US Gulf Coast

USGC Spot Bunker Fuel Prices Impacted By Winter

Spot bunker fuel prices were impacted by winter weather in the US Gulf Coast during the week of Feb. 15-19, leading to rises in some ports in the Americas, such as Balboa, and slight changes in others, says an article published in S&P Global.

US Gulf Coast

Retail bunker markets on the Gulf Coast started the last week of February looking for a foothold after being impacted by freezing weather and a collapse in supply in Texas where terminals and some refinery plants had to be shut.

Uncertainty in...

https://mfame.guru/usgc-spot-bunker-fuel-prices-impacted-by-winter/

US Gulf Coast Back in Action, LNG Export Resumes

  • More than 10 tankers were waiting to load in the US Gulf Coast as LNG plants there slowly resumed exports.
  • This takes place after complications from winter storms prevented tankers from loading and sailing since Feb. 14.
  • Twelve LNG tankers were either waiting to load or in transit to one of the four USGC-based LNG export facilities late Feb. 17.

A recent news article published in the Platts reveals that LNG tankers pile up in US Gulf as loadings slowly restart.

Exports from the US halted

Exports...

https://mfame.guru/us-gulf-coast-back-in-action-lng-export-resumes/

USGC Energy Complex Hit Hard By Winter Storm

US Gulf Coast retail bunker prices edged slightly higher Feb. 17, as suppliers in the region deal with harsh winter weather, says an article published in S&P Global.

Power Blackouts

The USGC energy complex has been hit hard by freezing temperatures and power blackouts, putting many refineries offline and supporting higher prices in the face of limited supply.

The March contract for NYMEX ULSD rose 2.33 cents/gal ($7.29/mt) to 183.77 cents/gal, while the April ICE Brent contract rose 95 cents/b...

https://mfame.guru/usgc-energy-complex-hit-hard-by-winter-storm/

China Increases U.S Crude Purchases To Comply With Trade Deal

  • China to ramp up crude oil and agricultural product purchases from the US.
  • These purchases are done to comply with Phase 1 of the trade deal.
  • LNG prices rise on uncertainties in the Gorgon LNG supply.
  • Seaborne iron ore prices hit a 6-year high.
  • Demand fundamentals weigh down Indonesian thermal coal prices.
  • September contract talks for paraxylene and benzene set to kick-off.
  • Long Range tanker freight rates inch closer to three-month highs

According to an article published in Platts and...

https://mfame.guru/china-increases-u-s-crude-purchases-to-comply-with-trade-deal/

US Gulf Coast Bunker Fuel Prices Plummet To Lowest Since 2016

  • Spot bunker fuel prices on the US Gulf Coast have plummeted.
  • Reached the lowest level in more than three and a half years.
  • Crude oil markets continued to swoon due to coronavirus concerns.
  • Ex-wharf MGO bunkers in Houston down $10 to $385/mt.

According to an article published in Platts, Spot bunker fuel prices on the US Gulf Coast have plummeted to their lowest level in more than three and a half years.

Slowdown due to coronavirus

The underlying crude oil markets continued to swoon due to...

http://mfame.guru/us-gulf-coast-bunker-fuel-prices-plummet-to-lowest-since-2016/

Phillips 66 To Ship Record $14 Million US Crude To South Korea

According to a Reuters report, Phillips 66 tentatively chartered a supertanker to ship U.S. crude from the U.S. Gulf Coast to South Korea for a record $14 million this week, sources said Thursday, as tanker rates continued to soar after U.S. sanctions on units of Chinese giant COSCO.

What is it?

Phillips 66 provisionally chartered the Very Large Crude Carrier (VLCC) Olympic Laurel for $14 million and is expected to load in mid-November, according to Refinitiv Eikon data.

The company did not...

http://mfame.guru/phillips-66-to-ship-record-14-million-us-crude-to-south-korea/