Locator: 46639B.
WTI: up a dollar; up over 1%; trading at $76.02. We haven't seen $76 in quite some time.
- the overnight Houthi - US Navy story likely the reason.
2 nm chip: two links --
- MacRumors -- Apple to receive TSMC's first 2-nm chips; expect production to begin 2H25
- the blog -- ranked by relevance.
Sunocco to buy NuStar Energy, link here:
- $7.3 billion deal
- a premium of 31.9% to NuStar's last closing price
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Back to the Bakken
WTI: $76.02.
Friday, January 26, 2024: 45 for the month; 45 for the quarter, 45 for the year
35368, conf, Enerplus, Bandicoot 152-94-23CH-TF1,
None.
RBN Energy: with Tier 3 costs sky-high, US refiners consider investments, alternatives.
When the price of the Tier 3 sulfur credit hit a new high of $3,600 in October 2023, the tradable sulfur credit for gasoline moved from the background to center stage in refining circles. And while credit prices have retreated slightly to about $3,400, they still represent a nearly 10-fold increase over two years and translate to a Tier 3 compliance cost of almost $3/bbl, raising concerns from refiners in a highly competitive market. In today’s RBN blog, we look at how refiners are adapting and the investments that could reduce the cost of compliance.
Implemented in 2014 with initial phase-in beginning in 2017 and full implementation in 2020, the Tier 3 gasoline sulfur standard requires that all refiners and importers that deliver gasoline to the U.S. market meet a 10 parts per million (ppm) maximum sulfur specification as an annual average, compared with 30 ppm under the previous Tier 2 specs. The Tier 3 sulfur credit system allows refiners to sell gasoline that exceeds the 10 ppm annual average as long as they match their sulfur excess with credits.
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