For news and data, double-click on the codes in brackets.
Access to some items may depend on subscription level.
> European Power and Gas [TOP/ELE]
...............................................................
TOP STORIES
> Oil falls on Iran assurance, US distillate build [nSP74735]
> Venezuela's Chavez 'anxious' for better U.S. ties [nN14514199]
> US crude, distillates stocks up; gasoline off--EIA[nN14496270]
> Money motivates Iran to consider oil output cut [nL14804468]
> Iran has no plans to cut crude exports-official [nSP17893]
> Putin pledges tax breaks to revive Russian oil gro[nL14151100]
> Mexico presents plan to help deep water oil output[nN14493938]
> ConocoPhillips CEO says crude supplies adequate [nN14437111]
> Imperial fails to reinstate oil sands permit [nN14506509]
> PetroChina buys a third more diesel for June [nSP24684]
ANALYSES
> Scant oil price relief if US stops filling reserve[nN14504832]
> Gas prices up? All in your head, US data says [nN14510878]
> Carbon tax offers risk, reward for Canada Liberals[nN13428741]
> Firmer dollar unlikely to upset commodities [nL13301846]
> Fuel to stay cheap for some, keeping oil expensive [nSP255439]
MARKETS
> NYMEX crude ends down on data, weak heating oil [nN14561408]
> ICE gas oil retreats from record, spreads tighten [nL14446935]
> NYMEX to hike heating oil futures margins [nN14304652]
> NWE products-Diesel premiums rise on refinery outa[nL14719349]
> JPMorgan to start physical oil trade, eyes $200 oil[nSP148501]
> ICE gas oil hits record as funds buy NYMEX heatoil[nL14807166]
> Crude seen up, but beware spike through $130 [nL14817715]
> More Nigerian crude trades based on OSPs - traders[nL13939428]
> India IOC buys 4 mln bbls of July W.Af in tender [nL14830622]
> Total ships Singapore clean products to E.Africa [nSIN328194]
REFINERIES
> API OKs safe use of refinery blowdown drums [nN14518952]
> Tesoro sees no Calif. refinery accident impact [nN14484837]
> Saudi Aramco, Total to go ahead with new refinery [nL14851070]
> China's April refinery growth slowest in 19 mths [nPEK231325]
CORPORATE NEWS
> ConocoPhillips CEO says record crude prices a foe [nN14514704]
> TNK-BP says court action may hamper operations [nL14554980]
> Russia TNK-BP mulls oil service business sale, IPO[nL14425540]
> Russian TNK-BP expects '08 capex up to $4.5 bln [nL14583929]
> DuPont, Danisco link up on new ethanol technology [nN14470011]
> Thai PTT Q1 net profit up 15.8 pct, beats forecast[nBKK240028]
> Russia Rosneft buys 10 pct of new commods exchange [nL1441512]
> KazMunaiGas E&P Q1 profit soars on high oil prices[nL14658266]
> BG Group finds oil and gas in Norwegian North Sea [nOSO001202]
Latest ICE Market report [O/L]
Latest NYMEX market report [O/N]
Latest European cash oil products report [PRO/E]
Latest European cash crude report [CRU/E]
................................................................
LIVE PRICES & DATA
ICE Brent <0#LCO:> ICE Gas oil <0#LGO:>
NYMEX Crude <0#CL:> NYMEX Heating oil <0#HO:>
NYMEX gasoline <0#RB:> Brent,Dubai paper <0#BRT-><0#DUB->
..............................................................
TOP NEWS SUMMARIES ON OTHER SUBJECTS
Reuters Front Page [TOP/NEWS] Global Economy [TOP/MACRO]|
Politics and General [TOP/G]
U.S. Companies [TOP/EQU] European Companies [TOP/EQE]
Asian Companies [TOP/EQA] Forex [TOP/FRX]
Sports [TOP/SPO]
..............................................................
HOW TO FIND INFORMATION YOU NEED
| <REUTERS> | <NEWS> | <PHONE/HELP> | <EQUITY> |
| <BONDS> | <MONEY> | <COMMODITY> | <ENERGY> |
..............................................................
Page editor: 646-223-6200; New York Desk
...............................................................
Keywords: MARKETS ENERGY TOPNEWS
(Updates with settlement prices, paragraph 2; adds byline)
By Matthew Robinson
NEW YORK, May 14 (Reuters) - Oil fell on Wednesday, edging away from record highs near $127 a barrel after Iran assured it had no plans to cut exports and U.S. inventory showed a rise in supplies of distillates.
U.S. crude <CLc1> settled $1.58 lower at $124.22, after hitting an all-time high of $126.98 a barrel on Tuesday. London Brent crude <LCOc1> settled down $2.24 at $121.86 a barrel.
Oil prices have rallied on concerns about global distillate supplies this month, amid signs of rising diesel demand for power generation in some emerging economies.
Data from the U.S. Energy Information Administration showed a 1.4 million barrel rise in distillate stocks, more than analysts had forecast, helping to ease supply concerns. The rise outweighed a smaller-than-expected build in crude inventories and a steep draw in gasoline supplies. [EIA/S]
"Crude runs were up more than expected and imports were down, leading to the small build in crude stocks," said Tim Evans, energy analyst at Citi Futures Perspective.
"The gasoline draw was a bit more than expected on a drop in imports. Overall, this is a mixed set of data, but we'd watch the heating oil price for a reaction to the build."
European middle distillate stocks fell sharply in April to 361.28 million barrels, down 1.4 percent from March and 7.2 percent lower than a year ago, data from industry monitor Euroilstock showed on Tuesday. [ID:nL13937955]
Oil prices came under pressure after Iran said it had no plans to reduce supplies to the market. President Mahmoud Ahmadinejad on Tuesday had said the OPEC nation was studying a proposal to cut output, sending prices to new highs.
A top Iranian official said on Wednesday Tehran was continuing sell oil to international customers as usual and has no plans to cut exports to world markets. [nSP17893]
"There is no plan to cut exports and we keep our promises (to clients) ... and we export as usual," said Hojjatollah Ghanimifard, executive director of international affairs at National Iranian Oil Company.
Tensions between Tehran and the West over Iran's nuclear program have supported prices over the past year. (Rreporting by Matthew Robinson and Robert Gibbons in New York; Jane Merriman in London; Maryelle Demongeot in Singapore; and Chikafumi Hodo in Tokyo; Editing by David Gregorio) Keywords: MARKETS OIL
(Recasts, updates prices, market activity; new dateline, previously LONDON)
NEW YORK, May 14 (Reuters) - Oil fell on Wednesday, edging away from record highs near $127 a barrel after Iran assured it had no plans to cut exports and U.S. inventory showed a rise in supplies of distillates.
U.S. crude <CLc1> fell 64 cents to $125.16 a barrel by 12:45 p.m. EDT (1645 GMT), after hitting an all-time high of $126.98 a barrel on Tuesday. London Brent crude <LCOc1> traded down $1.40 to $122.79 a barrel.
Oil prices have rallied on concerns about global distillate supplies this month, amid signs of rising diesel demand for power generation in some emerging economies.
Data from the U.S. Energy Information Administration showed a 1.4 million barrel rise in distillate stocks, more thananalsyts had forecast, helping to ease supply concerns. The rise outweighed a smaller-than-expected build in crude inventories and a steep draw in gasoline supplies. [EIA/S]
"Crude runs were up more than expected and imports were down, leading to the small build in crude stocks," said Tim Evans, energy analyst at Citi Futures Perspective.
"The gasoline draw was a bit more than expected on a drop in imports. Overall, this is a mixed set of data, but we'd watch the heating oil price for a reaction to the build."
European middle distillate stocks fell sharply in April to 361.28 million barrels, down 1.4 percent from March and 7.2 percent lower than a year ago, data from industry monitor Euroilstock showed on Tuesday. [ID:nL13937955]
Oil prices came under pressure after Iran said it had no plans to reduce supplies to the market. President Mahmoud Ahmadinejad on Tuesday had said the OPEC nation was studying a proposal to cut output, sending prices to new highs.
A top Iranian official said on Wednesday Tehran was continuing sell oil to international customers as usual and has no plans to cut exports to world markets. [nSP17893]
"There is no plan to cut exports and we keep our promises (to clients) ... and we export as usual," said Hojjatollah Ghanimifard, executive director of international affairs at National Iranian Oil Company.
Tensions between Tehran and the West over Iran's nuclear program have supported prices over the past year. (Rreporting by Matthew Robinson and Robert Gibbons in New York; Jane Merriman in London; Maryelle Demongeot in Singapore; and Chikafumi Hodo in Tokyo; Editing by David Gregorio) Keywords: MARKETS OIL
(Adds U.S. inventory data, analyst comment, updates prices)
By Jane Merriman
LONDON, May 14 (Reuters) - Oil edged up from session lows on Wednesday, after crude oil stocks rose less than expected in top consumer the United States.
The latest weekly U.S. fuel inventory data was mixed, with a rise in crude oil and distillate stocks, but a surprise fall in gasoline.
U.S. light crude for June delivery <CLc1> was down 45 cents at $125.35 a barrel by 1515 GMT. It has hit a string of record highs over the past week and reached a peak of $126.98 a barrel on Tuesday.
London Brent crude <LCOc1> was down $1.25 at $122.85 a barrel.
"Crude runs were up more than expected and imports were down, leading to the small build in crude stocks," said Tim Evans, energy analyst at Citi Futures Perspective.
"The gasoline draw was a bit more than expected on a drop in imports. Overall, this is a mixed set of data, but we'd watch the heating oil price for a reaction to the build."
The U.S. Energy Information Administration reported a rise of 200,000 barrels in crude oil stocks last week, less than the 1.8 million barrel increase forecast by analysts.
Distillates rose 1.4 million barrels, more than the 800,000 increase analysts had predicted.
Gasoline stocks fell by 1.7 million barrels, when analysts had looked for no change. [EIA/S]
DISTILLATES
Perceptions that supplies of distillates such as heating oil and diesel fuel are tightening helped drive U.S. heating oil futures <HOc1> to a record of $3.6989 a gallon on Tuesday, which boosted the entire oil complex.
"Distillates are clearly driving the market," said Marc Lansonneur, Societe Generale's head of commodities derivatives in Asia.
European middle distillate stocks fell sharply in April to 361.28 million barrels, down 1.4 percent from March and 7.2 percent lower than a year ago, data from industry monitor Euroilstock showed on Tuesday. [ID:nL13937955]
Earlier, an assurance from Iran that it had no plans to cut oil exports had cooled down the market.
Prices had surged to a new record of nearly $127 on Tuesday after Iranian President Mahmoud Ahmadinejad had said a proposal to cut crude output was under review.
A top Iranian official said on Wednesday Tehran is continuing sell oil to international customers as usual and has no plans to cut exports to world markets. [nSP17893]
"There is no plan to cut exports and we keep our promises (to clients) ... and we export as usual," said Hojjatollah Ghanimifard, executive director of international affairs at National Iranian Oil Company.
Concern in the oil market that Tehran's dispute with the West over its nuclear programme may lead to a disruption in its crude exports have helped drive oil to record highs. (Additional reporting by Maryelle Demongeot in Singapore and Chikafumi Hodo in Tokyo; editing by James Jukwey) ((jane.merriman@reuters.com; +44 207 542 5387; Reuters Messaging:jane.merriman.reuters.com@reuters.net))
Keywords: MARKETS OIL
(Updates prices)
By Jane Merriman
LONDON, May 14 (Reuters) - Oil fell more than a dollar on Wednesday after a reassurance from Iran that it had no plans to cut oil exports and ahead of an expected rise in crude oil stocks in top energy consumer the United States.
The market had hit a new record of nearly $127 in the previous session after Iranian President Mahmoud Ahmadinejad had said a proposal to cut crude output was under review.
A top Iranian official said on Wednesday Tehran is continuing sell oil to international customers as usual and has no plans to cut exports to world markets. [nSP17893]
U.S. light crude for June delivery <CLc1> was down $1.20 at $124.60 a barrel by 1345 GMT. It has hit a string of record highs over the past week and reached a peak of $126.98 a barrel on Tuesday.
London Brent crude <LCOc1> was down $1.64 at $122.46 a barrel.
The comment from the National Iranian Oil Company official soothed the volatile market.
"There is no plan to cut exports and we keep our promises (to clients) ... and we export as usual," said Hojjatollah Ghanimifard, executive director of international affairs at NIOC.
Concern in the oil market that Tehran's dispute with the West over its nuclear programme may lead to a disruption in its crude exports have helped drive oil to record highs.
DISTILLATES
The market awaited weekly fuel inventory data from the United States, due at 1430 GMT, forecast to show an 800,000 barrel rise in distillate stocks and a 1.8 million barrel increase in crude inventories, their fourth increase in a row. [EIA/S]
Perceptions that supplies of distillates such as heating oil and diesel fuel are tightening helped drive U.S. heating oil futures <HOc1> to a record of $3.6989 a gallon on Tuesday, which boosted the entire oil complex.
"Distillates are clearly driving the market and U.S. distillate inventories will have to be watched this week," said Marc Lansonneur, Societe Generale's head of commodities derivatives in Asia.
European middle distillate stocks fell sharply in April to 361.28 million barrels, down 1.4 percent from March and 7.2 percent lower than a year ago, data from industry monitor Euroilstock showed on Tuesday. [ID:nL13937955] (Additional reporting by Maryelle Demongeot in Singapore and Chikafumi Hodo in Tokyo; editing by James Jukwey) ((jane.merriman@reuters.com; +44 207 542 5387; Reuters Messaging:jane.merriman.reuters.com@reuters.net))
Keywords: MARKETS OIL
Next: UPDATE 3-Oil eases, Iran comment soothes