Unsold oil stuck on tankers threatens world market gridlock

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Reuters

LONDON – As land storage sites worldwide reach brimming point due to a supply glut, tens of millions of barrels of oil are sitting on tankers looking for homes – threatening logistical paralysis.

The International Energy Agency on Friday said stored oil has hit 3 billion barrels. Traders say the excess of crude is leaving tankers queuing at major ports worldwide, lengthening waiting times to days, weeks and even months.

The lack of space to unload oil is tying up the tankers needed to keep oil moving, and wells running. The bottlenecks could force oil suppliers into quick, cut-priced sales just to free space, adding more pressure to oil prices already close to six-year lows.

The cost to hire a supertanker – each capable of carrying 2 million barrels of oil – recently hit its highest level since 2008 at over $100,000 a day last month and currently remains at over $70,000 a day.

“We’re alarmed,” said Eugene Lindell, senior crude market analyst with JBC Energy. “There are growing indicators that it’s getting harder to digest this crude.”

In related news, Oil tankers queueing in U.S. Gulf seen as new symbol of glut.

FROM TEXAS TO CHINA

In the U.S. Gulf, more than 50 commercial vessels were anchored outside ports near Houston at the end of last week, of which 41 were tankers.

Trade sources said there were seven aframax tankers – each capable of carrying up to 700,000 barrels of oil – sitting outside Rotterdam waiting to unload. There was also nearly 15 million barrels of unsold West African crude oil either loaded on tankers or waiting to be loaded in the next two weeks.

Shipping and port sources, pointing to full onshore storage, said up to 20 supertankers were held up in Iraq’s Basrah terminal, with vessels experiencing loading delays of up to 12 days.

One port source said at China’s Qingdao port, one supertanker was stuck at anchorage since August and another since last month.

“There are delays across the board as a lot of cargo is being put through the system. Port delays in Basrah and China in particular but also in many other areas. This is tying up capacity,” said one tanker source.

Shipping consultants MSI said the near-term outlook for crude tankers was positive.

“Storage space in China and Europe is dwindling, leading to extended discharge times. Couple this with ongoing high load waiting times in Iraq and Turkish Straits delays and (tanker) availability is tight,” MSI said.

A problem for oil players is that tankers have not been booked on long-term charters. This is in contrast to the floating storage play seen earlier this year, when ships were parked at sea until prices recovered and were then sold by oil traders for a profit.

Sources said the current build up was parked on vessels hired for shorter journeys, meaning oil suppliers will have to unload soon or face more freight expenses.

“Those holding stocks will either have to dump their cargoes at cheaper prices or pay those higher freight costs,” a trade source said.

Another added: “Each minute the clock is ticking, they’re losing money.”

(Additional reporting by Amanda Cooper, editing by William Hardy)

Source: Unsold oil stuck on tankers threatens world market gridlock | marcellus.com

Grain lower, livestock lower

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CHICAGO – Grain futures were lower Friday in early trading on the Chicago Board of Trade.

Wheat for December delivery was 3.25 cents lower at $4.9460 a bushel; December corn was 2 cents lower at $3.60 a bushel; December oats were unchanged at $2.30 a bushel; while January soybeans were 6.25 cents lower at 8.5660 a bushel.

Beef lower and pork lower the Chicago Mercantile Exchange.

December live cattle was 1.38 cents lower at $1.3178 a pound; January feeder cattle was 1.85 cents lower at $1.6505 a pound; December lean hogs lost 1.10 cents to $.5500 a pound.

Source: Grain lower, livestock lower

NHL MORNING SKATE – NOV. 13, 2015

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NHL MORNING SKATE – NOV. 13, 2015

Welcome to the “NHL Morning Skate,” a daily collection of the latest news and notes from around the League.

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THURSDAY’S RESULTS

Home Team in Caps
Colorado 3, BOSTON 2
NY RANGERS 6, St. Louis 3
Washington 5, PHILADELPHIA 2
Minnesota 3, CAROLINA 2 (OT)
OTTAWA 3, Vancouver 2
TAMPA BAY 3, Calgary 1
Buffalo 3, FLORIDA 2
Toronto 2, NASHVILLE 1 (SO)
New Jersey 3, CHICAGO 2
DALLAS 6, Winnipeg 3
ARIZONA 4, Edmonton 1
LOS ANGELES 2, NY Islanders 1

INSIDE THE NUMBERS

Of the 12 games contested on Thursday:
* Ten were tied or within one goal entering the third period (COL-BOS, STL-NYR, MIN-CAR, VAN-OTT, CGY-TBL, BUF-FLA, TOR-NSH, NJD-CHI, WPG-DAL and NYI-LAK).
* Nine saw the winning team overcome a deficit of at least one goal (COL-BOS, WSH-PHI, MIN-CAR, VAN-OTT, TOR-NSH, NJD-CHI, WPG-DAL, EDM-ARI and NYI-LAK).
* Two saw the winning team overcome a multi-goal deficit (COL-BOS and MIN-CAR).

CLUBS CONTINUE RECORD-SETTING STARTS . . .

Four clubs – the Rangers, Stars, Capitals and Wild – won on Thursday to continue their record-setting starts to the season:

* Mats Zuccarello registered 1-2—3 and Henrik Lundqvist made 31 saves, including a sprawling paddle stop in the first period, to help the Rangers extend their point streak to 11 games (9-0-2), including seven consecutive wins. At 12-2-2 (26 points), the Rangers are off to their best 16-game start to a season – in terms of wins – in the franchise’s 89-year history. Their 26 points also equal a club record through the opening 16 contests of a season, set in 1971-72 (11-1-4). The Rangers last posted a point streak of 11 or more games from Feb. 9 – March 10, 2008, when they had a 13-game run (10-0-3).
* Ales Hemsky notched 1-2—3 and Jamie Benn scored the tiebreaking goal with 5:55 remaining in regulation to lift the Stars to their fourth victory in their past five contests. At 13-4-0 (26 points), the Stars are off to their best 17-game start to a season – in terms of wins and points – in the franchise’s 48-year history.
* Jason Chimera collected 2-1—3 to help the Capitals overcome a pair of one-goal deficits and pick up their fifth win in their last seven outings. At 11-4-0 (22 points), the Capitals have equaled their best 15-game start to a season – in terms of wins and points – in the franchise’s 41-year history (also 1991-92: 11-4-0 and 2010-11: 11-4-0).
* Jason Zucker scored twice, including the winning goal at 3:50 of overtime, to lead the Wild back from an early 2-0 deficit en route to their third consecutive victory. At 10-3-2 (22 points), the Wild have matched their best 15-game start to a season – in terms of points – in the franchise’s 15-year history (also 2002-03: 10-3-2 and 2006-07: 11-4-0).

. . . OTHERS KEEP THE MOMENTUM

Four other teams – the Kings, Devils, Sabres and Senators – picked up wins on Thursday to continue their recent strings of success:

* Offseason acquisitions Jhonas Enroth (31 SV) and Milan Lucic (GWG) combined to lead the Kings to their 10th victory in their last 13 outings following a 0-3-0 start to the season. Enroth improved to 3-0-0 in his first three appearances with the Kings, yielding just two goals on 96 shots (0.67 GAA, .979 SV%, 1 SO).
* Sergey Kalinin posted 1-1—2, including the tiebreaking goal with 2:27 remaining in regulation, to help the Devils overcome an early 1-0 deficit and defeat the Blackhawks for the second time in the past week (also Nov. 6 at NJD: 4-2 W). The Devils improved to 9-3-0 in their past 12 games following a 0-3-1 start to the season.
* Linus Ullmark made 36 saves, including 16 in the middle frame, to help the Sabres hold off the Panthers en route to sixth victory in their past eight games following a 2-6-0 start to the season. Ullmark improved to 4-2-0 in his first six NHL appearances (2.45 GAA, .924 SV%).
* The Senators scored three consecutive goals to overcome an early 1-0 deficit and improve to 5-2-1 in their last eight contests following a 3-2-2 start to the season. Andrew Hammond (22 SV) upped his career record to 22-1-4 in 29 appearances (1.84 GAA, .940 SV%, 3 SO); per Elias, he became the third goaltender in NHL history to win 22 of his first 29 career outings (also Frank Brimsek in 1938-39 and Ross Brooks from 1972-74, both w/ BOS).

GOT YOUR NUMBER

The Coyotes and Avalanche overcame deficits to continue their recent success against their Thursday opponents:

* The Coyotes scored four unanswered goals – powered by 1-1—2 from Max Domi – to overcome an early 1-0 deficit and extend their point streak against the Oilers to 19 games (16-0-3) dating to March 17, 2011 (EDM: 3-13-3), including six consecutive wins. Domi has 8-7—15 in his first 16 NHL outings (including five multi-point performances); he ranks first among rookies in goals and second in points.
* The Avalanche recorded three unanswered goals – including the tiebreaker by Matt Duchene (1-1—2) at 6:49 of the third period – to overcome a 2-0 deficit en route to their eighth consecutive victory at TD Garden dating to March 24, 2001 (BOS: 0-7-1). Duchene has 6-3—9, including four multi-point performances, in his last six contests after totaling 1-1—2 in his first 10 games of the season.

THIS AND THAT

* Steven Stamkos broke a 1-1 tie at 12:51 of the third period to help the Lightning improve to 8-3-0 in their last 11 meetings with the Flames since defeating them in the 2004 Stanley Cup Final (CGY: 3-4-4). Stamkos recorded his 99th career power-play goal (all w/ TBL), second in franchise history behind Vincent Lecavalier (112).
* Tyler Bozak potted the tying goal at 5:52 of the third period and Peter Holland notched the lone marker in the shootout to lift the Maple Leafs to their second consecutive victory, equaling their win total from the first 14 games of the season.

KANE EXTENDS POINT, GOAL STREAK

Blackhawks forward Patrick Kane registered 1-1—2 to extend his point streak to 11 games (8-11—19) and goal streak to five contests (5-6—11).
* Kane, who has 11-14—25 overall this season (including at least one point in 14 of his first 16 outings), shares first in the NHL in goals (w/ Jamie Benn) and points (w/ Tyler Seguin).
* Kane’s 11-game point streak is the longest in the NHL this season and three shy of his career high, set Nov. 30 – Dec. 28, 2013 (8-17—25 in 14 GP). He has five multi-point performances during the 11-game run, including four in his past five contests (5-6—11).
* Kane’s five-game goal streak is tied for the longest in the NHL this season (w/ Joe Pavelski) and equals a career high, last achieved Feb. 1-10, 2013 (7-2—9).

VETERANS MOVE UP THE ALL-TIME CHARTS . . .

The three active leaders in games played – Panthers forward Jaromir Jagr (1,564 GP), Coyotes captain Shane Doan (1,410 GP) and Avalanche forward Jarome Iginla (1,408 GP) – all continued their climbs up the NHL’s all-time list:

* Jagr (0-1—1) played in his 1,564th career game to tie Nicklas Lidstrom – who was inducted into the Hockey Hall of Fame on Monday – for 10th place in NHL history.
* Doan (1-0—1) played in his 1,410th career game to surpass Paul Coffey (1,409 GP) and tie Norm Ullman (1,410 GP) for 31st place in NHL history.
* Iginla (0-1—1) played in his 1,408th career game to surpass Dale Hunter (1,407 GP) for sole possession of 34th place in NHL history.
* Iginla (596-643—1,239) also tied Peter Stastny (450-789—1,239) for 37th place on the NHL’s all-time points list.

. . . MORE MILESTONES & BENCHMARKS

* Erik Johnson (COL), the first overall selection (by STL) in the 2006 NHL Draft, collected one assist to become the first defenseman – and 17th overall player – from his draft class to reach the 200-point milestone (51-149—200).
* Predators captain Shea Weber (1-0—1) played in his 700th NHL game (all w/ NSH) to become the first defenseman – and third overall player – in franchise history to reach the milestone. The others: David Legwand (956 GP) and Martin Erat (723 GP).
* Oilers forward Teddy Purcell played in his 500th NHL game.
* Coyotes defenseman Stefan Elliott scored his first goal with his new club (6 GP) and first in the NHL since April 13, 2014 at ANA (w/ COL).

LOOSE PUCKS

John Klingberg (DAL) registered 1-1—2 to move back into first place in scoring among defensemen (3-14—17 in 17 GP), one point ahead of Erik Karlsson (OTT) and P.K. Subban (MTL) . . . Hurricanes defenseman Justin Faulk notched his sixth goal of the season (all PPG), tops among defensemen. His six power-play goals also pace the entire NHL . . . Blackhawks forward Artemi Panarin scored to maintain first place among rookies with 5-11—16 (in 16 GP) . . . Oilers forward Leon Draisaitl posted one assist. He has 4-7—11, including points in five of seven games, since being recalled from the Bakersfield Condors (AHL) on Oct. 29 . . . Avalanche forward Carl Soderberg, who played his first 161 NHL games with the Bruins (29-65—94), scored in his return to TD Garden . . . Coyotes goaltender Mike Smith turned aside 27 shots to improve to 11-1-1 in 15 career appearances vs. EDM (2.53 GAA, .915 SV%) . . . Stars goaltender Kari Lehtonen, the second overall selection by the Thrashers in the 2002 NHL Draft, made 35 saves to improve to 6-1-1 in eight career appearances vs. ATL/WPG (2.11 GAA, .941 SV%) . . . Blues goaltender Jake Allen saw his shutout streak end at 170:53 . . . ICYMI: The Red Wings signed forward Justin Abdelkader to a seven-year contract extension . . . The Flames acquired goaltender Kevin Poulin from the Lightning in exchange for future considerations.

SNEAK PEEK AT FRIDAY’S ACTION

All Times Eastern
Columbus @ Pittsburgh, 7:00 p.m., SN1, TVAS, FS-O, ROOT
Calgary @ Washington, 7:00 p.m., SNW, CSN-DC
San Jose @ Detroit, 7:30 p.m., CSN-CA, FS-D
NY Islanders @ Anaheim, 10:00 p.m., MSG+, PRIME, FS-SD

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Canucks Struggles Continue On Road Trip With 3-2 Loss To Ottawa

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CANUCKS BANTER     By Andrew Chernoff    November 12, 2015

Vancouver Suffers Second Regulation Road Loss Of Season

Sven Baertschi got the Canucks out in front of Ottawa, with helpers from Radim Vrbata and Bo Horvat, then the Senators tied the game up on a power play goal by Bobby Ryan less than 6-minutes later. The Senators scored the go ahead goal, and only goal in the second period to make it 2-1 after two periods.

In the third period, Henrik Sedin was called for a penalty and for the second time in the game, the Senators with 2-seconds left scored a power play goal to give themselves a two-goal cushion with less than two minutes left in the hockey game.

With Ryan Miller pulled, and a power play of their own in the final minute of play, Alex Edler scored to make it 3-2 with 24-second left but the Canucks were unable to score the tying goal before time ran  out.

The loss was the Canucks 10th one-goal loss of the season, and 2nd loss in regulation play on the road this season. Vancouver’s power play goal in the third period ended their power play slump of 0 for 18. Ottawa’s two power play goals on four opportunities continued Vancouver’s struggles with their penalty killing.

CANUCKS JOTTINGS

  • Vancouver’s power play goal in the 3rd-period ended their power play slump at 0-18.
  • Canucks penalty killing in their last two games is 3-7, allowing 4-power play goals.
  • Vancouver’s consecutive streak of shorthanded goals against came to an end  tonight at two games.
  • With tonight’s goal, Sven Baertschi has scored in consecutive games after potting a goal against Columbus on Tuesday night.
  • Canucks are now 9-8-1 overall in Ottawa, and 6-3 in the last 9 meetings at the Canadian Tire Centre.

CANUCKS GAME SUMMARY

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UPDATED REGULAR SEASON STATS

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Statistics courtesy of the NHL and the Vancouver Canucks, with thanks.

The Scary Thing Your Chapped Lips Could Be Telling You

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Lip balms, glosses, lipsticks—as a certified lip-color fiend, I’m fanatical about keeping my lips covered at all times (seriously, I could open a drugstore with all of the lip products at my desk). You’d think that would mean perpetually soft, moisturized lips, and yet at least once every winter I can count on developing a lip spot.

Not a cold sore, or a blocked hair follicle, or a fungal infection—all of which are suggestions that inevitably turn up when I Google the problem.

The spots aren’t sore or itchy; they don’t get red or puff up or crack. They’re just little patches, usually right along the outline of my lower lip, where the skin stays rough, and dry, and frankly desiccated feeling no matter what I do.

They turn up seemingly out of nowhere, and after I spend a week or so obsessively applying lip balm and fighting the urge to pick, they disappear. Until the next time.

So what are these annoying little spots? According to the Internet, they could be bacteria from the mouth of my refillable water bottle (gross), or signs that I desperately need to eat even more kale, or an omen of my imminent demise (thanks, alarmists out there!).

According to Joshua Zeichner, the director of cosmetic and clinical research in dermatology at Mount Sinai Hospital in New York City (a.k.a. someone who actually knows what he’s talking about), it’s most likely a sign of sun damage. “Just as you can get a precancerous spot on other parts of your skin, you can get a precancerous spot on your lips,” he says. “Particularly older patients, or patients who are fair-skinned.”

As anyone who’s ever embarked on the quest for a lipstick that will last through lunch can tell you, being a human who consumes food and beverages causes lip products to wear off faster than the rest of your makeup. Throw in the fact that some of the things we eat and drink can break down sunscreen, making sun exposure around the mouth even worse—and that many of us skimp on sunscreen coverage as we get close to our lips because zinc oxide is no one’s favorite flavor—and you’ve got a domino effect that leaves the outer edges of our mouths especially vulnerable.

Help prevent future damage by incorporating SPF-infused lipsticks, glosses, and balms (here are a few of our faves) into your daily routine, reapplying often (even in the winter, duh), and making sure your daily facial sunscreen is covering all the way up to your lips.

Not convinced that your dry spot is anything more than just dry? You can try out low-key exfoliation (Zeichner recommends a gentle sugar scrub for mild chemical exfoliation), but no hard-core peels and definitely no picking! After gently buffing away any flakes, slather on a thick, hydrating lip balm with petrolatum (we like Aquaphor Advanced Therapy Healing Ointment (it’s a classic for a reason) to help boost the skin’s barrier function. If you pass the two-week mark and the dryness is still lingering, make an appointment with a dermatologist.

While Zeichner notes that there are a variety of things that can cause changes in your lips (allergies, vitamin deficiencies, even Crohn’s disease) the bottom line is this: “If you have a rough, scaly spot that’s not improving with typical lip products, get it checked out.”

Source: The Scary Thing Your Chapped Lips Could Be Telling You: Beauty Blog: Daily Beauty Reporter: allure.com