By Rob Verdonck April 19 (Bloomberg) -- The following is a selection of the most important news affecting the oil market. Oil Falls to Three-Week Low on Goldman Concern, Dollar Strength Crude oil fell for a third day after the Securities and Exchange Commission sued Goldman Sachs Group Inc., while a stronger dollar damped the appeal of commodities for hedging inflation. TOP OIL STORIES Oil Tumbling in Options on OPEC Quotas, U.S. Demand OPEC violating production quotas at the same time as demand from industrialized nations stagnates is spurring bets in the oil market that the 13-month rally in crude is coming to an end. China Lends Venezuela $20 Billion, Secures Oil Supply China, the world’s second-biggest oil user, will lend Venezuela $20 billion and form a venture to pump crude from an Orinoco Belt block, President Hugo Chavez said as he promised to meet the Asian country’s energy needs. OPEC De Vasconcelos Says Oil Should Be ‘$70 to $80’ Barrel Jose Maria Botelho de Vasconcelos, Angola’s oil minister, said the price of oil is currently too high. Gas OPEC Boosting Output Sends Prices Lower for Worst Commodity Algeria, Africa’s biggest exporter of natural gas, is getting no help from Russia and Qatar in curbing production to increase prices in this year’s worst- performing energy commodity. REFINERIES Map global refinery outages Valero Reports Problems With FCC Unit at Port Arthur Refinery Valero Energy Corp. reported “fractionator problems” at a fluid catalytic cracker unit at its Port Arthur, Texas, refinery that resulted in intermittent flaring, according to a filing to the Texas Commission on Environmental Quality. The incident occurred at 11:11 p.m. local time April 17. Valero Reports ‘Brief’ Power Outage at Texas Refinery Valero Energy Corp. reported a “brief” power outage at its Three Rivers refinery in Texas. The incident occurred on April 16. Exxon Baytown Power Disruption Affects Cat Cracker Exxon Mobil Corp.’s Baytown, Texas, refinery, the largest in the U.S., was struck by power disruption on April 16 that affected a fluid catalytic cracker, a hydrocracker and a deasphalter unit. Imperial Shuts Alberta Fuel Process Unit for Repairs Imperial Oil Ltd. is shutting a process unit for planned work at its Strathcona refinery in Edmonton, Alberta, according to a message left on a community hotline. OTHER OIL MARKET NEWS Abu Dhabi’s National Petroleum Targets Nigeria, Libya Expansion National Petroleum Construction Co., an Abu Dhabi government-controlled oil-services company, is studying plans to expand into Nigeria, Libya and Kazakhstan, Chief Executive Officer Aqeel Madhi said. Europe Jet Fuel Buyers Cancel Orders, Operator Maintank Says Joachim Hessler, operations manager at Maintank Schiffahrtsgesellschaft mbH, comments on jet fuel demand as aircraft remain grounded across Europe. Asia Gasoil Refining Margins Fall; Fuel Oil Swaps Decline: Wrap Asian gasoil refining margins declined for a sixth day on concerns that supplies may increase as refiners limit the sale of diesel cargoes to Europe. Asia Gasoline, Naphtha Fall Most in Two Months on Crude: Wrap Asia gasoline and naphtha fell the most in more than two months, following crude oil lower on concern that prices have outpaced a recovery in global demand. One cargo each of gasoline and naphtha was traded in Singapore. Chile to Receive a Fifth Tanker of Clean Fuel From South Korea A fifth oil tanker may sail from South Korea to Chile this month as the Andean nation continues to import fuel from as far as Asia, more than seven weeks after an earthquake led to the closure of two refineries. Middle East Tanker Supply Drops to Parity as May Demand Looms The supply of supertankers competing for 2 million-barrel cargoes of Middle East crude fell to parity with expected demand as owners wait for the bulk of May demand to start this week. Frontline Buys Three Supertankers From Gulf, TradeWinds Reports Frontline Ltd. bought three supertankers from Gulf Marine Management, TradeWinds reported, without saying where it got the information. TOP ENERGY STORIES Cnooc Makes ‘Important’ Oil Discovery in Bohai Bay Cnooc Ltd., China’s largest offshore energy explorer, said it has made an “important” discovery in the Penglai 9-1 block in Bohai Bay. ‘Sleeping Giant’ Field Awakens as Apache, Forest Drill Sideways A half-century-old Texas field may become one of the most profitable U.S. natural-gas developments after new drilling techniques tapped liquid fuel deposits. OTHER MARKETS Stocks, Copper Fall, Yen Gains as Goldman Sued, Flights Curbed Stocks fell, with the benchmark emerging-market index sliding the most in two months, commodities dropped and the yen strengthened after calls for regulatory probes on Goldman Sachs Group Inc. widened to Europe. Airline shares sank as volcanic ash from Iceland halted flights for a fifth day. Volcano Ash May Reach Canada Coast, MET Office Says The ash cloud from the Icelandic volcanic eruption that grounded tens of thousands of flights in Europe last week may spread to Canada’s east coast today, according to the U.K. MET office. Canada Matching China Profits at 18% Discount Lure Record Cash Investors are pouring more money than ever into Canada, drawn by earnings growth that almost equals China’s and shares trading for 17 percent less. SPORTS Bryant Helps Lakers Open NBA Postseason With Win Over Thunder The Los Angeles Lakers began their postseason pursuit of a second straight National Basketball Association title with an 87-79 win over the Oklahoma City Thunder in which they led from start to finish. ENERGY PRICES Last Chg %Chg Exch Contract ---- ---- ---- ---- -------- WTI Crude ($/Bbl) 80.97 -2.27 -2.7 Nymex May Brent Crude ($/Bbl) 83.73 -2.26 -2.6 Ice May Gasoil ($/Ton) 691.25 -18.25 -2.6 Ice June Gasoline (c/Gal) 223.42 -4.28 -1.9 Nymex May Natural gas ($/MMBtu) 4.04 +0.01 +0.1 Nymex May Dated Brent ($/Bbl) 82.85 -1.94 -2.3 OTC 21 Days Other markets: Last %Chg ----- ----- Dollar Index 81.20 +0.5 Gold ($/Oz) 1,136.90 -2.0 MSCI World Index 1,213.12 -0.7 Prices as of 11 a.m. GMT For Related News and Information: Top Oil Stories: OTOP Energy Markets Home Page: NRG Oil Markets Homepage: OIL

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