Geospatial Insight (GSI), a leading provider of global risk intelligence, has announced the integration of Energeo, experts in leveraging geospatial data and technology to identify rapid decarbonisation pathways, and low carbon technology deployment opportunities.
The long wind-down in timespreads at Cushing continued over the last few weeks with the January contract slipping into a shallow contango upon expiry earlier this week. That is reflective of the change in physical storage needs in the hub, inventories there having built a solid 7 million barrels since bottoming out in early November. In the last few weeks, several factors pulled in the same direction to help replenish Cushing levels, including the ramp-up of new midstream crude infrastructure bringing in additional volumes from Canada to the US Gulf, significant SPR releases in PADD-3, somewhat weak crude runs in PADD-2 (until recently), and even rising US onshore crude production.
ERDAS IMAGINE 2022 is now a couple of months old so it’s a good time to have a look at what’s new in this major release.
A detailed document covering all the information you need to know about the latest update to Hexagon’s ERDAS IMAGINE.
Prompt WTI timespreads, as in every corner of the market, took a pummelling late last week amid the huge sell-off in crude brought on by the emergence of the new coronavirus variant. While the plummet in flat price and structure was triggered by fears that the Omicron variant would drag on global oil demand, the move was exacerbated by low liquidity on the long weekend, selling pressures from hedging activity and the triggering of sell signals, and initially high speculative net length.
In the aftermath of COP26, global leaders and their nations set to work to meet historic pledges to significantly reduce emissions and reduce fossil fuel reliance. The UK has previously committed to reducing emissions by at least 78% by 2035 and be net-zero by 2050 – so how can we ensure these targets are achieved?
Prompt WTI timespreads went on another rollercoaster ride in the run up to the latest weekly EIA release, with initial bullish input coming from API data that showed another draw on total US crude inventories. Dec/Jan ultimately pulled back from price levels approaching an exceptionally high $1.70/bbl as the market closed on Tuesday 9th, after the API release.
There was something of a hiatus in the relentless run-up in crude futures on both sides of the Atlantic in early trading ahead of November contract expiry on Wednesday 20th, but prompt WTI timespreads (Dec/Jan) remain well-supported. With speculation high regarding energy shortages going into winter, the market has been trying to reconcile the likely path for crude balances in the weeks ahead with the current state of the physical market and its relevant indicators.
Browse our latest news and insights
Learn more about the experts behind the insights
Get in touch with our team today