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Praxis Market Update
Nikos Siakavaras, Praxis Energy Agents S.A.
30 Mar 2017 15:27 GMT





Praxis Energy Agents S.A. logo. Oil prices reversed earlier losses on Thursday, reaching a fresh three-week high amid speculation that OPEC will extend its production-cut deal beyond June. Brent oil for June delivery on the ICE Futures Exchange in London rose 23 cents, or around 0.5%, to $52.78 a barrel by 9:00AM ET (13:00GMT), after hitting a high of $52.95 earlier, the most since March 10. Elsewhere, the U.S. West Texas Intermediate crude May contract reached a session peak of $49.98 a barrel, also the highest since March 10. It was last at $49.85, up 34 cents. Crude prices rose to the highest levels of the session following reports saying that Kuwait and other OPEC countries support extending production cuts beyond June to balance the market.

Singapore: Avails are fair. Earliest supply from 2nd-3rd of April onwards, and according to barge schedule.

Fujairah: Avails are fair. Earliest supply from 5th-6th of April onwards, and according to barge schedule.

Istanbul: Avails are good with earliest delivery dates from 31st of March onwards, and according to barge schedule.


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Company: Praxis Energy Agents S.A.

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