ANS Crude Sold At Discount

Monday, July 30, 2001
A cargo of Alaska North Slope (ANS) for September delivery was sold to a California refiner at a discount of $2.75 a barrel to September West Texas Intermediate (WTI) crude. The deal marked a further widening of the ANS discount against WTI since a low for the year was set on July 3 with two deals at discounts of $1.59 and $1.61. In January of this year the discount stood at levels of over $5. On Wednesday of this week two deals were struck for September delivery of ANS to Hawaii at the same price of $2.25 a barrel below ANS on a delivered basis. Traders had said this equated to a price of about $2.75/$3.00 per barrel below WTI for delivery to California or Washington state, because of the higher cost of shipping to Hawaii. Crude values have been weakening on the U.S. West Coast recently because of high levels of crude oil and refined products inventories and deteriorating refining margins. Data from the American Petroleum Institute (API) shows that refinery utilization in the PADD 5 region of the western United States slipped to 92.3 percent last week from 95 percent. PADD 5 crude oil inventories rose by some 400,000 barrels to 55.6 million barrels last week and were some 2.2 million barrels higher than at the same time last year. - (Reuters)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

World’s Largest Containership First Tested at MARIN

MARIN was delighted to take part in a truly historic milestone in the industry when Daewoo Shipbuilding and Marine Engineering (DSME) asked MARIN to investigate

Is Glycerine the Next Marine Fuel?

Following a year described as “intense activity,” the Glycerine Fuel for Marine Sustainability project (GLEAMS) concluded that Glycerine is a viable, exceptionally clean alternative marine fuel.

Energy

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Energy’s Promising Future Threatened

Unrealistic Fears and Overstated Risks obscure the benefits of new seismic data. The United States stands poised on the edge of a bright energy future. After decades

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2145 sec (5 req/sec)