Advertisement
UK markets close in 7 hours 58 minutes

  • FTSE 100

    8,070.57
    +46.70 (+0.58%)
     

  • FTSE 250

    19,653.34
    +53.95 (+0.28%)
     

  • AIM

    750.21
    +1.03 (+0.14%)
     

  • GBP/EUR

    1.1571
    -0.0018 (-0.16%)
     

  • GBP/USD

    1.2369
    +0.0019 (+0.15%)
     

  • Bitcoin GBP

    53,692.65
    +196.03 (+0.37%)
     

  • CMC Crypto 200

    1,397.25
    -17.50 (-1.24%)
     

  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     

  • DOW

    38,239.98
    +253.58 (+0.67%)
     

  • CRUDE OIL

    83.02
    +0.17 (+0.21%)
     

  • GOLD FUTURES

    2,321.30
    -25.10 (-1.07%)
     

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • HANG SENG

    16,798.56
    +286.87 (+1.74%)
     

  • DAX

    17,989.53
    +128.73 (+0.72%)
     

  • CAC 40

    8,065.35
    +24.99 (+0.31%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Abu Dhabi crude to head to Europe, replace Russian oil - sources

Florence Tan
Updated ·1-min read
The TotalEnergies logo sits on the company's headquarter skyscraper in the La Defense business district in Paris

By Florence Tan

SINGAPORE (Reuters) -A shipping unit of France's TotalEnergies has provisionally chartered a tanker to load Abu Dhabi crude in early May for Europe, the first such shipment in two years, according to traders and a shipping report on Monday.

CSSSA, TotalEnergies' shipping arm, chartered suezmax tanker Moscow Spirit to load 1 million barrels of Murban crude from the port of Jebel Dhanna in the United Arab Emirates for Britain on May 1-3 at a worldscale rate of 60 points, the shipping report showed.

Abu Dhabi's Das crude was last loaded for Italy in May 2020, Refinitiv Eikon data showed.

ADVERTISEMENT

The arbitrage window for Middle East crude to head to Europe opened after European buyers shunned Russian oil following Russia's invasion of Ukraine, what it calls "a special operation".

More cargoes of Abu Dhabi crude grades - Murban, Das and Upper Zakum - are expected to head to Europe in the months to come to replace the Russian shortfall as the European Union prepares more sanctions on Russian oil imports, traders said, possibly diverting some supplies away from Asia.

The global trade flow is "readjusting" to reflect changes in Russian oil supplies, one trader said.

Russia is Europe's biggest oil supplier, providing 26% of EU imported oil in 2020.

(Reporting by Florence Tan; Editing by Himani Sarkar, Robert Birsel)