Page 35 - Platts Analytics News Today

Atlantic thermal coal market looks to evolve in 2021 The Atlantic thermal coal market looks to continue evolving in 2021 as declining demand in Northwest Europe gives way to growing demand in the Mediterranean region, and broader supply and demand dynamics continue to reel from a tumultuous COVID-19-impacted year, while Asian markets look set to play a major role. Atlantic coal oversupply is predicted to fall to under 5 million mt, according to S&P Global Platts Analytics, amid several supply-s...

Cheniere receives LNG cargo cancellation for February from Italy’s Enel: sources Italian utility Enel canceled an LNG cargo for February delivery from Cheniere Energy, which operates two liquefaction terminals and is the biggest exporter in the US, market sources said Dec. 21. Around five cargoes were heard to have been canceled across US LNG terminals for February delivery, sources said. The reason for the latest US cancellations, following only as many as two for January and none for Decemb...

ANALYSIS: Weather forecasts, supply gains pose risk to rally in Northeast winter gas prices As the US Northeast digs out from its first major winter storm, a bullish runup in first-quarter 2021 gas prices there is looking overdone now with weather forecasts and supply gains posing a risk to the rally. Over the past week, freezing temperatures, ice and heavy snow have blanketed the Northeast, fueling a rise in the cash and forwards markets as regional gas demand climbed to its highest since last...

US crude stock draw likely extends as exports push to three-week high US crude inventory declines likely extended during the week ended Dec. 18 amid an uptick in exports, an S&P Global Platts analysis showed Dec. 21. Commercial crude stocks are expected to have declined 4.7 million barrels to around 495.4 million barrels last week, analysts surveyed by Platts said. The draw would leave inventories just shy of 10% above the five-year average of US Energy Information Administration data, in from ...

Henry Hub cash volatility to run into 2021 on sustained production weakness Elevated price volatility and trade volume at the US benchmark Henry Hub this autumn will likely continue into 2021 as domestic production weakness keeps the market off balance. In December, daily changes in the Henry Hub settlement price – calculated in absolute value – are elevated compared to recent history. While at least some of that volatility can be attributed to a single-day 60-cent surge in cash prices at t...

Commodity Tracker: 5 charts to watch this week Commodities are finding support from rising demand after the COVID-19-induced doldrums. In addition, products from energy to emissions to scrap steel are being influenced by other independent factors ranging from policy to infrastructure to shipping constraints, as this week’s Tracker shows. 1. JKM rallies as high Asian demand meets ongoing supply, logistic constraints What’s happening? S&P Global Platts Analytics had long expected strong Asian...

North America LNG export growth ambitions face test over emissions North American LNG export developers may have a smaller field of potential buyers in 2021 as European utilities appear hesitant to sign new long-term commitments for shale gas amid the bloc’s carbon emission reduction goals. That wrinkle could shorten the list of projects that advance, raising the possibility of a supply shortage around the middle of the decade. The 17 liquefaction trains across five terminals in the US, Canad...

Americas Aframax freight set to rise ahead of holiday rush after plunging 47%-56% Abundant charterer inquiry in the Americas Aframax market left sources calling freight for the benchmark US Gulf Coast-UK Continent route higher at w47.5-w52.5 early Dec. 11, after a slew of fixtures set the stage for a long-expected rise in freight for both Upcoast and trans-Atlantic Aframax routes. The market saw at least 15 Aframaxes booked Dec. 9-11 as charterers rushed to make the most of depressed freight ra...

Balanced supply and demand in seaborne thermal coal market driving prices up: Platts Analytics Supply and demand in the seaborne thermal coal market has returned to balance, driving up export spot prices over the last few weeks, S&P Global Platts Analytics said in its weekly report. “We have seen over the past two weeks a surge in spot physical and coal futures prices across the board,” Platts Analytics said in its International Coal Markets Scorecard, adding that the speed and delta of the...