The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
LONDON, July 30 (Reuters) - Angolan oil sales are bouncing back from a dismal summer as Asian refining margins have recovered and demand is rising ahead of a major change in marine fuel standards in 2020, traders say.
Crude from Africa's second-largest exporter after Nigeria flowed to its top customer China in the lowest volumes in nearly five years in July, Refinitiv Eikon data shows.
"August is shaping up to be even weaker than June and July, but September has a strong tone," one major seller of Angolan crude told Reuters.
"We believe the levels in demand we are seeing for September are related in part to the interest in specific grades suitable for refining into IMO-compliant bunker fuels," the seller said, adding that the Cabinda, Kissanje and Hungo grades especially suited to the new fuels were selling fast.
From Jan. 1, International Maritime Organization (IMO) rules for marine fuel, also called bunker fuel, will bar ships from using fuels containing more than 0.5% sulphur - compared with 3.5% currently - to reduce air pollution.
"As refiners increase their efforts to look for alternatives to present bunker fuel, Angolan grades will improve," said Ehsan Ul-Haq, lead analyst for oil research and forecasts at Refinitiv.
Angola's poor performance this summer came as backwardation in the oil market has made prompter deliveries more expensive and discouraged shipping crude long distance, while China stocked up on similar Iranian crudes ahead of U.S. sanctions and refining margins stayed low.
Traders said the pace of exports to China for July was roughly in line with June but deteriorated further the next month.
"We bought even less in August," a major Chinese buyer said.
Angola's medium-to-heavy grades, which tend to yield larger quantities of middle distillates such as gasoil and jet fuel, have drawn higher demand in 2019 as U.S. sanctions removed comparable Venezuelan and Iranian varieties.
Differentials rose to all-time highs before beginning a months-long slide in June. Traders say the situation is now steadying as refining margins have improved.
Asian margins have lifted in recent weeks, pushing up demand from Chinese independent refiners for crudes from Russia, Oman, Brazil as well as Angola.
Margins for gasoil, the base for diesel and jet fuel, hit an eight-month high of $17.09 a barrel on Monday.
"(Angolan oil's) fate will also depend on distillate prices in the next few months," added Ul-Haq of Refinitiv. "If distillate prices continue to move higher, using Angolan crudes could be a good option."
(Reporting by Noah Browning; Editing by Dale Hudson)