Updates from Northland Energy Trading

  • Propane News & Numbers 12/7/2020
    Mt. Belvieu TET propane prices extended their rally to a third consecutive session on Friday, as crude futures did the same amid strength in US and European equities following encouraging European economic data (the US labor market report was more mixed, with a miss in the headline nonfarm payrolls figure) and weakness in... Read more

  • Market News 12/7/2020
    Reuters reports that the US is preparing to impose sanctions on at least a dozen Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong, including a US official familiar with the matter, according to three sources. Also in the news, Iran has instructed its oil ministry to ... Read more

  • Energy Report 12/4/2020
    Crude futures added further modest gains today amid strength in US and European shares following encouraging European data (despite a less stellar US labor market report for November) and further weakness in the US dollar index, despite another weekly rise in the US oil rig count. Growth in German manufacturers' orders of 2.9% in the month of October was stronger than expected, Italian retail sales growth of 0.6% the same month also beat forecasts, and so did the November UK Construction PMI of 54.7. The UK's FTSE 100 ... Read more

  • Propane News & Numbers 12/4/2020
    Crude futures prices strengthened yesterday amid news that OPEC+ would be raising output by up to 0.5mb/d next month, rather than the 2.0mb/d previously scheduled - although no agreement was reached for future months with this compromise. Also supportive was weakness in the US dollar and strength in US equities, although... Read more

  • Market News 12/4/2020
    Petroleum futures were trading in the black in the overnight session on Friday amid supportive economic data releases from Europe, strength in European and US shares, and weakness in the US dollar. Market participants awaited Canadian Labor Force Survey data, Canadian merchandise trade data, the US employment ... Read more

  • Energy Report 12/3/2020
    Petroleum futures rose for a second consecutive session today amid news that OPEC+ has reached an agreement on output policy, gains in US equities, and weakness in the US dollar. Reuters reported that OPEC and Russia have agreed to a 0.5mb/d increase from January, instead of 2mb/d as previously planned, according to four OPEC+ sources. Sources said that OPEC+ will meet every month to decide on output policies beyond January and that monthly increases are unlikely to ... Read more

  • Propane News & Numbers
    Mt. Belvieu propane prices strengthened along with crude futures yesterday, despite an unsupportive weekly EIA inventory report. Brent crude... Read more

  • Market News 12/3/2020
    Crude oil and refined products futures were seeing small losses in the overnight session on Thursday, as market participants awaited the outcome of OPEC+ oil producer talks and data on the US service sector. Trade in global equities was mixed, but US dollar trade was supportive as the... Read more

  • Energy Report 12/2/2020
    Petroleum futures strengthened today despite an unsupportive weekly EIA inventory report, perhaps with help from a dip in the US dollar index (although it saw see-saw trade today). Equities were mixed, but the UK's FTSE 100 strengthened following the approval of the Pfizer/BioNTech vaccine. The British regulator MHRA gave the green light for inoculations to begin ... Read more

  • Department of Energy Report 12/2/2020
    The Weekly Petroleum Status Report released by the Energy Information Administration this morning was unsupportive all around, showing smaller than expected declines in both crude and propane/propylene stock levels, a surprise and sizeable build in distillates, and a larger than expected rise... Read more