Spot Market News
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Gulf Coast crude oils strengthened on the spot market during the three-day rollover period characterized by below-normal volume and erratic pricing.
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French wheat exporters face tougher competition from the Black Sea this year as crops in Russia and Ukraine recover from drought, erasing the premium paid for Paris-traded futures over the global benchmark in Chicago.
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Oil-tanker owners will struggle to retain crews and maintain ships after losing the most money in four decades, according to the industry’s biggest trade group.
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Gulf Coast crudes weakened on the spot market as increasing supplies of light, sweet domestic oils made their way to Texas refineries.
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Competitive Power Ventures Holdings LLC said its new 800-megawatts plant in Southern California began providing electricity on the spot market within a week of starting up.
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MEMC Electronic Materials Inc.’s SunEdison LLC unit is seeking funding from the World Bank’s private-sector financing arm to build a 50-megawatt solar plant in Chile that plans to sell power at commercial rates.
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Ethanol strengthened against gasoline for the first time in four days as the summer driving season neared while production costs rose.
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Gasoline in Los Angeles on the spot market weakened for a seventh day while jet fuel in the city strengthened as the main producer shut a crude unit yesterday.
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Crudes from the Gulf of Mexico strengthened on the spot market as crack spreads reached the highest level in more than three weeks, prompting refiners to process more oil.
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Canadian heavy oil prices weakened in light trading on the spot market on the last day of index trading for June deliveries.
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