Cement News tagged under: oil
Sharp coal rally drives petcoke higher to widen discounts – new demand fears and OPEC+ agreement sent oil falling16 August 2021, Published under Cement NewsBy Brannvoll Aps, Denmark The euro is seen in the US$1.17-1.20 range with the US infrastructure package expected to support the dollar in the short-term. As forecast, inflation fears evaporated but the expected turn in commodities did not occur due to continued bottlenecks in the opening economies. Table 1: Prices at a glance Crude oil (US$/bbl) 69.25 Coal API2 – 4Q21 (US$) 132.00 API2 – Cal 2022 (U... |
Brent oil prices expected to average US$62/bbl in 202025 February 2020, Published under Cement NewsBrent oil is forecast to average US$62/bbl in 2020 on the back of voluntary (Saudi Arabia, Kuwait, UAE) and involuntary (Iran, Venezuela) declines in OPEC supply, according to a Bank of America (BofA) Global Research report. OPEC supply is expected to decline 1.2mbpd from the 4Q19 into the 4Q20, however, a roughly stable output is then seen through to 2025. The BofA report also projects Brent oil prices to average between US$50-70bbl from now until 2025. "As prices become more anchored arou... |
Key risks to near-term oil price06 June 2019, Published under Cement NewsGlobal oil demand is growing at its weakest rate since 2012 while global oil supply disruptions continue to be at their highest levels in almost 30 years, according to Bank of America Merrill Lynch (BoAML). Key risks to the oil price remain with US trade wars and tensions with Iran affecting demand and supply, respectively. In addition, the bank also highlights the “ultimate ultra-bearish scenario” where China relinquishes trade negotiations, ignores US sanctions and proceeds to purchase Ira... |
Are lower coal prices what the cement industry needs?29 April 2019, Published under Cement NewsThis week ICR takes a look at the downward trend in coal prices and discusses whether cement producers will benefit from the drop in prices or whether the cement sector should be looking more at sustainable long-term fuel options. Coal prices cool Morgan Stanley reports that April's data of Newcastle and Atlantic Basin prices has seen thermal coal retreat by 23-30 per cent YoY, as evidenced by the key contract between global mining company Glencore and Japan's Tohoku Electric Power, end... |
Geopolitics and tightening supply to impact oil prices in 2018-1918 May 2018, Published under Cement NewsGlobal oil supply and demand balances are expected to tighten over the next 18 months, driven by the continued collapse of Venezuelan output, according to Bank of America Merrill Lynch (BOAML). A collaboration between OPEC and Russia to set a floor on oil prices with a reduction of oil output cuts by these countries of 450,000bpd from 3Q18 to 4Q19 is also expected to play its part in squeezing availability. In addition, higher interest rates and a stronger US dollar are forecast provide near... |
ENERGY – OPEC consolidates oil while India shakes petcoke, coal high20 December 2017, Published under Cement NewsPrices at a glance Crude oil - bbl US$64.00 Coal API 4 - 1Q18 US$91.25 Coal API 4 - Cal2018 US$88.00 Petcoke USGC 4.5% 40HGI FOB US$82.00 USGC 4.5% 40HGI cf ARA US$100.50 USGC 6.5% 40HGI FOB US$72.50 USGC 6.5% 40HGI cf ARA US$91.00 In November the US dollar was supported by the US tax reform, which could see US firms repatriating profits. The lack of German government for... |
Falling crude oil challenges uptrend, China cuts coal capacity17 March 2017, Published under Cement NewsBy Frank O Brannvoll, Cimeurope sarl, Belgium Last month the US$/EUR trading range was set at €1.04-1.08 and has held within €1.05-1.075 at €1.0720. Other than the US Federal Reserve Bank raising its overnight rate by 0.25 per cent to one per cent, there is no other major news. The increase did not have an impact on the US$/EUR rate with the expected range going forward between €1.05-1.10. Crude oil Crude oil price developments can often be considered as a front runner for ov... |
Average oil price in 2017 to hover around US$61/bbl, gas at US$3.50/mBtu13 December 2016, Published under Cement NewsBrent oil is expected to average US$61/bbl in 2017, peaking at US$70/bbl during the US driving season while WTI’s average is forecast at around US$59/bbl, according to the latest report by Bank of America Merrill Lynch (BoAML). This follows last week’s OPEC announcement to cut crude production by 1.2Mbpd with non-OPEC producers supplying an extra 0.6Mbpd. “This joint curb is a first since 1998 and in our view marks a clear turning point. It will likely tighten global oil market balances a... |
Natural gas price to rise but thermal coal to fall in 201727 September 2016, Published under Cement NewsGlobal oil production fell in 2Q16 as the decline in no-OPEC fields is no longer offset by OPEC growth but is expected to remain largely unchanged in 2017, particularly has there has been no double-digit growth in new investments. Demand in 2017 is forecast to grow by 1.2mbd, resulting in a Brent price of US$61/bbl, according to Bank of America Merrill Lynch (BoAML). Natural gas prices fell in 2016 to US$2.30/mBtu on the back of muted demand and falling US output. However, going forward, B... |
BofAML forecasts 2H16 oil price recovery; downside risks prevail as OPEC meeting ends in acrimony14 December 2015, Published under Cement NewsBrent crude oil prices are expected see a recovery in the second half of next year, leading to average price of US$50/bbl in 2016, according to Bank of America Merrill Lynch (BofAML). However, the "deep sense of acrimony" that emerged from last Friday's OPEC meeting creates downside risks to BofAML's 2016 pricing assumptions, it cautions. BofAML highlighted that its expectations for next year "embed rational economic behaviour." The forecasts include relatively robust global oil demand grow... |