14 March (Argus) — Ice Brent crude futures pared some losses in early Asian trading hours after falling by more than $1/bl in the previous session.
At 04:00 GMT, the Ice front-month May Brent contract was at $70.32/bl, higher by 44¢/bl from its settlement on 13 March when the contract ended $1.07/bl lower.
The Nymex front-month April crude contract was at $67.02/bl, up by 47¢/bl from its settlement on 13 March when the contract ended $1.13/bl lower.
Putin said at a press conference in Moscow that he may call US president Donald Trump to discuss the idea. Kyiv agreed to the ceasefire at a meeting between Ukrainian and US officials in Jeddah, Saudi Arabia on 11 March.
Trump, speaking to reporters at the White House shortly after Putin made his remarks, indicated that the US and Russia have already been discussing key details, including "pieces of land that would be kept and lost, and all of the other elements of a final agreement". The US has told Ukraine that joining Nato is unrealistic, Trump said, addressing a key Putin demand.
The US Treasury Department imposed sanctions on Iran's oil minister Mohsen Paknejad, and added 13 oil tankers and 17 trading firms to its sanctions list over their alleged involvement in transporting Iranian crude to buyers in China.
The new sanctions come just one day after Iran's supreme leader, Ayatollah Ali Khamenei, rebuffed Trump's overtures to reopen negotiations over Iran's nuclear program. "Negotiations for them are about control and serve as a path to new expectations," Khamenei said.
Elsewhere in the US, the EIA said if there is a lapse of appropriations resulting from a potential government shutdown, "there will not be an immediate impact" on operations and the agency will "continue to collect and publish data on our regular schedule". During a shutdown in 2013, the agency halted its data collection and reports when it ran out of funding.
In Asia, Chinese refiners are set to collectively receive less term crude from Saudi Arabia's state-controlled Saudi Aramco in April compared to March. Aramco will provide its customers in China with around 1.2mn b/d of April term crude, less than the 1.32mn b/d of March-loading term crude they received in March.
It was unclear if the lower volumes are a result of lower nominations by Chinese refiners, although some market participants said some Chinese customers may have reduced their requests for term crude because the official formula prices remain uncompetitive despite Aramco trimming prices for Asia-bound exports.
14 March (Argus) — Ice Brent crude futures pared some losses in early Asian trading hours after falling by more than $1/bl in the previous session.
At 04:00 GMT, the Ice front-month May Brent contract was at $70.32/bl, higher by 44¢/bl from its settlement on 13 March when the contract ended $1.07/bl lower.
The Nymex front-month April crude contract was at $67.02/bl, up by 47¢/bl from its settlement on 13 March when the contract ended $1.13/bl lower.
Russian president Vladimir Putin has not committed to the US-proposed 30-day ceasefire to the war in Ukraine, instead pushing for broader talks with the US.
Putin said at a press conference in Moscow that he may call US president Donald Trump to discuss the idea. Kyiv agreed to the ceasefire at a meeting between Ukrainian and US officials in Jeddah, Saudi Arabia on 11 March.
Trump, speaking to reporters at the White House shortly after Putin made his remarks, indicated that the US and Russia have already been discussing key details, including "pieces of land that would be kept and lost, and all of the other elements of a final agreement". The US has told Ukraine that joining Nato is unrealistic, Trump said, addressing a key Putin demand.
The US Treasury Department imposed sanctions on Iran's oil minister Mohsen Paknejad, and added 13 oil tankers and 17 trading firms to its sanctions list over their alleged involvement in transporting Iranian crude to buyers in China.
The new sanctions come just one day after Iran's supreme leader, Ayatollah Ali Khamenei, rebuffed Trump's overtures to reopen negotiations over Iran's nuclear program. "Negotiations for them are about control and serve as a path to new expectations," Khamenei said.
Elsewhere in the US, the EIA said if there is a lapse of appropriations resulting from a potential government shutdown, "there will not be an immediate impact" on operations and the agency will "continue to collect and publish data on our regular schedule". During a shutdown in 2013, the agency halted its data collection and reports when it ran out of funding.
In Asia, Chinese refiners are set to collectively receive less term crude from Saudi Arabia's state-controlled Saudi Aramco in April compared to March. Aramco will provide its customers in China with around 1.2mn b/d of April term crude, less than the 1.32mn b/d of March-loading term crude they received in March.
It was unclear if the lower volumes are a result of lower nominations by Chinese refiners, although some market participants said some Chinese customers may have reduced their requests for term crude because the official formula prices remain uncompetitive despite Aramco trimming prices for Asia-bound exports.
By YouLiang Chay