Brent Oil
Brent oil prices increased by 4.61% or US$3.43, as prices rose this week. Oil traded on August 30, 2018 at a price of US$77.79 per barrel relative to US$74.36 last week. Brent oil began the year at US$68.07 per barrel.
Petrojam prices
87 Octane prices increased week over week, by 1.08% (JMD$1.48). Additionally, 90 Octane increased by 1.08% or (JMD$1.48) week over week. 87 Octane and 90 Octane opened the year at J$121.04 and J$123.88 respectively and now trades at J$138.23 and J$141.07 per litre respectively.
Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History
This Week in Petroleum
A reduction in U.S. Average regular gasoline and diesel prices
On August 27, 2018, “The U.S. average regular gasoline retail price increased nearly one cent from the previous week to $2.83 per gallon, up 43 cents from the same time last year. Rocky Mountain and Midwest prices each rose three cents to $2.99 per gallon and $2.76 per gallon, respectively. West Coast and Gulf Coast prices each increased less than a cent, remaining unchanged at $3.31 per gallon and $2.57 per gallon, respectively. East Coast prices each fell over one cent to $2.76 per gallon.”
“The U.S. average diesel fuel price increased nearly two cents to $3.23 per gallon on August 27, 2018, 62 cents higher than a year ago. Midwest and Gulf Coast prices each increased over two cents to $3.15 per gallon and $3.00 per gallon, respectively. Rocky Mountain prices rose nearly two cents to $3.36 per gallon. West Coast and East Coast prices each increased over a cent to $3.72 per gallon and $3.22 per gallon, respectively.”
Inventories for Propane/propylene increasing
There was an increase in U.S. propane/propylene stocks last week by 2.6 million barrels to 71.4 million barrels as of August 24, 2018. This was 9.0 million barrels (11.2%) lower than the five-year average inventory level year over year. Gulf Coast and East Coast inventories increased by 1.4 million barrels and 0.7 million barrels, respectively. Midwest and Rocky Mountain/West Coast inventories each increased by 0.2 million barrels. Propylene non-fuel-use inventories represented 4.4% of total propane/propylene inventories.
For additional information click the link below:
Disclaimer: Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.