BoeingBoy
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- Nov 9, 2003
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As those of you who follow these updates undoubtedly know, crude and jet fuel prices jumped on news of the BP pipeline problem in Alaska, then retreated on news that as much as 50% of the flow would likely be restored. The peak was Monday of the week covered by this update, with prices declining thru the remainder of that week and this.
You'll note, however, that west coast prices (as illustrated by Los Angeles spot prices) remain quite a bit higher relative to NY harbor and Gulf coast prices than existed before the BP news. As discussed last week, this is almost entirely due to the crude from Prudhoe Bay going almost entirely to west coast refineries. Consequently, any decrease in flow thru the Alaska pipeline will affect only those prices. Platt's has an article on the west coast situation and possible alternative supplies on their Home Page. See the link for "Feature: Prudhoe Bay Outage".
One change to note - since I'm only doing jet fuel I'll start including Rotterdam and Singapore spot prices as reported by the EIA.
Spot prices on 8/11/06:
NY Harbor jet - $2.1375
Gulf Coast jet - $2.0850
Los Angeles jet - $2.2025
Rotterdam jet - $2.1951
Singapore jet - $2.1238
WTI Cushing crude - $74.38/bbl
Bloomberg quotes WTI-Cushing @ $71.89 as of the close on 8/16/06
Regional spot prices on 8/11/06 from our friends at Platt's:
Europe & CIS - $2.2020
North America - $2.1390
Asia & Oceania - $2.1630
Middle East & Africa - $2.1130
Latin & Central America - $2.1070
The same chart as last week, moved for convenience:
View attachment 5100
Although August average spot prices won't be included till the first EIA report in September, here are the averages thru 8/15/06:
NY Harbor jet - $2.2174
Gulf Coast jet - $2.1721
Los Angeles jet - $2.2854
Rotterdam jet - $2.2212
Singapore jet - $2.1358
Jim
You'll note, however, that west coast prices (as illustrated by Los Angeles spot prices) remain quite a bit higher relative to NY harbor and Gulf coast prices than existed before the BP news. As discussed last week, this is almost entirely due to the crude from Prudhoe Bay going almost entirely to west coast refineries. Consequently, any decrease in flow thru the Alaska pipeline will affect only those prices. Platt's has an article on the west coast situation and possible alternative supplies on their Home Page. See the link for "Feature: Prudhoe Bay Outage".
One change to note - since I'm only doing jet fuel I'll start including Rotterdam and Singapore spot prices as reported by the EIA.
Spot prices on 8/11/06:
NY Harbor jet - $2.1375
Gulf Coast jet - $2.0850
Los Angeles jet - $2.2025
Rotterdam jet - $2.1951
Singapore jet - $2.1238
WTI Cushing crude - $74.38/bbl
Bloomberg quotes WTI-Cushing @ $71.89 as of the close on 8/16/06
Regional spot prices on 8/11/06 from our friends at Platt's:
Europe & CIS - $2.2020
North America - $2.1390
Asia & Oceania - $2.1630
Middle East & Africa - $2.1130
Latin & Central America - $2.1070
The same chart as last week, moved for convenience:
View attachment 5100
Although August average spot prices won't be included till the first EIA report in September, here are the averages thru 8/15/06:
NY Harbor jet - $2.2174
Gulf Coast jet - $2.1721
Los Angeles jet - $2.2854
Rotterdam jet - $2.2212
Singapore jet - $2.1358
Jim
