DIRS.INFO The most relevant business & tech news

☆ S&P Global on metrics of success by which COP27 should be measured
▼ + stars: | 2022-11-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailS&P Global on COP27: There should be a 'careful' look at specific measures that demonstrate progressCarlos Pascual, senior vice president for global energy and international affairs at S&P Global Commodity Insights, discusses the metrics by which the success of COP27 should be measured.

Last winter, the spot price peaked at $48.30 per mmBtu, in late December, before dropping to $23 by late January. What the term structure is signalling is that LNG demand may be fairly constant over the year, rather than rising and dropping with the change in seasons. LNG imports by Asia, Europe vs JKM priceFLOWS EVEN OUTCertainly, the flows data appears to be supporting the view of steady demand in both Asia and Europe. Total Asian imports were 20.61 million tonnes in October, little changed from September's 20.25 million, according to data compiled by Refinitiv. It's also worth noting that October's imports were down 6.3% from the 22 million tonnes from the same month last year.

☆ China’s Battery Champion CATL Keeps Powering Up
▼ + stars: | 2022-10-21 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

The world’s largest maker of electric-vehicle batteries is driving at full speed. Securing stable supplies of critical raw materials—while managing an increasingly fraught overseas expansion—is the key challenge ahead. China’s Contemporary Amperex Technology, or CATL, said earlier this month that its net profit for the quarter ending in September was almost triple that of a year earlier. Full results won’t be out until Saturday, but revenue likely also surged while margins probably improved from last quarter—though materials costs, particularly for battery metals, are a headache for all makers. Prices for lithium carbonate in China, for example, have almost tripled from a year ago, according to S&P Global Commodity Insights.

NEW YORK, Oct 19 (Reuters) - U.S. spot crude prices could weaken as the Biden Administration follows through with its plan to sell more barrels from emergency oil reserve by year end, market participants said. Certain oil refineries prefer certain grades of crude, so the mix of barrels sold out of the Strategic Petroleum Reserve (SPR) could have a knock-on effect on the U.S. and global refining market. The SPR barrels have ended up selling at a discount to West Texas Intermediate barrels for delivery at the Magellan East Houston terminal, as demand has increased for sour barrels to make lucrative diesel, Rathod said. The sour market has also been under pressure, due to increased supplies of Canadian heavy sour and lackluster export demand, said Elizabeth Brown at S&P Global Commodity Insights. Additional barrels of sour grades from the SPR could further weigh on prices.

Refiners, insurers, shippers and traders would be able to deal in Russian crude and products if they adhere to the price cap and its associated compliance measures. For argument's sake let's assume a Brent price of $80 by December when the ban comes into effect, and a price cap for Russian crude of $60. However, the United States and Europe may actually not mind cheating on the price cap, depending on how the money is split up. More tankers will be required to ship Russian crude given an increase in voyage times if the crude and products go to Asia rather than Europe. The oil industry would likely prefer that Europe and the United States don't place restrictions on Russian crude, but this currently isn't an option from a political perspective.

☆ Brazil to export record volume of ethanol to Europe this year -S&P Global
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

This year through August, Brazil shipped about 427 million liters of ethanol to Europe, 435% above the figures from the same period in 2021. By the end of 2022, the South American country is expected to export 600 million liters of the biofuel to Europe, said S&P. Brazil's previous record was set in 2010, when it exported 477 million liters to the continent. Raizen (RAIZ4.SA) is Brazil's largest producer of ethanol from sugar cane and a joint venture between Shell (SHEL.L) and Cosan SA (CSAN3.SA). Register now for FREE unlimited access to Reuters.com RegisterReporting by Rafaella Barros; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Rail Shippers Brace for Potential National Strike
▼ + stars: | 2022-09-14 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

Companies from food suppliers in the Midwest to retail importers across the U.S. are bracing for a potential national rail strike by seeking alternative transport to keep their supply chains running. Tens of thousands of American workers are on strike and thousands more are attempting to unionize. “We believe the potential for a rail work stoppage is growing,” Citi’s Christian Wetherbee wrote in a research note Wednesday. Other shippers will have to hold on to cargo if the rail network shuts down. U.S. railroads hauled more than 18,000 carloads of grains over the past week, according to the Association of American Railroads.

Search resuls for: "P Global Commodity"

7 mentions found