Freight rates for dirty tankers in the East of Suez market have gone up sharply to hit their highest level so far in 2015 last week, amid strong demand to move crude and fuel oil and spike in interest for floating storage, said sources Monday.
Crude-oil futures moved in a narrow price range in early Asian trade Monday, with gains capped by worries about a recovery in U.S. shale-oil production and as OPEC's meeting draws closer.
The European Union is increasing pressure on Washington to include an energy chapter in a planned trans-Atlantic trade deal that would allow U.S. exports of natural gas and oil and reduce the bloc’s dependency on Russia.
Russian Foreign Minister Sergei Lavrov has urged the European Union to support the idea of a Moscow-backed pipeline that would bring natural gas across the Black Sea to Turkey and the rest of Europe.
Libyan state oil company AGOCO, which is active in the east of the OPEC member country, is producing about 270,000 barrels a day of crude, unchanged from a week ago, a company spokesman said on Sunday.