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Column: Distillate fuel oil market set to tighten in 2018

Column: Distillate fuel oil market set to tighten in 2018

Most distillate fuel oil used for high-powered engines By John Kemp LONDON, Nov 17 – US refineries are struggling to meet booming demand for distillate fuel oil at home and in export markets which will leave the distillate market very tight in 2018. Even if the northern hemisphere winter is only averagely cold, the distillate […]

By November 17, 2017 0 Comments Read More →
TransCanada’s Keystone Pipeline leaks 5,000 barrels of oil just days before Nebraska decides its fate

TransCanada’s Keystone Pipeline leaks 5,000 barrels of oil just days before Nebraska decides its fate

TransCanada operates network of pipelines extending over 91,500 kilometres TransCanada crews safely shut down its Keystone pipeline at approximately 6 a.m. CST (5 a.m. MST) after a drop in pressure was detected in its operating system resulting from an oil leak that is under investigation, according to a press release. This comes just days before […]

By November 16, 2017 0 Comments Read More →
Transportation constraints, export costs widen Brent-WTI crude oil price spread

Transportation constraints, export costs widen Brent-WTI crude oil price spread

 China is second-largest destination for U.S. crude oil exports In its Nov. Short-Term Energy Outlook (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the first quarter of 2018 before narrowing to $4/b […]

By November 16, 2017 0 Comments Read More →
Growth in global energy-related CO2 emissions expected to slow

Growth in global energy-related CO2 emissions expected to slow

 Technology improvements mitigate population growth-related increases in energy demand EIA projects that growth in global carbon dioxide (CO2) emissions from energy-related sources will slow despite increasing energy consumption, according to the U.S. Energy Information Administration. EIA’s International Energy Outlook 2017 (Reference case) projects that energy-related CO2 emissions will grow 0.6 per cent per year from 2015 to […]

By November 16, 2017 1 Comments Read More →
Column: Oil prices hit by profit-taking after funds build record bullish position

Column: Oil prices hit by profit-taking after funds build record bullish position

Oil prices slump on Tuesday By John Kemp LONDON, Nov 14 (Reuters) – Crude oil prices and calendar spreads have started to soften in recent trading sessions, in what is likely to be profit-taking after hedge funds amassed a record bullish position in the petroleum complex. Hedge funds and other money managers had accumulated a record net […]

By November 14, 2017 0 Comments Read More →
Global vehicle sales drop in coming years, oil demand rises: IHS Markit

Global vehicle sales drop in coming years, oil demand rises: IHS Markit

Oil demand for non-transportation uses expected to rise A study by IHS Markit released on Tuesday says even though global vehicle sales are forecast to decline over the next twenty years, oil demand will rise to 115 million barrels per day (b/d) by 2040. IHS Markit says vehicle demand worldwide will decline as consumers use […]

By November 14, 2017 0 Comments Read More →
Global energy system being transformed by renewables, electrification, says IEA annual report

Global energy system being transformed by renewables, electrification, says IEA annual report

U.S.projected to become world’s largest LNG exporter and net oil exporter by end of 2020’s The resurgence in oil and gas production from the United States, deep declines in the cost of renewables, and growing electrification are changing the face of the global energy system and upending traditional ways of meeting energy demand, according to […]

By November 14, 2017 0 Comments Read More →
Russia exports most of its crude oil production, mainly to Europe

Russia exports most of its crude oil production, mainly to Europe

 Russia also exported 1.3 million b/d of fuel oil, 990,000 b/d of diesel, and 120,000 b/d of gasoline in 2016 Russia exported more than 5.2 million b/d of crude oil and condensate and more than 2.4 million b/d of petroleum products in 2016, mostly to countries in Europe, according to the U.S. Energy Information Administration. […]

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Column: US natural gas prices rise as traders reassess gloomy outlook

Column: US natural gas prices rise as traders reassess gloomy outlook

US natural gas prices up by almost 10 per cent since beginning of November By John Kemp LONDON (Reuters) – US natural gas prices have bounced by almost 10 per cent since the start of the month as traders reassess their earlier bearish view this winter amid signs sentiment had become far too gloomy. Futures […]

By November 10, 2017 0 Comments Read More →
Column: US gasoline and diesel markets look tight

Column: US gasoline and diesel markets look tight

US gasoline and diesel stocks fall despite record refinery runs By John Kemp LONDON, Nov 9 – US stocks of gasoline and diesel continue to fall, despite record refinery runs, in a sign of strong demand at home and in export markets. U.S. refineries processed a seasonal record 16.3 million barrels per day (b/d) of […]

By November 9, 2017 0 Comments Read More →