The Oil Man: Oil price, Sound, Faroe, Xcite
24th May 2016 09:31
WTI $48.08 -33c, Brent $48.35 -37c, Diff $0.27 -4c, NG $2.06 -1c
Another quiet day in the market; the greenback remains firm, exerting downward pressure on crude, and I suspect that the inventory stats may provide most of the excitement for the week.
Reuters findings are for a draw of 2.5 million barrels in crude, 1.3 million in gasoline and 1 million in distillates - we shall see.
North Yorkshire County Council finally approved fraccing for Third Energy and, whilst drilling isn't imminent, it will set a precedent…
Sound Energy
Results today from which, like others, are insignificant - the news on the Tendrara well is of more excitement.
The company announces that it is now drilled to the third and final casing point and is in the shale formation 50 metres away from the target TAGI reservoir.
Sundry
has spudded its Brasse exploration well near the Brage field in the Norwegian North Sea.
has said it remains in discussions with its bondholders ahead of the 30 June maturity…
And finally…
All eyes on Roland Garros today as Muzza fights back from two sets down against Stepanek - although he has clawed back a set and a break…
And Louis van Who?
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