OIL PRICES: ABOVE $66
BLOOMBERG - Oil traded near the highest close in more than two years after an explosion at a pipeline carrying crude to Libya's biggest export terminal curbed the OPEC nation's production.
Futures were little changed in New York after rising 2.6 percent on Tuesday and breaching $60 a barrel for the first time since June 2015. A pipeline run by Waha Oil Company that carries crude to Libya's Es Sider terminal exploded Tuesday, reducing output by 70,000-100,000 barrels a day. Meanwhile, Saudi Arabia is said to expect oil revenue to jump about 80 percent by 2023 to help the kingdom record its first budget surplus in a decade.
Oil is heading for a second yearly advance as the Organization of Petroleum Exporting Countries and its allies including Russia prolong supply curbs through the end of 2018. Prices gained this month after a separate pipe in the U.K. -- one of the most important conduits in the world -- was shut because of a crack. Partial flows have now restarted at the Forties Pipeline System's Kinneil facility, operator Ineos Group said.
"The pipeline explosion in Libya is a lot more serious as it may take a long time to restore, which can be a long-term driver of oil prices," Kim Kwangrae, a commodities analyst at Samsung Futures Inc. in Seoul, said by phone. "The disruption is considered detrimental enough to dry up some of the global glut."
West Texas Intermediate for February delivery was at $59.87 a barrel on the New York Mercantile Exchange, down 10 cents, at 7:54 a.m. in London. Total volume traded was about 39 percent below the 100-day average. Futures rose to as high as $60.01 a barrel in the previous session. At the settlement on Tuesday, they gained $1.50 to $59.97.
Brent for February settlement lost 20 cents to $66.82 a barrel on the London-based ICE Futures Europe exchange. Prices climbed $1.77, or 2.7 percent, to $67.02 a barrel Tuesday, the highest close since May 2015. The global benchmark crude traded at a premium of $6.95 to WTI.
Output in Libya, where oil fields have endured sporadic shutdowns and disruptions due to protests, power blackouts and fighting, rose to about 1 million barrels a day this year, the highest level in four years. Any drop in production due to the blast that occurred 130 kilometers (81 miles) south of Sidra will ease pressure on OPEC-led efforts to drain a glut.
Under a six-year program to balance the budget, officials predict rising prices and expanded output will push Saudi Arabia's income from oil sales to 801.4 billion riyals ($214 billion) from 440 billion riyals this year, said people with knowledge of the matter.
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FRB - Industrial production rose 0.5 percent in March after increasing 1.0 percent in February; the index advanced 4.5 percent at an annual rate for the first quarter as a whole. After having climbed 1.5 percent in February, manufacturing production edged up 0.1 percent in March. Mining output rose 1.0 percent, mostly as a result of gains in oil and gas extraction and in support activities for mining. The index for utilities jumped 3.0 percent after being suppressed in February by warmer-than-normal temperatures. At 107.2 percent of its 2012 average, total industrial production was 4.3 percent higher in March than it was a year earlier. Capacity utilization for the industrial sector moved up 0.3 percentage point in March to 78.0 percent, a rate that is 1.8 percentage points below its long-run (1972–2017) average.
AOG - Kuwait plans to invest $113bn over the next five years to enhance oil exploration and production activities both inside and outside the country
МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 марта по 14 апреля 2018 года составила $ 65,80125 за баррель, или $ 480,3 за тонну.
REUTERS - Oil prices slipped with Brent crude futures LCOc1 off 66 cents at $71.92 a barrel, while U.S. crude CLc1 fell 56 cents to $66.83 a barrel.