Generic Hero BannerGeneric Hero Banner
Latest market news

Port of NOLA to close prior to TS Francine

  • : Agriculture, Biofuels, Chemicals, Coal, Crude oil, Fertilizers, LPG, Metals, Oil products, Petroleum coke
  • 24/09/10

The port of New Orleans (Nola) in Louisiana and terminal operators there are limiting operations today in preparation for a full closure Wednesday as tropical storm Francine passes.

Terminal operators are expected to reopen on 12 September after damages are assessed.

United Bulk Terminals (UBT) issued a force majeure this morning from the Davant terminal on concerns for employee safety. The company did not disclose a timeline for reopening. UBT specializes in coal and petcoke along with other commodities.

Associated Terminals will suspend operations 11-12 September and will assess damages on 13 September.

The National Weather Service forecasts Francine to make landfall tomorrow on the Louisiana coast as a hurricane. Commodities including petcoke, coal, agriculture and fertilizer are likely to be affected by the port closure.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Nola urea climbs 7pc on escalating Mideast conflict


25/06/23
25/06/23

Nola urea climbs 7pc on escalating Mideast conflict

Houston, 23 June (Argus) — Urea barge values at New Orleans (Nola) climbed by 7pc on Monday afternoon in reaction to the US entering the escalating conflict between Israel and Iran. Barges delivering to Nola in July changed hands at $443-450/st fob, about $30/st higher than on 20 June. August barges also transacted at $445-455/st fob. Nola barge values have rallied by $100/st since Israel first launched strikes against Iran on 13 June following a downturn in reaction to spring demand fading at the port. The US bombed nuclear sites in Iran on Sunday. Iran then launched missiles at a US military base in Qatar today in retaliation. Qatar has been the first or second largest source of US urea imports in recent years. The escalation of hostilities between the US and Iran puts supplies in the Middle East at greater risk of disruption. Nitrogen production in Egypt and Iran is already off line. There are also fears in the global market that Iran may try to block the strait of Hormuz, but global supply remains threatened whether that occurs or not. The Middle East exports 21-22mn metric tonnes/yr of urea, about 40pc of global seaborne urea trade. The US received 1.6mn t, or 34pc its urea imports from the region, this fertilizer year, which runs from July through June, according to US Census Bureau data and Argus estimates. The US received roughly 60pc of its phosphate imports from the Middle East through April of this fertilizer year as well. Nola urea prices are taking a lead from international values despite spring demand being essentially over at the port and the Middle East's shrinking share of US imports since April because of US tariff policy. With the fertilizer offseason in the US at hand there is less urgency to attract imports, but the fall application season is closing in. In addition to reduced import availability to the US because of supply disruptions, other destinations could turn to exports from the US, a common but limited occurrence during the summer offseason. If disruptions to global supply continue, producers will have more negotiating leverage through the offseason resulting from having more incentive to export and less imports to compete with. The US is already facing tight supply and demand fundamentals at home. Tariffs restricted imports this spring while the largest corn crop in over a decade drained inventory across the US, likely leaving distributors and producers will little inventory leftover. Urea affordability — measured by a ratio of urea and corn prices — is 32pc below year-ago levels. Higher pricing through the summer season will likely trim fill and prepay buying, especially with interest rates largely holding compared with last year, keeping the cost of storing product historically elevated. By Calder Jett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Iran fires missiles at US military base in Qatar


25/06/23
25/06/23

Iran fires missiles at US military base in Qatar

London, 23 June (Argus) — Iran today fired missiles at a US base in Qatar in retaliation for the weekend attack on its nuclear facilities. The Iranian military said the US' Al-Udeid base was its target. The Qatari government said it intercepted the missiles and there were no deaths or injuries. Tensions in the region have been stretched since the US bombed Iranian nuclear facilities at the weekend. US president Donald Trump today again expressed a desire for regime change in Tehran, which in turn said US military interests were now legitimate targets. Earlier, Qatar closed its airspace and the US and UK embassies there issued safety warnings to their citizens, suggesting this Iranian attack was flagged and expected. The price of Ice Brent crude fell by as much as 4.5pc in the wake of the Iranian attack to an intraday low of $72.48/bl, having hit a five-month high of $81.40/bl earlier in the day. The Iranian move echoes its attacks on US military targets in Iraq after the US' killing of senior Iranian military commander Qassem Soleimani in January 2020. Perhaps mindful of this, foreign firms operating in Iraq today started removing some employees from the country. Regional airlines began cancelling and rerouting flights across the Middle East, with flight tracking showing almost no flights in the air above the Mideast Gulf. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump escalates pressure to keep oil prices down


25/06/23
25/06/23

Trump escalates pressure to keep oil prices down

Washington, 23 June (Argus) — President Donald Trump is pressing domestic oil producers to increase drilling as he works to contain the energy market fallout from a potential escalation in hostilities following US airstrikes on nuclear sites in Iran. Trump said today he was monitoring how the oil industry is responding to the conflict, which depending on Iran's response could disrupt 17mn b/d of crude and refined products that are shipped through the strait of Hormuz. The US carried out air strikes on Iran's Fordow, Natanz and Isfahan nuclear sites early on 22 June local time. Brent crude futures hit a five-month high above $80/bl earlier Monday but had fallen to $73.81/bl as of 1:18 pm ET, after Iran said it had launched an attack on a US military base in Qatar. "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!" Trump wrote Monday morning in a post on his social media website Truth Social. Trump followed up by directing the US Department of Energy (DOE) to "DRILL, BABY, DRILL!! And I mean NOW!!!" US energy secretary Chris Wright, in a social media post responding to Trump's instructions, said "we're on it" but did not say what actions he would take. DOE does not have a formal oversight or regulatory role related to oil and natural gas production, although it does manage the US Strategic Petroleum Reserve (SPR). The White House, asked for comment, said Trump was urging his administration to support drilling to keep energy prices low. Since Trump's first day in office, he has "championed domestic energy production to strengthen American economic security", the White House said. DOE did not immediately respond to a request for comment. Trump has sought to increase US oil production by easing regulations, expediting environmental reviews and expanding leasing, but it could take years for those actions to translate into higher production. In the near-term, Trump's most potent tool to reduce prices would be ordering a release of oil from the SPR, which holds 402.5mn bl of crude in four storage sites in Louisiana and Texas. Trump and many other Republican lawmakers were critical of former president Joe Biden for ordering the emergency release of 180mn bl of crude from the SPR in 2022 in the wake of Russia's invasion of Ukraine. Trump has said he wants to refill the SPR to its full capacity of 714mn bl. The White House said Monday it is not yet seeing interruptions to oil flows, but that the "many tools" available to the president and his "commitment to peace through strength" should "all be reassuring to the market". By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

China sulacid exports reach record in Jan-May


25/06/23
25/06/23

China sulacid exports reach record in Jan-May

London, 23 June (Argus) — China's sulphuric acid exports hit a record high for the period in January-May, driven by greater acid availability following the expansion of smelting capacity and strong fob prices. China exported 1.8mn t of sulphuric acid in January-May, more than double the 870,000t exported a year earlier, customs data show. The previous high for January-May was in 2022, at 1.7mn t. China's smelting capacity has risen this year, notably with the launch of Tongling Nonferrous' 500,000 t/yr Jinxin copper smelter in Tongling city in east China's Anhui province on 26 March. Exports are expected to remain buoyant, with smelting capacity rising by over 1mn t/yr in 2025, according to industry estimates. Additional support came from firmer Chinese fob prices in January-May, driven by tight spot availability from Asian suppliers — mainly South Korean and Japanese — as a lack of metal concentrates and maintenance outages limited production. Global copper concentrate supply is expected to remain tight this year, weighing on copper concentrate treatment and refining charges. Chile was the main recipient of Chinese acid in January-May, taking 715,000t, up by 56pc on the year. Exports to Indonesia and Saudi Arabia rose sharply — to 216,000t and 195,000t, respectively, up from 50,000t each a year earlier. Morocco received 176,000t, more than doubling its 81,000t take a year earlier. By Lili Minton China exports vs fob price Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more