Updates from Northland Energy Trading

  • Propane News & Numbers 11/20/2020
    Benchmark propane prices fell sharply yesterday, extending (and accelerating) their sell-off to a third consecutive session. Mt. Belvieu TET propane prices tumbled 5.2% (2.75 cents) lower to 50.63c/g and Conway spot prices dropped 4.8% (2.50 cents) to 49.50c/g. The losses came amid a 4.4% drop in NYMEX natural gas... Read more

  • Market News 11/20/2020
    Petroleum futures were trading in the black in the overnight session on Friday amid gains in European shares and news that US legislative talks about an additional COVID-19 relief package were set to resume. Market participants looked ahead to Canadian retail sales, the Eurozone Consumer Confidence Index, and the weekly US rig counts from Baker Hughes for... Read more

  • Energy Report 11/19/2020
    Crude futures fell today amid rising Libyan oil production, continued coronavirus-related fears, losses in European equities, and strength in the US dollar. Reuters reported that Libya’s National Oil Corporation (NOC) and France’s Total discussed the NOC’s efforts to raise production capacity and increase production rates to the highest levels, as well as expanding investments of the French company in Libya. Libya’s oil production has reached 1.25mb/d, according to a statement by the NOC. In US economic news... Read more

  • Propane News & Numbers 11/19/2020
    Mt. Belvieu and Conway propane prices fell further on Wednesday despite supportive stock data from the EIA and broad-based (if modest) strength in energy futures... and other news and numbers related to Propane Prices including Selkirk Rack and US Inventories Read more

  • Market News 11/19/2020
    ULSD crack widened as futures jumped 2.49 cents higher to settle at $1.2640/g. New York Harbor ULSD barge differentials strengthened by 10 points against spot NYMEX to -0.65c/g, according to Platts, while HSHO and ULSHO differentials were steady at... Read more

  • Energy Report 11/18/2020
    The ULSD crack was widening following bullish US distillate stock data from the EIA today (crude oil data were neutral), and the gasoline crack was weakening following bearish gasoline inventory figures. Reuters reports that unrest is rising in Nigeria and that oil ... Read more

  • Petroleum Status Report 11/18/2020
    The Weekly Petroleum Status Report for the week ended November 13 was bullish for distillates, but neutral for crude oil and bearish for gasoline. The Energy Information Administration (EIA) reported a much larger than expected drop in distillate stock levels, but an as-expected uptick in crude oil inventories and... Read more

  • Propane News & Numbers 11/18/2020
    Propane prices fell on Tuesday, exhibiting independent weakness as crude oil and NYMEX natural gas futures were little changed. Brent crude edged down 0.2%, while WTI crude edged up. Weakness in the US dollar was supportive, as was talk that OPEC+ could extend the current level of output cuts beyond January, whereas weakness... Read more

  • Market News 11/18/2020
    Futures were strengthening in the overnight session on Wednesday amid news that Pfizer’s COVID-19 vaccine is more effective than previously reported, gains in European and US equities, and weakness in the US dollar, despite bearish US crude oil inventory data from the American Petroleum Institute (API). Market participants looked ahead to US housing starts... Read more

  • Energy Report 11/17/2020
    The OPEC+ group is set to meet on November 30 and December 1. In economic news, US retail sales for October were a miss, with sales growth of 0.3% falling short of consensus at 0.4%, and September sales growth was revised down by 0.3pp to 1.6%. On the other hand, US industrial production rose 1.1% last month, above expectations at 1.0%. The NAHB US Housing Market Index for November was a beat, coming in at 90 - up from 85 last ... Read more