By Matt Kohlman | May 23, 2013 09:40 AM Comments (1)
Airlines flying from Houston to Chicago may want to load up on something other than passengers at the start of the trip — extra jet fuel.
Landlocked Chicago has the highest jet fuel price by far of any major spot market in the world, thanks mostly to refinery issues. At $129.13 a barrel Wednesday, May 22, it was $10 higher than the closest region, the perennially short North West Europe. In gallons, it was at $3.0745, or 35.55 cents higher than the highly liquid US Gulf Coast.
By News Desk | May 22, 2013 05:04 PM Comments (0)
US gasoline inventories jumped an unexpected 3.015 million barrels last week, driven by a rise in production and imports, data released by the US Energy Information Administration showed Wednesday. The data was bearish for NYMEX RBOB futures, with stocks on the Atlantic Coast –- home of the New York-delivery point for RBOB –- rising to their highest level since February 2012. You can read Platts’ analysis here.
By News Desk | May 15, 2013 01:43 PM Comments (0)
US crude inventories took a slight downward turn last week, away from several weeks of record highs. You can read Platts’ analysis here.
By News Desk | May 13, 2013 03:41 PM Comments (0)
After several months of cutbacks, Saudi Arabia reversed course in April and boosted its production. That led to an overall rise in the group’s output. You can see the full Platts analysis here.
By News Desk | May 13, 2013 12:01 AM Comments (2)
The North Dakota oil boom gives the state new funds. Lots of them. Lots and lots of them. Starr Spencer, in this week’s Oilgram News column At the Wellhead, discusses how the state is dealing with that cash.
By News Desk | May 8, 2013 03:11 PM Comments (0)
The continuing rise in US crude oil stocks added only a small amount to the country’s stockpile last week, but that means inventories were at yet another record. You can read Platts’ analysis of this week’s EIA report here.
By News Desk | May 6, 2013 12:01 AM Comments (1)
The wide Brent-WTI spread has meant enormous profits for US refiners lucky enough to take advantage of it. But it’s not as wide now, and that is bringing a new set of issues for those same companies. Janet McGurty looks at the issue in this week’s Oilgram News column, Petrodollars.
By Christine Forster | May 2, 2013 06:16 AM Comments (1)
Of the three oil and gas majors understood to be vying for a share of US-listed junior InterOil’s Gulf LNG project in Papua New Guinea, Shell is being tipped by some industry insiders as the bidder most likely to succeed.
The PNG government approved InterOil’s plans to develop the 3.8 million mt/year Gulf LNG project in November last year but has required that the company bring in a partner with a track record operating similar projects. At the same time the government said state-owned resources company Petromin would take a 50% stake in the onshore Elk and Antelope gas fields that will feed the LNG project.
By News Desk | May 1, 2013 05:47 PM Comments (0)
The weekly Energy Information Administration stocks report showed that the US now has more crude oil in storage than ever before. You can read Platts’ analysis here.
By News Desk | April 24, 2013 06:55 PM Comments (0)
US gasoline inventories sank 3.93 million barrels last week, according to data released Wednesday by the US Energy Information Administration. Gasoline stocks fell across the US, with the exception of the US Atlantic Coast, where inventories edged up 570,000 barrels on a rise in imports. Read the Platts analysis.
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