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21 ноября, 08:01

Middle Eastern barrels headed to LOOP as Dubai premium drops: In the LOOP

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Four tankers are on their way to the Louisiana Offshore Oil Port, three likely carrying Iraqi crude and a fourth partly laden with unknown barrels, according to cFlow, Platts’ trade-flow software. The VLCC Sophia sailed from Iraq through the Suez Canal and the Strait of Gibraltar and is now set to arrive at LOOP on […] The post Middle Eastern barrels headed to LOOP as Dubai premium drops: In the LOOP appeared first on The Barrel Blog.

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20 ноября, 07:22

Is the science on climate change ‘settled?’: Fuel for Thought

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First, one should be discomfited by that lightning-rod shorthand for certitude; science is never “settled.” Saying so is the antithesis of science. The scientific method by definition suggests a permanent state of open-mindedness, of questioning the common wisdom, of rigorously testing and retesting the hypothesis. Where does one draw the line between acceptance of scientific […] The post Is the science on climate change ‘settled?’: Fuel for Thought appeared first on The Barrel Blog.

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17 ноября, 13:30

Playing for time at Groningen — the ball returned to Dutch government’s court

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Natural gas in the Netherlands remains a divisive issue, with the public perception of the once much-favored fuel turning increasingly negative because of the damage caused to buildings by producing gas at the super-giant onshore Groningen field. It was the job of the country’s top administrative court this week to rule on whether the previous […] The post Playing for time at Groningen — the ball returned to Dutch government’s court appeared first on The Barrel Blog.

17 ноября, 10:41

Is there a glimmer of light for industrial commodities at last?

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The wait was long and painful. The recovery has been slow and not free of turbulence. After sailing through choppy waters for years, prices of industrial commodities — such as oil, steel, base metals — are finally seeing levels not seen in several years, bringing a whiff of relief to markets feeling the pinch from […] The post Is there a glimmer of light for industrial commodities at last? appeared first on The Barrel Blog.

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17 ноября, 08:01

US IRRs strengthen as WTI reaches year-to-date highs

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November is upon us and temperatures across the US are beginning to fall as oil prices rise to year-to-date highs. Looking at the average 12-month forward curve for WTI, oil prices rose to $54.19/b in early November, an increase of $2.62/b month over month. The price increase has allowed internal rates of return (IRR) to […] The post US IRRs strengthen as WTI reaches year-to-date highs appeared first on The Barrel Blog.

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14 ноября, 08:01

Iraqi crude exports fall on wide Dubai premium, fall turnarounds: In the LOOP

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Imports of Iraqi crude oil to the Louisiana Offshore Oil Port declined from September to October as US Gulf Coast refiners experienced fall turnaround season and as the Dubai/WTI spread remained historically wide. LOOP imported about 594,000 fewer barrels of Iraqi Basrah Light crude in October than it did in September, according to data from […] The post Iraqi crude exports fall on wide Dubai premium, fall turnarounds: In the LOOP appeared first on The Barrel Blog.

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14 ноября, 03:01

The iron ore contango: Why now?

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The iron ore forward curve has made history in November by recording the longest period of contango* in its brief existence. On November 1, Platts assessed The Steel Index 62% Fe CFR China swaps in contango from the December strip out to Q2 2018, which has been sustained until now. It should be stated that […] The post The iron ore contango: Why now? appeared first on The Barrel Blog.

13 ноября, 07:01

Cartel power: China and the Russian-Saudi axis – Fuel for Thought

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Ever closer relations between Saudi Arabia and Russia, the world’s two largest oil exporters, look like a nightmare for China, the world’s largest oil importer. However, as the originator of demand in a world where peak oil consumption hovers on the horizon, it is Beijing that ultimately holds the whip hand. In the short term, […] The post Cartel power: China and the Russian-Saudi axis – Fuel for Thought appeared first on The Barrel Blog.

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10 ноября, 08:01

New pipeline to enable Uganda to export oil by 2020

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The presidents of Tanzania and Uganda are due November 11 to lay the foundation stone for the construction of East Africa’s first significant oil export pipeline. It has been a long time coming. Joseph Magufuli of Tanzania and his Ugandan counterpart Yoweri Museveni signed a project agreement in May that should see Uganda finally begin […] The post New pipeline to enable Uganda to export oil by 2020 appeared first on The Barrel Blog.

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09 ноября, 07:01

Will Trump punt in US Section 232 steel investigation?

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Football season is in full swing in America, and it looks like political football season is about to kick off for American steelmakers. The football getting kicked around and passed back and forth, is President Donald Trump’s virtual promise to protect domestic steelmakers by sacking unfairly traded imports. So far that “promise” has caused some […] The post Will Trump punt in US Section 232 steel investigation? appeared first on The Barrel Blog.

08 ноября, 08:01

With Trump’s commodity gestation period done, most prices still soft: Of Presidents and Prices

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It has been a little more than nine months since President Donald Trump took office, and although most hard commodity prices are lower than the day he was sworn in, there are signs of life. For the first time since July 2, 2015, the price of Dated Brent — driven by strong demand — topped […] The post With Trump’s commodity gestation period done, most prices still soft: Of Presidents and Prices appeared first on The Barrel Blog.

08 ноября, 03:30

Saudi and Iran are divided by the sword, not OPEC

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The Middle East’s oil superpowers are butting heads. Saudi Arabia has escalated a bitter feud by accusing Iran of an “act of war” following a rebel missile attack on Riyadh. The stakes are high for both protagonists but their belligerence has its limitations. Neither side can afford their OPEC pact to be broken by conflict. […] The post Saudi and Iran are divided by the sword, not OPEC appeared first on The Barrel Blog.