Page 16 - Platts Analytics News Today

The US Department of Agriculture has kept all US supply and use projections unchanged from November estimates, it said in its World Agriculture Supply and Demand Estimate report released Dec. 9. The US soybean yield forecast for the 2021-22 marketing year (September-August) has been estimated at 51.2 bu/acre, steady on the previous estimate in November, ...

India is witnessing strong petrochemicals demand recovery and the rise in crude prices is unlikely to create hurdles for the sector which is expected to grow faster than the country’s GDP in the foreseeable future, Janardhanan Ramanujalu, SABIC’s vice president and regional head for South Asia, Australia and New Zealand, told S&P Global Platts. He ...

Uncertainties on the potential impact of the omicron variant continues to grip markets this week. Our editors also keep an eye on oil prices after OPEC+ decided to stick to its planned production increase in January, the correlation between implied inflation and energy prices, and China’s steel demand. 1. Flight restrictions in response to omicron ...

China’s rush for long-term LNG contracts with the US has been triggered by record high spot LNG prices but the deals also reflect pent up demand for uncontracted volumes, attractive pricing offered by suppliers, the benefits of US LNG like destination flexibility and optimism about future demand growth. The deals come amid signs of cooperation ...

India’s gasoline output rose in October, with production hitting a seven-month high on robust local demand as driving activity accelerated, but a sense of cautious optimism prevails as the new COVID-19 variant omicron emerges worldwide, threatening to put brakes on this recovery, industry sources told S&P Global Platts. “The market is assessing the impact of ...

All eyes are on the upcoming OPEC+ meeting Dec. 1-2 following the announcement of the US SPR release as well as the risks brought about by the omicron variant of COVID-19. Germany’s coal phase-out law review and the world’s largest rice exporters are also in focus. 1. With a coordinated SPR release on the horizon ...

US crude oil inventories moved higher in the week ended Nov. 19 as a sharp decline in exports offset rising refinery demand, US Energy Information Administration data showed Nov. 24. Total commercial crude stocks climbed 1.02 million barrels to 434.02 million barrels in the week to Nov. 19, EIA said, leaving stockpiles around 7.2% behind ...

US natural gas production surged to more than 95 Bcf/d Nov. 24, hitting a nearly two-year high that comes as domestic operators stage a prewinter push that has recently begun to cool the bullish sentiment in the forward gas market. The new high caps an almost eight-week drive by producers to lift output from stubbornly ...

US refinery margins softened for the week ended Nov. 19, despite a fall-off in crude prices, partly on lower demand for gasoline due the increase in coronavirus cases and high prices, an analysis from S&P Global Platts showed Nov. 23. US gasoline demand for the week ended Nov. 12 dipped 18,000 b/d to 9.241 million ...

Winter forward basis at Waha is down sharply since the start of November amid a recent acceleration in Permian Basin production and drilling activity that comes just as the outlook for US seasonal heating demand begins to cool. In recent trading, the shifting supply and demand considerations have prompted a stunning selloff along Waha’s forward ...