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Current Contango, Predictions for 2015 | Tank Storage Magazine

The recent slide in oil prices has turned the petroleum industry upside down.
Posted by Patrick Kulsen on 27 maart 2015 10:34:14
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Tags: Backwardation, Contract prices, European refineries, Hedging, Research & Analysis

Global oil markets became oversupplied in the course of 2014 due to the steady increase of US light tight oil (LTO) output and the economic slowdown in many economic regions worldwide. 

With OPEC choosing to defend market share instead of balancing markets this situation persisted. 

The result has been a fall in oil prices of 61% between July 2014 and mid-January 2015. 

All of the sudden upstream exploration and production business has become far less attractive whereas downstream refining margins have recovered. 

Crude oil and oil product tank storage companies are cheering again leaving a difficult period when markets were backwardated behind. 

Because of oversupply generally speaking the oil price forward curve has switched from backwardation into contango, which makes access to storage infrastructure profitable for physical oil traders.


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Regulations: All Change | Tank Storage Magazine

Fuel oil demand is set to drop this year, but what does this mean to terminal operators? In January 2015 new legislation will come into effect which will restrict fuel oil consumption in Emission Control Areas (ECA) for marine vessels.
Posted by Patrick Kulsen on 20 maart 2015 10:39:35
Tags: Fuel stocks, Gasoline stocks, Research & Analysis

Review week 15/05 Oil prices' downward movement slows

Last week, both crude and product prices moved in a more or less sideways range. Financial markets (Stocks, commodities, currencies) were all focused on the outcome of ECB’s policy meeting in Frankfurt.
Posted by Patrick Kulsen on 26 Januari 2015 19:35:39
Tags: Brent crude, Contract prices, Oil price

Europe’s Independent Fuel Tanks Seen Near Full Amid Glut Signals

(Bloomberg) -- Fuel-storage tanks operated by independent companies in northwest Europe’s oil-trading hub are near full, adding to signs of a surplus, according to a firm monitoring the inventories and the International Energy Agency.
Posted by Patrick Kulsen on 22 Januari 2015 19:14:41
Tags: ARA Stocks, Backwardation, Fuel stocks, Gasoline stocks, Research & Analysis

De zijwaartse range van Rijn vrachttarieven blijft gehandhaafd

De (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op 2e helft januari belading. De vraag naar heatingoil, diesel en benzine blijft, afhankelijk van de regio, redelijk op peil. Dat ondersteunt de markt.
Posted by Patrick Kulsen on 20 Januari 2015 15:00:25
Tags: Barge Market, Cargo, End-Users, Naphtha vessels, Rhine freight

Review week 15/04 Crude oil prices ended a 7-week losing streak

Last week, oil prices showed a volatile reaction. Brent crude opened the week around $50/bbl but its weekly low lay at $45.19/bbl. Eventually, Brent crude March settled at $50.17/bbl, ending a seventh straight week losing streak.
Posted by Patrick Kulsen on 19 Januari 2015 19:46:23
Tags: Brent crude, Contract prices, Financial market, Oil price

Vrachttarieven voor Rijn blijven in zijwaartse range hangen

De (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op 2e decade januari belading. In afwezigheid van 'Koning Winter' blijft de vraag naar heating-oil, corebusiness voor de Rijn tankvaart, minimaal. Andere producten kunnen dat gat in de transportvraag gedeeltelijk opvullen.
Posted by Patrick Kulsen on 13 Januari 2015 15:07:16
Tags: Barge Market, Naphtha vessels, Rhine freight, Transport capacity

Review week 15/03 Oil prices lost for a seventh straight week

Both crude – and product prices lost for a seventh straight week. The sharpest price declines were made early in the week and on Friday. Wednesday and Thursday oil markets were relatively stable. Gasoil prices shed around $45pmton on a weekly base while Brent crude lost around $6/bbl on a weekly base.
Posted by Patrick Kulsen on 12 Januari 2015 17:18:46
Tags: Brent crude, Contract prices, Diesel price, Gasoil, Oil price

Oil glut spills into diesel, gasoline as storage demand swells

• ARA product stocks at three-and-a-half year highs • Oil product markets in contango across the board • Graphic of ARA product stocks: http://link.reuters.com/tys73w
Posted by Patrick Kulsen on 12 Januari 2015 12:29:43
Tags: ARA Stocks, Fuel stocks, Gasoline stocks, Oil Trading, Research & Analysis

Vrachttarieven voor Rijn zijn gedaald

De (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op 1e decade resp. 1e helft januari belading. Het overgrote deel van de marktdeelnemers kwam pas begin deze week terug van de vakantieperiode tussen Kerst en Nieuwjaar.
Posted by Patrick Kulsen on 08 Januari 2015 14:09:38
Tags: Barge Market, Cargo, Naphtha vessels, Rhine freight, Transport capacity

Review week 51 Oil prices fell but losses remained limited

Both crude – and product prices lost again on a weekly basis but losses remained limited. Early in the week, important Gulf OPEC producers said that prices were formed on markets and the group would not increase production.
Posted by Patrick Kulsen on 22 december 2014 16:11:25
Tags: Brent crude, Contract prices, Diesel price, Oil price

Review week 50 Oil prices slumped another week

Both crude – and product prices extended losses on the outlook of a surplus in 2015 in an already ample supplied market.
Posted by Patrick Kulsen on 15 december 2014 20:27:19
Tags: Brent crude, Contract prices, Diesel price, Financial market

Vrachttarieven voor Boven-Rijn zijn licht gestegen

De vraag op de (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich vooruitlopend op de Kerstdagen en Oud en Nieuw inmiddels op het 2e decade december belading.
Posted by Patrick Kulsen on 09 december 2014 16:00:33
Tags: Barge Market, Naphtha vessels, Rhine freight, Transport capacity

Review week 49 Oil prices extended losses

Both crude – and product prices extended losses last week. Research showing the new low-price environment possibly affected US shale production with a decline in permits issued for new shale wells in October, supported oil prices early in the week.
Posted by Patrick Kulsen on 09 december 2014 10:18:51
Tags: Brent crude, Contract prices, Gasoil, Oil price

Review week 47 Oil prices 'all over the barrel' plunged

Oil markets were under the spell of the November 27 OPEC-meeting last week. Early in the week, market players were convinced that OPEC would cut production in order to stabilize prices. This resulted initially in a more sideways movement of prices.
Posted by Patrick Kulsen on 02 december 2014 11:04:49
Tags: Brent crude, Contract prices, Diesel price, Gasoil, Oil price

Review week 46 Oil prices pared losses last week

Oil prices were relatively volatile but eventually settled close to last week’s open prices. Early in the week, oil prices dropped on macro-data from key consuming countries and regions such Japan, China and Eurozone indicated that indicated weaker oil demand.
Posted by Patrick Kulsen on 24 november 2014 20:14:38
Tags: Brent crude, Contract prices, Financial market, Market Info, Oil price

Vraag voor middeldestillaten blijkt te zijn teruggelopen

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Posted by Patrick Kulsen on 18 november 2014 16:37:50
Tags: Barge Market, Cargo, Naphtha vessels, Rhine freight

Oil prices took a significant step back last week

Oil prices took a significant step back last week and fell towards four-year lows. Brent crude dropped below $78/bbl while WTI crude edged below $74/bbl. Early in the week, a strong US dollar weighed on oil markets.
Posted by Patrick Kulsen on 18 november 2014 16:33:29
Tags: Brent crude, Contract prices, Gasoil, Oil price

Vertragingen beïnvloeden nog steeds transportzaken

De vraag op de (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op 2e decade november belading. Vertragingen in beladingen, speciaal binnen de ARA range, zorgen nog steeds voor vertraging in de afwikkeling van lopende en opvolgende transportzaken.
Posted by Patrick Kulsen on 12 november 2014 20:12:29
Tags: Barge Market, End-Users, Naphtha vessels, Rhine freight

 
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