for February. Govt. may release provisional trade data for last month.

MORE: Tesoro Carson Refinery Flaring on Unplanned Maintenance

TSO’s Carson, Calif., refinery filed notification of flaring as “a precautionary measure associated with unplanned, unspecified maintenance,” said Tina Barbee, a co. spokeswoman

U.S. Gasoline Jumps to Five-Month High in Lundberg Survey

The average price for regular gasoline at U.S. pumps gained 9.87 cents in the past two weeks to $3.5098 a gallon, the highest since Sept. 20, according to Lundberg Survey Inc.

Tesoro Carson Refinery Expects to Flare Due to Maintenance

TSO’s Carson, Calif., refinery filed notification of flaring as “a precautionary measure associated with unplanned, unspecified maintenance,” said Tina Barbee, a co. spokeswoman

Oil Refineries Says No Injuries From Fire at Gadiv Unit Site

Co. says it’s studying economic implications of fire, estimates that majority of operations will resume this week, according to filing to Tel Aviv bourse late yday.

OTHER OIL MARKET NEWS

Oil Product Shipping Costs to Japan Rise 2.4 %

The cost of shipping a gallon of gasoline, jet fuel or other so-called clean petroleum products from the Middle East to Japan rose 2.4 percent to 8.91 U.S. cents yesterday, according to data compiled by Bloomberg. The cost is based on a cargo of 55,000 metric tons.

Crude Official Selling Prices and Formulas by Country (Table)

The following table shows official prices, formulas and relative values for crude grades from the Middle East, Asia, Africa and the Americas. Figures are in U.S. dollars a barrel, or premiums and discounts to regional benchmarks where plus and minus symbols appear.

TOP ENERGY STORIES

Gold Most Bullish Since 2012 as Goldman Sees Slump: Commodities

Gold is getting more attractive to hedge-fund managers even as Goldman Sachs Group Inc. says the metal’s surprising rally this year will soon fizzle.

Duo Who Built Trading Empire Set Sights on JPMorgan Unit: Energy

In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.

Sugar Rallying With Cooking Oil for Merchant Fund on Supply (1)

Sugar and cooking oil prices will extend a rally as dry weather from South America to Asia parches crops, said Doug King, Chief Investment Officer of the $145 million Merchant Commodity Fund.

Chaori to Sell Solar Farms in U.S., Europe to Pay Interest: Liu

Shanghai Chaori Solar Energy Science & Technology Co. will sell solar farms in Greece, Bulgaria, Italy and the U.S. to raise cash for interest payments, Vice President Liu Tielong says in interview.

WTI Crude Rises After U.S. Payrolls Gain; Brent Premium Narrows

West Texas Intermediate crude rose for a second day after U.S. employers added more workers than projected in February, bolstering optimism about the economy. The WTI-Brent spread narrowed.

Polar Vortex Emboldens Industry to Push Old Coal Plants: Energy

The polar vortex may give new life to aging coal and nuclear power plants in the U.S.

Ukraine Sees Gazprom Charging 37% More for Gas in Second Quarter

Ukraine faces a 37 percent increase in the price it pays for Russian natural gas after OAO Gazprom canceled a discount and threatened to cut supplies, Ukrainian Energy Minister Yuri Prodan told reporters yesterday.

Tokyo Radiation Less Than Paris’s Three Years After Meltdown (1)

Atmospheric radiation levels in Tokyo are at the same level as before the Fukushima nuclear accident three years ago and are below those in Paris and London.

Keystone XL Foes Use Flattery to Sway Kerry Against Oil Pipeline

Environmentalists are praising Secretary of State John Kerry in hopes of burying, figuratively speaking, the Keystone XL pipeline.

Goldman Says Chaori Default May Slow High-Yield Bond Issuance

Shanghai Chaori Solar Energy Science & Technology Co.’s default has no “systemic implications” because Chaori is a small company and isn’t representative of the broad credit profile of the domestic corporate bond market, Goldman Sachs analysts led by Kenneth Ho wrote in a March 8 report.

OTHER MARKETS

Asia Stocks Tumble With Copper as China Data Spur Growth Concern

Asian stocks tumbled, led by shares in Hong Kong and Shanghai, copper headed for its lowest close in 3 1/2 years and emerging-market currencies fell as weaker-than- estimated Chinese trade and inflation data stoked concern over the outlook for the world’s second-largest economy.

Yen Gains Versus Majors as China Trade, Crimean Vote Spur Demand

The yen climbed versus all of its 16 major counterparts as the biggest drop in Chinese exports since 2009 and continuing tension in Ukraine’s Crimean peninsula drove demand for Japan’s haven assets.

Goldman Seeks Sydney Beachhead as Aussie Depreciates: Currencies

Australia’s dollar has tumbled 15 percent from its high last year and strategists forecast more pain ahead. For Goldman Sachs Group Inc., it’s the perfect time to develop Sydney as a hub for trading local-currency assets.

Asian Stocks Drop From Six-Week High on China Exports, Japan GDP

Asian stocks fell, with the regional benchmark index retreating from a six-week high, after reports showed an unexpected slump in Chinese exports and slower growth in Japan than economists had projected.

Fastest-Growing Dividends Buoy Australia Stocks With 4.8% Yield

Dividends at Australian companies are increasing at the fastest pace among the developed world’s largest stock markets amid project spending cuts and an unstable global economic recovery.

Coutts Adds Gold as Demand in China Climbs With Ukraine Risk (2)

Coutts & Co. is adding gold for investors as rising wealth in China and increasing political risks including in Ukraine spur demand, helping prices rally from the biggest annual decline in more than three decades.

Copper Falls to 8-Month Low on China Demand Concern: LME Preview

Copper dropped to an eight-month low as weaker-than-expected Chinese trade data, the nation’s first onshore bond default and the yuan’s depreciation fueled concern that demand for industrial metals is slowing.

Fake Passports Spur Terrorism Worry as Plane Hunt Continues (1)

The use of stolen passports by two passengers to board a Malaysian airliner that vanished over the South China Sea sends a “red flag” that terrorism may have played a part, according to security officials and analysts.

Malaysia Air Jet Searchers Fail to Spot Suspected Plane Piece

Investigators from nine countries are struggling to solve the mystery of a missing Malaysian jet, as Vietnamese forces today failed to find the airplane debris they had spotted yesterday off the country’s southern coast.

SPORTS

Bayern Munich Hero’s ‘Folly’ Keeps German Focus on Tax Evasion

For Uli Hoeness, the next four days will be a painful reminder of how a decade-old “folly” turned a German soccer icon into one of the country’s most prominent tax dodgers.

Quad Capital Golf Addict With Finance Burnout Creates BirdieBox

Former Wall Street hedge fund manager Keith Bolognese says he has the right gift for the golfer who has everything -- more of the same, every month.

Pistorius’s Ex-Girlfriend Says Kept Gun With Him at All Times

Paralympian gold medalist Oscar Pistorius kept a gun next to his bed and carried one with him whenever he could, a former girlfriend testified at his murder trial.

ENERGY PRICES

Last Chg %Chg Exch Contract

---- ---- ---- ---- -------- WTI Crude ($/Bbl) 101.41 -1.17 -1.1 Nymex April Brent Crude ($/Bbl) 108.01 -0.99 -0.9 Ice April Gasoil ($/Ton) 907.50 -5.00 -0.5 Ice April Gasoline (c/Gal) 294.52 -2.86 -1.0 Nymex April Natural gas ($/MMBtu) 4.57 -0.05 -1.0 Nymex April Dated Brent ($/Bbl) 107.77 -0.81 -0.8 OTC 21 Days Heating Oil 297.74 -3.47 -1.2 Nymex April Other markets:

Last %Chg

----- ----- Dollar Index 79.66 -0.1 Gold ($/Oz) 1,338.20 -1.0 MSCI World Index 1,679.53 -0.1 Prices as of 6 a.m. GMT

To contact the reporter on this story: Alexander Kwiatkowski in Singapore at akwiatkowsk2@bloomberg.net

To contact the editors responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net Mike Anderson

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