Oil Price Watch

[uls]

Trivia:

Light Louisiana Sweet (LLS) is a low viscosity (light) low sulphur (sweet) crude produced in the Gulf of Mexico

Mars is also produced in the GoM but it's thicker and has more sulphur (Mars is considered a medium sour crude)

So Mars blend is supposedly a lower quality crude so it trades at a discount to LLS (or we can say LLS trades at a premium to Mars)

But many US refiners can only process heavy crudes and because there's now less supply of heavy crudes (due to OPEC+ cuts and sanctions on Venezuela) the price gap between LLS and Mars has almost disappeared

(meaning Mars is becoming more expensive coz US refiners that import Venezuela's oil will have to switch to Mars or other alternatives)

[uls]

that's not really TRIVIAL if you think about it...

Coz the effects can reach us

heavy crudes are used to make diesel

when the feedstock becomes more expensive, products become more expensive

so don't expect the price of diesel to go down for now...

[uls]

may rollback

mas malaki rollback sa gas

[Monseratto]

[WallyWest]

Aww crap. Kapapafull tank ko pa lang...

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[akosidab]

may rollback

mas malaki rollback sa gas

The price gap between diesel and petrol is getting closer. Here in the province some stations has only 3peso difference.

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[erick_214]

Potek, bakit aq nagpa full tank!!!
Waaaaaa!!! Mali ang prediction kooooo!

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[kagalingan]

walley and erick "am i real", mga gaso ba kayo or desel?

[erick_214]

Gaso and diesel

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[uls]

Saudi Arabia raised the price of its heavy crude by 30 cents/barrel (for Asia)

[kagalingan]

Saudi Arabia raised the price of its heavy crude by 30 cents/barrel (for Asia)

ibig ba sabihin continous price increase for desel and rollback always sa gaso?

[uls]

ibig ba sabihin continous price increase for desel and rollback always sa gaso?

di naman continuous increase but i think ang price pressure sa diesel ay pataas hindi pababa

[kagalingan]

pero sa light distillates maganda ba pangitain sa gaso ko?

[uls]

pero sa light distillates maganda ba pangitain sa gaso ko?

as of Jan 28 Asia gasoline crack is still negative

-1.62 vs -2.03 previous

gasoline crack is the margin of gasoline to a barrel of brent

that means refiners are losing $1.62 on gasoline -- meaning there's still a glut

pero the crack spread is improving and can become positive soon

[erick_214]

Ilan na kaya ang ratio ng DIESEL VS GASOLINE engines

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[uls]

there's a lot of light crude out there but less heavy crude (specially now that Venezuela's crude oil is disappearing from the market)

light crude yields more light distillates like naphtha, gasoline

heavy crude yields more middle distillates like diesel, aviation kerosene, fuel oil

downward price pressure on gas

upward price pressure on diesel

[kagalingan]

3pesos na lang difference sa seaoil. Desel doon 39.something. Tapos yung gaso 91RON eh 42.10. No discount card needed. Patayan dito sa erod, parts of quezon ave to espana.

The rest of metro manila ang gaso 47, 48, 50. You need discount card para less 3 to 5 for gaso.

[erick_214]

If malapit kau sa Cainta, sa Felix ave kau magpa Gas, un 91 dun nasa P38.80 lang. Magkakatabi dun un PetroGazz, Metro Oil, Boss, Rephil at may isa pa. Hindi matapatan ng Big3 un mga small players sa area na yan.

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[Little Missy]

If malapit kau sa Cainta, sa Felix ave kau magpa Gas, un 91 dun nasa P38.80 lang. Magkakatabi dun un PetroGazz, Metro Oil, Boss, Rephil at may isa pa. Hindi matapatan ng Big3 un mga small players sa area na yan.

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Sa Antipolo din ang mumura eh but yeah i'll check these out thanks!

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[uls]

check out Dubai oil price

it's now higher than Brent

Dubai crude usually trades at a discount to Brent

--

Dubai crude is medium/heavy sour crude

proof that supply of medium/heavy crude is tight

OPEC cuts are mainly medium/heavy

Iran is medium/heavy, Venezuela is heavy