*TransCanada says Gulf Coast oil pipeline fill begins. Brent's premium to U.S. oil was further eroded by news that TransCanada Corp has begun filling its 700,000 barrel-per-day oil pipeline, which will transport crude from the Cushing, Oklahoma, storage hub to Gulf Coast refiners.» Read More
CALGARY, Alberta, Dec 9- Transcanada Corp said on Monday that it has begun filling its new 700,000 barrel per day Gulf Coast pipeline with oil but gave no indication on when it expects the line to begin commercial service.
LONDON, Dec 9- Brent crude fell almost 1.5 percent to around $110 a barrel on Monday, undermined by signs of weaker European demand despite upbeat economic data from the United States and China, the world's two biggest oil consumers.
Jim Cramer explains what to watch ahead of the open, including Valero Energy and WhiteWave Foods.
LONDON, Dec 9- Brent crude oil slipped to around $111 a barrel on Monday, undermined by signs of weaker European demand despite upbeat economic data from the United States and China, the world's two biggest oil consumers.
SINGAPORE, Dec 9- Brent crude oil futures held near $112 a barrel on Monday, underpinned by upbeat economic data from the United States and China, the world's first and second largest oil consumers. Brent crude oil futures had edged up 12 cents to $111.71 a barrel by 0615 GMT, after rising more than $1 in the previous session.
LIMA, Dec 7- Peru's state oil company would be allowed to privatize up to 49 percent of Petroperu through share offerings on the local stock market under a bill soon to be submitted to Congress, a top official said on Saturday.
TRIPOLI, Dec 7- Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday. Arusi said Libya had lost 9 billion Libyan dinars in oil revenues after output had fallen to 250,000 barrels a day from 1.4 million bpd in July.
TRIPOLI, Dec 7- Libya needs to find new oil buyers after a drop in output to 250,000 barrels per day due to protests has led to an increase in competition from Algeria and Nigeria, Oil Minister Abdelbari al-Arusi said on Saturday.
BEIJING, Dec 6- China is expected to post an increase in imports of major commodities in November compared with the preceding month, helped by stock building ahead of winter and after a week-long holiday disrupted shipments in October.
Oil refiners like Marathon and Valero are up over the past month. Pavel Molchanov of Raymond James, says there is more room to the upside for some of these stocks.
*Ethylene costs $500/ T in United States, $1,200 in Europe. LONDON, Dec 5- Europe's petrochemical industry will face a competitive assault as U.S. rivals emerge with cheap feedstock from the shale gas boom. Those still in operation are struggling with losses or razor-thin margins as U.S. refiners flood Europe with cheap fuel made from low-cost shale oil and gas.
*OPEC keeps production target unchanged. *Iraq, Iran and Libya plan to raise output. The Organization of the Petroleum Exporting Countries agreed on Wednesday to keep its production target unchanged at 30 million barrels per day for the first half of 2014, despite Iran and Iraq setting high output targets for the year ahead.
NEW YORK, Dec 4- U.S. crude oil futures rose more than $1 on Wednesday, a fourth straight day of gains as government data showed an unexpected fall in U.S. stockpiles in the world's largest oil consumer.
NEW YORK-- The nation's crude oil supplies fell last week for the first time in almost three months, the government said Wednesday. Crude supplies decreased by 5.6 million barrels, or 1.4 percent, to 385.8 million barrels, which is 3.8 percent above year-ago levels, the Energy Department's Energy Information Administration said.
LAUNCESTON, Australia, Dec 4- Saudi Aramco's decision to raise its official selling price for January crude cargoes to Asia to the highest premium in two years looks slightly at odds with recent market developments.
NEW YORK, Dec 3- U.S. oil futures rose over $2 a barrel to a four-week high on Tuesday in a third straight day of gains on expectations that the January start-up of a pipeline from Cushing, Oklahoma, to the Gulf Coast would drain crude stocks at the giant storage hub.
NEW YORK, Dec 3- U.S. oil futures rose $2 a barrel to a four-week high on Tuesday in a third straight day of gains on expectations that the January start up of a pipeline from Cushing, Oklahoma, to the Gulf Coast would drain crude stocks at the giant storage hub.
*Coming up: American Petroleum Institute inventories at 2130 GMT. LONDON, Dec 3- Brent crude held above $111 a barrel on Tuesday, near a three-month high hit in the previous session, as strong economic data boosted the demand outlook and outages in Libya maintained concerns about supply.
CARACAS, Dec 2- Venezuelan state oil company PDVSA said the OPEC nation's oil installations were not affected by a power blackout that struck large parts of the country on Monday night. Venezuela's refineries, heavy crude upgraders and other oil facilities are fed by separate generating plants, not the national grid.
*Rising supply to Asia from Russia, Latin America, West Africa. SINGAPORE, Dec 3- Middle East oil exporters are locked in an increasingly fierce battle for the world's fastest-growing markets in Asia, as producers worldwide ship more crude east to compensate for shrinking demand from the United States and Europe.