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TOP Oil Market News: Crude Trades Near 4-Month High in New York

08 Jan 2013

Oil Trades Near Four-Month High as Run Rates, Supply Seen Rising

Oil traded near the highest level in almost four months inNew York before a government report that may show refinery utilization rose and stockpiles increased in the U.S., the world’s biggest crude-consuming nation.

Oil Supply Seen Rising in Survey as Imports Gain: Energy Markets

U.S. crude inventories probably rose after the biggest weekly drop in almost a dozen years as imports rebounded, a Bloomberg survey showed.

Oil Tanker Overseas Reymar Hits San Francisco’s Bay Bridge (1)

The oil tanker Overseas Reymar struck “a glancing blow”to a tower of the San Francisco-Oakland Bay Bridge after unloading crude at a Royal Dutch Shell Plc refinery the day before.

Asia’s Fuel Oil Crack Narrows; Jet Fuel Increases: Oil Products

Asia’s fuel oil crack spread narrows, signaling reduced losses for refiners turning crude into residual products. Jet fuel’s regrade extends gains.

Oil Options Volatility Rises From Lowest Level in Eight Months

Oil options volatility rose from an eight-month low as the underlying futures increased.

Saigon Petroleum Seeks to Buy Gasoil Cargo for February Loading

Saigon Petroleum Co. is seeking to buy 10,000 metric tons of gasoil for loading from Feb. 10 to Feb. 14, according to a tender document obtained by Bloomberg News.

Taiwan’s CPC Offers to Sell 30,000 Tons of Gasoline for February

CPC Corp. offered to sell 30,000 metric tons of gasoline for loading in February, according to a tender document obtained by Bloomberg News.

Shell’s Grounded Arctic Drilling Rig Towed to Safe Harbor (2)

Royal Dutch Shell Plc and a salvage crew refloated an Arctic drilling rig that ran aground in Alaska and towed it to a safe harbor.

TOP Oil Market News: Crude Trades Near Four-Month High in N.Y.

The following is a selection of the most important news affecting the oil market.

Solar Mosaic’s Crowdfunding Beats Treasuries With 4.5% Return

Solar Mosaic Inc., which operates an online service that lets individuals fund solar projects, said investors can earn a 4.5 percent return on rooftop power plants, better than 10-year Treasuries that currently yield about 1.9 percent.

Lower-48 Natural Gas Output Rose 0.4% in October, EIA Says (1)

Natural gas production in the lower- 48 states rose to a record in October as more of the fuel was pumped from shale formations, the Energy Department said.

U.K. Says Ex-Deutsche Bank’s Lovegrove to Head Energy Department

The U.K. appointed Stephen Lovegrove, a former head of Deutsche Bank AG’s European media team, as permanent secretary, or the top official, at the Department of Energy and Climate Change.