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Oil prices this afternoon losing all the gains of this morning#

At 16.36am, WTI crude was down to $48.79/bbl, while Brent eased to $54.75/bb

At 8.46am, WTI crude was down 1.16% to $49.51/bbl, while Brent eased 0.75% to $56.67/bb

OIL PRICES

This morning
Brent added 1.3% to $55.65 a barrel, while US crude futures rose 1.8% to $50.02 a barrel.

Crude oil futures rallied after Saudi Arabia raised prices for sales to Asia, taking back some of their sharp losses marked before the holiday weekend after Thursday's preliminary agreement between Iran and global powers on Tehran's nuclear programme.

price well up at close
Brent up to $57.78 a barrel, while US crude futures rising to $51.89 at close

double

MAM's problem, both post did not show, anyhow no post anywhere would show at the time

moving over earlier highs and spiking

15.50pm crude oil traded at $52.89 a barrel and Brent at $58.45.

RECOMMENDED CASH AND SHARE OFFER FOR BG GRROUP PLC

Summary

The Boards of Shell and BG are pleased to announce that they have reached agreement on the terms of a recommended cash and share offer to be made by Shell for the entire issued and to be issued share capital of BG.

· Under the terms of the Combination, BG Shareholders will be entitled to receive:

For each BG Share: 383 pence in cash; and

0.4454 Shell B Shares[1]

· Based on the 90 trading day volume weighted average price of 2,170.3 pence per Shell B Share on 7 April 2015 (being the last Business Day before the date of this Announcement), the terms of the Combination represent:

- a value of approximately 1,350 pence per BG Share; and

- a premium of approximately 52% to the 90 trading day volume weighted average price of 890.4 pence per BG Share on 7 April 2015.

· Based on the Closing Price of 2,208.5 pence per Shell B Share on 7 April 2015 (being the last Business Day before the date of this Announcement), the terms of the Combination represent:

- a value of approximately 1,367 pence per BG Share;

- a premium of approximately 50% to the Closing Price of 910.4 pence per BG Share on 7 April 2015; and

- a value of approximately £47.0 billion for BG's entire issued and to be issued share capital.

· The Combination will result in BG Shareholders owning approximately 19% of the Combined Group.

· Shell expects the Combination to accelerate its growth strategy in global LNG and deep water.

· The Combination will add some 25% to Shell's proved oil and gas reserves[2] and 20% to production, each on a 2014 basis, and provide Shell with enhanced positions in competitive new oil and gas projects, particularly in Australia LNG and Brazil deep water.

· The Combination has the potential to unlock further value for both sets of shareholders from the combined portfolio. An enhanced set of upstream positions will be a springboard to high-grade the Combined Group's longer term portfolio, increase asset sales and reduce capital investment, thereby enhancing the Combined Group's capacity to pay dividends and undertake share buybacks.

· Shell expects the Combination to generate pre‑tax synergies of approximately $2.5 billion per annum (which have been reported on) and has also identified further significant opportunities.

· In the near term, BG Shareholders will benefit from the dividends enjoyed by Shell Shareholders.[3] Shell today confirms its intention to pay dividends of $1.88 per ordinary share in 2015 and at least that amount in 2016.

· In the medium term, all shareholders will benefit from the potential for enhanced cash flow and a continued drive to grow returns and enhance capital efficiency from the combined portfolio.

· Shell expects to commence a share buyback programme in 2017 of at least $25 billion for the period 2017 to 2020.[4] Shell expects this programme to offset the shares issued under the Shell scrip dividend programme and to significantly reduce the equity issued in connection with the Combination.

more....

Oil plunges as inventory glut keeps building

FINANCIAL TIMES Oil - the big drop

At 8.45am, WTI crude was up 1.43% to $51.14/bbl, while Brent was up 1.55% to $56.41/bbl.
Crude took a hammering yesterday on larger than expected US inventories. Yemen, Greece and Iran remain concerns.

crude prices continue to fluctuate wildly as the traders have fun and games
however, i can tell you categorically that saudi has stopped all new and even existing well development
the likes of schlumberger and halliburton are doing their nuts, as only 2/3 months ago, everything was hammering ahead, and then aramco, who controls these things, put up the shutters almost o'night

Pound / dollar at YTD low.

At 11.38am, WTI crude was up 1.63% to $52.48/bbl. Brent rose 1.52% to $58.75/bbl

AT EARLY MORNING THEY REACHED A HIGH OF $53.05 and $59.50

broke $54 WTI crude and $60 Brent,

very strong since yesterday afternoon

Spiking again $55 and $59.80 now

Brent crude hits 2015 highs as U.S. production slows

losing over $1 since earlier highs for both oils

At 11am ,well up WTI $57.65 and Brent to $63.66

a $2 swing ( down earlier and back up now )

so now is back to this morning opening

As oil price losing ground............

Oil Prices Fall as Saudi-Led Military Operation in Yemen Ends

NEW YORK--Oil prices Tuesday fell as a Saudi-led coalition announced the end of its nearly monthlong military operation in Yemen, lowering concerns violence in the Middle East could affect oil production.

Though Yemen has little oil production, the military campaign had sparked fears that the violence could spread to other oil-exporting countries in the region and interrupt output there.

"I don't think anybody expected the military operation to end so quickly, " said Phil Flynn, analyst at the Price Futures Group in Chicago. In the oil market, "it definitely accelerated the selling."

Light, sweet crude for May delivery settled down $1.12, or 2%, to $55.26 a barrel on the New York Mercantile Exchange, a one-week low. The May contract expired at settlement Tuesday. The more-actively traded June contract fell $1.27, or 2.2%, to $56.61 a barrel.

Brent, the global benchmark, settled down $1.37, or 2.2%, to $62.08 a barrel on ICE Futures Europe.

Market participants are also waiting for the latest U.S. supply data, due Wednesday. U.S. crude-oil supplies are at their highest level in more than 80 years.

Analysts surveyed by The Wall Street Journal expect the report to show that oil stockpiles rose by 2.8 million barrels last week, while gasoline supplies fell by 800,000 barrels and stocks of distillates, including diesel fuel and heating oil, are expected to rise by 1.1 million barrels.

The American Petroleum Institute, an industry group, will release its own U.S. inventory data later Tuesday.

The U.S. Energy Information Administration has reported a drop in weekly production in two of the past three reports, and many market watchers are also waiting to see if the trend will continue.

"The weekly numbers on production are an estimated output of a model, rather than being observed data," and therefore are unreliable, said Citigroup in a note. "The risk to the market is now that the rally has come too soon for supply to get meaningfully curtailed," which could set prices up to drop again in the second half of the year, the bank said.

U.S. oil prices have risen close to 30% since a low in March on expectations the oversupplied market will come into balance later in the year. But analysts have warned that though U.S. oil production could stop growing or even fall in the coming months, other major producers are still pumping at a fast pace, exacerbating the global glut.

"While the shift in sentiment isn't necessarily flawed, the swing to the extreme is overdone," said analysts at London-based consultancy Energy Aspects.

At opening
WTI crude oil traded at $56.26 a barrel and Brent at $62.08.

but now further down
at 9.30am
WTI crude oil traded at $55.86 a barrel and Brent at $61.47

Brent crude holds near 4-1/2 month high on U.S. rig count, Yemen