US gasoline crack spreads weaken, while Europe, Asia rise on supply tightness
February 3, 2010 - Gasoline crack spreads in the US have diverged from European and Asian cracks in recent weeks, as high inventories and low demand have put downward pressure on the US. The rest of the world's gasoline markets are looking more bullish, with crack spreads in both Europe and Asia on the rise.
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Nigeria oil output rises to 2.2 million b/d
February 1, 2010 - Nigeria's oil production has risen to about 2.2 million b/d after an amnesty agreement with militants allowed the country to pump more oil, but inadequate funding for joint-venture projects remains an issue, oil minister Rilwanu Lukman was reported as saying January 29.
Diesel faces the morning after the night before
January 08, 2010 - For the European ultra low sulfur diesel market, 2009 was the morning after the night before. The stellar performance of 2008 confirmed the latent strength of the middle distillate, with Europe's burgeoning thirst already attracting the attention of refiners globally.
Platts petrochemical index breaks 2009 high, but signs of lethargy seen
January 27, 2010 - The Platts Global Petrochemical Index (PGPI) continued its march upwards, closing the week ended January 22 at $1,198.76/mt, surpassing the 2009 high of $1,100.04/mt recorded on December 31, 2009, although the market was showing signs of overheating, Platts data shows.
European polystyrene converters reluctantly accept steep Jan price
January 20, 2010 - Accepting that they had no other choice, European polystyrene converters have had to agree the increases since they had depleted their stocks over December, in anticipation of a return to the market to replenish inventories at a minor feedstock increase.
More than 'China factor' behind coal spike
February 8, 2010 - Cold weather and the approach of the Lunar New Year saw international seaborne coal prices spike in early January 2010. The 'China factor' is a major contributor, but not the only cause. Exports from key producers are constrained, demand widespread, while India, China and Russia are suffering internal transport problems.