Will Cunliffe
Research Analyst, The Officials
Liar’s poker
Nonsense is being spouted by both the US and Iran, Europe's diesel situation is dire, Germany's economy is on the mend while the US' wains.
Nonsense is being spouted by both the US and Iran, Europe's diesel situation is dire, Germany's economy is on the mend while the US' wains.
According to IRNA’s citing of the head of the National Iranian Oil Company, Iranian production is “in a favourable state”. That seems unlikely, as Kharg Island loadings have cratered – TankerTrackers.com counted zero loadings in the first two weeks of August! So much nonsense being perpetuated on all sides...The North Sea window today was almost a carbon copy of yesterday. Chevron offered 11-15 Sep Midland down to $1.10 over Dated and Shell offered the same dates considerably higher at Dated +$1.65. Cnooc was back offering Johan Sverdrup again for 20-24 Sep at Dated +$1.20. With the front of the curve rolling up the contango though the physical differential was barely moved closing at 44c. The Dated derivative complex weakened today, as the Sep DFL fell to its lowest since 7 August and CFDs dropped down the curve.
The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.
Written by
About Euro Edition
Benchmark reports published at the end of the London trading day.
More News
You can’t handle the truth!
Edition: Euro EditionVolume: 3Issue: 165
There's a high number of vessels docked at ports inside the Gulf, Trump thinks he can replace Canada as US inflation is on the rise.
Price puncture
Edition: Asia EditionVolume: 3Issue: 162
Strange Saudi allocations, rumours on ADNOC's ninth tender, India's Russian lifeline is in danger and Japan plans for supply diversification
Liquidity Report 2.34
Edition: Liquidity ReportVolume: 2Issue: 34
Exchange traded volumes were almost entirely down w/w while y/y volumes were mixed.