US steel wonders if interventions are enough to keep imports at bay
US mills still file trade cases, sometimes massively, but it seems the days when the government would step in to enact comprehensive solutions are over.
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(Thu, 14 Jan 2016) Based on EIA's weekly survey of gasoline prices, the U.S. average retail price for regular gasoline fell to $1.996 per gallon (gal) on January 11, falling below $2.00/gal for the first time since March 23, 2009. The U.S. average retail regular gasoline price had last approached, but not gone below, the $2.00 mark in early 2015. Falling gasoline prices are a result of falling crude oil prices and the seasonal slowdown in gasoline demand.
European LNG reloads ex-Spain grow in 2015 as new markets emerge
Platts managing editor for LNG in Europe, Desmond Wong, explains why market players see European ex-Spain reloads as a viable option to the Iberian peninsula.
Crude oil prices to remain relatively low through 2016 and 2017
(Wed, 13 Jan 2016) The Short-Term Energy Outlook (STEO) released on January 12, which is the first STEO to include projections for 2017, forecasts Brent crude oil prices will average $40 per barrel (b) in 2016 and $50/b in 2017. West Texas Intermediate (WTI) crude oil prices are expected to be $2/b lower than Brent in 2016 and $3/b lower than Brent in 2017
Against the grain: Agriculture grapples with price pressures
The gathering storm swirling around commodity markets augers of troubled times ahead.
State severance tax revenues decline as fossil fuel prices drop
(Tue, 12 Jan 2016) Several states that collect significant revenue from severance taxes on fossil fuel extraction are re-evaluating current and upcoming operating budgets and taxation structures to address revenue shortfalls. Severance taxes are often imposed on the extraction of nonrenewable resources such as crude oil, natural gas, and coal. Lower fossil fuel prices, and in some cases, lower production, have led to lower severance tax receipts than were expected when revenue estimates were developed.
Political promises squeeze Canadian oil industry
The oil industry had eight years of an energy friendly government in Canada and couldn’t get a single new export pipeline built.
Wholesale power prices decrease across the country in 2015
(Mon, 11 Jan 2016) Wholesale electricity prices at major trading hubs on a monthly average basis for on-peak hours were down 27%-37% across the nation in 2015 compared with 2014, driven largely by lower natural gas prices. Because natural gas-fired generation sets the marginal price in many markets, wholesale electricity prices are sensitive to changes in natural gas prices.
Ethane cash cow a red herring for European petchems producers
For the first time in history the marginal cost of producing plastics in Europe will not be determined by the value of crude oil, but by the price of US gas.
Coal production and prices decline in 2015
(Fri, 08 Jan 2016) Since reaching a high point in 2008, coal production in the United States has continued to decline. U.S. coal production in 2015 is expected to be about 900 million short tons, 10% lower than in 2014 and the lowest level since 1986. Regionally, production from the Appalachian Basin has fallen the most. Low natural gas prices, lower international coal demand, and environmental regulations have contributed to declining U.S. coal production.