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Praxis Market Update
Nikos Siakavaras, Praxis Energy Agents S.A.
06 Nov 2015 13:43 GMT





Praxis Energy Agents S.A. logo. U.S. oil futures opened higher on Friday, but during the day they lost their gains and generally gains are expected to remain limited as supply glut concerns and a stronger U.S. dollar continued to weigh on demand for the commodity. Analysts said that oversupply would continue to pressure oil markets.The strong U.S. dollar is also seen as a drag on commodity markets as it makes imports for countries with other currencies more expensive. The oil market has been volatile in recent months amid uncertainty about how quickly the global glut of crude is set to shrink. Global oil production is outpacing demand following a boom in U.S. shale oil production and after a decision by the Organization of Petroleum Exporting Countries last year not to cut production.

Singapore: Demand was average and avails fine. Prompt deliveries possible. The earliest dates for deliveries were from 8th-9th of November.

Fujairah: Avails are fine. Earliest deliveries from 9th-10th of November onwards, according to barge schedules.

Gibraltar: Avails are fine. Earliest deliveries from 8th of November onwards, according to barge schedules.


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Company: Praxis Energy Agents S.A.

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