The draw in crude oil stocks reported by the Energy Information Administration wasn’t of the size that the American Petroleum Institute shocked the market with a day earlier, but it was large nonetheless. You can see our analysis of it here.
Archive for the ‘oil fundamentals’ Category
By News Desk | December 4, 2013 02:38 PM Comments (0)
By John Kingston | December 2, 2013 11:17 AM Comments (1)
The price of gasoline in the US usually goes up before every holiday. At least, so sayeth a blog post by The Atlantic, an august publication if there ever was one.
That declaration was made without any hesitation in this blog post by Todd Woody, described as an environmental and technology journalist: “Gasoline prices typically rise during holidays—and that’s particularly true for Thanksgiving, when the roads are the most crowded.”
It takes about five minutes of playing on the EIA website and with Excel to reveal that claim is absurd.
By John Kingston | November 27, 2013 03:54 PM Comments (0)
Some turkey nuggets the day before Thanksgiving on the EIA monthly report on September US petroleum data, released today:
By Joshua Brown | November 27, 2013 12:01 AM Comments (0)
Two new arbitrages have opened in the last month for two vastly different crude markets, both created by the abundant supply coming out of North America’s ever-growing production and low seasonal demand.
Indian Oil Corp. bought a cargo of White Rose crude oil on November 21, marking the first time the state-owned company reached out to the Canadian East Coast for crude supply.
By News Desk | November 26, 2013 10:10 PM Comments (0)
By John Kingston | November 22, 2013 04:51 PM Comments (0)
The annual commodities market outlook of Citi Research, headed by Edward Morse, is a sweeping arc over everything from shale gas to Indonesian nickel supplies. It was released earlier this week, and then given some additional insight at a media briefing this morning.
Citi’s overall message continues to be that the commodity super cycle is waning. “Commodities are cyclical,” Morse said. “They follow investment patterns that are lumpy and when you get relatively low prices, you get under investment.”
Thus sets off the cycle, he added. That under-investment pushes prices up, which Morse said “creates an incentive to invest and produce more commodities. I think we’re in a period where record capital expenditures have resulted in an oversupply.”
By Herman Wang | November 21, 2013 04:20 PM Comments (1)
Much of the rhetoric surrounding the US Renewable Fuel Standard centers around the notion of home-grown fuels enhancing American energy security and independence.
That puts Leticia Phillips in a bit of a delicate situation, as she advocates for Brazilian sugar cane ethanol’s place in the US renewable fuel mix.
Phillips is the North American representative for UNICA, the Brazilian sugar cane industry association. And though lawmakers and the Obama administration have played up their support for domestically produced biofuels, Phillips said Brazilian ethanol has an ace up its sleeve: its lower life-cycle emissions, when compared to US corn-derived ethanol.
By News Desk | November 20, 2013 03:30 PM Comments (0)
By Bridget Hunsucker | November 20, 2013 12:01 AM Comments (0)
The Louisiana Light Sweet prompt crude price has disconnected from its traditional price spread relationships as a light sweet crude wave invades the US Gulf Coast.
Traditionally, the price of coastal-based benchmark LLS was connected more to the price of imported crudes, and therefore, the price of Brent. And up until lately, LLS traded mostly at a premium.
But this relationship has changed dramatically.
By News Desk | November 14, 2013 02:28 PM Comments (0)