The Obama administration late last week put out a final safety rule on moving flammable liquids by rail, a subject of concern with the growth in crude by rail. Critiques were plentiful on the high-stakes issue. From the green side, Sen. Maria Cantwell (D-Washington) blasted the new regs, done in concert with Canada, as “more of a status… Keep reading →
Some banks are sticking it out in commodities as several others exit the business amid onerous regulations and decreasing profitability. The banks that stick around – including Goldman Sachs – face less competition. [Bloomberg] Putin feels emboldened by the fact that major western oil companies remain committed to Russia despite the current souring of relations… Keep reading →
The writing has been on the wall since the disastrous train derailment last July near Lac-Megantic in Quebec and subsequent incidents involving the release of flammable liquids during railroad accidents. The issue of rail safety has also gotten a lot of press recently, as crude oil shipments by rail reportedly increased 400% since 2005. Now… Keep reading →
With pipeline infrastructure lagging the rapid increase in US crude oil production, railroads have been the preferred option for moving product to market, but a number of high-profile accidents involving crude oil tank cars are raising concerns. [New York Times] The recent UN Investor Summit on Climate Risk highlights the growth in sustainable investing and… Keep reading →
Citi’s commodity research team just released a densely-packed note that breaks down the US oil transportation system reorganization currently underway and models potential market impacts associated with shifting crude and product flow patterns. Global oil price benchmark crude West Texas Intermediate (WTI) traded at a slight premium to the world’s other major benchmark, Brent, for… Keep reading →
