Saudi Arabia set the Official Selling Price (OSP) for its heavy grade for buyers in the Far East at $5.30/bbl above the Middle-Eastern benchmark for Aug.—higher than the $4.80/bbl premium that had been in place for July but lower than May's record-high premium of $7.95/bbl (in data going back to 1970).
August 18, 2022
The steepest month-on-month spike among the grades and blends covered in the charts below was seen for the coking margin on WTI in the Midcontinent.
August 18, 2022
Improved economic data as well as a forecast for better demand growth and an uptick in implied US demand for gasoline added to the bullishness inspired by a pipeline leak in the US GoM and a stoppage on the Druzhba pipeline, which carries crude from Russia to various European countries.
August 15, 2022
For the week ending Aug. 5, the ongoing tug-of-war between limited supply and concerns that demand will weaken—which has largely driven the market for several weeks—shifted back to the bearish side.
August 08, 2022
Concerns about poor demand amid the possibility of a slowdown in economic growth persist but oil supplies remain tight.
July 25, 2022
The petroleum market continued to be more swayed by the possibility of a worldwide recession than by currently-tight supplies over the week ending July 15.
July 18, 2022
The ongoing story of traders shifting focus between fears of a global recession and concerns about current supply tightness leaned to the bearish side over the week ending July 8.
July 11, 2022
Saudi Arabia set the Official Selling Price (OSP) for its heavy grade for buyers in the Far East at $4.80/bbl above the Middle-Eastern benchmark for July—higher than the $3.00/bbl premium that had been in place for June but lower than May's record-high premium of $7.95/bbl (in data going back to 1970).
July 10, 2022
The steepest month-on-month jump among the grades and blends covered in the charts below was seen for the coking margin on a 50/50 blend of Louisiana Light Sweet and Heavy Louisiana Sweet in the US Gulf Coast (USGC).
July 10, 2022
Futures closing prices for European benchmark ICE Brent climbed by 6.4% from the end of March to the end of June, US benchmark NYMEX WTI rose by 5.5%, and Middle Eastern benchmark DME Oman edged higher by 3.3% over the three-month period.
July 10, 2022
