September 17, 2009
U.S. Fuel Prices Now Tied to Global Refining Output, According to OPIS
WALL, N.J.--(BUSINESS WIRE)--More than thirty separate countries - on five of seven continents -supplied gasoline to the U.S. this summer, and that number will expand further in future weeks and months.
Just this week, Oil Price Information Service (OPIS: http://www.opisnet.com) confirmed with shipping sources that the huge export refinery in Jamnagar, India will send more than 1-million barrels of gasoline and blendstock to the U.S. in October. Although U.S. refined fuel prices have slumped since late August, and U.S. refinery profits have narrowed, there is currently a surplus of gasoline and other light fuels in Asia. Surplus refining production in Asia, South America, Europe, and even Africa, has combined with aggressive freight rates to create the most brisk import/export trade ever witnessed in the petroleum supply business.
The Indian imports should show up when July data is published by the Energy Information Administration (EIA). Extensive import data recently published showed June gasoline and gasoline components’ imports from 31 countries, including traditional export refineries in Canada, France, Spain, Venezuela, and Russia, but also little known source countries as diverse as Belarus, Latvia, South Korea, Taiwan, Ecuador, Nigeria, Peru, and even Libya.
This continuing explosion in imports, and in some cases U.S. exports, will be comprehensively covered at this year’s 11th Annual OPIS National Supply Summit, Oct. 18-20 at the Lake Las Vegas Resort, NV. (http://www.opisnet.com/supply). EIA top analyst Joanne Shore presents a look at how the much busier inflow/outflow of products may change traditional relationships between gas, diesel, and crude, and also impact profitability for major oil companies like BP, Chevron, ExxonMobil, Shell and ConocoPhillips as well as independent refiners such as Alon, CVR, Frontier, Holly, Marathon, Murphy, Valero and Tesoro.
But it’s not just physical oil movement that will determine the likely price trajectory through 2010. Louis Capital Markets Chief Economist Edward Morse examines the factors that often lurk beneath the surface of paper trading for crude and products. And United Energy ICAP President Walter Zimmerman gives his exclusive forecast on how the tug-of-war between inflation and deflation may influence trends through the remainder of 2009 and all of 2010.
Other speakers include Tom Barney, Marathon; Joe Petrowski, Gulf Oil; Terry Hammer, Astra Oil; and Otavio Cintra, Petrobras Americas.
View the list of registered companies and full agenda: http://www.opisnet.com/supply/attendees.html.
Oil Price Information Service is one of the world's most comprehensive sources for petroleum pricing and news information. OPIS receives more than 70,000 daily rack and spot prices for gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, propane, feedstocks, resid and kerosene. OPIS spot gasoline, diesel and jet fuel prices are heavily indexed as key benchmarks in national supply markets. OPIS also receives daily retail gasoline and diesel prices for more than 125,000 retail outlets in the U.S. and Canada. Newsletters, educational seminars, fax and email services are available for petroleum marketers, jobbers, fleets, oil executives and investment companies. For more information visit: http://www.opisnet.com/supply.
September 11, 2009
CME Group Announces the Launch of New Petroleum Products and Natural Gas Liquids Futures Contracts
CHICAGO – CME Group Inc., the world’s largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for eight new petroleum products and nine natural gas liquids futures contracts. Trading will be available on the New York trading floor and clearing services will be available through CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. Trading and clearing are scheduled to begin on September 20 for trade date September 21. These contracts will be listed by and subject to the rules and regulations of NYMEX.
The swap futures contracts and commodity codes will be:
- Gulf Coast gasoline (OPIS) (4E)
- Gulf Coast gasoline (OPIS) vs. RBOB gasoline spread (4F)
- Gulf Coast jet (OPIS) (R9)
- Gulf Coast jet (OPIS) vs. heating oil spread (W7)
- Gulf Coast ULSD (OPIS) (5P)
- Gulf Coast ULSD (OPIS) vs. heating oil spread (5Q)
- Gulf Coast heating oil (OPIS) (7O)
- Gulf Coast heating oil (OPIS) vs. heating oil spread (7W)
- Mont Belvieu natural gasoline five decimals (OPIS) (7Q)
- Mont Belvieu iso-butane five decimals (OPIS) (8I)
- Conway propane five decimals (OPIS) (8K)
- Conway natural gasoline (OPIS) (8L)
- Conway normal butane (OPIS) (8M)
- Mont Belvieu LDH propane (OPIS) BALMO (8O)
- Mont Belvieu natural gasoline (OPIS) BALMO (R0)
- Mont Belvieu ethane (OPIS) BALMO (8C)
- Mont Belvieu normal butane (OPIS) BALMO (8J)
Expanding our suite of NGL and petroleum products based on OPIS pricing will provide additional hedging opportunities for this marketplace.
The first listed month will be the October 2009 contract.
The BALMO contracts will be listed for one month and the following month for 10 business days prior to the start of the contract month. All other contracts will be listed for 36 consecutive months.
For more information please visit www.cmegroup.com/clearport .
June 18, 2009
OPIS Teams with GlobalView to Deliver OPIS Spot Ticker Data to MarketView Customers
CHICAGO, IL and GAITHERSBURG, MD – GlobalView, a leading provider of energy data management solutions, announced along with Oil Price Information Service (OPIS), that it will be the first data provider to deliver OPIS Spot Ticker data through its award-winning MarketView™ solution.
MarketView is a fully customizable, web-based solution that provides a variety of ways to monitor and analyze real-time energy market data and historical prices as well as news and proprietary data. GlobalView’s customers can now apply MarketView’s advanced charting capabilities, moving average studies, and other powerful tools to analyze OPIS Spot Ticker Cash Price and Basis Differential data which updates in real-time throughout the day. In addition, MarketView provides an archive of OPIS fixed page deal logs that currently holds more than three months of data and will continue to grow.
The OPIS Spot Ticker allows you to assess the value of all grades of gasoline, diesel and jet fuel in real-time as they trade, in addition to mid-day ethanol spot prices. This data can be combined with the numerous other data sets within MarketView including real-time updates from NYMEX/CME Globex, ICE and CBOT, making it a valuable tool for marketers, buyers, traders and brokers.
GlobalView continues to work closely with OPIS to help its clients stay ahead of their competitors in today’s volatile U.S. gasoline and distillate markets. In addition to OPIS Spot Ticker, GlobalView has recently added the monthly OPIS Swaps Settlement Report Data to its comprehensive data management solution.
OPIS is the world's most comprehensive source for petroleum pricing and news information and has offices in Wall, NJ; Gaithersburg, MD; St. Paul, MN; Sweden and Singapore. Every day, OPIS publishes spot prices for all refined products, more than 30,000 wholesale gasoline and diesel prices and more than 110,000 retail fuel prices. With a staff of over 25 IT professionals, OPIS is a leader in creating useful applications for businesses and consumers to manage their fuel costs. Visit www.opisnet.com for more information.
GlobalView is a leading provider of innovative energy data management solutions that deliver real-time, deep historical and customer-proprietary data. GlobalView’s award-winning MarketView solution allows users to access a comprehensive collection of global energy and commodity market data, including futures, energy exchanges, and broker data. GlobalView understands that energy firms depend on reliable and timely energy information to make critical decisions. From front to back office, GlobalView’s data management solutions are designed to meet all of a firm’s needs for a completely integrated energy market analysis system. With offices in Chicago, Houston, New York, London and Singapore, GlobalView provides prompt and comprehensive support to customers around the world. For additional information on MarketView and other GlobalView solutions, please visit www.gvsi.com.
April 6, 2009
NACS and OPIS Announce Petroleum Data and Information Partnership
ALEXANDRIA, VA and GAITHERSBURG, MD — NACS and the Oil Price Information Service (OPIS) have announced a partnership agreement in which OPIS will provide access and usage of its renowned motor fuels data as well as content and speakers at three of NACS’ largest events.
Under terms of the initial three-year agreement, OPIS will develop a fuels-related workshop track at the annual NACS Show and a general session presentation at the NACS State of the Industry Summit, as well as content support for the technology-focused NACStech. The agreement also provides NACS with exclusive rights to republish information and analysis from the OPIS Retail Year in Review & Profit Outlook in the annual NACS State of the Industry Report and to incorporate OPIS’ weekly and monthly Retail Fuel Watch data in other NACS media.
“The data and information partnership makes perfect sense for our organizations and for our industry,” said NACS President and CEO Hank Armour. “NACS is the industry’s leading advocate on motor fuels policy and represents 80 percent of the country’s retail fuel sales. OPIS delivers unmatched retail and wholesale petroleum data and analytics. This agreement formalizes our existing relationships and solidifies our role in delivering world-class events and analysis of the half-trillion dollar retail petroleum industry.”
“We are excited to work with NACS in bringing quality fuels content to the convenience and petroleum retailing industry,” said OPIS President Brian Crotty. “OPIS is proud to partner with NACS, a clear leader in providing convenience and petroleum retailers with vital market intelligence and education.”
Founded in 1961 as the National Association of Convenience Stores, NACS is the international association for convenience and petroleum retailing, representing more than 2,200 retail and 1,800 supplier member companies. The U.S. convenience store industry, with approximately 145,000 stores across the country, posted $577 billion in total sales in 2007, with $408 billion in motor fuels sales.
Oil Price Information Service (OPIS) is the world’s most comprehensive source for petroleum pricing and news information with offices in the U.S., Europe and Singapore. OPIS is the most widely accepted U.S. fuel price benchmark for supply contracts and competitive positioning. OPIS thoroughly covers pricing, analysis and news for gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, propane, feedstocks, resid, and kerosene. Through its subsidiary, Axxis Software, it also provides leading-edge software solutions for petroleum marketers looking to automate price collection, data storage and repricing of dealer and commercial accounts. Visit www.opisnet.com or call (888) 301-2645 for more information.
August 27, 2008
OPIS Launches "iGasUp" iPhone App to Help Consumers Shop for Fuel
Oil Price Information Service (OPIS), the nation’s leading supplier of retail gasoline and diesel fuel pricing information, has launched an innovative new service on the iPhone that will help millions of users shop for the cheapest fuel.
“The iPhone changes the game for consumers when shopping for the best prices on goods and services. The immediacy of being able to use the iPhone to perform targeted internet queries anywhere allows people to optimize their purchasing dollar,” said Michael Sinsky, CIO, OPIS.
Users needing to fill-up simply touch the iGasUp icon on their iPhone and the phone’s GPS system locates their position and returns the 10 cheapest fueling stations in the area. The actual prices are displayed in low-to-high order, along with the brand and address.
“This is a perfect marriage between data and technology that will allow consumers to gain more control over their fueling costs,” said Fred Rozell, Director of Retail Pricing for OPIS.
If a customer is planning on filling-up in another location, they have the option of entering in a zip code and the phone will return the 10 cheapest fueling stations in that particular area.
Customers have the option to pre-select their fuel search criteria: Regular Unleaded Gasoline, Premium Unleaded
or Diesel.
OPIS is updating the iGasUp application to allow users to map to the station of their choice. The update will be released within the next 10 days, Rozell says.
With fueling costs at historically high levels, it is expected that iGasUp will be a popular download on the App Store, Rozell said. Go here for details on the new iGasUp application.
August 5, 2008
OPIS Introduces New Calendar-Day Rack Average
OPIS has just introduced a new rack benchmark pricing average that enables fuel buyers and sellers to capture in a single number a complete snapshot of the entire day's rack price changes - 12:00 a.m. (midnight) - 11:59 p.m.
Called the "OPIS Calendar-Day Average" the new pricing data point provides a comprehensive pricing summary of same-day rack price averages for the nearly 400 wholesale cities where gasoline and diesel fuel prices are reported by OPIS.
The OPIS Calendar-Day Average made its debut August 1, 2008.
The critical point that OPIS makes in unveiling the new price is that it includes price changes made after 6:00 p.m., which helps customers more efficiently balance the cost of their product with sales prices quoted for new or existing downstream business.
The new Calendar-Day Average benchmark is in addition to the already existing OPIS Contract Average and the OPIS Closing Average, key pricing snapshots that many OPIS customers already use as market standards for buying and selling fuel.
Market volatility continues to reshape the way wholesale business is being transacted and the manner in which product is being priced. The new OPIS Calendar-Day Average meets the critical need of customers who want to be able to capture 6:00 p.m. prices in the same day, and not have to wait until the contract average of the next day to price out product.
"This new data set was requested by our customers in response to increase wholesale price volatility," said OPIS President Brian Crotty. "We are delighted to be able to provide this information for their benefit."
In a letter to customers announcing the introduction of the new Calendar-Day Average, OPIS pointed out that the new price will be easily integrated into existing customer pricing formats. Customers will have the option of receiving the new average. They may elect to change or customize their current rack pricing file to accommodate the latest OPIS benchmark number.
OPIS customers wishing to receive this new benchmark should simply contact their customer service representatives to discuss the new average and how they would like to receive it, the OPIS announcement said.
June 10, 2008
Hertz to Launch Refueling Program Using OPIS Data
Hertz will soon launch a Refueling Program it says will remove the "hassle factor" associated with car rentals while assuring average or lower pump prices for customers.
The car rental giant will make two new refueling options that will incorporate OPIS fuel prices available as of July 1.
Under the Fuel & Service Charge (FSC) option, customers won't have to refuel before returning a car. Hertz will refuel the vehicle at a per-gallon cost based upon OPIS fuel prices, plus a one-time refueling fee of $6.99.
Under a separate Fuel Purchase Option (FPO), the customer agrees to purchase a tank of gas at the outset of the rental at a cost based on OPIS pricing minus a discount of about $0.15 per gallon. Customers who prefer to refuel the vehicle on their own can still do so.
The FSC and FPO rates are based on geographical OPIS-related averages in the area where the car is returned, and will be adjusted weekly by Hertz management to reflect local pricing. Customers who choose one of the two options won't pay more than local refueling rates, Hertz says.
"Research indicates that rental car clients want a speedier, more efficient return process that eliminates time-consuming and costly refueling procedures," said Mark P. Frissora, Hertz's chief executive officer.
The program will apply at all corporate and participating licensee airport and off-airport locations in the U.S., Canada, Puerto Rico and St. Thomas.
Hertz is the world's largest general use car rental brand, operating about 8,100 locations in 147 countries worldwide.
Febuary 5, 2007
Mapquest Offers New Gas Search Website and Cell Phone Service
Motorists using MapQuest to reach their destinations can now also check the price of gasoline or diesel along their route under a new service the internet giant unveiled last week.
The new MapQuest site uses Oil Price Information Services' (OPIS) database of more than 100,000 retail fuel prices to allow customers to enter their zip code and view a map showing the locations of nearby gasoline stations. Search results can be organized by price, gasoline or diesel grade, brand, distance from location and includes listings for alternative fuels. This spring, MapQuest will allow customers to access this data via cell phones, providing directions to stations while motorists are en route.
MapQuest joins AAA, Microsoft (MSN autos) and a host of other web and GPS navigation companies like Garmin to use OPIS retail gasoline and diesel prices to establish services allowing motorists to better shop for fuel.
"We are excited that MapQuest has recognized the quality of our station list and prices in selecting us to offer this useful service to consumers," said Fred Rozell, Director of Retail Pricing for OPIS. "The use of our retail prices in consumer applications only further benefits our petroleum marketing customers as their stations and prices are viewed by more consumers, adding to their volumes," he added, noting that more and more marketers and C-store chains are entering their retail prices directly into the OPIS database each day.
Addition of five new cleared propane, ethane and butane products broadens market coverage and matches underlying industry standard practices.
September 20, 2007
ChemConnect Announces New Risk Management Opportunities for NGL Industry in Cooperation
HOUSTON, Sept. 20 /PRNewswire/ -- ChemConnect Inc., the leading electronic exchange for trading midstream energy, feedstocks, chemicals and related products, announced today that it will list five new NGL products and new locations for financially cleared trading on the ChemConnect over-the-counter (OTC) platform. These new propane and ethane contracts will be cleared through the company's partnership with The Clearing Corporation. Additionally, in cooperation with Oil Price Information Service (OPIS), ChemConnect will be offering its customers the ability to execute cleared OPIS swaps.
Effective immediately, ChemConnect will offer the following new financially cleared OTC contracts: * Mt. Belvieu Propane SWAP -- OPIS Settlement Index * Mt. Belvieu Ethane SWAP -- OPIS Settlement Index * Conway Propane Forward * Conway Propane SWAP -- ChemConnect Settlement Index * Conway Propane SWAP -- OPIS Settlement Index
"With new cleared products and new locations in the Midwestern United States, we're expanding beyond our current Gulf Coast slate of NGL products," said ChemConnect Vice President of Commodity Trading, Eric Paulsen. "Through our joint effort with The Clearing Corporation, we are providing the market with a risk management tool that closely matches actual underlying contract exposure to broadly recognized and utilized OPIS price references, while helping companies to mitigate and optimize their credit risk."
"The ChemConnect Exchange is globally known as the execution platform for the NGL market," said Diane Miller, OPIS Executive Editor. "The NGL industry will certainly benefit from this capability to better manage risk using the industry standard benchmarks published by OPIS and clearing services available through the unique relationship between ChemConnect and The Clearing Corporation."
ChemConnect and The Clearing Corporation continue to actively pursue the development of a broader range of financially cleared OTC products to meet the unique risk management and investment needs of a wider array of companies interested in the energy and chemical markets.
"The Clearing Corporation is pleased to support ChemConnect as they launch these new contracts. Their broader product offering emphasizes the growing interest in various OTC market segments where participants can achieve optimal risk mitigation," said Rich Jaycobs CEO of The Clearing Corporation.
For more information about these and other financially cleared trading opportunities, visit http://www.chemconnect.com
About ChemConnect:
ChemConnect is a leader in helping customers optimize their purchasing and sales processes for midstream energy, chemicals, plastics and related products through a unique combination of an active liquidity pool, seamless transaction execution, market information and industry expertise. Additional information about ChemConnect can be found at http://www.chemconnect.com
About Oil Price Information System:
Oil Price Information Service (OPIS) is one of the most widely accepted fuel price benchmarks for supply contracts and competitive positioning. It's used as a benchmark price by the world to buy and sell U.S. gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, propane, feedstocks, resid, and kerosene. Through its subsidiary, Axxis Software, it also provides leading-edge software solutions for petroleum marketers looking to automate price collection, data storage and repricing of dealer and commercial accounts.
About The Clearing Corporation:
The Clearing Corporation is a stockholder-owned, Delaware corporation now in its 81st year of business. The Clearing Corporation serves numerous clients in a variety of markets and is the only active independent derivatives clearinghouse in the world. Additional information on The Clearing Corporation is available at http://www.clearingcorp.com.
|
