LOOP Sour becomes heavier, more sour for December: In The LOOP
The US crude blend LOOP Sour was heavier and more sour in December, with about 52% of imported barrels consisting of heavy sour grades.
U.S. gasoline prices increased in 2017
(Thu, 04 Jan 2018) Crude oil prices ended 2017 at $60/barrel (b), the highest end-of-year price since 2013. West Texas Intermediate (WTI) crude oil prices averaged $51/b in 2017, up $7/b from the 2016 average, and ended the year $6/b higher than at the end of 2016. Brent prices have moved up $10/b since the end of 2016 and ended the year at $65/b, widening the Brent-WTI spread to $5/b at the end of the year, the largest difference since 2013.
Crude oil prices increased in 2017, and Brent-WTI spread widened
(Wed, 03 Jan 2018) Crude oil prices ended 2017 at the highest levels since 2013. West Texas Intermediate (WTI) crude oil prices averaged $51/b in 2017, up $7/b from the 2016 average, and ended the year at $60/b, $6/b higher than at the end of 2016. Brent prices have moved up $10/b since the end of 2016 and ended the year at $65/b, widening the Brent-WTI spread to $5/b at the end of the year, the largest difference since 2013.
Energy commodity prices increased in the second half of 2017
(Tue, 02 Jan 2018) After decreasing nearly 20% in the first half of 2017, the spot energy index in the Standard and Poor's (S&P) Goldman Sachs Commodity Index (GSCI) ended 2017 16% higher than the beginning of the year. Higher crude oil and petroleum product prices in the second half of 2017 were responsible for the increase in the S&P GSCI energy index.
Containers: Will carriers finally get pot of gold in 2018?
The container market may be poised for a stronger 2018 amid continued demand growth and carrier consolidation, but only if box rates provide better profit margins. This will depend on annual contract prices and spot box rates.
Dry bulk: Panamaxes set for firm Q1 on Chinese grains demand
The Atlantic Panamax market is set for a firm start of 2018, on sustained grains demand from China and expected high exports volumes from S America and the US. According to the IGC, 2018 will see global soybeans imports rise by 4% to 153 mil mt, led by the Chinese appetite which is expected to account for more than 60% of the total exports.
Dry Bulk: Atlantic Supramax market set for firm Q1
The Atlantic Supramax market is set for a strong first quarter of 2018, with a relatively late Chinese Lunar New Year holiday providing a some respite in January and early February for trade to resume after the holidays.
New Wolfcamp formation maps
(Thu, 21 Dec 2017) EIA published new structure and thickness maps for the Wolfcamp formation, one of the main oil producing reservoirs of the Permian basin, as well as and an updated map of the major structural and tectonic features of the Permian basin region (see âPermian Basinâ section). Shapefiles for these maps are also available at the bottom of the linked page.
Oil and gold looking a little bit more "normal" as 2017 draws to a close
At a pre-conference dinner before November's Platts Digital Commodities Summit, the conversation naturally turned to bitcoin and other cryptocurrencies, and the rejection – and disdain – that many supporters of the entire crypto movement have for what are known as "fiat currencies."
U.S. biodiesel production still increasing despite expiration of tax credit
(Fri, 15 Dec 2017) Through the first nine months of 2017, U.S. biodiesel production levels were slightly higher than 2016 levels, despite the expiration of a federal biodiesel blender's tax credit at the end of 2016. Domestic biodiesel production may continue to increase because of changes to import policies such as those recently announced by the U.S. Department of Commerce on biodiesel imports from Argentina and Indonesia.