High summer can often be seen as a slow period, when the heat and prospect of a holiday can make it hard to work up the effort to make news. In the Northern Hemisphere, summer is in full force, and luckily for us, news is also heating up in the world of oil.
Posts Tagged ‘NYMEX’
By Elizabeth Bassett | May 13, 2015 12:01 AM Comments (1)
This month’s version of The Oil Big Five marks its first anniversary and we’re pleased to still be serving up a monthly dose of topics to keep an eye on in the global oil industry.
By News Desk | April 8, 2015 04:19 PM Comments (0)
US commercial crude oil stocks lifted to 482.393 million barrels for the week ended April 3 after adding 10.949 million barrels, the largest weekly build since 2001, according to the latest data from the US Energy Information Administration.
Even before the bearish data came out, NYMEX crude oil futures were trading in the red this morning, but the front-month contract dipped as low as $51.46/b after the news, falling $2.52/b. To read the full Platts analysis of the data, click here.
By Geoff Craig | March 5, 2015 08:29 AM Comments (0)
Spring might be around the corner, but for residents of New York and Boston who just experienced one of the coldest Februarys on record, the change in seasons cannot come soon enough.
By Jeff Ryser | June 10, 2014 01:22 PM Comments (0)
There has been considerable discussion of late about the lack of volatility in some key trading markets, and the impact that is having on trading groups, their profitability, and thus their interest in remaining engaged in certain markets.
The argument has been that low or relatively flat prices have driven some key trading firms — a fair number of which are big banks — from a number of commodity markets, including energy commodities. Some believe the liquidity of some of these markets has taken a hit as counterparties have left, both because of reduced profitability but also as a result of regulatory pressures.
By John Kingston | February 27, 2014 11:32 PM Comments (0)
By Samantha Santa Maria | January 14, 2014 03:45 PM Comments (1)
After the wallop of the polar vortex earlier this month that sent US gas demand and US Northeast gas prices soaring to all-time highs, one would think that the worst is over, no?
That would be a negative.
By News Desk | October 17, 2013 07:31 PM Comments (0)
Total US crude stocks — including stocks at the NYMEX crude delivery point of Cushing, Oklahoma — climbed last week, as refiners continued to cut runs. Refiners tend to reduce runs this time of year as they undergo maintenance, pulling down demand for crude. As a result of the lower runs, inventories for both distillate and gasoline fell last week. You can read our analysis of the numbers here.
By Alison Ciaccio | September 11, 2013 11:01 AM Comments (0)
US gasoline prices soared at the end of August, pushing to well over $3.10/gal in the futures market and more than $3.64/gal at the pump, as the US appeared poised to strike Syria. But a bid by Russian President Vladimir Putin to take custody of embattled Syrian President Bashar Assad’s chemical weapons has taken the heat off of oil futures as well as prices at the pump.
The intensity surrounding Syria and implications that a military strike could spill over to other, larger oil-producing countries, added a premium of risk to oil prices, which also translated to higher retail gasoline prices.
By News Desk | July 17, 2013 03:35 PM Comments (0)
US crude inventories fell 7 million barrels last week, as an increase in refinery runs trumped a rise in crude imports, data released by the US Energy Information Administration showed. US crude stocks have fallen roughly 27 million barrels over the past 3 weeks, although NYMEX crude futures were only slightly bullish Wednesday. Bearish for NYMEX RBOB futures, however, was a 3.06 million barrel build in US gasoline stocks. You can see Platts’ analysis of the numbers here.