US gasoline inventories climbed an unexpected 1.7 million barrels last week, as refiners continued to increase runs, and imports climbed. A 1.541 million barrel stock build on the US Atlantic Coast was considered bearish for the New York-delivered NYMEX RBOB contract. You can see Platts analysis here.
Posts Tagged ‘NYMEX’
EIA analysis: a jump in gasoline inventories that wasn’t expected
By News Desk | April 10, 2013 03:31 PM Comments (0)
Heating oil’s future doesn’t look so hot in the US
By Matthew Kohlman and Joshua Brown | March 27, 2013 03:26 PM Comments (0)
Heating oil as we know it is slowly but surely vanishing.
CME Group will officially switch the basis of the NYMEX heating oil futures contract from actual heating oil to ultra low sulfur diesel on April 1, a move signifying the beginning of the end for the once-dominant fuel.
The NYMEX switch was prompted largely by increasingly strict sulfur maximums in the US Northeast states, which are the largest consumers of heating oil.
EIA analysis: US crude stocks tumble on low imports, jump in product inventory
By News Desk | January 4, 2013 05:32 PM Comments (0)
US crude stocks tumbled 11.12 million barrels last week, with the draw concentrated in the US Gulf Coast. Little impact was seen on NYMEX crude prices, however. Large stocks draws at this time of year are not unusual. Imports into the USGC have been falling in recent weeks, most likely because refiners look to keep inventories low at the end of the year for tax purposes. Read Platts’ analysis.
The InterContinental Exchange — the mouse that roared — takes on the Big Board
By Melanie Wold | December 27, 2012 09:43 AM Comments (1)
In the year 2000, a tiny upstart energy exchange was born in Atlanta, Georgia. It began by building an electronic trading system for electricity and natural gas, something that was a popular idea at the time.
But it was – perhaps – before its time.
EIA analysis: US crude stocks climb a surprise 5.896 million barrels
By News Desk | October 24, 2012 05:55 PM Comments (0)
US crude stocks climbed 5.896 million barrels last week, according to data released Wednesday by the EIA. The stock build, which was driven primarily by higher imports into the Gulf Coast, caused the inventory surplus to grow, putting pressure on NYMEX crude futures. You can read the Platts analysis here.
Back to the oil flash crash: the role of options studied
By James Bambino | September 28, 2012 04:30 PM Comments (0)
In the aftermath of the sharp selloff in NYMEX crude futures nearly two weeks ago, analysts and pundits remain conflicted about how and why the front-month contract fell more than $3/b in just one minute. As we wrote earlier, analysts and pundits just don’t seem to know what happened.
Unfortunately, NYMEX crude options data available to us at Platts — which often tell a story beneath the surface — does not provide much of an answer either. Sometimes any one, or a combination of, volume, open interest, implied volatility and put/call ratios offer a small glimpse into the minds of traders both before and after big moves in the benchmark price.
A week later, the question remains: what caused oil’s flash crash?
By John Kingston | September 25, 2012 11:04 AM Comments (3)
When oil markets last week suddenly plunged by several dollars in a few minutes–a petroleum version of the equity market’s “flash crash” of a few years ago–nobody really knew why it happened.
It was entertaining the next day to read news accounts trying to find an explanation for the fall. In a market filled with people who get paid for their boastful certainty, the most common response was: I don’t know. That was refreshing.
Futures industry fights another tax proposal, but could this one become law?
By Brian Scheid | September 20, 2012 10:06 AM Comments (4)
This week, a third-term congressman from Minnesota unveiled a bill that closely resembles a long line of unsuccessful legislative and budget proposals that have faced harsh opposition from the futures industry.
The bill would tax futures, swaps and other transactions and at least indirectly addresses two pressing issues on the minds of many voters this election season: the growing national deficit and the public’s apparent distaste over the financial services industry.
“It’s a tax that suits the times,” said Carl Ginsburg, a spokesman for the Robin Hood Tax Campaign, a major supporter of the bill.
QE3 and SPR: How oil futures could react to these opposing forces
By Alison Ciaccio | September 12, 2012 02:51 PM Comments (0)
The crude oil market has been in a tizzy with talk of a fresh round of quantitative easing possibly coming to a head on Thursday. But another variable remains in the back of traders’ minds as rumors of a possible release from the US Strategic Petroleum Reserve continues to stir.
Jet lag: Hedged US airlines not capturing falling fuel prices
By Matt Kohlman | June 26, 2012 11:31 PM Comments (0)
US jet fuel costs have fallen by a fifth this quarter. Don’t be surprised if you don’t see it in your ticket prices yet. US airlines aren’t seeing it in their fuel costs yet, either.
There’s typically a lag in spot trading price changes for commodities being felt at the pump. But the jet lag — pardon the pun — isn’t just distribution. It’s also hedging.