ASIA CRUDE MOC PERFORMANCE: 5.5 mil barrels change hands for Sep loading
Market participants in the Platts Middle East crude Market on Close assessment process have completed the physical performance of 5.5 million barrels of Oman crude for loading in September, according...
View ArticleDiesel crunch deepens as shipping costs squeeze global oil trade
Crude flows from the Persian Gulf are recovering toward pre-disruption levels before the US-Iran war, but diesel and shipping markets remain under severe strain, prompting Asian and European buyers to...
View ArticleStrategic stock release resets diesel
The announcement that the G7 will release up to 100 million barrels of diesel and crude oil over the next four months in coordination with the IEA has effectively reset gasoil markets, triggering a...
View ArticleG7’s 100-million-barrel pledge tied to unfinished March emergency oil release
The G7, led by France, announced the release of 100 million barrels of diesel and crude oil after Trump threatened a ban of diesel exports. G7 countries have agreed to release up to 100 million barrels...
View ArticleUS imposes new sanctions on Iran’s oil transport network
The Trump administration announced new sanctions on Iran, targeting individuals, networks and 17 vessels involved in transporting crude oil, oil products and petrochemicals, according to the Treasury...
View ArticleEquinor and Shell partner on the Bay du Nord project
Equinor and Shell have signed an agreement under which Shell will acquire a 30% interest in the Bay du Nord project offshore Newfoundland and Labrador in Canada. The transaction supports the continued...
View ArticleItaly completes oil reserve release, open to more supply
Italy has fulfilled its commitments under a March oil stocks release plan coordinated by the International Energy Agency, an Italian government official said Thursday. The country is prepared to...
View ArticleTransocean Ltd. Announces Contract Backlog of Approximately $1.1 Billion,...
Transocean Ltd. RIG (“Transocean”) today announced a new contract award representing approximately $62 million in firm contract backlog and the formal approval of the previously announced Equinor...
View ArticleHurricane Isaias nears landfall, leading to production shut-ins
As of 4:00 a.m. central time on October 9, the National Oceanic and Atmospheric Administration expects Hurricane Isaias to make landfall on the Gulf Coast late Friday or early Saturday, creating the...
View ArticleGermany to release 15 million barrels from oil reserves
Germany will release up to 15 million barrels of oil and petroleum products, the economy ministry said Friday, as part of a Group of Seven agreement to release 100 million barrels of diesel and crude...
View ArticleFrance to release 10 million barrels of diesel from emergency reserves: Lecornu
France has agreed to release 10 million barrels of diesel from its emergency reserves to try and curb rising fuel prices after a G7 commitment to draw down more stocks, its Prime Minister Sebastien...
View ArticleOil prices dip after Trump says no Iran attack before midterms
Oil prices fell on Friday as markets dialed down fears of worsening Middle East supplies after U.S. President Donald Trump said there would be no new attacks on Iran before the midterm elections. But...
View ArticleUBS raises European gas price targets on Gulf LNG disruptions
UBS raises its natural gas price forecasts for Europe through 2027, citing extended disruptions to liquefied natural gas exports from the Gulf region and tighter storage levels across the European...
View ArticleUS fuel production and supply rise in October
The US has produced 8% more fuel oil per day on average in October so far compared to September, according to the Energy Information Administration (EIA). Changes in monthly US residual fuel oil from...
View ArticleASIA CRUDE MOC PERFORMANCE: 5.5 mil barrels change hands for Sep loading
Market participants in the Platts Middle East crude Market on Close assessment process have completed the physical performance of 5.5 million barrels of Oman crude for loading in September, according...
View ArticleUS LNG may lose competitive edge as gas prices climb, Fulcrum CEO says
US liquefied natural gas projects face a competitiveness challenge as domestic natural gas prices continue to rise, according to Fulcrum LNG CEO Jesus Bronchalo. Bronchalo made the remarks Tuesday...
View ArticleCanada’s 1 million b/d Pacific Coast oil pipeline crosses major hurdle
A 1 million-barrel/day crude oil pipeline to the Canadian Pacific Coast, from the prime oil sands producing region of Alberta, has received a major boost, with the federal government listing the...
View ArticleUK Natural Gas Prices Ease
UK natural gas prices fell to 194 pence per therm, easing from an over three-week high after President Trump ruled out attacks on Iran before the US midterm elections, alleviating fears of an...
View ArticleUS Gulf producers shut in 9% of oil, 3% of natgas production amid tropical...
The US National Hurricane Center (NHC) is tracking a disturbance in the southern US Gulf with a high likelihood of becoming a named storm, but it is still too early to determine possible impacts to the...
View ArticleJohan Sverdrup crude hits record US$24/bbl premium to brent as Saudi pipeline...
As Saudi Arabia’s suspension of its East-West pipeline drives medium-sour crude prices above US$140/bbl and European refiners scramble for alternatives, a new Wood Mackenzie analysis finds Johan...
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