HomeQuestionSitemap
Username
Password
Nederlands English
Home

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
Email dit artikel Email dit artikelTwitter TwitterFacebook FacebookLinkedIn LinkedIn
Tags: Brent crude, Contract prices, Financial market, Market Info, Oil price

The entire trading week, speculation that OPEC would agree on a production cut at its Nov. 27 meeting this week offered price support. On Friday, China central bank’s announcement to cut its benchmark rates gave additional support to oil prices.

Japan, the world’s fourth largest crude importer, saw its economy contract unexpectedly by an annualized 1.6% in the third quarter. Weak domestic consumption and exports had pushed the Japanese economy back into recession again. Furthermore, HSBC’s PMI data showed that the Chinese industry in November did not expand nor contract (PMI = 50). The same PMI reading applied for Germany while the Eurozone grew at a slower pace than prior month, according to research institute Markit.

Market players were closely watching news around the upcoming OPEC meeting. OPEC Ministers will meet in Vienna to decide how to respond to a collapse in oil prices that have fallen more than 30% in five months. Industry sources claim that the changes of an OPEC agreement to cut production have increased in recent days as there have been various meetings between OPEC members separately and with non-OPEC member Russia.

China's central bank cut its main interest rates for the first time in more than two years on Friday to reduce borrowing costs and support an economy on track for its slowest annual growth in 24 years. The People's Bank of China said it was cutting one-year benchmark lending rates by 40 basis points to 5.6%. One-year benchmark deposit rates would be lowered by 25 basis points. Simultaneously the PBOC said it was further freeing up China's interest rates by raising the ceiling for deposit rates to 1.2 times of the benchmark level, from 1.1 times previously.

Article has 0 comments. Click To Read/Write Comments

Vraag voor middeldestillaten blijkt te zijn teruggelopen

De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich op 3e 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 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 beďnvloeden 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

Oil prices showed a minor downward reaction last week.

Crude – and product prices showed a minor downward reaction last week. Brent crude’s weekly low lay at $81.63/bbl and that was its lowest since the end of October 2010. WTI crude fell below $76.00/bbl, its lowest level since early October 2011.
Posted by Patrick Kulsen on 10 november 2014 20:15:17
Tags: Gasoil

Oil prices were relatively stable last week

Crude – and product prices were relatively stable last week. A ‘bearish’ market outlook from the American investment bank Goldman Sachs early in the week weighed on prices.
Posted by Patrick Kulsen on 04 november 2014 20:05:32
Tags: Brent crude, Contract prices, Financial market, Market Info, Oil Trading

Vertragingen in beladingen, speciaal binnen de ARA range

De vraag op de (Rijn) transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich primair op 1e decade november belading. Vertragingen in beladingen, in het bijzonder binnen de ARA range, zorgden nog steeds voor vertraging in de afwikkeling van lopende - en opvolgende transportzaken.
Posted by Patrick Kulsen on 04 november 2014 19:58:38
Tags: Barge Market, Naphtha vessels, Rhine freight, Transport capacity

Vrachttarieven voor bestemming Basel/Birsfelden zijn iets gestegen

De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op restant eind oktober resp. begin november belading.
Posted by Patrick Kulsen on 30 oktober 2014 19:59:27
Tags: Naphtha vessels, Rhine freight, Transport capacity

Hogere prijzen houden aan

De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreerde zich op belading eind oktober en begin november.
Posted by Patrick Kulsen on 28 oktober 2014 13:54:52
Tags: Crude, Financial market, Gasoil, Market Info, Oil price

Review week 42: Oil prices keep going sideways on low level

Crude – and product prices stabilized around lowest levels in four years last week.
Posted by Patrick Kulsen on 27 oktober 2014 16:43:11
Tags: Crude, Financial market, Market Info, OPEC, Research & Analysis

ARA gasoline stocks hit three-year low

LONDON, Oct 16 (Reuters) - Gasoline stocks at Europe's Amsterdam-Rotterdam-Antwerp hub fell to a three-year low this week of 490,000 tonnes, according to data from Dutch-based oil consultancy PJK International.
Posted by Patrick Kulsen on 23 oktober 2014 10:42:40
Tags: ARA Stocks, Crude, Diesel price, European refineries, Financial market, Fuel stocks, Gasoil, Gasoline stocks, Market Info, Oil price, Research & Analysis

Vertragingen en waterstand geven tegengesteld beeld

De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich op intussen op belading eind oktober.
Posted by Patrick Kulsen on 23 oktober 2014 09:39:39
Tags: Contract prices, Financial market, Market Info, OPEC, Rhine freight

Review week 41: Oil prices recover modestly

Crude – and product prices extended weekly losses last week but at the end of the week prices recovered modestly.
Posted by Patrick Kulsen on 20 oktober 2014 10:15:50
Tags: Crude, Financial market, Gasoil, Market Info, Oil price, OPEC

ARA gasoil, gasoline stocks decline

LONDON, Oct 9 (Reuters) - Gasoil stocks at Europe's Amsterdam-Rotterdam-Antwerp hub dropped 2.75 percent in the week to Thursday to 2.788 million tonnes, according to data from Dutch-based oil consultancy PJK International.
Posted by Patrick Kulsen on 16 oktober 2014 14:06:04
Tags: ARA Stocks, Financial market, Fuel stocks, Gasoline stocks, Market Info, Oil price, Research & Analysis

Waterstanden van belang voor toekomstig tarief

De vraag op de (Rijn)transportmarkt richting Duitsland, Frankrijk en Zwitserland concentreert zich op belading in de tweede helft van oktober
Posted by Patrick Kulsen on 16 oktober 2014 11:48:23
Tags: Brent crude, Contract prices, Crude, Financial market, Fuel stocks, Market Info, Oil price, Oil Trading, OPEC, Research & Analysis, Rhine freight

ARA tank storage markets: more pain to come?

Negative demand factors and overinvestment in ARA tank storage markets have put storage rates under pressure in more or less all oil product segments. The baseline outlook is that demand will further weaken, keep storage – and occupancy rates and as a result profitability of the ARA tank storage market under pressure.
Posted by Patrick Kulsen on 16 oktober 2014 07:34:48
Tags: ARA Stocks, Crude, Financial market, Fuel stocks, Gasoline stocks, Market Info, Oil price, Research & Analysis

Review week 40: Oil prices keep on falling

Crude – and product prices extended weekly losses last week. An oversupplied market and concerns about global economic growth pressured sentiment on both oil – and stock markets.
Posted by Patrick Kulsen on 13 oktober 2014 09:54:16
Tags: Crude, European refineries, Financial market, Fuel stocks, Market Info, Oil price, OPEC

 
How can Tank Terminal Companies make any profits?

PJK International has made a detailed study of the Tank Terminal Market. It focuses on the central issue of profitability for storage companies in the ARA-region

This FREE eBook gives an overview of the study. The integral study will become available at the end of February 2014.
 


 
PJK's Oil Market Blog

With this blog we would like to give our stakeholders a platform to share knowledge, opinions and insights. That is the reason we would like to invite you to participate in these conversations. You can also follow us on Twitter.

 


 
 
PJK International website

PJK International B.V. is a company active in the international petroleum industry. It supports commercial business processes at trading and transport companies in this sector by delivering tailor made market research and market analysis.

Read more on the PJK International website


Ga naar de Freight Control website

Freight Control website

The Freight Control application enables barge owners and shipping companies to improve their financial performance. It gives insight in the latest market rates and prices, profit margins and operational.

 


Join our community

Would you like to be informed when a new article is published? Join our community by filling in your email address below.

E-Mail



Blog Themes