• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 20 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 4 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 day "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 12 hours Uniper is over - Germany (Government) buys the Company
  • 23 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 10 hours "How BlackRock Conquered the World" by James Corbett (all 3 parts)
  • 1 day "Oil prices likely not responsible for inflation and other energy insights by hedge fund manager Josh Young" - Kitco News interview by David Lin
  • 1 day The Federal Reserve and Money...Aspects which are not widely known
  • 14 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 7 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 11 days Is Europe heading for winter of discontent with extensive gas shortages?
The Cost Of Drilling Continues To Rise

The Cost Of Drilling Continues To Rise

The average cost of developing…

Scientist Invent New Way To Convert Ammonia Into Hydrogen

Scientist Invent New Way To Convert Ammonia Into Hydrogen

Rice University scientists have invented…

Editorial Dept

Editorial Dept

More Info

Premium Content

Asian Buyers Look To The Spot Market For Oil

1. Asian Buyers Seeking Spot Options Amidst Expensive OSPs

- Several Asian refineries surveyed by S&P Platts admitted they would try to tap into the spot market more extensively in 2022 as termed Middle Eastern OSPs remain too expensive.

- Currently, some 12 million b/d of crude is moving every month from Middle Eastern producers to the Asia Pacific and roughly two-thirds of it takes place under OSP-priced term contracts.

- The steep Dubai backwardation curve that persisted throughout 2021 compelled Middle Eastern producers to keep on ramping up official selling prices, effectively penalizing buyers in times of sudden forward structure changes.

- Partially, the drive to buy more cargoes on the spot market also comes from the increasing likelihood of seeing a nuclear deal coming to fruition in 2022.

2. Indonesia Coal Export Ban Sends Ripples Across Asia

- Only a week has passed since the world’s largest exporter of thermal coal, Indonesia, announced it would halt coal exports to keep its production at home as coal markets experience a period of unprecedented turmoil.

- ICE Newcastle coal prices have gained almost $50 per metric ton this week, trading only marginally below the $200 per metric ton mark.

- Routinely, half of Indonesia’s coal exports are supplied to China but Chinese prices saw very little change this week.

- The export ban might be lifted soon as other (albeit smaller) buyers of…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News