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Praxis Market Update
Nikos Siakavaras, Praxis Energy Agents S.A.
05 Apr 2017 14:53 GMT





Praxis Energy Agents S.A. logo. Oil was at one-month highs Wednesday after industry figures showed a draw in U.S. stockpiles. U.S. crude was up 58 cents, or 1.14%, at $51.61 at 08:15 ET. Brent crude added 67 cents, or 1.24%, to $54.84. The American Petroleum Institute Tuesday reported a bigger-than-expected fall in U.S. crude stocks of 1.83 million barrels in the latest week. Gasoline and distillate stocks also fell by more than forecast. The Energy Information Administration (EIA) inventories is forecast later Wednesday to report a fall in crude stocks of 435,000 barrels. Output cuts by major producers appear to be helping the oil market re-balance. OPEC and non-OPEC producers are cutting output by 1.8 million barrels a day in the first half.

Singapore: Avails are fair. Earliest supply from 10th-11th of April onwards, and according to barge schedule.

Fujairah: Avails are fair. Earliest supply from 8th-9th of April onwards, and according to barge schedule.

Istanbul: Avails are good with earliest delivery dates from 7th-8th of April onwards, and according to barge schedule.


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Company: Praxis Energy Agents S.A.

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