Scammers Are Exposed On This Site

Wednesday, 12 December 2018

Record-high U.S. crude oil production contributes to lower forecast prices (12/12/2018)

In the December 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) decreased its Brent spot price forecast to $71 per barrel (b) in 2018 and $61/b in 2019, down $2/b and $11/b, respectively, from last month. EIA expects that West Texas Intermediate (WTI) crude oil prices will average about $7/b lower than Brent prices next year. In a continuing price decline that began in mid-October, Brent spot prices fell from $71/b on November 1 to $58/b on November 30 (Figure 1), averaging $65/b for the month, down $16/b from October. ... More »

Thursday, 6 December 2018

Crude oil imports from Canada by rail now exceed rail movements from Bakken (12/6/2018)

Between 2010 and 2017, most of the crude oil moved by rail in the United States came from the Midwest (Petroleum Administration for Defense District, or PADD, 2), driven by production out of the Bakken region and the price differential between Brent and West Texas Intermediate (WTI) crude oils. Since 2017, however, crude oil imports by rail from Canada have increased and, in recent months, exceeded volumes originating from PADD 2. The recent increase in Canadian crude oil imports by rail is driven by growing Canadian production combined with pipeline constraints out of Canada. A steep price discount of Western Canadian Select (WCS) to WTI is associated with these developments. WCS crude oil is typically priced lower than other crude oils because of differences in crude oil quality, although increasing production of WCS and pipeline capacity constraints in Western Canada have resulted in even lower prices of WCS compared with Brent and WTI. ... More »

Wednesday, 28 November 2018

EIA study concludes that changes at U.S. refineries are not responsible for increasing premium-to-regular gasoline retail price spread (11/28/2018)

Between 2010 and 2017, the U.S. average retail price difference between premium gasoline and regular gasoline doubled, from approximately $0.25 per gallon (gal) to $0.50/gal (Figure 1). However, in the 15 years before that period, from 1995 and 2010, the U.S. average premium to regular price spread increased $0.05/gal. The more recent price spread may be the result of a change in U.S. refinery operations or retail gasoline pricing dynamics. ... More »

Wednesday, 21 November 2018

Recent changes introduced in U.S. and Middle East crude oil futures markets (11/21/2018)

Several changes to crude oil futures markets this year have expanded the scope of available contracts for market participants. Two new light, sweet crude oil contracts for delivery in Houston, Texas, began trading recently, expanding hedging and trading opportunities for Permian producers, U.S. Gulf Coast refiners, and foreign purchasers of U.S. crude oil. Also, Saudi Aramco, Saudi Arabia's state-owned oil company, began using the Dubai Mercantile Exchange's Oman contract for determining a portion of its Asian official selling price (OSP). Although not expected to disrupt the roles of West Texas Intermediate (WTI) at Cushing, Oklahoma, or North Sea Brent as benchmarks, the new contracts as well as a major oil producer now using the Oman contract could alter current financial trading for crude oil. ... More »

Thursday, 15 November 2018

While current U.S. Gulf Coast diesel crack spreads remain high, gasoline crack spreads virtually disappear (11/15/2018)

Gasoline crack spreads (the price difference between crude oil and gasoline) at key refining locations across the globe have fallen recently, while diesel crack spreads have remained relatively high. In the United States, gasoline crack spreads are declining not only because demand for gasoline has fallen more rapidly than what is seasonally normal, but inventories have also remained high. The crack spreads in the Amsterdam-Rotterdam-Antwerp (ARA) region of Europe and in Singapore, two global refining and distribution hubs, suggest markets in these regions are experiencing similar trends (Figure 1). ... More »

Wednesday, 7 November 2018

Global inventory builds put downward pressure on crude oil prices (11/7/2018)

In the November 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) decreased its Brent spot price forecast from last month to $73 per barrel (b) in 2018, down $1/b, and $72/b in 2019, down $3/b. EIA expects that West Texas Intermediate (WTI) crude oil prices will average about $7/b lower than Brent prices next year. Brent crude oil spot prices averaged $81/b in October, up $2/b from September. Despite the increase in monthly average prices, Brent spot prices declined from $85/b on October 1 to $75/b on October 31 (Figure 1). ... More »

The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.