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Wednesday, March 17, 2021

Notes From All Over -- Mid-Morning Edition -- March 17, 2021

CORN! China books 1.16 million metric tons of US corn, first big flash sale in weeks. Link here

Natural gas pipelines: four new US natural gas pipelines come on line. Link to Charles Kennedy.

India: will cut Saudi Arabian oil imports, and buy more from US. Link here. Sulfur content? ULSD ultra light sulfur diesel? Also here at Bloomberg.

Indian crude purchases from Saudi Arabia dropped 36% in January from the previous month, while U.S. imports more than doubled, government data show.

Reuters reported earlier that Indian state-run refiners planned to cut purchases from the kingdom by a quarter to about 10.8 million barrels in May.

Around 86% of Indian oil imports last year were from OPEC+ members, with 19% coming from Saudi Arabia, according to government data. New Delhi has repeatedly called for OPEC+ to pump more crude to stop prices from rising too high, but its pleas have fallen on deaf ears with Riyadh extending its supply cuts and raising premiums for its crude.

Canadian housing! Link here. Prices surging. 

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