In Part 1 of this blog, I discussed the aftermath of falling crude oil prices on the North American crude derivatives (RBOB gasoline and heating oil). Apart from the obvious conclusion that the decline of WTI and Brent was mirrored by the North American distillate benchmarks, I also showed that Brent crude oil plays a […]
The recent string of rebel takeovers in Iraq has affected not only the safety of its people but global energy markets as well. The last week of June 2014 marked a significant date for Brent-WTI spread pricing, as the Islamic State in Iraq and the Levant (ISIL) rebels took over Iraq’s largest oil refinery, Baiji. […]
The oil pricing landscape is facing critical changes as regional activities surrounding established benchmarks are impacting markets on a global scale. Asia’s lower-than-anticipated appetite for crude oil, coupled with the misconception that all production will be dominated by the Middle East, suggests a potential re-emergence of West Texas Intermediate (WTI) as the international price reference.1 […]
On-demand access to accurate pricing data is pivotal for market players in the oil and gas industry to make better and timelier strategic decisions in order to drive their core business activities. Now more than ever, with the production of oil and gas reaching unprecedented new highs, organizations in this industry cannot afford to ignore […]
The fiscal cliff in the United States was the hot topic surrounding domestic economic policy throughout 2012, as my colleague Ian Mathieson discussed in his year in review last December. It is safe to say that the same was true for this year as well. The global markets were once again on their toes observing […]
In the last 20 years, demand for oil and natural gas in Turkey has increased exponentially, and the country has developed into a significant consumer within the energy markets; however, the demand conditions coupled with insufficient natural resources have spiked Turkey’s energy import bill to alarming levels. The International Energy Agency (IEA) anticipates Turkey’s energy […]
Last week we held the third webinar from our “Data in Action” webinar series with Platts, a leading global provider of market news and benchmark price assessments for those in energy and commodity markets. Platts has been independently and impartially assessing oil markets since 1909, and with the recent crude oil developments in the U.S. […]
I had the distinct honor of attending the Energy Risk Asia conference held in Singapore on September 26. The conference brought together risk managers, commodity traders, procurement officers, quantitative analysts, and exchange personnel from the energy industry, and, of course, data and analytics solution providers together for one day of intense presentations and industry roundtables. […]
In the BusinessWeek article, “The Giant Sucking Sound: Why is Oil leaving Cushing’s Tanks So Fast?” , Matthew Philips takes a look at why a “historic glut of crude that built up in Cushing over the past three years” has dropped 40% (to 34 million barrels from 50 million barrels) at the close of August […]
NYMEX crude financial contracts for the West Texas Intermediate (WTI) exceeded the Intercontinental Exchange’s (ICE) Brent Crude for the first time in three years on Friday by 3 cents. At the time of writing, WTI was reasserting its benchmark dominance as the spread between it and Brent disappeared. Limited pipeline access has been the main […]