For the first time since Donald Trump was inaugurated president, more of the benchmark commodity prices tracked by S&P Global Platts since he took office are now slightly higher than when President Obama left. Until November, most prices had struggled to see their averages match — or surpass — the levels on the last day Obama held the office.
Posts tagged ‘crude’
 
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December 5, 2017 20:31 UTC 
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US oil pipeline companies were calling their lawyers in Washington last week after regulators said a practice that has apparently become commonplace in the industry violates federal law. The order by the Federal Energy Regulatory Commission involves marketing affiliates of pipelines that buy space on the parent company’s system and then resell it — sometimes at a lower rate than the published tariff. |
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December 5, 2017 05:01 UTC
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The US crude blend LOOP Sour was lighter and sweeter in November, even as the Louisiana Offshore Oil Port saw increased imports of Iraqi Basrah Light and Kuwaiti crude oil. The oil terminal allocates one of its eight underground caverns to a medium sour blend comprised of US Gulf of Mexico grades Mars and Poseidon and a blend of Middle Eastern crudes called Segregation 17, which is comprised of Arab Medium, Basrah Light and Kuwait Export crude. |
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November 30, 2017 05:01 UTC
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The floodgates have opened. The game has changed. The possibilities are endless. This is the worst — absolutely. Choose any of those expressions or phrases to explain some aspect of the global oil market — a market featuring US exports, OPEC cuts, an improving world economy, yet declining oil demand long-term. |
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November 21, 2017 05:01 UTC
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Four tankers are on their way to the Louisiana Offshore Oil Port, three likely carrying Iraqi crude and a fourth partly laden with unknown barrels, according to cFlow, Platts’ trade-flow software. The VLCC Sophia sailed from Iraq through the Suez Canal and the Strait of Gibraltar and is now set to arrive at LOOP on December 2. Meanwhile, the Front Earl is taking a more traditional route around the Horn of Africa and is expected to arrive at LOOP on December 12. |
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November 17, 2017 05:01 UTC
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November is upon us and temperatures across the US are beginning to fall as oil prices rise to year-to-date highs. Looking at the average 12-month forward curve for WTI, oil prices rose to $54.19/b in early November, an increase of $2.62/b month over month. |
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November 14, 2017 05:01 UTC
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Imports of Iraqi crude oil to the Louisiana Offshore Oil Port declined from September to October as US Gulf Coast refiners experienced fall turnaround season and as the Dubai/WTI spread remained historically wide. |
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November 8, 2017 05:01 UTC
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It has been a little more than nine months since President Donald Trump took office, and although most hard commodity prices are lower than the day he was sworn in, there are signs of life. For the first time since July 2, 2015, the price of Dated Brent — driven by strong demand — topped $60/b in late October, pushing its running average during the Trump presidency to $52.28/b. That’s still below the price of Dated Brent the day before Trump took the oath of office — $53.31/b on January 19 — and almost 38% below the $83.63/b average during Barack Obama’s two terms. |
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November 8, 2017 00:30 UTC
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The Middle East’s oil superpowers are butting heads. Saudi Arabia has escalated a bitter feud by accusing Iran of an “act of war” following a rebel missile attack on Riyadh. The stakes are high for both protagonists but their belligerence has its limitations. Neither side can afford their OPEC pact to be broken by conflict. |
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November 3, 2017 17:26 UTC
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A key aim of the Renewable Fuel Standard was to reduce US dependence on foreign oil while increasing the use of renewable fuels when it was passed in 2005. Yet today it could be poised to have the opposite effect on imports, as some US refiners say they are being crushed by the high cost of compliance which, in turn, could lead to closure of some refineries — and increased dependence on foreign oil. |