Physical oil prices around the world have begun to sag alongside futures, reflecting less alarm over Russian-led supply disruptions along with heightened worries about a possible global economic slowdown. "The market is very bearish at this moment.
* U.S. crude inventories up more than 5 million bbls. * U.S. inflation data softer than expected. * Gasoline demand improves, boosting confidence. By David Gaffen. Oil prices rose on Wednesday, rebounding from losses early in the session, helped by encouraging figures on U.S. gasoline demand and as lower-than-expected U.S. inflation data drove investors into riskier assets.
Ukraine's grain, oilseed, vegetable oil exports rose 22.7% in July versus June to 2.66 million tonnes thank to higher wheat and barley shipments, the agriculture ministry said on Wednesday. The ministry said in a statement the July's volume included 412,000 tonnes of wheat, 183,000 tonnes of barley, 1.1 million tonnes of corn, 362,100 tonnes of sunseed and tonnages of other commodities.
Oil prices rose on Wednesday, rebounding from losses early in the session, helped by encouraging figures on U.S. gasoline demand and as lower-than-expected U.S. inflation data drove investors into riskier assets.
British oil major BP and U.S. commodities trader Bunge Ltd (BG) have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale, newspaper Valor Economico reported on Tuesday.
Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday. International benchmark Brent crude jumped by $2 per barrel to trade near $98 as the news added to energy supply concerns, but turned negative later in the day.
Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday. Benchmark Brent crude oil jumped by $2 per barrel to trade near $98 as the news added to concerns about reduced energy supplies.
* Major LNG plant outages disrupt global supplies. * BP takes $500 mln hit to replace LNG cargoes -sources. * Shell, BP, Total scramble to find cargoes in spot market. By Ron Bousso and Marwa Rashad.
* Russia oil exports halted via southern leg of Druzhba pipeline. * EU puts forward 'final' text to resurrect Iran nuclear deal. * Dollar edges lower as traders await U.S. inflation report. * Recession, demand expectations also weigh on market. * Coming up: API supply report, 2030 GMT. By Laila Kearney.
British oil major BP and U.S. commodities trader Bunge Ltd (BG) have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale, newspaper Valor Economico reported on Tuesday.
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