Cement News tagged under: natural gas
Coal prices remain stable but petcoke slides05 November 2024, Published under Cement NewsCoal prices remained steady at around US$110-120, seeking support from oil, which recovered to US$80/bbl but has since slipped to US$75/bbl. Support from OPEC+, along with a US Federal Reserve rate cut, is supporting demand. Petcoke is under pressure from Chinese ban. As petcoke prices slide, the discount when compared with coal is very high, close to an all-time high. On 22 October 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$50 is 66 per cent when compared with API4... |
OPEC+ struggles to support oil as petcoke offers tempting discounts28 October 2024, Published under Cement NewsIn a market dominated by geopolitical news from the Middle East (Israel–Hezbollah–Gaza) and a new nuclear doctrine from Russia, which puts the next steps in the war in Ukraine in a new perspective, the energy complex has been resilient and moved lower. However, the US Federal Reserve’s interest rate cut of 0.5 per cent following the 0.25 per cent one by the European Central Bank eased the markets. Furthermore, China published a new stimulus plan and interest cuts, which added support, es... |
Discounts high as petcoke slides02 October 2024, Published under Cement NewsOil prices recovered to US$74.50/bbl from US$70 on 20 September 2024, supported by OPEC+ and the US Federal Reserve’s interest rate cut. Coal fell on lower oil prices while gas remained in the US$105-120 range. Meanwhile, petcoke was under pressure from China’s potential ban and as petcoke slides, discounts are very high. On 20 September 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$51 is 62 per cent when compared with API4 coal sold at US$107 in the 4Q24. The CIF ARA ... |
Energy Index driven lower by oil – petcoke below US$60 with high discount offer23 September 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitics still dominate the markets. Financial markets expect the US Federal Reserve to deliver a 0.25 per cent cut in mid-September and a further 0.25 per cent before the US presidential elections. This could be followed by the European Central Bank and seen as the trend for 2025. The focus remains on inflation, which now is falling in both US and EU. Meanwhile, in the Middle East tension has somewhat calmed, however, high levels of tensio... |
Sudden recession fear sends oil and equity markets lower – petcoke now offering higher discounts20 August 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The major equity market decline at the start of August, initiated by an interest rate increase to 0.25 per cent by the Bank of Japan, and followed by weak US employment numbers, suddenly turned the markets into fear of recession. The US Federal Reserve’s (Fed) indication that it will lower interest rates from September was suddenly seen as negative. It seems the market has forgotten that the Fed’s successful strategy to fight inflation is no l... |
Petcoke-coal discounts slip as coal prices drop but freight prices rise05 August 2024, Published under Cement NewsBy Frank O.Brannvoll, Brannvoll ApS, Denmark Petcoke prices have been slightly under pressure from higher freight prices but remain stable. Following a drop in coal prices, discounts have slipped and are back in the inexpensive end of the neutral zone. On 23 July 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$64 is 52 per cent when compared with API4 coal sold at US$106 in the 3Q24. The CIF ARA 6.5 per cent petcoke contract sold at US$89 is at a discount of 34 per cen... |
Oil higher on positive demand forecasts and geopolitical risk while coal and petcoke lower19 July 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Political risk and central banks were key in energy developments in the June-start of July period. The European Central Bank (ECB) and US Federal Reserve (Fed) both restated that interest rate cuts depend on the inflation rate nearing two per cent. The ECB hinted at two more rate cuts and the FED at possibly one. The centre-left election results in the UK and France, along with the European Parliament election results, calmed the market aft... |
ECB lowers interest rate while reduced OPEC+ production cuts send oil lower – China discusses ban on >3% sulphur petcoke26 June 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitical risk premiums slowly vanished and need new events to return. Meanwhile, at the start of June, the focus turned towards OPEC and the central banks. The European Central Bank (ECB) delivered its first cut of 0.25 per cent since 2019, giving equities a boost. However, the US Federal Reserve is still seen on hold until at least September. And further cuts from ECB are expected to be ~0.5 per cent more but fully depend on inflation... |
Petcoke discount continues to offer good potential03 June 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal prices stabilised after their fall in early May as geopolitical developments as well as higher oil and gas prices played their part. The petcoke FOB price trended lower on weak demand and ample supply, testing the low 60s. On FOB and ARA basis, the petcoke discount remains in the cheap zone and offers good potential. On 20 May 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$62.50 is 55 per cent when compared with API... |
Venezuelan sanctions reimposed, Russia pauses coal export fee, while petcoke discount remains attractive20 May 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The war premium and geopolitical tensions eased during April and the energy market’s focus has again shifted towards the demand factor in the energy complex. Oil has retraced together with coal and gas. IMF has adjusted up the expected global GDP growth to 3.2 per cent, but both the US Federal Reserve (Fed) and European Central Bank (ECB) have repeated the mantra “higher for longer” due to developing inflation of above two per cent, especially... |