Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

TOP Oil Market News: Brent Climbs After Libya Unrest; WTI Steady

Don't Miss Out —
Follow us on:

May 28 (Bloomberg) -- The following is a selection of the most important news affecting the oil market.

Brent Climbs for First Time in 3 Days After Libya; WTI Steady

Brent crude rose for the first time in three days as violence in Ukraine escalated and unrest continued to curb Libyan supplies. West Texas Intermediate was steady before inventory data.

Iraq Oil Revival Stalls Again as Violence Pinches Growth: Energy

The revival in Iraqi oil output has stalled. Again.

Nagarjuna Oil to Complete 6m Mt/y Cuddalore Refinery by 2015

Co. plans to secure investors for 160b rupees ($2.7b) project in southern Indian state of Tamil Nadu by next month, S. Ramasundaram, CEO of Nagarjuna Oil, says in interview in New Delhi.

Iraq Kurds to Boost Oil Exports to 450K-500K B/D by Year-End: PM

Iraq’s semi-autonomous Kurdish north currently exporting 100k b/d, to soon increase shipments to 250k b/d, Nechirvan Barzani, prime minister of Kurdistan Regional Govt, tells reporters in parliament in Erbil.

Hellenic Petroleum Said to Buy Urals Crude for June From Vitol

Refiner buys Urals for June 8-12 delivery, say 2 people with knowledge of tender.

Azeri Light June Crude Exports From Supsa to Be Stable at 4 Lots

Cargoes of 600kb each to be shipped from Georgia’s Black Sea port of Supsa in June, unchanged from May, loading program obtained by Bloomberg News shows.

China State Refiners Oppose Granting Crude Quotas to ‘Teapots’

Import quota of 10m-20m mt/yr for independent processing plants could lift global crude prices, raise purchase costs for state refiners, Yao Jun, deputy general manager of Cnooc Export and Import, says in conference in Shanghai today.

Russia Revises June Primorsk Urals Exports Lower to 35 Cargoes

This is 1 less than preliminary program released yday, according to revised loading program obtained by Bloomberg News.

REFINERIES Map global refinery outages

ASIA CRUDE: July ESPO Exports Rise; Dalian Refinery to Restart

Russia to ship 21 East Siberia- Pacific Ocean crude cargoes in July, 2 more than in June, according to loading plan obtained by Bloomberg.

ASIA DISTILLATES: Dalian Refinery to Fully Restart; Crack Widens

PetroChina plans to fully restart Dalian refinery by May 31 after resuming some units on May 24, says refinery official who asks not to be identified because of internal policy

Sinochem Quanzhou Refinery Operating at 30%-40% of Capacity

Rate to rise above 70% after June, Sinochem Group’s Assistant President Zhong Ren says in interview in Shanghai today.

OMV Petrom’s Petrobrazi Refinery Started Maintenance on May 23

Co. comments on 30-day shutdown of Romanian refinery in e-mailed statement.

Exxon Has Emission at Joliet Oil Refinery: Illinois Filing

Facility flared sulfur dioxide for 20 minutes due to a mechanical breakdown, co. says in state filing.

PetroChina to Fully Restart Dalian Refinery Operations by May 31

Co. resumed some units on May 24, says refinery official who asks not to be identified because of internal policy.

Phillips 66 L.A. Plant Reports Anhydrous Ammonia Vapor Release

~100 lbs were released in the atmosphere yesterday: California state filing.

Flint Hills Reports Upset at Distillate Desulfurizer: TCEQ

Flint Hills Resources Corpus Christi West Plant in Texas reports flaring today because of upset at distillate desulfurizer unit: TCEQ.


Oil Product Shipping Costs to Japan Are Unchanged

The cost of shipping a gallon of gasoline, jet fuel or other so-called clean petroleum products from the Middle East to Japan was unchanged at 9.31 U.S. cents yesterday, according to data compiled by Bloomberg. The cost is based on a cargo of 55,000 metric tons.

Saudi Arabia to Japan Tanker Rates Rises 0.2% to 33.43 Points

The cost of delivering Middle East crude to Asia, the world’s busiest route for supertankers, gained 0.2 percent to 33.43 Worldscale points, according to the Baltic Exchange in London.


Shakeout Threatens Shale Patch as Frackers Go for Broke: Energy

The U.S. shale patch is facing a shakeout as drillers struggle to keep pace with the relentless spending needed to get oil and gas out of the ground.

Repsol-JPMorgan Ignites Deepest Bond Selloff: Argentina Credit

When Repsol SA Chief Financial Officer Miguel Martinez received $5 billion of bonds from Argentina as compensation for its seized stake in oil producer YPF SA, he said it could take as long as two years to sell.

Sinking of Vietnam Fishing Vessel Escalates Tensions With China

Vietnam and China traded barbs over the sinking of a Vietnamese fishing boat, their most serious bilateral standoff since 2007 as China asserts its claims in the disputed South China Sea.

Energy Future Says Fidelity May Fund $500 Million of Loan (2)

An adviser to Energy Future Holdings Corp. said Fidelity Investments has an option to fund $500 million of a $5.4 billion loan for reorganizing its regulated power business, while Pacific Investment Management Co. has committed to backing almost $1.5 billion of the financing.

How Gasoline-Use Drop May Raise Taxes in Delaware: Muni Credit

An unprecedented drop in gasoline use as more Americans drive fuel-efficient vehicles and choose mass transit is undermining a revenue stream for repairing crumbling roads and bridges.

Ukraine Gas Risk Premium Remains for Europe as Gap Widens (2)

The European Union still faces the threat of natural gas disruptions this winter after helping forge a draft deal to settle a debt dispute between Russia and Ukraine, which carries about 15 percent of the bloc’s gas needs.

Ukraine Prolongs Anti-Rebel Operation After Dozens Killed (2)

Ukraine’s government said it will press on with military operations against pro-Russian rebel fighters after its forces retook Donetsk airport and inflicted “significant” losses on the separatists.

Japanese Lawmakers to Lobby Abe for Russian Gas Pipeline (2)

Japanese lawmakers are reviving efforts for a 600 billion yen ($5.9 billion) natural gas pipeline from Russia, which last week signed a supply deal with China, to cut energy costs after the Fukushima nuclear disaster.

Sundance Energy Looks at Eagle Ford Deals Up to $200 Million (1)

Sundance Energy Australia Ltd., an explorer that’s expanding in the Eagle Ford shale formation of Texas, will look at acquisitions of as much as $200 million as some competitors focus on drilling over deals.

MORE: Shenzhen Exchange to Auction 1st Carbon Permits June 6

China Emissions Exchange in Shenzhen to sell 200kt of emissions allowances, according to statement on its website.


Bonds Gain as European Stocks Trade Near ’08 High; Copper Rises

European government bonds advanced while an index of the region’s stocks held near the highest level since 2008. Asian shares rose, led by Chinese equities, and copper increased after the world’s second-largest economy reported stable growth in industrial profits.

Euro Falls a Second Day Versus Yen as German Unemployment Rises

The euro declined for a second day against the yen as data showed German unemployment unexpectedly increased this month and euro-area lending contracted, boosting the case for more European Central Bank stimulus.

Euro Ignores Skeptic Gains to Focus on Draghi: Chart of the Day

The success of euroskeptic parties in the weekend’s European Parliament elections has barely registered as a blip on the shared currency’s radar.

Europe Stocks Little Changed Near a Six-Year High as Glaxo Falls

European stocks were little changed, trading near their highest level since January 2008, as GlaxoSmithKline Plc retreated after becoming the subject of a criminal investigation. U.S. equity-index futures were also little changed, while Asian shares rose.

Corn Extends Decline to 12-Week Low as U.S. Planting Accelerates

Corn extended a drop to the lowest level in more than 12 weeks after farmers in the U.S., the top exporter, accelerated planting in the last week.

Gold Sinking as ETP Assets Drop to Lowest Since ’09: Commodities

After two months of treading water, gold prices are starting to sink.

EU Heads Spar Over Posts as Juncker Denied Quick Appointment (1)

Europe’s leaders resisted calls to quickly baptize Luxembourg’s Jean-Claude Juncker as the next European Commission president, tying the appointment to a broader package of high-profile posts.

Obama Seeks Foreign Policy Reset to Counter Leadership Doubts

For President Barack Obama, it’s time for a foreign policy reset.


Montreal Beats N.Y. Rangers 7-4 to Avoid NHL Playoff Elimination

Rene Bourque scored three goals and the host Montreal Canadiens knocked out Rangers goalie Henrik Lundqvist to stay alive in the National Hockey League playoffs with a 7-4 defeat of New York.

Bank of America Said Hired by Sterlings to Sell NBA’s Clippers

Bank of America Corp. has been retained to sell the Los Angeles Clippers, whose owners face a June 3 deadline to reach a sale agreement or risk the team being taken from them by the National Basketball Association, two people with direct knowledge of the situation said.

Westbrook Scores 40 as Thunder Tie NBA Playoff Series With Spurs

Russell Westbrook scored 40 points to lead the Oaklahoma City Thunder to a 105-92 defeat of the visiting San Antonio Spurs, evening their National Basketball Association playoff series at two games apiece.

Ex-Commissioner Expects Baseball Insider for Selig Successor (1)

Former Major League Baseball Commissioner Fay Vincent said he’d be surprised if the sport turned to an outsider such as Walt Disney Co. Chief Executive Officer Robert Iger to replace the retiring Bud Selig.


Energy Prices:
                         Last    Chg  %Chg   Exch Contract
                         ----   ----  ----   ---- --------
WTI Crude ($/Bbl)      104.29  +0.18  +0.2  Nymex     July
Brent Crude ($/Bbl)    110.22  +0.20  +0.2    ICE     July
Gasoil ($/Ton)         909.25  -2.75  -0.3    ICE     June
Gasoline (c/Gal)       299.53  +0.01    --  Nymex     June
Natural gas ($/MMBtu)    4.48  -0.02  -0.5  Nymex     June
Dated Brent ($/Bbl)    111.13  -0.15  -0.1    OTC  21 Days
Heating Oil            294.59  +0.60  +0.2  Nymex     June

Other markets:
                         Last  %Chg
                        ----- -----
Dollar Index         1,012.33  +0.1
Gold ($/Oz)          1,265.60  +0.1
MSCI World Index       420.40  +0.1

Prices as of 12 p.m. London time

To contact the reporter on this story: Rob Verdonck in London at

To contact the editors responsible for this story: Alaric Nightingale at Claudia Carpenter, Nicholas Larkin

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.