News & Analysis - Oil
New York (Platts)--17 Dec 2014 456 pm EST/2156 GMT
Volatile oil futures held onto early gains Wednesday and settled in
positive territory after a wave of short covering following the release of US
weekly inventory data pushed prices higher.
Houston (Platts)--17 Dec 2014 1211 pm EST/1711 GMT
US Atlantic Coast imports spiked in the reporting week ended December 12,
according to data released Wednesday by the Energy Information Administration,
as increasing winter demand in the Northeast was met with dwindling pipeline
supply, opening the arbitrage from Europe.
For the first time in a generation, US oil market fundamentals have shifted enough for a serious reconsideration of export policy, and ignited a battle between producers and refiners.
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SPR under reviewThe Strategic Petroleum Reserve is also under review, though the stockpile is not controversial, like the oil export issue.
December 16, 2014
Plummeting oil prices coupled with a significant increase in terrorism, and regime instability pose a direct threat to several sub-Saharan African countries the next year.
December 14, 2014
The kind of crazy up-and-down movements of the oil markets in recent weeks and months is not a ripe opportunity for a major trading company like Vitol. In fact, its CEO and chairman Ian Taylor says that whipsaw activity is a nightmare for his company.
December 13, 2014
During most times, the oil industry may operate in a dog-eat-dog world. Now it’s also in an ant-and-grasshopper world. You know the story of those two insects–they’re paired together in Aesop’s Fable of the same name.
Oman's crude oil differentials to front-month Dubai swaps have widened since a fire at the Mina Al Fahal refinery December 4 fueled concerns of additional prompt oil barrels spilling into the spot market. Platts on December 5 assessed cash Oman at $67.15/b, a discount of 44 cents/b to February Dubai swaps, widening from a discount of 24 cents/b on Thursday. However traders December 8 said they were yet to see any spot barrels offered by Oman's Ministry of Oil and Gas following the fire at the 106,000 b/drefinery.
It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.
Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one's life is untouched by this immense resource.