 |
Louisiana Light • 3 days | 78.61 | -1.95 | -2.42% | ||
|
Bonny Light • 2 days | 81.28 | +1.10 | +1.37% | ||
|
Opec Basket • 3 days | 85.00 | +1.11 | +1.32% | ||
|
Mars US • 30 days | 79.71 | -2.05 | -2.51% | ||
|
Gasoline • 1 day | 2.121 | -0.055 | -2.51% |
|
Bonny Light • 2 days | 81.28 | +1.10 | +1.37% | ||
|
Girassol • 2 days | 81.92 | +1.12 | +1.39% | ||
|
Opec Basket • 3 days | 85.00 | +1.11 | +1.32% |
|
Peace Sour • 2 days | 59.71 | -1.90 | -3.08% | ||
|
Light Sour Blend • 2 days | 63.56 | -1.90 | -2.90% | ||
|
Syncrude Sweet Premium • 2 days | 68.16 | -1.90 | -2.71% | ||
|
Central Alberta • 2 days | 61.71 | -1.90 | -2.99% |
|
Eagle Ford • 3 days | 72.44 | -1.90 | -2.56% | ||
|
Oklahoma Sweet • 3 days | 72.00 | -2.00 | -2.70% | ||
|
Kansas Common • 6 days | 65.00 | -0.75 | -1.14% | ||
|
Buena Vista • 4 days | 83.98 | +1.45 | +1.76% |
Near-Record Discount For EU Equities Isn't Enough For Investors
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Fears of Contamination Prompt More Quality Checks of WTI Midland Crude
Pipeline operators and oil exporters have increased routine checks of the quality of the WTI Midland crude after a cargo was found to fail to meet the specifications of the grade due to higher content of metals, Reuters reported on Wednesday, quoting sources with knowledge of the matter.
This year, Energy Transfer discovered a batch of WTI Midland not meeting the specifications, Executive Vice President Adam Arthur said in June.
Pipeline operators and crude exporters tend to mix WTI Midland with cheaper crudes such as Domestic Sweet, West Texas Sour, or Eagle Ford, but these less expensive varieties often contain higher levels of nickel, iron, and vanadium.
Higher levels of iron and vanadium could damage some refineries in Europe, where U.S. crude is flowing in growing volumes. European refineries typically have less complex processing units that cannot separate the excess quantities of metals.
The routine checks have been stepped up this year as pipeline and export terminal operators look to meet all the specifications of WTI Midland crude per the Platts classification.
Concerns have emerged that excess metals quantities could damage the reputation of the crude grade from Texas which is now part of the Brent basket of grades after S&P Global Platts added WTI Midland to the Dated Brent Index in June this year.
In less than a decade since the export ban was lifted in late 2015, U.S. oil has become so significant for the global market that WTI Midland was added in June to the Brent basket of crude oil grades that is used as a benchmark for pricing the world’s most traded oil contract.
The reason WTI Midland is becoming more and more important in the Dated Brent assessment is the record-high volume of U.S. crude being shipped abroad, which has averaged around 4 million barrels per day (bpd) since the start of the year.
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By Tsvetana Paraskova for Oilprice.com
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Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
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George Doolittle on November 15 2023 said:Prices for fuel are starting to collapse across the USA is hardly a surprise to anyone as there is indeed limited refining capacity for all of the "Texas SHIT" they keep on keeping on down there sad but true. Unless you're driving a gasoline powered ICE Platform your Government mandated fascist pig car is the biggest pile of junk ever made. That's hardly good for fuel demand as well. Maybe Texas should get serious about a diesel engine for vehicles that doesn't totally suck ass? Oh that's right that will never happen either. No wonder Cybertrucks are now flooding the market and no one wants any ICE Platform period let alone the fuel for that platform. Maybe hybrid drive systems might prove an exception to that though....over time of course.. -
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Mahdi Elmi tabar on November 15 2023 said:thats cool
George Doolittle on November 15 2023 said:
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
