Iran’s new reformist regime spurs hope of stable crude flows to Asian buyers
Asian importers are hoping for some normalcy to oil trade flows from Iran, as the country’s new reformist president pushes for a broader thaw in Tehran’s relations with the West by reviving the nuclear...
View ArticleExxon clash with Chevron hinges on change of control of Hess’ Guyana asset,...
Exxon Mobil’s XOM.N legal bid to stop Chevron’s CVX.N proposed $53 billion acquisition of Hess HES.N rests on whether the transaction would involve a change of control of Hess’ prize subsidiary in...
View ArticleTexas tanker bottleneck grows on slow Freeport LNG restart after Beryl
The number of liquefied natural gas (LNG) tankers waiting to load at Freeport LNG in Texas has increased since the U.S. second largest exporter of the supercooled gas halted processing ahead of...
View ArticleMiddle East Crude-Benchmarks edge higher on firm demand in Asia
Middle East crude benchmarks Oman, Dubai and Murban climbed on Thursday, supported by firm demand from Asian refiners. More details emerged for tenders issued by Chinese refiner Rongsheng Petrochemical...
View ArticleSaudi Arabia, Russia to maintain ‘close coordination’ on OPEC+: Kremlin
Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin reaffirmed their countries’ commitment to the OPEC+ oil production accord among other bilateral issues in a phone call late...
View ArticleOPEC+ unlikely to change oil output policy at Aug 1 JMMC meeting, sources say
A mini OPEC+ ministerial meeting next month is unlikely to recommend changing the group’s output policy, including a plan to start unwinding one layer of oil output cuts from October, three sources...
View ArticleUS Midwest refinery power issues pump up gasoline prices after storms sweep...
Midwestern refiners were seen scrambling for gasoline on July 17 after weekend storms swept through the Great Lakes region, causing tornados and forcing ExxonMobil’s 251,800 b/d Joliet refinery in...
View ArticleSingapore middle distillates stocks surge on jet fuel imports
Singapore’s middle distillates stockpiles rose more than 30% from last week, as a surge of jet fuel/kerosene total imports – mainly from India – offset gains in diesel/gasoil net exports, data showed...
View ArticleRussia’s July oil and gas revenue to jump 50% to $14 bln, Reuters...
Russia’s oil and gas revenue in July is set to rise by 50% year on year to almost $14 billion thanks to stronger oil prices and a weaker rouble, Reuters calculations showed. Oil and gas revenue has...
View ArticleFlurry of new European LNG projects risk underutilization amid muted demand
European LNG regasification projects are set to increase the continent’s LNG capacity by 121 million mt/year before the end of the decade, yet with waning European demand and utilization rates at...
View ArticleOil prices fall as strong dollar, worries over China weigh on sentiment
Oil prices fell on Friday as a strong dollar, mixed economic signals and concern over China’s economy weighed on investor sentiment. Brent crude prices fell by 41 cents, or 0.5%, to $84.70 a barrel by...
View ArticleThe Commodities Feed: Rangebound crude
Energy – Canada wildfire risk grows The oil market is once again relatively rangebound. To the upside, growing Chinese demand concerns are capping the market, following a raft of data earlier this week...
View ArticleChina’s Sinopec reports first-half crude throughput up only 0.1%
China Petroleum and Chemical Corp (Sinopec), Asia’s largest refiner, on Friday reported first-half crude throughput little changed year on year. The state refining giant processed 126.69 million metric...
View ArticleW. Africa Crude-Angolan allocations awaited, Nigerian steady
The West African crude market was awaiting Angolan state oil firm Sonangol’s term allocations for September-loading crude, traders said on Friday, while offers of Nigerian cargoes were steady. Less...
View ArticleMiddle East Crude-Dubai steady; Oman, Murban slip
Middle East crude benchmark Dubai held steady on Friday, supported by purchases on the window, but spot premiums for Oman and Murban slipped. Taiwan’s CPC has bought 6 million barrels of U.S. West...
View ArticleArbitrage flows of WTI Midland to Asia persist despite unfavorable economics
Demand for US light sweet WTI Midland crude into Asia continues to be supported for the moment by its quality premium despite unattractive arbitrage economics driven by a widening EFS spread and...
View ArticleTurkey to send ship to search for oil and gas off Somalia coast
Turkey will send an exploration vessel off the coast of Somalia later this year to search for oil and gas as part of a hydrocarbon cooperation deal between two countries, Turkish energy ministry said...
View ArticleUS court will not halt power plant emissions rule as states’ challenge it
A U.S. appeals court on Friday ruled that a regulation ordering deep cuts in power plants’ carbon emissions can go ahead while it considers a challenge from more than two dozen Republican-led states....
View ArticleUS Cash Crude-Grades mixed on lower refinery demand, lower rig count
U.S. grades were mixed on Friday, dealers said, as a lower rig count somewhat offset weaker refinery demand. U.S. energy firms this week added oil and natural gas rigs for the second time in three...
View ArticleNorth Sea Crude-Forties rises, WTI Midland weakens
North Sea Forties crude rose on Friday after a deal, while WTI Midland weakened after two cargoes traded in an usually active end to the week’s window trading. PLATTS WINDOW * Indications are on a...
View Article