Tampa:
Second-quarter Tampa molten contracts were set at $192/lt CFR, double the $96/lt CFR first-quarter level.
Nationwide refinery utilization pressed lower in the Energy Information Administration’s (EIA) most recent report. Operable capacity was at 86.1 percent for the week ending May 7, a 0.4-point decline from the prior week’s 86.5 percent, but higher than both the year-ago 67.9 percent and the 85.3 percent five-year average.
Crude inputs fell to an average 15.020 million barrels/d for the week, down 223,000 barrels/d from 15.243 million barrels/d reported previously.
U.S. Imports:
Sulfur imports for March softened 10.9 percent, to 279,902 st from the prior-year 314,146 st. July-March totals stood at 2.69 million st, up 2.5 percent from the year-ago 2.62 million st.
U.S. Exports:
Sulfur exports totaled 65,916 st in March, a 68.5 percent decrease from the year-ago 209,016 st. July-March exports stood at 775,864 st, off 39.6 percent from the prior-year 1.28 million st.
U.S. Gulf:
A ransomware attack responsible for shutting down the Colonial Pipeline, the country’s largest, triggered production cutbacks at a number of Gulf oil refineries during the week, Reuters reported. Running from Pasadena, Texas, to Linden, N.J., the pipeline supplies approximately 45 percent of total East Coast fuel supply.
A 5:00 p.m. restart of the pipeline was reported on May 12, but several refiners were reported cutting cracking rates in anticipation of potential storage problems if the restart was delayed.
Platts reported reduced runs from a fluidic catalytic cracking unit (FCC) at Total’s 225,000 barrel/d refinery in Port Arthur, Texas, while the nation’s largest refinery, the 607,000 barrel/d Motiva facility at Port Arthur, was reported shutting units early in the week. Citgo reduced outputs at its 418,000 barrel/d Lake Charles, La., plant starting on May 7.
Output at the Motiva refinery was reduced by 45 percent, according to Reuters, caused by shutdowns of the facility’s 195,000 barrel/d VPS-4 crude distillation unit (CDU); 80,000 barrel/d VPS-2 CDU; a 49,000 barrel/d reforming unit; and a 19,200 barrel/d hydrocracker. The plant’s largest 325,000 barrel/d VPS-5 CDU reportedly remained in operation throughout the week.
Last-done reported from key international markets left sources indicating available Gulf netbacks in the $180-$185/mt FOB range, unmoved from the prior report.
Brazil:
Recent Brazil imports continued to be described at $209/mt CFR, unchanged from the prior report. Second-quarter contracts fell in the $213-$214/mt CFR range.
Vancouver:
Last-done Vancouver prill business continued in the $170-$180/mt FOB range, sources said. Firming prices rumored out of China could press Vancouver higher in the next round of business, if confirmed.
Alberta:
Alberta netbacks continued at $65-$110/mt FOB, sources indicated. The range included both molten tons contracted into the U.S. market and solid material exported via Vancouver.
West Coast:
The West Coast spot prill market continued to track in the $170-$180/mt FOB range. Sources described second-quarter molten contracts at $140-$155/lt FOB, a jump from $70-$77/lt FOB reported for the first quarter.
China:
Recent confirmed imports continued to be noted in the $180-$200/mt CFR range, unmoved from the prior report. A spot transaction rumored at $217/mt CFR remained unconfirmed on May 13.
ADNOC:
Abu Dhabi National Oil Co. May sulfur offers were noted at $183/mt FOB Ruwais, slipping from $185/mt FOB in April.
Qatar:
Muntajat solid sulfur was posted at $183/mt FOB Ras Laffan, sources said, down $2/mt from April’s $185/mt FOB offer.