(Tue, 08 Mar 2016) North Sea Brent crude oil prices averaged $32/barrel (b) in February, a $1/b increase from January.
Brent crude oil prices are forecast to average $34/b in 2016 and $40/b in 2017, $3/b and $10/b lower than forecast in last month's STEO, respectively. The lower forecast prices reflect oil production that has been more resilient than expected in a low-price environment and lower expectations for forecast oil demand growth.
Two of the biggest names in the oil industry believe that the wounds inflicted by cratering crude prices will heal slowly.
Platts 62% Fe IODEX jumped a whopping $10.70/dry mt (or 20%), its largest daily hike ever, to reach $64.20/mt.
(Mon, 07 Mar 2016) The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015. Coal exports fell for the third consecutive year in 2015, ending the year 23 MMst lower than in 2014 and more than 50 MMst less than the record volume of coal exported in 2012. Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries contributed to the decline in U.S. coal exports.
(Fri, 04 Mar 2016) The first export shipment of liquefied natural gas (LNG) produced in the Lower 48 states on February 24 is a milestone reflecting a decade of natural gas production growth that has put the United States in a new position in worldwide energy trade.
Platts senior news editors discuss how the oil industry is adapting following a Q4 2015 earnings season in which oil companies took another severe hit from low oil and gas prices.
Ardent observers of the steel trade press might have concluded the month of March came in like a lion after reading the top headlines of Tuesday’s Platts SBB Global Briefing.
(Thu, 03 Mar 2016) Crescent Dunes Solar Energy, a 110 megawatt (MW) concentrating solar power (CSP) electricity plant, began full operation in February, according to its press release. Crescent Dunes uses an energy storage system that developers expect will be able to store enough thermal energy to generate electricity for up to 10 hours after sunset or on cloudy days when direct sunlight is unavailable.
EU governments spend billions on aid to their power sectors, but how long will it last and can a new EU market design cut the cost?
London’s streets were rumored to be paved with gold, once upon a time. Now they seem to be paved with chit-chat and hearsay regarding the future of the City’s bullion trade.
