Posts Tagged ‘crude oil’

EIA analysis: US crude stocks show unexpected draw

US crude oil, gasoline and distillate inventories fell across the board last week. Run rates last week fell to lows not seen since the beginning of the summer.

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Takeoff, eh? At time of need, New York jet fuel heads to Canada

New York jet fuel prices spiked from mid-July through August, and new data gives more insight why. Blame Canada.

Canada may be sending everything from comedians and crude into the US. But in July, it took in a good bit of US jet fuel, mostly out of New York.

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EIA analysis: big draw in crude oil stocks

US crude oil stocks took an unexpected downturn last week. You can see our analysis of the latest Energy Information Administration inventory report here.

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One more time: Canadian Western Select crude oil headed from Montreal to the US Gulf

The Greece-registered Minerva Glory oil tanker is expected to load another parcel of Western Canadian Select from Sorel, Montreal, Quebec.

This is the second parcel of WCS heavy sour crude to move out of Montreal. The destination of the Minerva Glory is not clear but players say it is most likely bound for the US Gulf Coast. The first parcel of WCS was shipped end-July to Louisiana.

Suncor has confirmed it is the seller of the parcel. Its need for the crude is probably diminished; it has begun maintenance work at its 137,000 b/d Montreal refinery. The maintenance is scheduled to last 11 weeks.

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EIA oil analysis: overall small changes, bigger changes underneath

The overall change in US crude oil inventories was relatively small last week, according to the EIA data released today. But there were some bigger regional shifts underneath those total numbers. You can read our analysis here.

The Oil Big Five: Some of the same, some of the new

When we began the Oil Big Five posts, we had an idea of featuring brand-new items every single month. But that whole saying about people forgetting history being doomed to repeat it?

It came to mind this month when we were soliciting suggestions from our Platts oil editors and analysts for this month’s listing. Big issues don’t go away quickly, and in an industry as large and complicated as global oil, it’s doubly true.

That said, we do have several new issues on the list this month, as well as some follow-ups to previous topics. Be sure to comment here, on Facebook or on Twitter (use the hashtag #oilbig5), and we look forward to featuring your comments. Tell us what you’re thinking about, and here’s what we’re most focused on at the moment:

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IEA again looks to OPEC to balance 2014 market

The International Energy Agency on Tuesday cut its oil demand growth forecast for 2014 for a number of reasons, not the least of which is a weaker global economic outlook than previously thought and lower oil supplies in the second quarter.

But even though the world won’t need as much oil this year as IEA earlier thought, that doesn’t mean it won’t need more crude from OPEC.

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The Oil Big Five: Unleash the Kalavrvta!

It can often feel as though many of the big issues or trends in the oil industry are happening on a level unseen by the general public. July, though, brought some big news stories straight to the mainstream media and a wider audience, and these were developments our oil editors and analysts at Platts were watching closely.

Welcome to the latest iteration of The Oil Big Five, when we ask our Platts oil insiders what they believe are the biggest trends or issues in the global oil industry. These are topics we spent a lot of time researching, writing about and analyzing in July, as well as issues we’re keeping an eye on for August.

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On US oil exports, offshore safety, crude-by-rail, how long will the government delay?

It has become a routine in Washington to explain the government’s inability to react to changes in the marketplace by blaming the swift pace of technological change. The latest such admission came last week when Commerce Secretary Penny Pritzker spoke about US crude exports.

“Technology is advancing faster than existing regulations,” Pritzker said during an appearance at the Aspen Ideas Festival. She said there was a “serious conversation” going on within the administration on crude export policy. “The question is what [are] the right exports and what is the right amount of exports.”

Similar admissions have come from other officials on the topic of transporting crude by rail and ensuring the safety of offshore drilling. In all three cases, industry has wisely not waited for Washington to act. Innovation marches on and companies put huge amounts of capital at risk to advance new ways to produce and move energy resources.

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The Oil Big Five: Your comments include Iraq, Africa, refining, and OPEC

You’ve read about the big topics our Platts experts think are most interesting for July, and now we want to turn our attention to our readers.

In our monthly The Oil Big Five feature, we poll our global oil experts for what they consider the most pressing or interesting aspects of the oil industry at the moment. We follow each post by rounding up some of the comments, and below you can see (in no particular order) some of the reactions we had from our readers, both on the blog as well as on social media.

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