Grades mixed on first full day of roll trade
U.S. crude oil differentials were mixed on Friday, the first full day of the cash roll period that traders use to square their positions, brokers said. The roll trade period, which traders use to...
View ArticleWhere are all those missing oil barrels?
CIO keeps hearing comments that the oil market will end this year strongly oversupplied. In the International Energy Agency’s (IEA) latest oil market report, for example, the agency still calls for a...
View ArticleDiesel disconnect highlights market angst, not market reality: Bousso
Diesel prices in the Atlantic basin have become increasingly disconnected from tightening supply and demand conditions, reflecting deepening concerns over the outlook for global economic activity. But...
View ArticleOil inches up as markets weigh sanctions on Iran, Russia-Ukraine ceasefire talks
Oil prices inched up on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against ceasefire talks aimed at ending the Russia-Ukraine war, which could lead to an increase...
View ArticleMiddle East Crude-Benchmarks fall to near 2-week low
Middle East crude benchmarks Oman, Dubai and Murban slid on Monday to near two-week lows as ceasefire talks aimed at ending the Russia-Ukraine war raised expectations of more Russian supplies. An...
View ArticleEnergy trader Vitol 2024 turnover fell, traded volumes stable
Global energy trader Vitol said on Monday its 2024 turnover reached $331 billion, down almost 18% from a year earlier, as prices settled after two prior years of heavy disruptions to energy markets....
View ArticleTrump to impose 25% tariff on countries that buy oil, gas from Venezuela
U.S. President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States. This “secondary tariff” will take effect...
View ArticleGrowth in global energy demand surged in 2024 to almost twice its recent average
Global energy demand grew at a faster-than-average pace in 2024 as the consumption of electricity rose around the world – with increased supply of renewables and natural gas covering the majority of...
View ArticleOPEC+ likely to proceed with planned May oil output hike, sources say
OPEC+ will likely stick to its plan to raise oil output for a second consecutive month in May, four sources told Reuters, amid steady oil prices and plans to force some members to reduce pumping to...
View ArticleMore European oil refineries to close, convert in next 10 years, panel says
European oil refineries will have to adapt to the energy transition or face a heightened risk of closure by 2035, a panel of executives said at the Financial Times Commodities Global Summit in Lausanne...
View ArticleW. Africa Crude-Differentials stable as traders look to Nigerian loadings
West African crude differentials were heard to be steady on Monday, as traders switched attention to emerging May loading programmes for Nigerian grades. Nigerian loading schedules for May had started...
View ArticlePutin speaks to UAE president on Ukraine and OPEC+
Russian President Vladimir Putin spoke to United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan about OPEC+ cooperation and Russia-U.S. talks on Ukraine, the Kremlin said on Monday. The...
View ArticleAI, LNG demand to keep US natgas use at record highs but bottlenecks threaten
U.S. natural gas use is set to continue hitting record highs due to soaring liquefied natural gas (LNG) demand and power consumption from data centers, executives said at a conference this week, while...
View ArticleOil’s share in global energy use falls below 30% in 2024: IEA
The share of oil in global energy demand fell below 30% for the first time in 2024, with the world returning to slower oil demand growth after the pandemic recovery, and oil consumption led by aviation...
View ArticleAPI weekly crude stock exceeds forecast, signaling weaker demand
The American Petroleum Institute (API) has reported the weekly inventory levels of US crude oil, gasoline, and distillate stocks. The API weekly crude stock, an indicator of US petroleum demand, has...
View ArticleGoldman Sachs expects non-OPEC+ production growth to slow with decline in...
Goldman Sachs on Monday said it expects non-OPEC+ output growth to slow by about 0.3 million barrels per day (mb/d) over a 12-month period for every $10 per barrel decline in oil prices when Brent...
View ArticleOil near three-week high on supply risks, US stocks drop
Oil prices edged higher on Wednesday as concerns about tighter global supply grew following the U.S. threat of tariffs on nations buying Venezuelan crude, along with a larger-than-expected drop in U.S....
View ArticleMiddle East Crude-Benchmarks up for a second session
Middle East crude benchmarks Oman, Dubai and Murban rose for a second consecutive session on Wednesday as the oil market remained supported by supply fears. Oil prices edged higher on supply concerns...
View ArticleUS oil producer Chevron interested in gas exploration in another two blocks...
Chevron has expressed an interest in hydrocarbon exploration off the island of Crete in the Mediterranean Sea, the second such expression for Greek energy by the U.S. oil producer this year, the Greek...
View ArticleTop traders see oil market well supplied, soft prices this year
Executives from the world’s top commodity trading houses expect a well-supplied oil market this year, with concerns remaining over global demand growth. Oil prices could continue to soften as global...
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