|SHIPPING RATES & BUNKERS ( 10:15 am ET )|
|DIRTY TANKER (KT - $/day)||VOYAGE||SPOT TCE EARNINGS||2018 AVG. RATE|
|CLEAN TANKER (KT - $/day)||VOYAGE||SPOT TCE EARNINGS||2018 AVG. RATE|
|TIME CHARTER (KDWT)||1YR ECO RATE ($/day)||NEWBUILD PRICE ($M )||SECONDHAND 5YR PRICE ($M)|
|VLCC , 200+||26,000||90.0||61.0|
|US FLAG (KT - $/day)||VOYAGE||WEEKLY SPOT RATE||2018 AVG. RATE|
|LNG ($/day)||WEEKLY SPOT RATE||CURRENT MONTH RATE||2018 AVG. RATE|
|160M3 Tri-fuel diesel electric (West)||90,000||90,000||70,525|
|138-150M3 Steam turbine (West)||68,000||68,000||49,975|
|160M3 Tri-fuel diesel electric (East)||110,000||110,000||61,425|
|138-150M3 Steam turbine (East)||70,000||70,000||41,075|
|LPG (KT)||LAST POSTED SPOT RATE ($/mt)||SPOT TCE RATE ($/day)||1yr TIME CHARTER RATE ($/day)|
|VLGC, 44 (AG-Japan)||47.93||27,138||19,737|
|BUNKERS ($/mt)||IFO 380||MDO|
Natural gas storage likely to enter winter at multi-year low.
The Energy Information Administration (EIA) predicts that natural gas inventories will reach 3,263 Bcf at the end of Oct., the lowest level for Us natural gas inventories since 2005. Extremely cold temperatures in Apr. 2018 delayed the start of natural gas storage refill season by nearly four weeks. That in addition to the high withdrawal levels in Jan. 2018 led to storage levels that have remained lower than the previous five-year minimum. With that said, the late-season injections over the past four weeks (81Bcf) have been close to their five-year averages (82 Bcf). Growth in domestic production of natural gas coupled with infrastructure expansion may have reduced the need for operators to store as much natural gas.
China's Sept. crude imports climb to four month high.
Chinese daily crude oil imports in Sept. hit their highest levels since Sept. according to customs data, as independent refiners seeks to build up inventory ahead of winter. Imports last month were 9.05 mbpd, up from 9.04 mbpd in Aug., a third consecutive monthly rise. Chinese crude imports have risen 6% during the first nine months of the year from the same period in 2017. Some independent refiners, known as teapots, are concerned that higher oil prices could deter their profit margins.
IEA lowers oil demand growth expectations.
The International Energy Agency said oil demand growth will grow at a slower pace than previously predicted as trade tensions escalate and higher oil prices put some pressure on the global economy. Growth estimates for 2018 and 2019 have been softened by 110,000 bpd to 1.3 mbpd and 1.4 mbpd, respectively. The IEA revisions to demand growth follow similar estimates by OPEC.
Ecuador and Peru discuss exploring oil and gas blocks.
The two neighboring countries are in talks to jointly explore two oilfields at the border and allow state-run Petromazonas to operate natural gas areas in Peru, said the Ecuadorian Energy Minister. Earlier this year, Ecuador awarded foreign and domestic energy firms exploration and production rights for four oil blocks in the Andean country. It plans to continue offering areas through an onshore auction later this year and another in 2019 for natural gas blocks off the Pacific. The jointly produced crude would go to feed Peru's 65,000 bpd Talara refinery via an existing pipeline. Meanwhile, the jointly-produced natural gas in Peru would be exported to Ecuador to offset a shortage. Ecuador is opening up, allowing operators to export oil independently.
|COMMODITIES, (9:35 am ET )|
|CRUDE||SOURCE||UNIT||LAST PRICE||Δ PRIOR DAY CLOSE|
|PRODUCTS||SOURCE||UNIT||LAST PRICE||Δ PRIOR DAY CLOSE|
|NATURAL GAS||SOURCE||UNIT||LAST PRICE||Δ PRIOR DAY CLOSE|
|US Henry Hub||NYMEX||$/MMBtu||3.20||-0.02|
|UK National Balancing Point||ICE||$/MMBtu||9.48||+0.33|
|NATURAL GAS LIQUIDS||SOURCE||LAST PRICE (₵/gal)||LAST PRICE ($/mt)||Δ PRIOR DAY CLOSE(₵/gal)|
|US Mont Belvieu Propane (Spot)||Bloomberg||96.38||502.40||-4.37|
|PRICE SPREADS ($/bbl)||SOURCE||LAST PRICE||Δ PRIOR DAY CLOSE|
|Brent 3-2-1 Crack||ICE||6.45||-0.03|
|MARKETS, ( 9:35 am ET )|
|EQUITIES||REGION/COUNTRY||LAST VALUE||Δ PRIOR DAY CLOSE|
|S&P 500||United States||2,728.37||-57.31|
|FTSE 100||United Kingdom||7,055.23||+48.30|
|CURRENCIES||REGION/COUNTRY||LAST VALUE||Δ PRIOR DAY CLOSE|
DOE US INVENTORY (mb)
|OCT. POSTED / SPOT PRICES ($/mt)||Propane||Butane|
|OPIS North Sea||606.00||650.50|
EIA US WORKING NATURAL GAS IN UNDERGROUND STORAGE
(Nov. 2016 - Nov. 2018)
Oct. 16-19: CWC Asia Pacific Summit, Singapore. Poten sponsoring, Stephen Thompson speaking.
Nov. 8-9: LNG101: Energy for a Cleaner Future Business Training. Poten and NYU hosting.