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.
The satellite Earth Observation (EO) industry is evolving incredibly quickly, as new satellites are being planned and launched, and leading-edge ML-based analytics developed and applied to open up new capabilities and markets. Nothing exemplifies this trend better than the partnership between Geospatial Insight and BlackSky, which creates a step-change in the potential for our customers to receive near real-time geospatial intelligence. This partnership has not happened overnight – we have been working alongside BlackSky for the last 7 years as both companies’ capabilities have developed and matured. With the growing capabilities of the BlackSky constellation, this close partnership has now crystallised as we become part of their reseller network, enabling Geospatial Insight to distribute their imagery to our clients worldwide in the insurance, finance, utilities and defence sectors.
If you are looking for the best ERDAS IMAGINE training in the UK then you should come to Geospatial Insight. Our trainers’ extensive wealth of technical knowledge is gained from over 30 years’ experience delivering ERDAS IMAGINE training courses worldwide, providing technical support to the UK Hexagon Geospatial community, and using the software in anger every day to integrate image processing into the services we provide our clients across a multitude of sectors. These include insurance, finance, defence, government, disaster relief and engineering, giving Johnnie and Emily, the only certified ERDAS IMAGINE trainers in the UK, a wealth of experience in applications as well as technical wizardry. This, combined with their strong desire to share their knowledge to help users gain the most from their investment in both software and data, means our training courses continue to offer flexible, sustainable and tailored solutions to meet the requirements of all trainees.
WTI timespreads were propelled higher in the last few hours of trading on Friday amid speculation of tightening crude availability both in the US and globally in the coming weeks. US refiners are now contemplating a bullish oil demand forecast this winter which could add impetus to runs in the face of already low road fuel stocks and strong margins. That could contribute to a few more weeks of draws in crude inventory at Cushing and nationwide, albeit not at the pace that prevailed over the summer.
The stereo 3D viewing experience has always had some issues associated with it, with standard screens suffering from dim lighting and requiring the use of 3D glasses. More recently, fewer graphics card vendors are supporting traditional stereo displays. Vision Engineering, a global optical and digital innovation and manufacturing company, have now changed the game. CONTOUR is the future of glasses-free 3D stereoscopic displays, designed specifically for GIS professionals.
After the collapse of Brumadinho Dam, the mining industry has been under intense scrutiny. Although the safety and infrastructure stability of tailings dams has always been extremely important, now, with the world watching, it is more crucial than ever that dam monitoring programmes are put in place.
MotionMonitor-TSF, our latest service specifically designed to monitor ground movements in and around mine tailing dams, enables Tailing Storage Facility (TSF) managers and ESG compliance officers to monitor key TSF locations and provides an early warning of potential failure, therefore minimising financial and environmental impact as a direct consequence.
The European Space Agency (ESA) launched their ‘Port of the Future’ initiative to address a number ecosystem challenges within ports across the world, whilst also utilising space-based data and services. ESA funded a total of nine studies, providing a solution to one of four key themes: environmental sustainability and energy efficiency, digitalisation, infrastructure improvement and safety and security services.
The new Hexagon Geospatial CHEST Agreement for academic and research institutions in the UK and Ireland is ready for renewal and due to be in place this month. It has been great working with Hexagon and the CHEST teams again to review the offering and to work out how we can tailor the bundles to meet the changing needs of universities, colleges and research institutions across our region.