WTI $51.65 -68c, Brent $57.05 +20c, Diff $5.40 -12c, NG $2.68 -3c
A very quick blog today, partly as there is not much news out there and partly as I am headed to the smoke to see Rob Shepherd amongst others in a tube-free environment.
All quiet on the trading front as we approach the last 48 hours before a decision has to be made in Vienna, signs are still that a deal will be accommodated but it’s by no means certain.
The EIA stats, whilst showing a modest build of 384/- barrels still foxed the analysts who were going for a draw.
A trading update from Prems this morning but not much to add to what we already know to be honest. Production is motoring along at 60.3/- b/d still ahead of guidance which remains at 55/- and an active hedging programme has ensured that revenues are in good nick under the circumstances. Solan and Catcher are progressing well enough and there has been exploration success in the Falklands at Zebedee and Isobel Deep. The Premier share price has fallen back recently with the oil price but I remain of the view that it is amongst the best managed companies in the sector at present.
So, at Wimbledon Muzza will meet Roger in the semis whilst Djoko will face Gasket who beat Stan the man in a five set thriller.
And at Cardiff just think how bad it would have been if Brad Haddin had taken that catch and got rid of Joe Root, probably about all square after day one…