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Praxis Market Update
Nikos Siakavaras, Praxis Energy Agents S.A.
09 Mar 2017 13:55 GMT





Praxis Energy Agents S.A. logo. Oil prices turned lower during European morning hours on Thursday, with the U.S. benchmark falling below the $50-level for the first time since the start of December after data showed another massive increase in U.S. crude supplies. The U.S. West Texas Intermediate crude April contract touched a session low of $49.21 a barrel, a level not seen since December 1. It was last at $49.52 by 5:25AM ET (10:25GMT), down 76 cents, or around 1.5%.Elsewhere, Brent oil for May delivery on the ICE Futures Exchange in London slumped 74 cents to $52.38 a barrel. The global benchmark fell to $52.04 earlier, its lowest since December 1. Oil sank more than 5% in the prior session after the U.S. Energy Information Administration said crude supplies surged by 8.2 million barrels last week to yet another all-time high of 528.4 million.

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

Fujairah: Avails are fair. Earliest supply from 14th-15th of March onwards, and according to barge schedule.

Istanbul: Avails are good with earliest delivery dates from 13th-14th of March onwards, and according to barge schedule.


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Company: Praxis Energy Agents S.A.

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