Highlights Increasing demand amid COVID-19 economic recovery will keep supply tight Upside seen in automotive, travel and construction industries Dow Chemical expects its facilities to be in “strong operating rate territory” for the rest of 2021, but increasing demand amid economic recovery from the coronavirus
Highlights Coal and renewables revenue down 19% on year Expected volumes growth of 6% in 2021 Houston — Union Pacific faced a challenging first quarter, aided by a decline in coal revenues and volumes, but the railroad expects improved demand and growth as the year
Highlights IMF, IIF lower 2021 Gulf fiscal breakeven oil prices Saudi OPEC+ policy seen closer to Russia’s on lower breakevens Higher VAT, public spending cuts support drop in Saudi breakevens Dubai — Lower fiscal oil breakeven prices needed to balance Gulf budgets are expected to
Highlights Shell endorses LNG amid criticism of fuel Hydrogen-powered fuel cells could be key to net-zero London — Fuel cells will be a key instrument in decarbonizing the shipping sector, a Shell official said April 22 at an industry event. Not registered? Receive daily email
Highlights End users avoiding prompt lots as forward prices seen lower Saudi May propane CP seen between $460/mt-$500/mt Butane May CP seen $20-$30/mt below propane CP Philippines demand hit by raging COVID-19 pandemic Singapore — LPG buyers in Southeast Asia are bracing for lower Saudi
Highlights Push for biodiesel; limited production recovery seen in 2021 Tight inventories fuel speculation on vegoil prices Vegoil market volatility to persist longer-than-expected New Delhi — The global vegetable oils and fats industry has seen the sharpest inflation of all the agricultural commodities in the
Highlights East-West spread at near two-month low of $11.75/mt Asia’s steam cracker turnaround season weighs on naphtha demand Competitive LPG prices further pressure naphtha prices Singapore — Europe to Asia naphtha arbitrage volumes have thinned in April due to poor arbitrage economics as the naphtha
Singapore — Asian feed buyers are facing heightened feed costs in 2021, resulting in a slower uptake of corn amid lower production, while grappling with poor demand brought on by animal disease and consumer demand not returning to pre-COVID levels despite governments gradually relaxing restrictions.
Highlights Net effect of tax plan less certain Quarterly earnings up sharply on year Houston — The Biden administration’s infrastructure and clean energy plans offer significant opportunities for NextEra Energy, but it is too early to determine how Biden’s tax plans might affect the company,
Highlights Cash basis trades at 18 cent discount in April Permian production dips below 11.6 Bcf/d Texas gas demand at record high this month Denver — Cash basis at Waha is trading near historic highs this month as production weakness in the Permian Basin and