Friday, January 3, 2020
Energy, Petrochemicals and Plastics 45
1 Oil Price Fundamental Daily Forecast
https://www.fxempire.com/forecasts/article/oil-price-fundamental-daily-forecast-need-attack-on-supply-to-sustain-upside-momentum-623803
U.S. West Texas Intermediate and international benchmark Brent crude oil futures hit multi-month highs on Friday as traders reacted to an escalation in Middle East tensions. The catalyst behind the moves is the news that an Iranian military commander was killed in a Baghdad airstrike.
2 Natural Gas Price Fundamental Daily Forecast
https://www.fxempire.com/forecasts/article/natural-gas-price-fundamental-daily-forecast-close-over-2-122-could-trigger-start-of-counter-trend-rally-623789
Looking ahead to today’s EIA weekly storage report, traders are estimating a 65 billion cubic feet draw. Given the prolonged move down, a close over $2.122 will form a potentially bullish closing price reversal bottom. The move won’t change the main trend to up, but it will indicate the buying is greater than the selling at current price levels.
3 Oil Up After US Strike Kills Top Iran General
https://www.rigzone.com/news/wire/oil_up_after_us_strike_kills_top_iran_general-03-jan-2020-160705-article/
Oil jumped close to $70 a barrel after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region.
4 ‘A more dangerous world:’ U.S. killing of top Iran general triggers global alarm
https://www.cbc.ca/news/world/iran-general-killing-global-alarm-1.5413788
Global powers are warning the world has become a more dangerous place after U.S. President Donald Trump ordered the killing of Iran’s top general and are urging restraint on all sides.
Iran has vowed “harsh retaliation” for a U.S. airstrike near Baghdad’s airport that killed Gen. Qassim Soleimani, head of Iran’s elite Quds Force and the architect of its interventions across the Middle East, as tensions soared in the wake of the targeted killing.
5 Here’s Why Stocks Plunged, Oil Prices Surged After U.S. Airstrike Kills Top Iranian General
https://www.forbes.com/sites/sergeiklebnikov/2020/01/03/heres-why-stocks-plunged-oil-prices-surged-after-us-airstrike-kills-irans-top-military-leader/
Global stock markets pulled back from their strong start to the new year and oil prices surged on Friday, following an overnight U.S. airstrike that killed Iran’s most senior general and significantly inflamed tensions in the Middle East.
6 Oil edges up on Mideast tensions, trade optimism
https://www.reuters.com/article/us-global-oil-idUSKBN1Z102T
Brent crude futures LCOc1 settled at $66.25 a barrel, gaining 25 cents. U.S. West Texas Intermediate (WTI) crude CLc1 settled at $61.18, rising 12 cents.
7 Experts Offer a Downstream Preview for 2020
https://www.rigzone.com/news/experts_offer_a_downstream_preview_for_2020-02-jan-2020-160685-article/
Earlier this week, Rigzone used six adjectives to recall major trends for 2019 in the downstream oil and gas industry. Based on additional comments from the same panelists interviewed for the recap article, three letters should command much of the downstream sector’s attention in 2020
8 The Top 10 RBN Energy Prognostications for 2020
https://rbnenergy.com/the-top-10-rbn-energy-prognostications-for-2020-year-of-the-rat-abandoning-the-sinking-ship
Years ago the RBN team turned to the Chinese zodiac to help us better comprehend energy markets. Back then the calendar had proud animals like the horse and rooster to work with. In 2018, we were still in good shape with Year of the Dog, and we asked “Who let the dogs out?” But last year we had to make do with Year of the Pig. And 2020?
9 Exxon expects gain of $3.4 billion-$3.6 billion from Norway asset sale to boost results
https://www.reuters.com/article/us-exxon-mobil-outlook-idUSKBN1Z21DR
Exxon Mobil Corp expects a gain of $3.4 billion to $3.6 billion from the sale of its Norwegian oil and gas production assets to significantly lift results for the fourth quarter, according to a regulatory filing on Friday.
10 U.S. shale producers to tap brakes in 2020 after years of rapid growth
https://www.reuters.com/article/us-usa-shale-outlook-idUSKBN1Z108U
Vastly slower U.S. oil growth this year and the prospect of a plateau for the world’s top oil producer have signaled a new and unfamiliar era of self-restraint for the go-go shale industry.
11 Lacking customers and suppliers, Cape Breton natural gas project faces uncertain future
https://www.cbc.ca/news/canada/nova-scotia/bear-head-lng-construction-permit-extension-1.5411707
A natural gas terminal project in Point Tupper, N.S., that was originally supposed to come online in 2019 still doesn’t have a facility or any signed contracts with suppliers or customers, but the company behind the project is confident about its prospects.
12 Mitsubishi to build two new LNG-fuelled ferries
https://www.lngindustry.com/small-scale-lng/03012020/mitsubishi-to-build-two-new-lng-fuelled-ferries/
Mitsubishi Shipbuilding Co. Ltd has announced that it has concluded a contract with Mitsui O.S.K. Lines (MOL) to build two new LNG-fuelled ferries, the first such project in Japan.
13 EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia – Today in Energy
https://www.eia.gov/todayinenergy/detail.php?id=42342
In its newly released International Energy Outlook 2019 (IEO2019) Reference case, the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries that are not in the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, particularly in Asia.
14 With fates intertwined, Mexico and Pemex face downgrade risk in 2020
https://www.reuters.com/article/us-mexico-pemex-bonds-idUSKBN1Z20CD
Mexico threw troubled state oil company Pemex a lifeline in 2019 to stop $80 billion in bonds held by investors worldwide being labeled junk by credit rating agencies. Now, investors worry that the state itself is a risk for Pemex.
15 Ineos Styrolution, Agilyx advance PS chemical recycling plant in Illinois
https://www.plasticstoday.com/recycling/ineos-styrolution-agilyx-advance-ps-chemical-recycling-plant-illinois/91586652462144
Styrenics supplier Ineos Styrolution and Agilyx, a leader in converting post-consumer plastics to low-carbon fuels, chemicals, and plastics, are advancing the development of a polystyrene (PS) chemical recycling facility in Channahon, Illinois. The facility will be capable of processing up to 100 tons per day of post-consumer polystyrene and converting it into a styrene monomer that will go into the manufacturing of new polystyrene products.
