WTI $55.26 -$1.12, Brent $62.08 -$1.37, Diff $5.82 -$1.25, NG $2.58 +4c

Oil price

It’s a short blog today as news is a bit thin on the ground and I am off to TipTV and then meeting companies.

The oil price has weakened slightly although the differential has narrowed, this morning Brent is down another 50 cents while WTI, having expired overnight has gained about the same. The API inventory stats were again weak, at a time when one might expect some signs of relief from months of stock build there was no pleasant news last night. Indeed against consensus of a build of 2.4m barrels it turned out at plus 5.5m which, if confirmed by the EIA numbers tonight will put further pressure on the system.

Nabors figures last night beat the whisper, again quite comfortably as EPS came in at 20 cents against the consensus of only 4c, maybe analysts over there are being overly cautious even though for Nabors the rig count must be hurting real bad, as they say.

Thalassa Holdings

It is nice to report good news from Thalassa which is a company that long time readers will know that I like a lot. Yesterday they announced that subsidiary WGP Group had won a contract for seismic services to TGS-NOPEC whereby WGP will acquire high resolution 3D data sets in the SE Barents Sea region. Chairman Duncan Soukop said that this would make a meaningful contribution to the top and bottom line and mean a positive underlying profit can be expected for 2015 which is good news.

And finally…

A wet and sticky start in Grenada meant that England inserted the Windies and got of to a good start without totally dominating, they should polish it off today and post a decent total though. The selectors were not brave enough to play the leggie which is a shame…

Last night Bayern Munich turned it on big time, those supporters shouldn’t have worried as the beat Porto 6-1. Barca also crept through 2-0, tonight Real play Athletico, interestingly in the last 7 games Real havent won one…

But the real football news last night came at FC United of Manchester as they beat Stourbridge 1-0 to secure promotion out of the Evo-Stik Premiership and are now only a possible two years away from the league itself. Formed when those detestable Glazers arrived in town, the club is run and owned by the fans and it would be great to see them continue the zero to heroes story.