Crude Oil

Discussion in 'Commodity Futures' started by bone, Nov 7, 2018.

  1. themickey


    [​IMG] Bloomberg ›
    China Oil Imports From Ship-to-Ship Transfers Surge in September
    October 08, 2019
    Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies.

    Some 910,000 tons of crude, three times as much as in August, was offloaded at Chinese ports after being transferred in the South China Sea, according to ship-tracking data compiled by Bloomberg. It’s unclear where this oil came from, but moving crude from one vessel to another at sea is a common way of disguising the origin of cargoes.

    The world’s biggest crude importer has been struggling to replace lost barrels from Iran and Venezuela, which have been hit by White House sanctions this year. Cargoes from the U.S. also dropped markedly last month, the data show, after Beijing imposed tariffs on American oil for the first time on Sept. 1 as the trade war heated up. Meanwhile, shipments from Malaysia almost tripled.

    “I think its highly likely that these ship-to-ship and Malaysian volumes are Iranian or Venezuelan crude,” said Michal Meidan, director of the China Energy Programme at the Oxford Institute for Energy Studies. “But of course the whole point here is to make it hard to be sure.”

    Imports from Malaysia rose to 1.385 million tons last month, making it the seventh-biggest supplier to China, up from 16th in August. Malaysian domestic production is limited, so it’s likely the increased volumes are coming from other countries and being blended in the Southeast Asian nation, said Liu Yuntao, an analyst at Energy Aspects Ltd.

    — With assistance by Sarah Chen, and Ann Koh
    #251     Oct 8, 2019
  2. themickey


    reports of Iranian tanker blast
    By Barbara Kollmeyer
    Published: Oct 11, 2019 4:17 a.m. ET

    Incident could reignite tensions in the Middle East

    [​IMG] AFP/Getty Images
    A picture taken on March 12, 2017, shows an Iranian tanker docking at the platform of the oil facility in the Khark Island, on the shore of the Gulf.

    Oil prices jumped Friday morning after reports of an Iranian tanker explosion in the Red Sea raised the possibility of tensions in an already simmering Middle East.

    The tanker sustained damages after being hit by missiles that were launched from the Saudi Arabian port of Jeddah, according to the state-run IRNA news agency, citing Iran’s National Iranian Tanker Co. The stricken vessel was identified as the Sabity, according to those reports.

    West Texas Intermediate crude for November delivery CLX19, +2.04% climbed $1.07, or 2%, to $54.60 a barrel, while the global benchmark, December Brent crude BRNZ19, +2.13% jumped $1.15, or 2%, to $60.25 a barrel.

    Potential for renewed conflict in the Middle East was clearly a fresh driver for investors Friday. Reports of the Iran tanker blast come amid allegations that the country has been behind attacks in recent months on oil tankers close to the Strait of Hormuz, a well-known oil choke point. Officials in the U.S and Saudi Arabia believe Iran was behind a missile attack on Saudi oil facilities last month, though Tehran has denied involvement in any attacks.

    “Spare capacity remains fragile and with supply chain vulnerability a worrying concern at virtually every Middle East oil field, traders continue to hedge supply risk premium,” said Stephen Innes, Asia Pacific market strategist at AxiTrader.

    Hopes for a positive outcome to U.S-China trade talks helped drive sharp gains for oil prices on Thursday. WTI crude settled 1.8% higher at $53.55 a barrel, the highest front-month settlement since Oct. 1, according to Dow Jones Market Data. Brent closed up 1.3% to finish at $59.10 a barrel, the highest close since Sept. 30.
    #252     Oct 11, 2019
  3. ForexSB


    Seems like the market rally on Friday was just temporary. Despite Trump claiming the trade deal was very big, I still feel that the price trend should be bearish as nothing is really signed, the game changer will be in the next 5 weeks at Chile. Also, technical indicators since the past few weeks. Bloomberg has mentioned that short positions have doubled since the drone attacks. There are some new developments over the weekend that can be bearish for prices: -
    1. Iran ready for talks with Saudi Arabia with or without mediation by Pakistani PM.
    2. The typhoons in Japan has the city somewhat paralysed.
    I do believe that prices might rally briefly in the AM when the Chinese markets are open but will not expect it to cross $58 +.
    What do you all think ?
    Last edited: Oct 13, 2019
    #253     Oct 13, 2019
  4. themickey


    [​IMG] Bloomberg ›

    Oil Tanker Anchored on Asia’s Busiest Shipping Route to Become Refueling Hub
    Jack Wittels November 12, 2019
    A Euronav NV-owned supertanker anchored along Asia’s busiest shipping route is set to become a refueling hub as the company seeks to secure cheaper fuel for its fleet ahead of new industry rules.

    The Oceania, one of the world’s biggest oil carriers, will serve as a floating storage and distribution center for marine fuel in waters off Kuala Linggi International Port on Malaysia’s west coast. The port will be Euronav’s hub for low-sulfur fuel and marine services in the region, according to an agreement signed Tuesday with T.A.G. Marine Sdn Bhd., the port operator.

    The ultra-large crude carrier with capacity of about 3 million barrels arrived off Malaysia in late-September laden with low-sulfur fuel after beginning her 12,400-mile (19,955-kilometer) journey from the Mediterranean Sea in August. Her presence in Asia will provide Euronav’s fleet with a ready supply of shipping fuel ahead of the new IMO 2020 standards that take effect Jan. 1, which could prompt a scramble for low-sulfur barrels and push up prices.
    The Oceania
    While refueling activities are typically carried out from onshore terminals and tanks in bunker ports across Singapore, Malaysia and China, the Oceania will serve as a floating storage hub. The tanker has anchored off the port with 3 million barrels of 0.2% and 0.5% low-sulfur fuel oil, T.A.G. Marine said in a statement.

    The port operator’s agreement with Euronav is a shot in the arm for Kuala Linggi port, known as Sungai Linggi, as most vessels traversing the Malacca Strait typically choose to refuel in Singapore or Port Klang in Malaysia.
    #254     Nov 12, 2019
  5. vanzandt


    Its not there. (This site is as cool as your Windy site.)
    If you close that little window with the ship's info, its amazing to see how many ships are out there. Zoom out a little.
    #255     Nov 12, 2019
    themickey likes this.