The weekly data from the Energy Information Administration showed a significant build in crude oil stocks. Our analysis of those numbers is here.
Archive for the ‘oil’ Category
By Matt Kohlman | October 21, 2014 11:41 AM Comments (0)
I flew two different airlines last week. Both were packed.
Despite Ebola fears. Despite high ticket prices. Despite a slowing global economy. Despite high jet fuel prices.
Wait. Scratch that last one.
Spot market jet fuel prices have plunged as much as 50 cents below the 2014 average.
By Jordan Godwin | October 17, 2014 04:10 PM Comments (3)
Don’t look now, but the ethanol blendwall is back.
That 10% cap of how much ethanol can be blended into the US gasoline pool was a fiery issue in the Big Oil vs. Big Farm battle in 2013.
And believe it or not, the number has quietly but quickly crept back up into dangerous territory.
By News Desk | October 16, 2014 04:11 PM Comments (0)
By John Kingston | October 16, 2014 12:37 PM Comments (0)
A few snippets from a conference call Ed Morse and his team at Citi held today on the decline in oil prices.
By Joshua Brown | October 14, 2014 01:29 PM Comments (0)
Three North American crude exports — two from Canada and one from Alaska — captured headlines the last few weeks because of their unusual departure and arrival points.
Phillips 66 exported a cargo of Alaska North Slope crude to South Korea on September 26, the first time the grade had been exported since 2004. Sources indicated the shipment was a one-off and that the tanker was likely headed for dry dock to undergo maintenance.
However, the ever-growing rise in cheaper Bakken crude has displaced other grades on the West Coast, and a very narrow Brent/WTI spread has made Brent-based imports from Latin America and the Middle East much more profitable than WTI-based crudes like ANS.
By Stuart Elliott | October 14, 2014 10:30 AM Comments (1)
With crude prices at near four-year lows, the last thing the world’s key oil producers want to hear is that demand growth is set to weaken yet further.
But that was the message from the International Energy Agency in its latest monthly oil market report published today.
By John Kingston | October 13, 2014 10:24 AM Comments (3)
Phil Verleger has a long memory.
Phil is a veteran energy economist, and he and I have been emailing each other over the course of the last week, recalling the oil price collapse of the mid 1980’s. As he noted, there are a dwindling number of of people still in the industry who remember that. But I had just joined Platts when the great collapse of 1985-1986 took place. On April 1, 1986, WTI plunged to less than $10 and no, it wasn’t an April Fool’s joke. (It remains the only day in the history of the WTI contract, launched in 1983, that the price ever “printed” a number less than double digits. It has never settled at less than $10.)
In his latest weekly report, Phil recalls that fall, as well as the collapse of 1998-1999. While WTI prices didn’t drop below the $10 level in the late 90’s, the levels of that period, after adjusting for inflation, were the lowest in history.
By Robert Perkins | October 13, 2014 04:45 AM Comments (0)
By News Desk | October 8, 2014 05:26 PM Comments (0)
US crude, gasoline and distillate stocks rose across the board last week, according to US Energy Information Administration oil data released Wednesday. Canadian crude imports increased 494,000 b/d to 3.25 million b/d, setting a weekly record high.