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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Energy

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

16 Die in Coal Mine Accident in China

Sixteen workers were killed after a coal mine collapsed in China's far western region of Xinjiang, the official Xinhua news agency reported on Saturday, highlighting

 
 
Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1628 sec (6 req/sec)