• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 1 hour Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
  • 9 hours A legitimate Request: France Wants Progress In Ukraine Before Russia Returns To G7
  • 1 hour China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 17 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 7 hours Used Thin Film Solar Panels at 15 Cents per Watt
  • 1 hour US to Drown the World in Oil
  • 11 hours IS ANOTHER MIDDLE EAST WAR REQUIRED TO BOLSTER THE OIL PRICE
  • 6 hours Strait Of Hormuz As a Breakpoint: Germany Not Taking Part In U.S. Naval Mission
  • 3 hours Iran Is Winning Big In The Middle East
  • 1 hour With Global Warming Greenland is Prime Real Estate
  • 1 hour Tit For Tat: China Strikes Back In Trade Dispute With U.S. With New Tariffs
  • 22 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 21 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 8 hours LA Solar Power/Storage Contract
The US Light Crude Wave In Europe

The US Light Crude Wave In Europe

Europe has been one of…

Alberta Extends Oil Production Cuts

Alberta Extends Oil Production Cuts

Alberta has announced an extension…

Chicago Gasoline Highest-Flying Commodity Benchmark In Trump Era

Gasoline

Between U.S. President Donald Trump’s inauguration on January 20, 2017, and end-February 2018, eight out of 11 commodity benchmark prices tracked by S&P Global Platts increased, with Chicago CBOB Gasoline leading the pack with an 11.8-percent increase.

Platts has been monitoring a group of 11 commodity benchmarks and comparing them in President Trump’s term to date with Barack Obama’s eight years in office between January 2009 and January 2017, although fundamentals and a range of other factors influence commodity prices, Joseph Innace, Platts metals content director, Americas, writes in a blog post.

Platts has compared the price of those 11 commodity benchmarks on January 19, 2017—the day before President Trump’s inauguration—with the running-average prices between inauguration day and February 28, 2018. The comparison showed that Chicago CBOB Gasoline increased the most, followed by the jet fuel benchmark price that rose by 8.9 percent.

Dated Brent Crude’s running average in the Trump era was $56.14 a barrel between January 20, 2017, and February 28, 2018, compared with $53.31 the day before inauguration day, an increase of 5.3 percent.

New York Harbor fuel oil’s running average rose by 4.3 percent in the Trump era, and key metals benchmarks gold and aluminum were up by 6.4 percent and 5.3 percent, respectively.

Three commodity benchmarks have traded lower since President Trump’s inauguration—natural gas, down 6.5 percent, thermal coal, down 5.9 percent, and global iron ore, down 11.1 percent.

Related: The Oil Giant That Investors Ignore

The steel benchmark, the U.S.-made hot-rolled coil, was up just 1 percent between inauguration day and end-February, but after the 25-percent tariff on steel imports was announced on March 8, the benchmark prices have jumped. Since March 1, the U.S.-made hot-rolled coil benchmark price has averaged $823.61 per short ton, almost $188 per short ton above the 13-month running average, Platts has calculated.

Between March 1, the day of President Trump’s announcement that he would levy the tariff, and March 9, the day after he signed the order, the US-made hot-rolled steel coil gained nearly $57 per short ton, a 7.2-percent jump.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play