BFW 04/13 03:13 *PHYSICAL OIL MARKETS STARTING TO WEAKEN, MORGAN STANLEY SAYS
BFW 04/13 03:13 *MORGAN STANLEY SEES GLOBAL OIL FUNDAMENTALS DETERIORATING
BFW 04/13 03:13 *MORGAN STANLEY SEES GLOBAL OIL FUNDAMENTALS DETERIORATING
Morgan Stanley Sees Global Oil Fundamentals Deteriorating
2015-04-13 03:24:40.564 GMT
By Ben Sharples
(Bloomberg) -- Global refining margins, while still
healthy, have fallen materially, Morgan Stanley says in e-mailed
report on Monday.
* Appetite for non-U.S. crudes should diminish as U.S. runs
increase during coming weeks, adding to product builds and
putting pressure on global refining margins
* Higher production/exports from Iraq, Libya, Saudi Arabia,
and Russia adding supply
* Brent 1-2 prompt structure has deteriorated to near floating
storage economics
* These factors and reports of slow sales of West African
cargoes were precursor to price correction last summer
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To contact the reporter on this story:
Ben Sharples in Melbourne at +61-3-9228-8732 or
bsharples@bloomberg.net
To contact the editor responsible for this story:
Pratish Narayanan at +65-6212-1898 or
pnarayanan9@bloomberg.net
2015-04-13 03:24:40.564 GMT
By Ben Sharples
(Bloomberg) -- Global refining margins, while still
healthy, have fallen materially, Morgan Stanley says in e-mailed
report on Monday.
* Appetite for non-U.S. crudes should diminish as U.S. runs
increase during coming weeks, adding to product builds and
putting pressure on global refining margins
* Higher production/exports from Iraq, Libya, Saudi Arabia,
and Russia adding supply
* Brent 1-2 prompt structure has deteriorated to near floating
storage economics
* These factors and reports of slow sales of West African
cargoes were precursor to price correction last summer
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Ben Sharples in Melbourne at +61-3-9228-8732 or
bsharples@bloomberg.net
To contact the editor responsible for this story:
Pratish Narayanan at +65-6212-1898 or
pnarayanan9@bloomberg.net