Saudi energy minister Khalid al-Falih on Sunday rejected accusations by US President Donald Trump that OPEC was keeping oil prices elevated through anti-competitive behavior. OPEC has increased production “a good amount” since June, Falih noted, offsetting declines in member countries Iran and...
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The Inconvenient Truth Of Rising Coal Prices
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium end of the coal market where prices have soared. Over the past six months the price of top quality thermal coal exported from the Australian port of...
https://www.hellenicshippingnews.com/the-inconvenient-truth-of-rising-coal-prices/
NOVATEK shipped first LNG cargo to Brazil
PAO NOVATEK announced that its wholly owned subsidiary, NOVATEK Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras. “Our LNG marketing...
https://www.hellenicshippingnews.com/novatek-shipped-first-lng-cargo-to-brazil/
BofA Merrill raises 2019 Brent crude price forecasts
Bank of America Merrill Lynch raised its Brent crude price forecasts for next year, citing a bigger reduction in Iranian exports than its earlier projections due to a more aggressive stance by the United States. The bank lifted its 2019 Brent price forecasts to $80 a barrel from $75. “Our previous...
https://www.hellenicshippingnews.com/bofa-merrill-raises-2019-brent-crude-price-forecasts/
Europe gas trade volume on track for record in 2018 so far
European gas trading volumes in 2018 may beat the record 51,000 terawatt hours (TWh) recorded in 2016 unless unseasonally warm weather prevails for the rest of this year, Prospex said in a report on Friday. The British research company said slower trading in 2017 was followed by an upturn in the...
https://www.hellenicshippingnews.com/europe-gas-trade-volume-on-track-for-record-in-2018-so-far/
Japan’s crude steel output edges up in August
Japan’s crude steel output rose 0.9 percent in August from a year earlier to 8.81 million tonnes, an industry body said on Friday, reflecting a recovery in production at mills located in areas that saw torrential rain in July. Gushing water broke levees and landslides destroyed houses in west Japan...
https://www.hellenicshippingnews.com/japans-crude-steel-output-edges-up-in-august/
Bahrain tendering to buy 25,000 tonnes wheat – trade
A flour mill in Bahrain has issued an international tender to purchase 25,000 tonnes of wheat, European traders said on Monday. The tender closes on Oct. 2. Some 17,000 tonnes of semi-hard wheat and 8,000 tonnes of hard wheat were sought. Shipment was sought in late November. Source: Reuters...
https://www.hellenicshippingnews.com/bahrain-tendering-to-buy-25000-tonnes-wheat-trade/
Fujairah bunker premium drops from record high, but may find support at current level
Bunker fuel premiums in Fujairah dropped last week after hitting a record high mid-September as supply tightness had eased a little, however, current levels were still high compared to the first half of the year, S&P Global Platts data showed. Some market sources expect the premiums to hover around...
Bulls Gain Conviction in Oil Rally as OPEC Ministers Gather
Money managers’ wagers on higher Brent crude prices are having their longest streak in almost a year. A meeting slated to begin Saturday in Algiers between the Organization of Petroleum Exporting Countries and allies may reveal whether the group will boost output to offset Iran’s plunging crude...
https://www.hellenicshippingnews.com/bulls-gain-conviction-in-oil-rally-as-opec-ministers-gather/
Brent Crude Breaks Above $80 r
The price of Brent oil climbed past $80 a barrel Monday, leaving the international crude benchmark on course to its highest close in almost four years as OPEC and its allies keep their production in check. Brent’s move comes as some analysts believe OPEC and its allies will struggle to make up for...
https://www.hellenicshippingnews.com/brent-crude-breaks-above-80-r/