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Praxis Market Update
Nikos Siakavaras, Praxis Energy Agents S.A.
10 Apr 2017 12:09 GMT





Praxis Energy Agents S.A. logo. Oil higher Monday amid ongoing geopolitical tensions after U.S. air strikes against Syria last week. U.S. crude was up 38 cents, or 0.73%, at $52.62 at 05:15 ET. Brent crude added 45 cents, or 0.81%, to $55.69. The U.S. move sparked concerns about potential disruptions to supply. Major producers Russia and Iran condemned the U.S. military action. Gains were capped by a further increase in U.S. drilling activity. Baker Hughes Friday reported a rise in the U.S. rig count data of 12 to 672. The rig count has now risen for 12 weeks in a row. Higher U.S. output could undermine the impact of cuts by major producers. OPEC, non-OPEC producers cutting output by 1.8 million b/d in first half. Hopes remain intact about a possible extension of the cuts beyond June.

Singapore: Avails are fair. Earliest supply from 12th of April onwards, and according to barge schedule.

Fujairah: Avails are fair. Earliest supply from 15th of April onwards, and according to barge schedule.

Istanbul: Avails are good with earliest delivery dates from 11th-12th of April onwards, and according to barge schedule.


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Company: Praxis Energy Agents S.A.

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