Posts tagged ‘crude’

John-Laurent Tronche
Managing editor, Americas crude oil

Narrow sweet-sour spread prompts Saharan Blend import into LOOP: In the LOOP

August 1, 2017 05:01 UTC

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The Louisiana Offshore Oil Port last week saw a rare tanker of light sweet crude, evidence of US Gulf Coast refiners looking to run more sweet crudes as a result of the narrower sweet-sour crude spread.

Trafigura last week imported into LOOP 700,000 barrels of 44.3 API Saharan Blend on the tanker Cape Baxley. That is the first time the crude has arrived at LOOP since at least September 2015, though Valero typically imports about 1 million barrels/month of Saharan Blend into nearby Gramercy, Louisiana.

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crude, crude oil, exports, imports, In the LOOP, LOOP, LOOP Sour, margins, oil, refiners, refining, spreads, US, US Gulf Coast

Eklavya Gupte and Peter Farrell
Editors

Unlikely humanitarians – shippers returning to Libya face a tough moral dilemma

July 25, 2017 11:00 UTC

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A surge in Libyan oil exports — production has increased sharply in the past few months, jumping to four-year highs of over 1 million b/d this month — is seeing more and more oil tankers travel to and from the North African country’s key oil terminals, increasing tanker activity and pushing up freight rates in the Mediterranean. So far, so good for shipowners.

But as more tankers call at Libyan ports, something which they were happy to avoid altogether less than a year ago, they can find themselves being drawn into the role of unlikely — and possibly begrudging — humanitarians.

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Africa, crude, geopolitics, human health and environmental impacts, Italy, Libya, Middle East, shipowners, shippers, shipping, tankers, vessels

Matt Andre
Senior energy analyst

Rising US rig counts slow as oil prices remain below $50/b

July 21, 2017 05:01 UTC

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There are many contributing factors that are causing US oil prices to remain suppressed. Part of the reason is that petroleum inventories are not declining as quickly as some market participants had expected. Also, there are concerns that persistent production growth in the US will delay the market’s ability to balance. Additionally, production has rebounded in Libya and Nigeria, which has offset some of the efficacy of the OPEC-led production cut.

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Bakken, crude, crude oil, drilling, Eagle Ford, economics, finances, IRR, oil, oil drilling, Permian, prices, production, rig count, rig counts, rigs, US, WTI

John-Laurent Tronche
Managing editor, Americas crude oil

Recent LOOP Sour rally evidence of persistent, global sour shortage: In the LOOP

July 18, 2017 20:11 UTC

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The Louisiana Offshore Oil Port received no imports of Saudi Arabian or Iraqi crudes by the halfway point of July, evidence of the global sour crude shortage and competition for those barrels that has led to rising prices for regional grades such as LOOP Sour, which has increased in value by 60 cents/b over the past month alone, an analysis of Platts Analytics and S&P Global Platts data shows.

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crude, crude oil, exports, imports, In the LOOP, LOOP, LOOP Sour, oil, trade, trade flows, US, VLCC

Joseph Innace
Platts metals content director, Americas

Gasoline and gold, ethanol and aluminum, post price gains in June: Of Presidents and Prices

July 11, 2017 05:01 UTC

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The S&P Global Platts commodities price watch during President Donald Trump’s term recently wrapped up its first five months, and the price averages since he became president (on January 20, through June 30, 2017) for oil, natural gas, and coal continue to struggle. Two metals have gained – aluminum and gold, while steel pricing is slightly weaker and iron ore prices down more sharply.

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agriculture, aluminum, coal, crude, crude oil, dated Brent, ethanol, fuel oil, gas, gasoline, gold, iron ore, jet fuel, markets, metals, natural gas, Obama, Of Presidents and Prices, prices, steel, Trump, US

Ross McCracken
Managing editor, Energy Economist

OPEC: Deeper crude oil output cuts?

June 29, 2017 12:30 UTC

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OPEC and its associated non-OPEC producers’ decision in May to extend their production cuts for an additional nine months through to end-March 2018 has not been met with overwhelming enthusiasm by the oil market.

In fact, quite the contrary; the price of Dated Brent sunk from above $53/barrel in May to just $44.46/b June 23, although it has rebounded slightly in recent days to $46.47/b June 28.

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crude, crude oil, dated Brent, EIA, Iraq, Libya, non-OPEC, Oil Prices, oil production, OPEC, output, rig count, Saudi Arabia, shale

Joseph Innace
Platts metals content director, Americas

A mixed May bag in commodities: Of Presidents and Prices

June 7, 2017 10:00 UTC

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The commodities price watch during President Donald Trump’s term continues. As part of this ongoing series, here are the price averages for some key S&P Global Platts commodity benchmarks since he became president on January 20, through May 31, 2017.

Of the 11 commodities tracked, six have lost value since he took the oath of office, and five have gained. The laggards are: thermal coal, -12.7%; natural gas, -6.2%; iron ore, -3.7%; fuel oil, -3.1%; Brent, -1.3%; and jet fuel, -1.1%.

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Neil Ford
Freelance consultant and journalist

Cautious progress in Libya’s oil output

May 16, 2017 23:01 UTC

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Rising Libyan oil production is primarily the result of the military success of General Khalifa Haftar, whose so-called Libyan National Army forces are wresting unitary control of the oil supply chain from a patchwork of local militias.

These advances have forced the UN-backed Government of National Accord to the negotiating table, raising the prospect of a political settlement that would reinforce the gradual and fragile movement towards normalization in the country.

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Africa, crude, crude oil, geopolitics, Libya, supply

Ross McCracken
Managing editor, Energy Economist

Can electrification penetrate the heavy-duty vehicle sector?

May 16, 2017 05:01 UTC

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“Daddy, when I grow up, should I become a petroleum engineer?”

As noted frequently in Platts monthly newsletter Energy Economist, the decarbonization of transport seems for many limited to the light passenger vehicle market. The general assumption is that battery density is insufficient for heavy-duty vehicles. The all-electric aeroplane, for example, has as much chance of getting off the ground as an ostrich.

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automobiles, batteries, CNG, crude, crude oil, electricity, emissions, ExxonMobil, IEA, International Energy Agency, LNG, oil, Statoil, supply/demand, Transportation

Joseph Innace
Platts metals content director, Americas

Trump’s first 100 days come and go: Of Presidents and Prices

May 5, 2017 05:01 UTC

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The commodities price watch after President Donald Trump’s first 100 days is a mixed bag, with four commodities losing value since he took office and seven gaining.

In this ongoing series, S&P Global Platts presents the price averages for some key commodity Platts benchmarks since Trump became president on January 20, through April 30, 2017.

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