Sunday, April 21, 2024

Argus Media News

U.S. Oil Makes it to Ukraine, a blow to Moscow

© RealPhotoItaly/Adobe Stock

U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil.Ukraine this month received its first ever barrels from the United States, according to Refinitiv Eikon flows data, as the tanker Wisdom Venture unloaded 80…

US Buyers Turn to Offshore Crude

Thunder Horse (Photo: BP)

U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce notable amounts of crude oil that refiners have settled on as the immediate replacement for the heavy Venezuelan crude that U.S. refiners relied on for years.

Argus Adds New Marine Fuel Price Assessments

© Nikita Starichenko / Adobe Stock

Oil price reporting agency Argus has launched five new price assessments for low-sulphur marine fuels, ahead of new global rules capping the amount of sulphur in marine fuels, also known as bunkers.International Maritime Organization (IMO) regulations will cut the limit for sulphur in bunker fuels globally from 3.5 percent to 0.5 percent from the start of 2020."Argus…

China's Falling U.S. Crude Imports More to do with Money than Politics

One of the side effects of President Donald Trump's escalating trade dispute with China is that U.S. exports of crude oil to the world's biggest importer are now viewed through the prism of politics.However, this ignores that buyers and sellers of crude are generally more motivated by profit margins and getting the right grades of oil to maximise the productivity of their plants.While it's true they can't disregard politics…

Coal Soars on Rising Demand from Asia

File Image (CREDIT: AdobeStock / © Leonid Eremeychuk)

Coal prices in Asia are being driven to multi-year highs by a rare combination of simultaneous demand growth in the region's top four importers.Depending on the price used, thermal coal is either close to a two-year high or near the strongest in six years as China, India, Japan and South Korea imported more of the polluting fuel in the first five months of this year compared to the same period in 2017.The Australian thermal coal benchmark…

To Frack or Not to Frack? Australia's NatGas Dilemma

The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The territory's government said on April 17 that it has lifted a near two-year moratorium on hydraulic fracturing, known as fracking, accepting the recommendations of its own commission of inquiry into the practice.

Two Risks Threaten Commodities: Russell

It's not quite time to run up the red flags, but some recent developments in commodity markets suggest it may be time to start looking for them in the locker. The are two main factors that appear to be emerging that may threaten an end to the current quite rosy picture surrounding demand for commodities such as iron ore, steel and the metals most exposed to the battery boom, cobalt, lithium and nickel.

Platts to Publish U.S. Crude Prices in Asia

Platts, Argus vie for U.S.-Asia crude benchmark. Oil pricing agency S&P Global Platts said on Thursday it planned to publish U.S. crude prices at the close of the Asian trading day starting in December as U.S. exports to the region have risen. The Platts announcement follows the launch last year by rival price agency Argus Media of U.S. Gulf Coast crude prices for the Asia-Pacific.

Iraq's OPEC Revolt Shows Saudi-Iran Oil Deal Fragility

OPEC quarrelling even before ink on deal dries; huge obstacles ahead for binding OPEC deal in November. For years, debates in the OPEC conference room were dominated by clashes between top producer Saudi Arabia and arch-rival Iran. But as the two managed to find a rare compromise on Wednesday - with Riyadh softening its stance towards Tehran - a third OPEC superpower emerged.

Asia oil refiners hungrily eye 300-item global oil smorgasbord

Asia's oil refiners can choose from a sprawling buffet of over 300 crudes from every continent except Antarctica as a combination of cheap freight and rising supplies leaves buyers overwhelmed by the variety of oil grades on offer. The lifting of the 40-year-old U.S. crude export ban in December 2015 means North American supplies are now competing for Asian buyers along with the barrels sent from the Middle East, Russia and elsewhere.

Saudis Won't Shock Oil Market as OPEC Argues Policy

Iran wants individual country quotas. Saudi Arabia promised on Thursday not to flood the oil market with extra barrels as OPEC headed into a heated debate about production policy, with Iran insisting on the right to raise output steeply. Tensions between the Sunni-led kingdom and the Shi'ite Islamic Republic have been the highlights of several previous OPEC meetings…

OPEC Switches to Argus from Platts

The Organization of the Petroleum Exporting Countries (OPEC) has switched to Argus Media as its energy price data provider this year, dropping global pricing service Platts. The producer group, which accounts for 40 percent of the world's oil output, will use Argus's prices for evaluation, analysis and reporting from Jan. 1, Argus said in a statement released late on Wednesday.

Argus Launches Marine Fuels Service

Global energy and commodity price reporting agency Argus has launched a daily marine fuels pricing and analysis service, Argus Marine Fuels. It provides market data and intelligent analysis of the increasingly complex marine fuels market. Trade in marine fuels is changing quickly. Oil prices are high and volatile. New environmental regulations are forcing ships to burn more expensive low-sulfur fuels.

Bunker Pricing Service Launched by Argus

Argus Marine Fuels has launched a daily marine fuels pricing and analysis service. The new service provides unique market data and intelligent analysis of the increasingly complex marine fuels market. Trade in marine fuels is changing quickly. Oil prices are high and volatile. New environmental regulations are forcing ships to burn more expensive low-sulfur fuels. Trading companies are entering the market as others abandon it.