FEATURE: INE’s Shanghai Crude contract sustains Chinese demand for cheap Middle East barrels

Strength in the price of Shanghai crude oil futures hosted on the Shanghai International Energy Exchange, or INE, and a doubling of storage capacity may explain why Iraq’s Basrah and Oman have fetched higher prices in a deeply discounted market for Middle East crudes over April. This month, several...


Natural gas markets remain regionalized compared with oil markets

One indication of this difference between these markets is the correlation, or co-movement, of daily prices. Measures of correlation range between positive one, indicating a very strong relationship for movements in the same direction, to negative one, indicating a strong relationship for movements...


UBS: Oil prices will spike 115% by the end of 2020 in a dramatic reversal of the current crisis (UBS)

Oil prices have been volatile in recent days due to lack of storage options, and last week US oil dropped into negative territory for the first time in history. On Monday oil prices plummeted 30% after United States Oil Fund, one of the biggest exchange traded funds in oil announced it would sell...


U.S. refinery earnings to detail troubled outlooks as fuel use slumps

U.S. refiners are expected to report poor first-quarter results starting this week, but investors are more concerned about the outlook for coming months as various states ease movement restrictions designed to curb coronavirus infections. Fuel demand has dropped by roughly 25% in the United States...


Coming U.S. shale results will test extent of oil hedges, output cuts

As low crude oil prices leave U.S. producers struggling to eke out profits, investors will focus on production hedges and cost-cuts to determine winners from losers as first quarter earnings roll out in coming days. Global energy demand have tumbled by nearly a third due to coronavirus lockdowns,...


Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.