Free Trial

MNI Commodity Weekly: Infrastructure Projects and Sanctions Set to Alter Gulf Coast Refinery Operations

  • Infrastructure Projects and Sanctions Set to Alter Gulf Coast Refinery Operations: 2024 could be a year of adjustment for US Gulf Coast refiners, as new North American infrastructure projects and a looming return to an embargo of Venezuelan crude look to siphon away heavy sour crude supplies.
  • Oil Markets: Oil markets have eased back after breaking through the previous range high as tighter supply from Middle East related conflict are set against weak China data and limited OPEC+ production cut commitment.
  • Gas Markets: European natural gas prices climbed this week, supported by heightened geopolitical tensions in the Middle East and forecasts for slightly cooler weather. Asian LNG is also tracking gains this week, after lower prices have encouraged LNG spot purchases in the region. US natgas prices have pulled back sharply this week, amid recovering production, below-norm demand and an outage at the Freeport LNG export plant.

Full piece here:

MNI Commodity Weekly - Infrastructure Projects and Sanctions Set to Alter Gulf Coast Refinery Operations.pdf

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.