June 11, 2018 [TankTerminals.com] - Market Brief: Oil Prices, Crude Curve, Distillates Still Strong. Storage Opportunities Worldwide: Light Ends FP
Oil Prices
Oil prices are cooling off after hitting their highest level since late 2014. Despite fears over a potential loss of some of Iran’s oil exports and the collapsing Venezuelan production, Brent is now trading just 75 USD on fears that OPEC will boost production. Rumor has it that the United States has quietly asked Saudi Arabia and other OPEC nations to raise oil production by 1MM bbl. Also, funds are unwinding their positions, exacerbating the move down. The WTI/Brent spread has widened again: The discount is now at 10 USD on pipeline capacity constraints in combination with soaring US shale production.
Crude Curve
The crude curve is coming off as well, Brent expired in contango last month but is now showing some resilience on the new front spread, WTI Jul/Aug is now gradually moving lower again as well and is now shy of being flat with probably more room to the downside. Fuel oil is strong, Jun-Dec is above 25 USD backwardation. Physical flows are lower and exports from ARA to Singapore are lower as well.
Distillates Still Strong
Distillates are still strong, inventories keep dropping both here and in the US but the curve is cooling off as demand will gradually start to weaken and supplies are picking up. Jun/Dec has moved lower from 12 USD to 4 USD backwardation in a week on a less tight outlook. The Gasoline driving season is starting off on a weak note and inventories in the US continue to build. The curve is cooling off and the back-end has weakened quite a bit too.
| Tank Storage Availability Worldwide | ||||
| Capacity (m3) | Product | Location | Available from | Enquire for Storage |
|---|---|---|---|---|
| New | ||||
| 177,000 | Light Ends FP <60 | Belgium | Now | Click here |
| 7,500 | Light ends FP <60 | Norway | Now | Click here |
| Belgium – The Netherlands | ||||
| 406,000 | Diesel / Gasoil | Amsterdam | Now | Click here |
| 75,000 | Light ends FP<60 | Amsterdam | Now | Click here |
| 23,400 | Dirty Petroleum Products | Amsterdam | Now | Click here |
| 1,200 | Dirty Petroleum Products | Rotterdam | Now | Click here |
| 258,000 | Light ends FP<60 | Rotterdam | Now | Click here |
| 135,000 | Diesel / Gasoil | Rotterdam | Now | Click here |
| 16,000 | Chemicals | Rotterdam | Now | Click here |
| 13,000 | Vegoils | Inland Netherlands | Q3/Q4, 2018 | Click here |
| 5,000 | Bitumen | Inland Netherlands | Now | Click here |
| 5,900 | Various | Inland Netherlands | Now | Click here |
| 18,000 | Chemicals | Belgium | Now | Click here |
| 70,000 | Biodiesel | Belgium | Q3, 2018 | Click here |
| 73,600 | Diesel / Gasoil | Belgium | Now | Click here |
| North Europe | ||||
| 100,000 | Crude | North Germany | Now | Click here |
| 4,000 | Diesel / Gasoil | North Germany | Now | Click here |
| 15,000 | Diesel / Gasoil | Inland Germany | Now | Click here |
| 5,927 | Chems | Inland Germany | Now | Click here |
| 3,000 | Diesel / Gasoil | West Coast UK | Now | Click here |
| 13,000 | Various Products | West Coast UK | Now | Click here |
| 28,000 | Various Products products | East Coast UK | Now | Click here |
| 4,000 | Vegoil / Chems | East Coast UK | Now | Click here |
| 15,000 | MGO / IFO | East Coast Scotland | Now | Click here |
| 100,000 | Light Ends FP<60 | Ireland | Now | Click here |
| 100,000 | Crude | Ireland | Now | Click here |
| 10,200 | Vegoils / Chems | Denmark | Now | Click here |
| 2,200 | Light Ends | Denmark | Now | Click here |
| 285,000 | Diesel / Gasoil | Denmark | Now | Click here |
| 651,000 | Diesel / Gasoil | Sweden | Now | Click here |
| 412,500 | Dirty Petroleum Products | Sweden | Now | Click here |
| 14,300 | Vegoils | Sweden | Now | Click here |
| 4,000 | Chemicals | Finland | Now | Click here |
| 324,000 | Diesel / Gasoil | Finland | Now | Click here |
| 48,000 | Light Ends FP<60 | Lithuania | Now | Click here |
| 140,000 | Crude | Estonia | Now | Click here |
| 97,000 | Diesel / Gasoil | Estonia | Now | Click here |
| 73,000 | Light Ends FP<60 | Estonia | Now | Click here |
| 23,500 | Light Ends FP<60 | Latvia | Now | Click here |
| South Europe | Mediterranean | Black Sea | ||||
| 17,700 | Various Products Products | Portugal | Q3, 2018 | Click here |
| 60,000 | Biodiesel | Spain | Now | Click here |
| 56,000 | Various | NW Spain | Now | Click here |
| 23,000 | Vegoils/ Chems | South Spain | Now | Click here |
| 25,000 | Dirty Petroleum Products | South Spain | Now | Click here |
| 110,000 | Diesel / Gasoil | East Spain | Now | Click here |
| 70,000 | Diesel / Gasoil | East Spain | April, 2018 | Click here |
| 317,000 | Light Ends FP<60 | East Spain | Now | Click here |
| 80,000 | Diesel / Gasoil | East Spain | Now | Click here |
| 20,000 | Dirty Petroleum Products<60 | East Spain | Now | Click here |
| 25,000 | Dirty Petroleum Products | East Spain | Now | Click here |
| 5,000 | Chems | North France – Inland | Now | Click here |
| 2,000 | Chems | South France – inland | Now | Click here |
| 50,000 | Diesel / Gasoil | NW France | Now | Click here |
| 35,000 | Light Ends FP<60 | NW France | Now | Click here |
| 6,600 | Vegoils / Chems | NW France | Now | Click here |
| 150,000 | Diesel / Gasoil | East Med | Now | Click here |
| 10,000 | Chems / petroleum prods | Croatia | Now | Click here |
| 7,500 | Chemicals | NE Italy | Now | Click here |
| 15,000 | Diesel / Gasoil | NE Italy | Now | Click here |
| 12,000 | Light Ends FP >60 | NW Italy | Now | Click here |
| 30,000 | Various Products | NW Italy | Now | Click here |
| 8,000 | Chemicals | NW Italy | Now | Click here |
| 46,000 | Diesel / Gasoil | NW Italy | Now | Click here |
| 7,000 | Molasses | NW Italy | Now | Click here |
| 9,900 | Gasoline | Albania | Now | Click here |
| 30,000 | Light Ends FP<60 | Georgia | Now | Click here |
| 100,000 | Dirty Petroleum Products | Georgia | Now | Click here |
| 45,000 | Dirty Petroleum Products | Ukraine, Danube | Now | Click here |
| 30,000 | Light Ends FP<60 | Ukraine, Danube | Now | Click here |
| 12,000 | Dirty Petroleum Products | Ukraine, Danube | Now | Click here |
| 5,000 | Vegoils / Chems | Ukraine, Danube | Now | Click here |
| 120,000 | Light Ends FP<60 | SE Turkey | Now | Click here |
| 45,000 | Dirty Petroleum Products | SE Turkey | Now | Click here |
| 12,000 | Vegoils | Illichevsk | Now | Click here |
| 5,000 | Chems | SW Russia | Now | Click here |
| 20,000 | Methanol | SW Russia | Now | Click here |
| Africa | ||||
| 14,200 | Chems, excl. acids | Egypt | Now | Click here |
| 6,000 | Vegoils / Chems | Egypt | Now | Click here |
| 10,000 | Diesel / Gasoil | Egypt | Now | Click here |
| 2,000 | Chemicals | Kenya | Now | Click here |
| 20,000 | Chemicals | Tanzania | Now | Click here |
| 55,000 | Light Ends FP<60 | Ghana | Sept, 2017 | Click here |
| 10,000 | Gasoline | South Africa | Now | Click here |
| 10,000 | Diesel / Gasoil | South Africa | Now | Click here |
| 2,200,000 | Crude | South Africa | Now | Click here |
| Middle East | ||||
| 100,000 | Various Products | Gujarat, India | Now | Click here |
| 97,600 | Chems | Gujarat, India | Now | Click here |
| 15,000 | Bitumen | Gujarat, India | Now | Click here |
| 100,000 | Diesel / Gasoil | Gujarat, India | Now | Click here |
| 884,200 | Various Products | UAE | Sept, 2017 | Click here |
| 172,000 | Diesel / Gasoil | UAE | Now | Click here |
| 91,180 | Light Ends FP<60 | UAE | Now | Click here |
| 74,000 | Dirty Petroleum Products | UAE | Now | Click here |
| 35,795 | Chems | UAE | Now | Click here |
| Far East Asia | ||||
| 150,000 | Light Ends FP<60 | South China | Q1, 2018 | Click here |
| 250,000 | Dirty Petroleum Products | South China | Now | Click here |
| 13,000 | Chemicals | North China | Now | Click here |
| 8,000 | Chemicals | Shangdong | Now | Click here |
| 150,000 | Crude | Shangdong | Now | Click here |
| 12,000 | Chemicals | South China | Now | Click here |
| 250,000 | Dirty Petroleum Products | North China | Now | Click here |
| 300,000 | Dirty Petroleum Products | Gr. Ningbo | Now | Click here |
| 300,000 | Light Ends FP<60 | Yangtze River / East China | Now | Click here |
| 15,000 | Chemicals | Greater Ningbo | Now | Click here |
| 15,200 | Chemicals | South Korea | Now | Click here |
| 72,500 | Light Ends FP<60 | South Korea | Now | Click here |
| 14,100 | Chemicals | South Korea | Now | Click here |
| 90,000 | Light Ends FP<60 | Malaysia | Now | Click here |
| 34,800 | Vegoils / Chems | Malaysia | Now | Click here |
| 46,000 | Light Ends FP<60 | Singapore | Now | Click here |
| 300,000 | Dirty Petroleum Products | Singapore | Now | Click here |
| 500,000 | Light Ends FP<60/td> | Gr. Singapore | Now | Click here |
| 270,000 | Diesel / Gasoil | Gr. Singapore | Now | Click here |
| 255,000 | Dirty Petroleum Products | Gr. Singapore | Now | Click here |
| North America | ||||
| 70,000 bbl | Biodiesel | California USA | Now | Click here |
| 456,000 bbl | Various Products | Ohio USA | Now | Click here |
| 60,000 bbl | Chems | Pennsylvania USA | Now | Click here |
| 35,000 bbl | Light Ends FP<60 | New York USA | Now | Click here |
| 1,520,000 bbl | Dirty Petroleum Products | New York USA | Now | Click here |
| 2,710,000 bbl | Crude | New York USA | Now | Click here |
| 50,000 bbl | Chems | New Jersey USA | Now | Click here |
| 250,000 bbl | Diesel / Gasoil | New Jersey USA | Now | Click here |
| 24,000 bbl | Vegoils / Chemicals | Maryland USA | Now | Click here |
| 450,000 bbl | Dirty Petroleum Products | Maryland USA | Now | Click here |
| 280,000 bbl | Dirty Petroleum Products | Virginia, USA | Now | Click here |
| 200,000 bbl | Diesel / Gasoil | Virginia, USA | Now | Click here |
| 120,000 bbl | Various Products | South Carolina, USA | Now | Click here |
| 30,000 bbl | Diesel / Gasoil | North Carolina USA | Now | Click here |
| 85,000 bbl | Light Ends FP<60 | North Carolina USA | Now | Click here |
| 570,000 bbl | Various Products | Georgia USA | Now | Click here |
| 289,000 bbl | Vegoils / Chemicals | Georgia USA | Now | Click here |
| 20,000 bbl | Vegoils / Chemicals | Florida USA | Now | Click here |
| 200,000 bbl | Chemicals | Louisiana USA | Now | Click here |
| 50,000 bbl | Various Products | Louisiana USA | Q1, 2018 | Click here |
| 380,000 bbl | Various Products | Texas, USA | Now | Click here |
| 238,000 bbl | Dirty Petroleum Products | Texas, USA | Q1, 2018 | Click here |
| 660,000 bbl | Chemicals | Texas, USA | Now | Click here |
| Central & South America | ||||
| 350,000 bbl | Crude | Bahamas | Now | Click here |
| 190,000 bbl | Various Products | Puerto Rico | Now | Click here |
| 553,000 bbl | Light Ends FP<60 | Colombia (Caribbean) | Now | Click here |
| 7,500 bbl | Vegoils<60 | Colombia (Caribbean) | Now | Click here |
| 250,000 bbl | Dirty Petroleum Products | Panama (Atlantic) | Now | Click here |
| 9,000 | Dirty Petroleum Products | Argentina | Now | Click here |
| 10,000 | Vegoils / Chemicals | Argentina | Now | Click here |
