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Tot hoever zakt de olie prijs?

1. voda 15 juni 2011 21:24

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   Crude Oil Drops Below $95 a Barrel on U.S. Economy, European Debt Concern
   
   By Mark Shenk - Jun 15, 2011 9:10 PM GMT+0200
   
   Crude oil tumbled below $95 a barrel for the first time since February on concern that Europe’s debt crisis will deepen and on signals the U.S. economy is slowing, reducing fuel consumption.
   
   Futures dropped 4.6 percent as European finance ministers struggled to break a deadlock on a second rescue plan for Greece, sending the euro and most commodities lower. The Federal Reserve Bank of New York’s general economic index slipped to the lowest level since November. An Energy Department report today showed U.S. fuel demand fell for the first time in five weeks.
   
   “The Greek crisis is making people worry about further bank failures in Europe and cascading defaults hitting the economy and fuel demand,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “The demand numbers in today’s report were terrible, especially for industrial fuels.”
   
   Crude oil for July delivery fell $4.56 to $94.81 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 22. It was the biggest decline since May 11. Prices are up 23 percent from a year ago.
   
   Brent crude oil for July delivery dropped $2.86, or 2.4 percent, to $117.30 a barrel on the London-based ICE Futures Europe exchange. The contract expires today. The more actively traded August futures fell $5.91, or 5 percent, to $113.44.
   
   German Chancellor Angela Merkel and French President Nicolas Sarkozy will meet on June 17 in Berlin to try to resolve their differences on a rescue for Greece, which was downgraded this week to the country with the lowest credit rating by Standard & Poor’s. EU finance ministers agreed to convene again on June 19.
   
   Greek Political Crisis
   
   Greek Prime Minister George Papandreou said he will make changes to his Cabinet tomorrow and will then immediately seek a vote of confidence in Parliament. Papandreou spoke in comments televised live on state-run NET TV.
   
   The euro was down 1.7 percent at $1.4188 after dropping to $1.4156, the lowest level since May 27. A stronger U.S. dollar reduces the appeal of raw materials to investors.
   
   “People are in full panic mode,” said Stephen Schork, president of Schork Group Inc., a Villanova, Pennsylvania-based consultant. “If we don’t hold here, hold your breath as the market heads for $90. This is make-it or break-it time for the bulls.”
   
   The Federal Reserve Bank of New York’s manufacturing index declined to minus 7.8 from 11.9 in May. The median forecast in a Bloomberg News survey of economists was 12. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey and southern Connecticut.
   
   Industrial Output
   
   Nationwide industrial production rose less than forecast in May, restrained by a slump in utility output and shortages of auto parts from Japan. Output at factories, mines and utilities rose 0.1 percent after no change the prior month, Federal Reserve figures showed. Economists projected a 0.2 percent gain, according to the median estimate in a Bloomberg News survey.
   
   “The oil market continues to follow economic indicators because they provide signals on demand,” said Adam Sieminski, chief energy economist at Deutsche Bank AG in Washington. “Trading continues to get hit by occasional periods of panic due to the sovereign debt crisis in Europe.”
   
   The Standard & Poor’s 500 Index dropped 1.7 percent to 1,266.53, and the Dow Jones Industrial Average declined 174.19 points to 11,901.92 at 2:40 p.m. in New York
   
   U.S. consumption of distillate fuel, a category that includes diesel and heating oil, tumbled 5.2 percent to 3.6 million barrels a day, the lowest level since January, according to the Energy Department report.
   
   ‘Poor Distillate Number’
   
   “The demand picture isn’t looking good, especially for distillate fuel,” said Carl Larry, director of energy derivatives and research with Blue Ocean Brokerage LLC in New York. “The poor distillate number is a sure sign that the economy is weakening.”
   
   U.S. crude-oil stockpiles fell 3.41 million barrels to 365.6 million last week, the department said. A 1.8 million- barrel decline was projected, according to the median of 13 analyst responses in a Bloomberg News survey.
   
   Stockpiles of oil at Cushing, Oklahoma, the delivery point for the New York-traded West Texas Intermediate grade, slipped 1.14 million barrels to 37.76 million in the week ended June 10, the lowest level since February. Supplies in the Midwest, a region classified as PADD 2, fell 2.86 million barrels to 97.9 million, also the least since February. Oklahoma is in PADD 2.
   
   Keystone Pipeline
   
   Cushing is the terminus of the Keystone pipeline, which carries Canadian oil to the central U.S. and was closed from May 29 to June 5.
   
   “It looks like the drop in supply was a result of the Keystone issue,” Larry said. “There were big drops in Cushing and PADD 2 as a whole.”
   
   Oil volume in electronic trading on the Nymex was 935,007 contracts as of 2:41 p.m. in New York. Volume totaled 741,412 contracts yesterday, 12 percent above the average of the past three months. Open interest was 1.58 million contracts.
   
   To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net
   
   To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
   
   Crude oil tumbled below $95 a barrel for the first time since February on concern that Europe’s debt crisis will deepen and on signals the U.S. economy is slowing, reducing fuel consumption.
   
   Futures dropped 4.6 percent as European finance ministers struggled to break a deadlock on a second rescue plan for Greece, sending the euro and most commodities lower. The Federal Reserve Bank of New York’s general economic index slipped to the lowest level since November. An Energy Department report today showed U.S. fuel demand fell for the first time in five weeks.
   
   “The Greek crisis is making people worry about further bank failures in Europe and cascading defaults hitting the economy and fuel demand,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “The demand numbers in today’s report were terrible, especially for industrial fuels.”
   
   Crude oil for July delivery fell $4.56 to $94.81 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 22. It was the biggest decline since May 11. Prices are up 23 percent from a year ago.
   
   Brent crude oil for July delivery dropped $2.86, or 2.4 percent, to $117.30 a barrel on the London-based ICE Futures Europe exchange. The contract expires today. The more actively traded August futures fell $5.91, or 5 percent, to $113.44.
   
   German Chancellor Angela Merkel and French President Nicolas Sarkozy will meet on June 17 in Berlin to try to resolve their differences on a rescue for Greece, which was downgraded this week to the country with the lowest credit rating by Standard & Poor’s. EU finance ministers agreed to convene again on June 19.
   
   U.S. consumption of distillate fuel, a category that includes diesel and To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
   
   (ingekort)
2. voda 15 juni 2011 22:01

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   Olieprijs sluit fors lager
   
   
   AMSTERDAM (Dow Jones)--De olieprijs is woensdag scherp gedaald. Vrees dat de Griekse schuldencrisis en een zwakkere wereldeconomie de vraag naar olie zullen raken, stuurden de markt fors omlaag.
   
   De julifuture voor een vat ruwe olie sloot woensdag op de New York Mercantile Exchange $4,56, of 4,6%, lager op $94,81, het laagste slot in vier maanden.
   
   De daling van de olieprijs, temidden van dalende aandelenbeurzen en een stijgende dollar, kreeg vaart toen uit cijfers van de Amerikaanse Energy Information Administration bleek dat de vraag naar olie en brandstof flink is gedaald.
   
   De afgelopen vier weken daalde de vraag met 3,2% in vergelijking met vorig jaar. Daarnaast bleek dat de capaciteitsbenutting van raffinaderijen afnam tot 86,1% van 87,2% vorige week, een teken dat leveranciers hun productie verminderen.
   
   "De totale vraag heeft een behoorlijk grote klap gehad", zegt Carl Larry, directeur derivaten en onderzoek bij Blue Ocean Brokerage. "De vraag naar diesel is gedaald, de vraag naar vliegtuigbrandstof is gedaald. Dat schetst een weinig rooskleurig beeld van de economie", stelt bij.
   
   Daarnaast schrijven handelaren de daling van de oliemarkt toe aan de verliezen op de aandelenbeurzen en de stijging van de dollar ten opzichte van de euro. De Europese munt daalde voor de eerste keer sinds 27 mei tot onder de $1,42.
   
   De euro staat onder druk door de toenemende zorgen om Griekenland, nadat Europese functionarissen opnieuw niet tot een akkoord konden komen over hoe Griekenland het best geholpen kan worden en in de Griekse hoofdstad Athene rellen uitbraken.
   
   Ten slotte kreeg de markt een klap van een serie tegenvallende economische data uit de VS: de inflatie was hoger dan verwacht, het bedrijfsklimaat in New York bleek sterk verslechterd en de industriele productie steeg minder dan verwacht.
   
   
   Door Ben Zwirs; Dow Jones Nieuwsdienst; +31 20 571 5200; ben.zwirs@dowjones.com
   
   
   
3. voda 16 juni 2011 15:57

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   IEA: vraag uit Azië houdt olieprijs hoog
   Gepubliceerd op 16 jun 2011 om 11:04 | Views: 145
   
   PARIJS (AFN) - De prijs van olie blijft op de (middel)lange termijn boven de 100 dollar per vat. De stijging van de olieprijs in het afgelopen jaar is namelijk niet ingegeven door speculatie, maar door een steeds toenemende vraag vanuit Azië. Dat schrijft het Internationaal Energie Agentschap (IEA) donderdag.
   
   Het IEA baseert zijn verwachtingen voor het komende jaar nu op een gemiddelde prijs van 103 dollar voor een vat lichte Amerikaanse olie. Dat is bijna 20 dollar hoger dan een eerdere aanname.
   
   Het verbruik van olie per hoofd van de bevolking blijft vooralsnog hoger in de 'oude' ontwikkelde landen dan in de opkomende economieën. Maar daar groeit de vraag naar olie scherp door de groei van de bevolking, verstedelijking en verdere industrialisatie, aldus het IEA.
   
   2014
   
   Het agentschap verhoogde de verwachting voor het olieverbruik in 2011 met 0,1 miljoen vaten per dag tot 89,3 miljoen vaten per dag.
   
   Door de crisis in Libië wordt er per dag 1,5 miljoen vaten olie minder geleverd. Door de hoge prijs zijn andere landen momenteel bereid dit op te vangen door meer te leveren. Het IEA verwacht dat de productie in Libië pas weer in 2014 naar het oude niveau zou kunnen terugkeren.
   
   Hoofd van het IEA, de Japanner Nobuo Tanaka, liet weten actie te zullen ondernemen als de wereldeconomie onder een te laag aanbod van olie zou gaan lijden. Dan zou de IEA de lidstaten kunnen vragen een deel van de reserves vrij te geven.
   
4. voda 16 juni 2011 22:02

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   Olieprijs sluit licht hoger
   
   
   AMSTERDAM (Dow Jones)--De olieprijs is donderdag licht hoger gesloten, nadat het sterke verlies van woensdag koopjesjagers naar de markt trok. Een stijgende dollar hield het herstel beperkt.
   
   De julifuture voor een vat ruwe olie sloot donderdag op de New York Mercantile Exchange $0,14 hoger op $94,95.
   
   Na de daling van bijna 5% op woensdag "zijn beleggers niet bereid op dit moment nog lager te gaan", zegt Michael Lynch, president van Strategic Energy & Economic Research. Veel marktpartijen wachten op meer duidelijkheid over het beeld van de Amerikaanse economie en de situatie in Griekenland, voegt Lynch toe.
   
   Zwakke Amerikaanse macrocijfers en zorgen over de Griekse schulden waren woensdag verantwoordelijk voor de scherpste daling sinds 11 mei.
   
   "Het draait allemaal om het vertrouwen in de markt en de economie. Woensdag was negatief voor het vertrouwen, en als resultaat daarvan daalde de olie behoorlijk agressief", zegt Jonathan Barratt, managing director van Commodity Broking Services in Sydney.
   
   Barratt verwacht dat de olieprijs op de korte termijn zal standhouden rond de $95 per vat en de komende maand mogelijk tot $88 per vat daalt.
   
   Het herstel van woensdag bleef donderdag beperkt, omdat de dollar terrein won ten opzichte van andere belangrijke valuta en daarmee de winst van woensdag een vervolg gaf.
   
   De olieprijs daalt doorgaans bij een stijgende dollar, omdat olie dan duurder wordt voor houders van andere valuta.
   
   
   Door Eelco Hiltermann; Dow Jones Nieuwsdienst; +31 20 571 5200; eelco.hiltermann@dowjones.com
   
5. voda 17 juni 2011 16:29

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   Olieprijs naar laagste niveau sinds februari
   Gepubliceerd op 17 jun 2011 om 13:37 | Views: 361
   
   LONDEN (AFN) - De prijs van een vat ruwe Amerikaanse olie heeft vrijdag het laagste niveau sinds februari bereikt vanwege zorgen over de Griekse schuldencrisis.
   
   De prijs van een vat ruwe Amerkaanse olie daalde met 1,2 procent tot 93,80 dollar. De prijs van een vat Brentolie uit de Noordzee ging 0,7 procent omlaag tot 113,28 dollar. De olieprijs ging in februari nog sterk omhoog vanwege de onrust in het Midden-Oosten.
   
   ,,Er is nog geen oplossing voor de Europese schuldencrisis'', zei een analist van Phillip Futures in Singapore. ,,Daarom denk ik dat de schuldencrisis de grondstoffenmarkt blijft beïnvloeden.'' Frankrijk en Duitsland willen dat er snel een oplossing komt voor de financiële problemen van Griekenland. Beide landen trekken één lijn. De Duitse bondskanselier Angela Merkel zei dat tijdens een ontmoeting met de Franse president Nicolas Sarkozy in Berlijn.
   
6. voda 17 juni 2011 16:48

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   International Energy Agency Says World Will Increasingly Turn to Americas for Oil
   By CLIFFORD KRAUSS
   
   16 June 2011
   Copyright 2011 The New York Times Company. All Rights Reserved.
   
   HOUSTON -- Over the next few years, world consumers are going to become more dependent on North and South America to satisfy their growing thirst for crude oil, according to a forecast to be released Thursday by the International Energy Agency.
   The Paris-based organization estimated that the world would increase total oil production every year between 2010 and 2016 by an average 1.1 million barrels a day -- roughly 100,000 barrels short of the expected increase in global demand over the period.
   ''After the sharp increase in oil demand in the second part of 2010 as the global economy recovered more quickly than anticipated from the recession, we now foresee higher mid-decade demand,'' the report said.
   Tightening oil markets along with spreading unrest in the Middle East have driven oil prices 25 percent higher in the last year. But on Wednesday, concerns about a weakening economy sent prices sharply lower. The benchmark light sweet crude oil in the United States fell $4.56 a barrel to close at $94.81. If a major global downturn occurs and begins a more lasting decline in energy demand and prices, as happened in late 2008 and 2009, it could throw off forecasts.
   The report warned that high oil prices ''are weighing down on an already-fragile macroeconomic and financial situation'' in the developed countries, while burdening the financial health of developing countries and pushing up inflation.
   The energy agency predicts that 40 percent of demand growth over the next few years will come from China, with most of the rest coming from elsewhere in Asia and the Middle East. The agency expects Europe and the United States to have generally flat energy demand, in large part because their economies are expected to grow less robustly than those in the developing world, while their vehicles should become increasingly efficient.
   Saudi Arabia and a handful of other mostly Middle Eastern countries with excess production capacity will have to supply more oil, but global markets will need to rely increasingly on producers outside the Organization of the Petroleum Exporting Countries. With production declining in Mexico and the North Sea, the energy agency suggested that Canada, Brazil, the United States and Colombia would need to take up the slack.
   The report projected that by 2016, Canada, already the most important source for United States oil imports, would produce 1.3 million additional barrels a day as it expanded production from the oil
   sands in Alberta. Brazil is projected to increase production by a million barrels a day because of major new offshore fields in deep waters.
   The United States, despite the slowdown in oil drilling in the Gulf of Mexico after the Deepwater Horizon disaster last year and declining production in Alaska, will produce an additional 500,000 barrels a day largely from expanded drilling in oil shale fields in North Dakota and Texas, the agency said.
   And Colombia is expected to increase production by 300,000 barrels a day, as a guerrilla insurgency's decline encourages international oil companies to return.
   The energy agency cautioned that its optimistic outlook for Canada depended partly on the United States government's approval of the Keystone XL pipeline, which would take more than 500,000 barrels a day of partly refined Canadian crude from the oil sands to Texas and Louisiana refineries for eventual distribution to the Northeast. Canada will most likely sell the excess crude to China if the pipeline is not approved, but the switch could produce years of delays.
   Environmentalists oppose the pipeline because they argue that production of oil from oil sands, which requires the burning of large amounts of natural gas, emits more greenhouse gases than production of most oil products used in the United States.
   OPEC will remain a vital source of world oil, the report said, noting that Iraq in particular held the potential to significantly increase exports over the next several years.
   In a separate report released last week, BP noted that world oil production rose 1.8 million barrels a day last year, with OPEC and non-OPEC producers each roughly responsible for half the growth.
   In a projection for 2030 made earlier in the year, BP said OPEC would be ''primarily'' responsible for meeting growing demand for liquid fuels, although it mentioned Canadian oil sands, deepwater drilling off Brazil, and the countries that made up the former Soviet Union as promising sources of future supplies.
   
   The New York Times Company
   
7. voda 17 juni 2011 16:50

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   US Saudi oil swap deal falls flat
   
   16 June 2011
   Copyright 2011. Dion Global Solutions Ltd.
   
   The highly secret oil swap deal between US and Saudi Arabia has fallen flat as crude prices are soaring to new heights.
   The plan was to exchange the high quality light sweet crude from US strategic petroleum reserve (SPR) with heavier low quality Saudi oil. But the deal could not see the light of day and was finally dropped.
   The idea was to supply SPR to European refineries facing shortage of crude oil after the Libyan crisis and the Saudi Arabia will in turn supply its ‘sour’ crude to refill the reserve.
   This back hand swap deal idea was even before the strategic meeting of OPEC nation’s June meeting and illustrates a recently deepening engagement between Saudi Arabia and the United States on oil affairs.
   The Saudis were concerned about the health of the global economy with oil prices surging above $100 a barrel. Riyadh knew that high prices, while good for short-term income, would cut fuel demand over the longer term.
   The SPR storage caverns in Texas and Louisiana have more than 700 million barrels of oil but most importantly they contain nearly 300 million barrels of sweet crude.
   
   Dion Global Solutions Ltd.
   
8. voda 20 juni 2011 16:35

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   Olieprijs daalt verder vanwege Griekenland
   Gepubliceerd op 20 jun 2011 om 12:06 | Views: 585
   
   LONDEN (AFN) - De olieprijs is maandag verder gedaald vanwege zorgen over de Griekse schuldencrisis. De ministers van Financiën van de eurolanden nemen begin juli een besluit over extra steun aan Griekenland. De private sector zal daarin een rol spelen.
   
   De prijs van een vat ruwe Amerikaanse olie daalde met 1,4 procent tot 91,72 dollar. De prijs van een vat Brentolie ging 1,4 procent omlaag tot 111,62 dollar.
   
   Griekenland kan binnenkort de volgende 12 miljard tegemoet zien van de lening van in totaal 110 miljard euro die het vorig jaar kreeg toegezegd van de eurolanden en het Internationaal Monetair Fonds (IMF). Voorwaarde is wel dat het Griekse parlement dinsdag instemt met de bezuinigingsplannen van premier George Papandreou.
   
9. voda 21 juni 2011 20:48

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   Crude Oil Fluctuates in N.Y. on Brent, Fuels Drop, Greek Confidence Vote
   
   By Margot Habiby - Jun 21, 2011 7:17 PM GMT+0200
   
   Oil fluctuated in New York as Brent crude and products tumbled and on speculation that Greek Prime Minister George Papandreou will win a confidence vote today.
   
   Futures climbed as much as 1.6 percent before erasing their gains as heating oil and gasoline dropped for a third day amid speculation that diesel fuel demand fell as supplies rose. The confidence vote in Greece may be the first step in preventing the nation from becoming the first euro-area country to default.
   
   “Products are struggling along with the Brent,” said Tom Bentz, a broker with BNP Paribas Commodity Futures Inc. in New York. “We had some optimism on the potential Greek deal in Europe.”
   
   Oil for July delivery fell 37 cents, or 0.4 percent, to $92.89 a barrel at 12:51 p.m. on the New York Mercantile Exchange. Futures have advanced 19 percent in the past year. The July contract expires at the close of floor trading today. The more actively traded August futures dropped 36 cents, or 0.4 percent, to $93.27 a barrel.
   
   “Liquidity’s thin and volume’s low with the expiration of the July contract,” said Stephen Schork, president of the Schork Group Inc. in Villanova, Pennsylvania. He said the market was flipping between gains and losses because of expiration- related volatility. “We don’t really have any other drivers. The markets just started moving lower.”
   
   Crude in New York has tumbled 18 percent from this year’s settlement high of $113.93, reached on April 29.
   
   Brent, Products
   
   The Energy Department will probably report tomorrow that stockpiles of distillate fuels, including heating oil and diesel, rose 550,000 barrels last week, according to the median estimate of 17 analysts in a survey by Bloomberg News. Demand for industrial, trucking and home-heating fuels sank 5.2 percent to 3.6 million barrels a day, a five-month low, in the week ended June 10, according to department data.
   
   Heating oil for July delivery fell 5.55 cents, or 1.9 percent, to $2.875 a gallon on the Nymex. Gasoline for July delivery declined 4.39 cents, or 1.5 percent, to $2.8676 a gallon on the exchange.
   
   Brent oil for August delivery decreased $1.42, or 1.3 percent, to $110.27 a barrel on the London-based ICE Futures Europe exchange. Prices have advanced 40 percent in the past year. Brent cost $17 a barrel more than Nymex August futures, down from a record $23.32 a barrel last week.
   
   Greek Vote
   
   European Union leaders have insisted Papandreou gain multiparty support for austerity measures that are a condition for the aid needed to avoid default as soon as next month.
   
   “If the Greeks can pass the confidence vote, the effect on equities and the dollar will provide more support for oil prices in the medium-term,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.
   
   The euro gained 0.7 percent against the dollar to $1.4398 in New York. Earlier, it touched $1.4422, the highest level since June 15. The dollar also fell against its most-traded counterparts as the Federal Reserve prepared to begin a two-day meeting amid signs the U.S. economy is slowing. The Dollar Index slipped 0.5 percent to 74.63, the lowest level since June 14.
   
   The Standard & Poor’s 500 Index advanced for a fourth day, its longest rally in three weeks. It advanced 1.2 percent to 1,293.83, and the Dow Jones Industrial Average increased 100.70 points, or 0.8 percent, to 12,181.08.
   
   Oil also dropped as sales of existing homes in the U.S., fell to the lowest level in six months in May, a sign the housing market is lagging other parts of the economy. Purchases fell 3.8 percent to a 4.81 million annual pace last month, in line with the 4.8 million median estimate in a Bloomberg survey of economists, data from the National Association of Realtors showed today in Washington.
   
   To contact the reporter on this story: Margot Habiby in Dallas at mhabiby@bloomberg.net.
   
   To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.
   
   www.bloomberg.com/news/2011-06-21/cru...
10. voda 21 juni 2011 21:34

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    Olieprijs sluit hoger
    
    
    AMSTERDAM (Dow Jones)--De prijs voor een vat ruwe olie is dinsdag hoger gesloten, op grond van de verwachting dat de Griekse regering een cruciale motie van vertrouwen overleeft en vanwege een zwakkere dollar.
    
    Een zwakke dollar maakt in dollar gewaardeerde grondstoffen, als olie, goedkoper voor beleggers uit niet-dollar-landen, waardoor de vraag naar olie dinsdag een steun in de rug kreeg.
    
    Opnieuw ging de aandacht van de beleggers dinsdag met name uit naar de situatie in Griekenland, waar later op de avond het debat over de motie van vertrouwen voor de regering Papandreou tot een einde komt.
    
    De olieprijs daalde tussentijds tot een niveau van $93, waarbij degenen die risico wilden nemen volgens Rich Ilczyszyn van Lind-Waldock overstapten naar de aandelenmarkten.
    
    De julifuture voor een vat ruwe olie sloot dinsdag op de New York Mercantile Exchange $0,44 hoger op $93,70.
    
    
    Door Patrick Buis; Dow Jones Nieuwsdienst; +31-20-5715200; patrick.buis@dowjones.com
    
12. voda 21 juni 2011 23:14

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    Crude Oil Futures Advance With Euro, Equities Before Greek Confidence Vote
    
    By Margot Habiby - Jun 21, 2011 10:50 PM GMT+0200
    
    Oil edged up for a second day in New York on speculation that Greek Prime Minister George Papandreou will win a confidence vote today, moving the country a step closer to avoiding a default on its debt.
    
    Futures climbed 14 cents and the euro rose against the dollar after European leaders said Greece can avoid a default. The weaker U.S. currency boosted commodities’ appeal as an alternative investment. Oil briefly fell after the International Energy Agency said Saudi Arabian oil production may be rising.
    
    “If the Greeks can pass the confidence vote, the effect on equities and the dollar will provide more support for oil prices,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.
    
    Oil for July delivery settled at $93.40 a barrel on the New York Mercantile Exchange. Futures have advanced 20 percent in the past year. Trading on the July contract expired today. The more actively traded August contract gained 54 cents, or 0.6 percent, to $94.17 a barrel.
    
    Prices fell from the settlement after the American Petroleum Institute reported at 4:30 p.m. that U.S. crude-oil stockpiles decreased 81,000 barrels to 363 million. August oil slipped 2 cents to $93.61 a barrel in electronic trading at 4:31 p.m.
    
    European Union leaders have insisted Papandreou gain multiparty support for austerity measures that are a condition for the aid needed to avoid default as soon as next month.
    
    The euro gained 0.7 percent against the dollar to $1.4402 at 3:12 p.m. in New York. Earlier, it touched $1.4423, the highest level since June 15.
    
    The Standard & Poor’s 500 Index gained 1.3 percent to 1,295.52, its biggest rally since April 20. The Dow Jones Industrial Average increased 109.63 points, or 0.9 percent, to 12,190.01.
    
    Saudi Production
    
    Earlier, crude tumbled as much as 0.8 percent after David Fyfe, head of the IEA’s industry and markets division, said that the agency is seeing signs Saudi oil production is rising.
    
    A Saudi industry official with knowledge of the matter said June 10 that the Saudi Arabian Oil Co., the kingdom’s state oil company, will pump more crude. The official declined to be identified.
    
    The official’s comments followed a June 8 meeting of the Organization of Petroleum Exporting Countries at which members failed to reach a consensus on a Saudi proposal to raise output to curb prices around $100 a barrel in New York. The kingdom is OPEC’s largest producer and has the bulk of its spare capacity.
    
    Domestic Use
    
    “There are indications that Saudi production is increasing,” Fyfe said in Washington. “At the same time, it takes time for that oil to get to the market, and Saudi domestic crude utilization will probably also be increasing in June and July.”
    
    Saudi Arabia burns petroleum during the hottest part of the year to generate electricity for its own population, boosting domestic consumption in the summer months. The IEA forecast earlier this month that third-quarter oil demand in the kingdom will jump 5.6 percent from the year-earlier period to 3.19 million barrels a day.
    
    The IEA is also monitoring markets to determine whether members need to release reserves. Brent crude fell after the IEA comments.
    
    “Rising Saudi Arabian oil production has finally registered with Brent crude traders,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “This added supply is what’s ultimately putting downward pressure on prices.”
    
    Venezuela Production
    
    Venezuela’s Oil Ministry also reported that production in the OPEC member rose to 2.82 million barrels a day in April from 2.75 million barrels a year earlier, according to an e-mailed report.
    
    Brent oil for August delivery fell 74 cents, or 0.7 percent, to $110.95 a barrel on the London-based ICE Futures Europe exchange. Prices have advanced 41 percent in the past year. Brent cost $16.78 a barrel more than Nymex August futures, down from a record $23.32 a barrel last week.
    
    U.S. crude supplies probably fell last week for the third consecutive time, according to the median of 16 analyst estimates in a Bloomberg News survey.
    
    U.S. inventories dropped 1.83 million barrels, or 0.5 percent, to 363.7 million in the seven days ended June 17, according to the analysts surveyed before the Energy Department’s report. Thirteen of the respondents forecast a decline, two projected a gain and one said there was no change.
    
    The Energy Department is scheduled to release its supply report at 10:30 a.m. tomorrow in Washington. The industry-funded American Petroleum Institute will report its own data today.
    
    China Supplies
    
    Stockpiles of crude oil in China fell 3.5 percent at the end of May from a month earlier, according to China Oil, Gas & Petrochemicals, a newsletter published every two weeks by the official Xinhua News Agency. The U.S. and China are the world’s two largest oil-consuming countries.
    
    Oil volume in electronic trading on the Nymex was 509,507 contracts as of 3:14 p.m. in New York. Volume totaled 568,531 contracts yesterday, 14 percent below the average of the past three months. Open interest was 1.53 million contracts.
    
    To contact the reporter on this story: Margot Habiby in Dallas at mhabiby@bloomberg.net.
    
    To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.
    
    www.bloomberg.com/news/2011-06-21/cru...
13. voda 22 juni 2011 17:20

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    Olievoorraden VS dalen sterker dan verwacht
    
    
    AMSTERDAM (Dow Jones)--De voorraden ruwe olie in de Verenigde Staten zijn vorige week harder gedaald dan verwacht, blijkt woensdag uit cijfers van de Amerikaanse Energy Information Administration.
    
    De voorraden ruwe olie daalden in de week eindigend op 17 juni met 1,7 miljoen vaten tot 363,8 miljoen vaten, waar vooraf door Dow Jones Nieuwsdienst geraadpleegde economen rekenden op een daling met 0,8 miljoen vaten.
    
    De benzinevoorraden daalden met 0,5 miljoen vaten tot 214,6 miljoen vaten, terwijl werd gerekend op een toename met 0,8 miljoen vaten.
    
    De voorraden stookolie en diesel namen toe met 1,2 miljoen vaten tot 142,0 miljoen vaten. Hier werd gerekend op een toename met 0,5 miljoen vaten.
    
    De capaciteitsbenutting van raffinaderijen steeg naar 89,2% van 86,1% vorige week. Gerekend werd op een stijging naar 86,4% benuttingsgraad ten opzichte van een week eerder.
    
    
    Door Ben Zwirs; Dow Jones Nieuwsdienst; +31-20-5715201; ben.zwirs@dowjones.com
    
    
    
14. voda 22 juni 2011 22:11

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    Olieprijs sluit hoger
    
    
    AMSTERDAM (Dow Jones)--De olieprijs is woensdag hoger gesloten, vooral vanwege een groter dan verwacht afname van de Amerikaanse olievoorraden.
    
    De augustusfuture voor een vat ruwe olie sloot woensdag op de New York Mercantile Exchange $1,24, of 1,3%, hoger op $95,41.
    
    De olieprijs liep geleidelijk op nadat het Amerikaanse ministerie van Energie meldde dat de olievoorraden vorige week zijn gedaald met 1,7 miljoen vaten. Dat was meer dan de 800.000 vaten die economen vooraf hadden verwacht.
    
    Verder daalden de benzinevoorraden met 500.000 vaten, waar op een toename met 800.000 vaten was gerekend. De voorraden stookolie en diesel namen met 1,2 miljoen vaten wel sterker toe dan verwacht.
    
    Al met al schetsten de data een bemoedigend beeld van de olie- en brandstofconsumptie in de VS, oordeelden analisten.
    
    Een deel van de winsten ging echter verloren nadat de Federal Reserve stelde dat het Amerikaans economisch herstel iets langzamer verloopt dan eerder werd verwacht, al zal de groei naar verwachting later in het jaar weer aantrekken.
    
    Marktpartijen stellen dat de boodschap van de Fed voor een groot deel gelijk was aan wat al eerder bekend is geworden. "De markten rekenden al min of meer op wat er uiteindelijk bekend werd", aldus Tom Bentz, directeur BNP Paribas Commodity Futures In New York.
    
    
    Door Ben Zwirs; Dow Jones Nieuwsdienst; +31-20-5715201; ben.zwirs@dowjones.com
    
    
    
15. voda 23 juni 2011 16:15

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    IEA compenseert wegvallen Libische olie
    Gepubliceerd op 23 jun 2011 om 15:42 | Views: 56
    
    PARIJS (AFN) - Het Internationaal Energie Agentschap (IEA) gaat de komende maand dagelijks 2 miljoen vaten olie op de markt brengen om het wegvallen van de olieproductie in Libië te compenseren. Dat heeft de organisatie donderdag bekendgemaakt.
    
    Het IEA schat dat door de burgeroorlog in Libië 132 miljoen vaten olie minder op de markt zijn gekomen dan normaal. Die krapte op de oliemarkt dreigt het fragiele herstel van de economie te ondermijnen, aldus de organisatie.
    
    Het bijspringen van de 28 IEA-leden lijkt een druppel op een gloeiende plaat. Wereldwijd worden er dagelijks in totaal circa 85 miljoen vaten olie verbruikt. Het IEA beschikt over een voorraad van 4,1 miljard vaten, waarvan 1,6 miljard worden aangehouden voor noodgevallen.
    
16. voda 23 juni 2011 16:23

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    Olieprijs onder druk na verklaring IEA
    
    
    AMSTERDAM (Dow Jones)--De prijs voor een vat ruwe olie staat donderdag onder druk, na de aankondiging van het Internationaal Energie Agentschap (IEA) dat de leden van de organisatie 60 miljoen extra vaten van hun strategische reserves vrijgeven om de stijgende olieprijs te beteugelen.
    
    Tevens staat de prijs voor een vat ruwe olie onder druk vanwege een onverwachte stijging van het aantal nieuwe aanvragen voor een werkloosheidsuitkering in de Verenigde Staten en een stijgende dollar.
    
    Omstreeks 16.10 uur noteert de augustusfuture voor een vat ruwe olie donderdag op de New York Mercantile Exchange $5,29 lager op $90,12 ten opzichte van het slot van woensdag.
    
    Het IEA meldde eerder op de dag dat zijn leden de komende 30 dagen 2 miljoen vaten olie extra per dag zullen vrijgeven om de effecten van het wegvallen van de olietoevoer uit het Noord-Afrikaanse Libie op te vangen.
    
    Donderdag bleek uit cijfers van de Amerikaanse Energy Information Administration dat de voorraden ruwe olie in de week eindigend op 17 juni met 1,7 miljoen vaten tot 363,8 miljoen vaten harder zijn gedaald dan verwacht. Gerekend werd op een daling met 0,8 miljoen vaten. De benzinevoorraden daalden met 0,5 miljoen vaten tot 214,6 miljoen vaten en de voorraden stookolie en diesel namen toe met 1,2 miljoen vaten tot 142,0 miljoen vaten.
    
    
    Door Patrick Buis; Dow Jones Nieuwsdienst; +31-20-5715200; patrick.buis@dowjones.com
    
17. voda 23 juni 2011 17:20

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    UPDATE 8-Oil rises on US inventory draw, market mulls Fed
    
    22 June 2011
    (c) 2011 Reuters Limited
    
    * U.S. Fed says will keep interest rates low
    * U.S. crude, gasoline inventories fall
    * Gasoline four-week average demand up
    * Coming Up: U.S. jobless claims, 8:30 a.m. EDT Thursday
    (Updates with settlement prices, market activity, details)
    By Gene Ramos
    
    NEW YORK, June 22 (Reuters)
    - Oil rose 3 percent on Wednesday, boosted by data showing a drop in
    U.S. crude and gasoline stockpiles as the market weighed comments from the U.S. Federal Reserve.
    Crude rallied early on news of lower throughput on a key import pipeline from Canada and a steeper than anticipated drop in U.S. crude stockpiles last week, according to data from the U.S. Energy Information Administration.
    Oil markets then extended gains after the Fed pledged to keep interest rates low in view of a slower pace of economic recovery, before giving up those gains in post settlement trade as the dollar gained as market mulled comments from Chairman Ben Bernanke.
    "The result of the low-interest rate policy continuing is a weaker environment for the dollar going forward... this sent the markets a signal for bulls to sow their oats a little," said Phil
    Flynn, analyst at PFGBest Research in Chicago.
    In London, ICE Brent crude for August delivery <LCOc1> settled at $114.21 a barrel, gaining $3.26. Brent hit a session high of $114.48, just below its $114.52 100-day moving average, according to Reuters data, but fell down to $113.50 after the settlement.
    U.S. August crude <CLc1> gained $1.24 to settle at $95.41 a barrel, dropping down to $94.54 in post-settlement activity. Brent's premium against U.S. crude hit $18.80 after ending at $17.05 on Tuesday. <CL-LCO1=R>.
    Trading volume in U.S. crude were light, at 30 percent below the 30-day average while volume in Brent crude was off 4 percent from the 30-day average.
    Oil earlier found support from U.S. oil inventory data, which showed U.S. crude stockpiles fell 1.7 million barrels in the week to June 17 as refinery utilization jumped 3.1 percent to 89.2 percent of capacity, data from the U.S. Energy Information Administration showed.
    Gasoline inventories fell by 464,000 barrels during the week as demand rose 0.9 percent year on year. [EIA/S]
    "Gasoline looks constructive with reasonable demand for June and a larger than expected draw," said Andy Lebow, broker at MF Global in New York.
    The surprise fall in U.S. gasoline stocks pushed gasoline futures more than 3 percent higher on the day. <RBc1>.
    Additional support came as TransCanada Corp said oil shipments on its Keystone pipeline, which carries oil from Alberta to Oklahoma, will be cut by 19.28 percent as it works on the line following two oil spills in May. [ID:nN1E75L0N3]
    
    U.S. ECONOMIC GROWTH AHEAD
    In its policy statement, the Fed projected that the current spike in commodity prices would be temporary and expects U.S. economic growth to improve in the second half of this year.
    However, it offered no clues on whether it there would be another round of quantitative easing.
    "We do believe that growth is going to pick up going into 2012 but at a somewhat slower pace from what we had anticipated in April," said Fed Chairman Ben Bernanke in a news conference hours after the Fed statement was issued.
    "We don't have a precise read on why this slower pace of growth is persisting," he added.
    U.S. oil prices are recovering from a four-month low of just above $91 hit on Monday, and analysts said a further strike towards $96 was possible, but much depends on the turnout of U.S. economic data due in the next two days.
    On Thursday, markets will watch for data on jobless benefit claims and new home sales. More importantly, they will look for signs of how the broader economy is faring with the final estimate of the nation's first quarter real GDP due on Friday.
    (Additional reporting by Robert Gibbons in New York; Simon Falush and Ikuko Kurahone in London; Manash Goswami in Singapore; Editing by John Picinich and Sofina Mirza-Reid)
    
    MARKETS-OIL (UPDATE 8)
    
    Reuters Limited
    
18. voda 23 juni 2011 20:03

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    Kuwait pumping crude oil at 3 MBPD
    
    Reuters reported that OPEC member Kuwait is currently pumping an average of 2.5 million to 2.7 million barrels per day of crude oil.
    
    Mr Mohammad Al Busairi oil minister of Kuwait said that "Our production now on average is around 2.55 million bpd to 2.7 million barrels per day and that is what the market needs or what our customer’s request."
    
    The latest monthly Reuters survey from late May showed that Kuwait, the world's fourth largest oil exporter was producing 2.44 million barrels per day in May.
    
    (Sourced from Reuters)
    
19. voda 23 juni 2011 21:49

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    Olieprijs sluit lager
    
    
    
    AMSTERDAM (Dow Jones)--De olieprijs is donderdag lager gesloten, vooral vanwege de bekendmaking op donderdag van het Internationaal Energie Agentschap (IEA) dat de leden van de organisatie 60 miljoen extra vaten van hun strategische reserves vrijgeven om de stijgende olieprijs te beteugelen.
    
    De augustusfuture voor een vat ruwe olie sloot donderdag op de New York Mercantile Exchange $4,39 lager op $91,02.
    
    De IEA besloot tot het vrijgeven van de 60 miljoen extra vaten om de effecten van het wegvallen van de olietoevoer uit het door gewapende conflicten geteisterde Libie op te vangen. De leden van de IEA zullen de komende 30 dagen 2 miljoen vaten olie extra per dag vrijgeven.
    
    De olieprijs stond al eerder onder druk nadat woensdag bleek dat de voorraden ruwe olie sterker gedaald zijn dan verwacht. Uit cijfers van de Amerikaanse Energy Information Administration bleek dat de voorraden ruwe olie in de week eindigend op 17 juni met 1,7 miljoen vaten afgenomen zijn, waar gerekend werd op een afname met 0,8 miljoen vaten. Daarnaast daalden de benzinevoorraden met 0,5 miljoen vaten, maar namen de voorraden stookolie en diesel toe met 1,2 miljoen vaten.
    
    De olieprijs stond donderdag eveneens onder druk door een onverwachte stijging van het aantal steunaanvragen in de VS en door een stijgende dollar.
    
    Het aantal eerste steunaanvragen in de VS voor de week eindigend op 18 juni steeg onverwacht met 9.000, waar gerekend was op een afname met 1.000 steunaanvragen.
    
    Daarnaast steeg de dollar sterk tussen de opening van de Europese aandelenmarkten en de sluiting van de oliehandel. Beleggers kregen omstreeks 20.50 uur voor elke euro nog maar $1,4166 terug, waar ze om circa 8.50 uur donderdagochtend nog $1,4302 voor elke euro terugkregen.
    
    
    Door Elco van Groningen; Dow Jones Nieuwsdienst; +31-20-5715200; elco.vangroningen@dowjones.com
    
    
    
20. voda 27 juni 2011 16:31

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    Olieprijs daalt tot onder de 90 dollar
    Gepubliceerd op 27 jun 2011 om 09:15 | Views: 390
    
    LONDEN (AFN) - De olieprijs is maandag verder gedaald vanwege zorgen over de schuldenscrisis in Griekenland en de maatregel van het Internationaal Energie Agentschap (IEA) om komende maand dagelijks 2 miljoen vaten olie extra op de markt brengen om het wegvallen van de olieproductie in Libië te compenseren.
    
    De prijs van een vat ruwe Amerikaanse olie daalde met 1,4 procent tot 89,88 dollar. De prijs van een vat Brentolie ging 2,6 procent omlaag tot 102,40 dollar.
    
21. voda 27 juni 2011 16:39

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    IEA May Have Strayed From Mission In Oil Stock Release -Analysts
    By James Herron
    24 June 2011
    (c) 2011 Dow Jones & Company, Inc.
    
    LONDON (Dow Jones)--The release of 60 million barrels of oil from emergency stocks announced by the International Energy Agency Thursday has served consumers well by lowering oil prices, but the agency may have strayed from its original mission in ways that could weaken it in the future, industry analysts said Friday.
    By working to avoid economic damage posed by high oil prices, rather than simply responding to a sudden disruption in oil supplies as it has in the past, analysts say the IEA risks politicizing relations with major oil producers and, if there are further stock releases, becoming less able to deal with future supply disruptions.
    Thursday's move "seems to have deviated from the normal objective of the IEA--reacting to a shortage of oil," said Dominick Chirichella, analyst at the Energy Management Institute.
    The IEA was founded in 1974 to make oil consumers better prepared to respond to sudden disruptions, such as the Arab oil embargo a year earlier, when some major exporters stopped selling oil to the U.S. and several other countries because of their support for Israel in the
    Arab-Israeli war. Each of its 28 member countries now holds oil stocks equivalent to 90 days of imports as a safety net.
    For only the third time in its history, the IEA said Thursday it will tap this reserve, releasing 2 million barrels a day of crude oil and refined products onto the market for 30 days.
    Previous releases occurred soon after major oil supply disruptions--the first Gulf War in 1991 and Hurricane Katrina in 2005. The IEA said the latest release is meant to offset the loss of around 1.5 million barrels a day of crude exports from Libya, due to the civil war there.
    But many analysts asked why the IEA has decided to release stocks now, when the Libyan civil war started in February.
    "The IEA's move comes at a surprising time, as we have known about lost Libyan output for three to four months," said Caroline Bain of the Economist Intelligence unit. "It does look as though it is somewhat politically motivated."
    The price of oil has again become a big political issue, particularly in the U.S. where gasoline prices have touched $4 a gallon in recent months. Following the failure of the Organization of Petroleum Exporting Countries to agree a production increase earlier this month, pressure on
    Western governments to act to reduce prices has been increasing.
    "If it can get the price down at gasoline pumps in U.S., then it's a wise political move," said Torbjorn Kjus, an oil market analyst at DnB NOR. "That should be good for [U.S. President Barack] Obama."
    Indeed, officials in the U.S. administration were quick to point out the key role the U.S. played, telling the Wall St Journal that President Obama and his advisers were the first to suggest the IEA release stocks and also smoothed its path with OPEC kingpin Saudi Arabia.
    Senior officials at the IEA said Thursday's release wasn't politically motivated. "This is not an action that is primarily being dictated by prices," said David Fyfe, head of the Oil Industry and Markets Division of the IEA. "It's about a real and actual disruption within the market."
    "Earlier this year when the Libyan crisis broke, refiner crude demand was at a seasonal low and therefore the IEA didn't respond at that time," said Fyfe. "We're now moving into the seasonal high point of refiner crude demand," and extra oil, particularly of the high quality Libyan
    variety, is badly needed, he said.
    From next month, the world will need an extra 1.5 million barrels a day of oil supply as refiners kick into high gear, the IEA says. The 2 million barrels a day of oil to be released from stocks for 30 days will help cover this elevated demand, at least until extra oil production promised by Saudi Arabia and other Gulf countries is available, Fyfe said.
    Nevertheless, analysts say there is a clear price motivation for the IEA's action. "The release of stocks suggests the IEA, as the representative of OECD consuming countries, wants prices to move decisively lower," said Helen Henton, head of Energy and Environment Research at Standard Chartered.
    Indeed, senior IEA officials have for months warned of the danger high oil prices pose to the world economy. "The global economy is still emerging from recession and it is essential that this recovery not be endangered by an oil supply shortage," said the agency's executive director, Nobuo Tanaka, as he announced the stock release.
    Herein lies the danger, analysts say. "The IEA is now in the business of being a central banker" to the oil market, said Chirichella. The market may come to view the emergency IEA stocks as just another source of extra oil supply, putting it in direct competition with the surplus production
    capacity held by OPEC, he said.
    "Hawks in OPEC may group together and possibly even cut back on production to offset the IEA release," said Chirichella. "If so it could result in a battle with the price of oil the main
    objective."
    -By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com [ 06-24-11
    1015ET ]
    
    Dow Jones & Company, Inc.