Global crude, products markets test new price floors after two-week selloff
Global crude oil and refined product benchmarks regained some lost ground Sept. 11 after tumbling to three-year lows as bearish sentiment continued to grip global markets, causing traders to reevaluate...
View ArticleFitch Ratings Keeps Oil and Gas Price Assumptions Mostly Unchanged
Fitch Ratings has maintained its base-case oil and TTF gas price assumptions and has marginally revised down its 2024 base-case gas price assumption for Henry Hub, reflecting year-to-date prices. All...
View ArticleGrowth in global oil demand continues to decelerate
Highlights Global oil demand growth continues to decelerate, with reported 1H24 gains of 800 kb/d y-o-y the lowest since 2020. The chief driver of this downturn is a rapidly slowing China, where...
View ArticleOil prices climb 1% on concern about hurricane’s impact on US output
Oil prices rose more than 1% on Thursday, extending a rebound spurred by concern over Hurricane Francine’s impact on U.S. output, though a gloomy demand outlook capped gains. Brent crude futures for...
View ArticleUS gasoline prices set to fall under $3/gallon as election nears
U.S. motorists should see gasoline prices fall below $3 a gallon for the first time in over three years as soon as next month, shortly before they go to vote in November’s presidential election,...
View ArticleSingapore’s middle distillates stocks slip 4% as jet fuel net exports surge
Singapore’s middle distillates stockpiles fell 4% week-on-week to below 11 million barrels as a rise in jet fuel/kerosene net exports outweighed gains in diesel/kerosene net exports, official data...
View ArticleIran’s oil production keeps rising despite sanctions, OPEC data show
Iran continued to raise its oil production in August despite the continued pressure of US sanctions that restrict the country’s ability to sell oil in international markets, according to latest data by...
View ArticleTrillions of dollars of fossil fuel finance routed via tax havens: study
Trillions of US dollars of bank finance to fossil fuel companies is being routed via opaque financial centres in several countries, including the Netherlands, research published this week showed. The...
View ArticleThe Commodities Feed: USD weakness supports the complex
Energy – Oil continues its recovery Oil prices continued their move higher yesterday. ICE Brent settled more than 1.9% higher on the day, leaving it within striking distance of $72/bbl. Supply...
View ArticleOil prices extend recovery from multi-year lows
Oil prices extended their rally on Friday and were on course for a weekly gain, sparked by output disruption in the U.S. Gulf of Mexico after Hurricane Francine forced the evacuation of production...
View ArticleMiddle East Crude-Benchmarks little changed as trade muted during APPEC
Middle East crude benchmarks Oman, Dubai and Murban were little changed on Friday. Spot premiums for the benchmark grades were largely steady this week, hovering around $2 a barrel to Dubai quotes, as...
View ArticleHurricane Francine has taken energy infrastructure offline
Hurricane Francine made landfall Wednesday on the Louisiana coast before being downgraded to a tropical storm, taking some energy infrastructure offline along the U.S. Gulf Coast from Louisiana through...
View ArticleRussia’s Urals oil rises above $60 Western price cap on stronger Brent
Russia’s Urals crude oil price rose on Friday above the $60/barrel limit imposed by Western nations as the Brent price climbed back after a dramatic fall earlier this week, traders said and Reuters...
View ArticleMacquarie lowers oil price outlook for 2024 on weaker demand
Macquarie cut its oil price outlook for 2024,citing lower demand especially driven by China as the key factor along with a well supplied oil market. It lowered its price view for both Brent and WTI by...
View ArticleOil prices rise as US production slowly resumes after hurricane
Oil prices rose more than $1 a barrel on Friday, extending their rally and putting crude on course for a weekly gain on the back of output disruptions in the U.S. Gulf of Mexico after Hurricane...
View ArticleAustralia’s Nov NWS condensate seen weaker amid higher supply, weak margins
Market valuations for Australian North West Shelf condensate cargoes loading in November was seen lower on the month, with greater supply and weak petrochemical margins, sources said. For the...
View ArticlePolitical risks loom amid Senegalese oil ramp-up
Crude exports from Senegal’s maiden project have ramped up to 100,000 b/d just three months after startup, shipping data shows, even as its new government presses ahead with contentious plans to review...
View ArticleMed crude-Urals differentials stable, prices rise above the cap
Urals crude differentials remained unchanged on Friday, but the price for the Russian grade has risen above the Western price cap amid strength in Brent. Russia’s Urals crude oil price rose on Friday...
View ArticleNorth Sea Crude-Ekofisk slips, others steady
North Sea Ekofisk crude slipped on Friday, while other regional grades and U.S. WTI Midland were steady after a lack of pricing indications. PLATTS WINDOW Indications are on a free-on-board (FOB) basis...
View ArticleHeavy oil discount tightens within narrow range
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Friday: WCS for October delivery in Hardisty, Alberta,...
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