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Will Iran's crude find homes in a much changed oil landscape?

July 29, 2015 (10:20)

As Iran looks to a post-sanctions world in which it is once again free to sell its crude, Platts editors ask whether, in the face of up to 3 million b/d of oil oversupply, they'll be a place for Iranian product.

News Headlines

IGC revises 2015-16 global wheat output to 710 mil mt, down 0.14%
London (Platts)--30 Jul 2015 1154 am EDT/1554 GMT
Global wheat production forecast in the 2015-16 marketing year has been revised down 0.14% from last month's forecast to 710 million mt, the International Grains Council said Thursday.
S Africa's Northam Platinum reaches three-year wage agreement with union
London (Platts)--30 Jul 2015 947 am EDT/1347 GMT
South Africa's Northam Platinum, one of the world's top 10 platinum miners, said Thursday that a wage agreement at its Zondereinde mine has been been reached with the National Union of Mineworkers, with entry level underground employees getting a 13% rise in the first year of a three-year package.
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The Barrel Blog

July 30, 2015
Mexico's debut bidding event in Round One of its energy reform is now history, and resulted in what was widely agreed was a poor showing.
July 29, 2015
Colin Richardson revels in what has been, and continues to be, a real pleasure being part of the market - or at least on its periphery.
July 28, 2015
Russian giant Rosneft's recent deals in Asia suggest it is potentially shifting the balance of its crude oil sales in the region, Daniel Colover observes.
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Data Feature: Global Polymers Pricing Analysis

July 30, 2015
LDPE pricing in the US seemed influenced by falling global prices and softening demand. In Asia, LDPE prices fell amid weak demand as buyers remained on the sidelines waiting for clearer market direction to emerge. In Europe, the main talking point in the LDPE market was the settlement of the August ethylene contract price at a decrease.
Also in this feature
US export prices fall, tracking global prices; European prices fall on bearish feedstock
US linear-low density polyethylene export prices fell as market participants talked the PE market lower, following a weekend that saw global markets decline.
Low demand hampers US market, European prices remain flat
US high density polyethylene export prices fell week on week, as sources said availability was still a factor and low demand was hampering the market.
China traders explore export opportunities to Southeast Asia; Brazil prices down on falling crude
Traders in China were heard offloading PP raffia cargoes at more than $100/mt below their purchase price.

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Price Focus

The physical 3.5 FOB Rotterdam barge market trended higher at the prompt February 27, with RMG material leaving Europe for arbitrage destinations, traders said. "The market is getting tighter for RMG...we expect stronger pricing for barges in March," one said. At the same time, supply was sufficient for cracked fuel oil, with a lot of straight run and M-100 being blended into the finished grade pool, albeit at relatively high costs, sources said.


Interview: UK offshore wind – industry calls for volume and certainty
July 30, 2015 - Platts interviews Dr Gordon Edge, RenewableUK, on the challenge of maintaining UK offshore wind cost reductions at a time of uncertain funding and auction schedules.
Chinese DOP imports seen rising despite weakness in plastics, PVC
July 29, 2015 - Platts editors discuss factors affecting the oxo-alcohol markets in Asia, particularly the surge in demand for dioctyl phthalate.
Not so careless whispers: global steel prices whammed by summer downturn
July 28, 2015 - With Chinese hot rolled coil (HRC) prices at the lowest they’ve been since we started assessing them in 2006, and US scrap prices down $20 month on month, our editors ponder just how low steel prices can go.
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Americas Refined Oil ProductsPublished January 2015

The Americas Refined Oil Products Guide contains the primary specifications and methodologies for Platts American Products assessments.

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