Pope Francis is set to weigh in on the climate change debate in what has already caused a considerable buzz in the media, by equal measure prompting cheers from the green lobby and irritation among climate skeptics, even before the message has been released.
Archive for the ‘Platts analysis’ Category
By Frank Watson | May 22, 2015 06:00 AM Comments (6)
By Michael McCafferty | May 19, 2015 12:01 AM Comments (0)
The US dollar has fallen sharply over the past few months following an impressive push upward for nearly a year. This reversal has helped propel crude prices upward and, in turn, petrochemical prices — a relationship that occurs because crude and many other commodities are priced in US dollars. A weaker dollar means you need more of them to buy a barrel of crude, a bushel of wheat or a bag of polyethylene.
By Ashok Dutta | April 20, 2015 05:26 AM Comments (0)
By News Desk | April 15, 2015 05:24 PM Comments (0)
US commercial crude oil stocks rose 1.294 million barrels during the week ended April 10, marking the smallest build over the last 14 weeks, according to the latest data from the US Energy Information Administration.
Stocks now total 483.687 million barrels, and production and imports also fell during the week. For more information, including the refinery utilization rate, you can read the full Platts analysis here.
By News Desk | April 8, 2015 04:19 PM Comments (0)
US commercial crude oil stocks lifted to 482.393 million barrels for the week ended April 3 after adding 10.949 million barrels, the largest weekly build since 2001, according to the latest data from the US Energy Information Administration.
Even before the bearish data came out, NYMEX crude oil futures were trading in the red this morning, but the front-month contract dipped as low as $51.46/b after the news, falling $2.52/b. To read the full Platts analysis of the data, click here.
By Michael McCafferty | April 7, 2015 12:01 AM Comments (0)
Global crude markets have been highly unstable over the past nine months as market participants wrestle with a deluge of information. That stack of information includes increasing North American production, lower global demand rates, a stronger dollar and a changing OPEC stance. As a result, volatility — historic and implied — is at the highest level in years. The inherent relationship between crude and petrochemical prices is invariably creating more volatility in petrochemical markets, and the higher level of uncertainty will certainly lead to more evaluation of project feasibility.
By News Desk | April 1, 2015 04:09 PM Comments (0)
Total US commercial crude oil stocks built for the 12th consecutive week, rising 4.766 million barrels for the week ended March 27, according to data released today by the US Energy Information Administration.
Stocks now top more than 471 million barrels, and stocks at Cushing, Oklahoma, increased 2.63 million barrels to 58.94 million barrels. Since mid-June 2014, when NYMEX crude oil future prices began falling, production has decreased on a weekly basis only five times, indicating that the wave of US oil is no joke. (The terrible April Fools’ allusion was required.) To read the full Platts analysis — with a promise of no more terrible jokes — click here.
By News Desk | March 25, 2015 05:30 PM Comments (0)
While US crude oil production was almost flat for the week ended March 20, total commercial stocks increased 8.170 million barrels to 466.678 million barrels, according to data released today from the US Energy Information Administration.
Refineries were slightly more active during the week, with the utilization rate increasing 0.9 percentage point to 89% of operable capacity. Maintenance season has kept utilization rate under 90% since January 16, with the exception of one week. To read a total breakdown of the latest EIA data, see the Platts analysis here.
By News Desk | March 18, 2015 04:08 PM Comments (0)
The latest data from the US Energy Information Administration shows US crude oil stockpiles rose 9.62 million barrels during the week ended March 13, again surpassing analysts’ expectations about the build. At 458.51 million barrels, US stockpiles for this time of year are at the highest level seen in at least 80 years, the EIA said. Learn more about crude oil production, imports, refinery demand and regional stocks in our latest Platts analysis, which you can read here.
By News Desk | March 11, 2015 03:12 PM Comments (0)
After a few weeks of higher-than-expected stock builds, analysts did a great job of pegging the build to US commercial crude stocks for the week ended March 6.
According to the latest data from the US Energy Information Administration, stocks rose 4.5 million barrels for the week, just a bit above analysts’ expectations. The inventories now come in at 448.9 million barrels, pushing further into record-high territory. The data was also released just a day after the EIA said it expects US crude oil production to increase to 9.35 million b/d in 2015 and 9.49 million b/d in 2016 and that inventories are likely to continue growing over the next couple of months.
For the full Platts analysis of the latest EIA oil data, click here.