Daily Chemical Reactions

US Refining Margins Fall To A YTD Low, Clean Energy Shows Pimples – A Pirate Looks At Forty, Another Looks At Puberty
October 20, 2023
Commodities Mentioned:
Plastics (PVC, PP, PE, PU, PC, PET, etc.), Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
Yara, CF Industries, Nutrien, LSB Industries, KOCH Fertilizer, Phillips 66, Chevron, ExxonMobil, LyondellBasell, Marathon Petroleum, Air Liquide, Shell, Honeywell, Iberdrola, Avangrid, Sasol, Liberty Energy, Venture Global, Liontown, Albemarle , Navigator CO2, Sika, Sunnova, Rio Tinto, Oz Renewables, VinFast, Issaquena Green Power, Eneos, Lynas Rare Earths, BASF, Jiangsu Sailboat Petrochemical Co., Evonik, Ineos, Sipchem, Panoramic Resources, Syngenta Group, Albermale, SK Chemicals, Spearmint Energy

Daily Chemical Reaction

US Refining Margins Fall To A YTD Low, Clean Energy Shows Pimples – A Pirate Looks At Forty, Another Looks At Puberty

Key Points

  • The development of clean energy globally faces considerable risk if the cost of deployments rises while fossil-fuel alternatives get cheaper – we discuss a few trends worth considering.
  • Crude oil strength has lifted feedstock costs and cut profit across downstream product chains that are not showing similar price support – US refining margins reached a YTD low this week.
  • China’s export limitations on graphite are a significant concern, as any supply issues in critical battery materials pose a risk to many clean storage developments and global net-zero targets.
  • Ex-US natural gas and crude oil increased, while US natural gas declined this week, a notable benefit for North American petrochemical producers relative to those in Asia and Europe.
  • We discuss falling global inflation, a positive for consumers amid other headwinds such as higher interest rates, and a few near-and-long-term developments in global agriculture.

See PDF below for all charts, tables and diagrams


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