The Great Debate

Don’t bank on return of backwardation

May 20, 2010

Many energy analysts are predicting the crude market will move into backwardation before the end of the year.

NYMEX oil benchmark again in question

December 23, 2008

John Kemp Great Debate– John Kemp is a Reuters columnist.  The views expressed are his own –

The record differential between the front-month and more liquid second-month contracts at expiry last week once again raised pointed questions about whether the NYMEX light sweet contract is serving as a good benchmark for the global oil market, or sending misleading signals about the state of supply and demand.

Bleak outlook for U.S. oil refiners

December 1, 2008

John Kemp Great Debate– John Kemp is a Reuters columnist. The views expressed are his own –

Even by the standards of a deep-cyclical industry, the “golden age” of oil refining has proved remarkably brief, lasting no more than three years, before giving way to a new dark age.