Middle East escalation pushes energy prices higher
The impact of losing Iranian oil supply Oil prices briefly broke above $80/bbl as the market waits to see how Israel responds to Iran’s latest missile attack. Clearly, growing tensions have seen the...
View ArticleDiscount on Western Canada Select heavy crude narrows
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Wednesday: * WCS for November delivery in Hardisty, Alberta,...
View ArticleSingapore’s middle distillates stocks fall as net exports gain
Singapore’s middle distillates inventories edged down by 1.4% week on week as net exports of both diesel/gasoil and jet fuel/kerosene both gained, though Middle East diesel/gasoil barrels stayed...
View ArticleOil retreats, but heads for weekly climb on potential Mideast supply disruption
Oil retreated on Friday after settling higher the previous day, but prices remained set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad...
View ArticleThe Commodities Feed: Volatility continues for the energy market
Energy – US natural gas recovers Oil prices recovered yesterday as the market switched back to focusing on supply concerns. Over the past few sessions, the oil market has been constantly vacillating...
View ArticleRussia’s largest oil refinery lifts 9-month crude processing by 4%, Gazprom says
The Omsk oil refinery, Russia’s largest by production volumes, increased crude processing by 4% year-on-year in the January to September period thanks to a modernisation of its facilities, energy giant...
View ArticleDifferential for Western Canadian Select at Hardisty strengthens to 15-month...
The differential for Western Canadian Select at Hardisty, Alberta rose to its highest level in more than 15 months, with traders attributing this rise to an escalation in tensions in the Middle East....
View ArticleBP says weak refining margins to dent Q3 profit as fuel demand stalls
Weak refining margins due to a slowdown in global demand for fuel and lower oil trading results will dent BP’s BP.L third-quarter profit by up to $600 million, the British oil major said on Friday....
View ArticleMiddle East Crude-Murban falls for third straight session; Dubai, Oman rise
Middle East crude benchmark premiums for Oman and Dubai rose slightly on Friday, but Murban fell for a third consecutive session. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps rose 10 cents to...
View ArticleDangote eyes first oil from Nigerian blocks in weeks: source
The owner of West Africa’s biggest refinery, Dangote Group, is looking to start production at its two Nigerian oil assets in the fourth quarter of 2024, after enduring months of crude supply woes, a...
View ArticleWhat the Middle East conflict means for oil and LNG
Heightened geopolitical tension in the Middle East has become a disturbingly recurrent theme this century, just as it did in the last. The locus of conflict might shift each time and so, too, the...
View ArticleIraq, Libya declines lead 500,000 b/d drop in OPEC+ Sept output: Platts survey
OPEC+ crude oil production fell 500,000 b/d month-on-month to 40.23 million b/d in September, largely due to a major shutdown in Libya and cuts to Iraqi exports, refinery runs and direct burn, the...
View ArticleFatal gas leak at Texas oil refinery prompts investigations
U.S. and Mexican investigators have begun probes of a fatal chemical leak at a Houston area oil refinery on Thursday owned by Mexico’s state oil firm Pemex, officials said on Friday. Two contract...
View ArticleUS drillers add oil and gas rigs for first time in four weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,...
View ArticleDrilling activity in US Rockies, Midwest fell for seventh quarter in a row,...
Oil and gas activity in the U.S. Midwest and Rockies declined during in the third quarter, marking its seventh consecutive quarterly drop, according to survey results released on Friday by Federal...
View ArticleUS Cash Crude-Grades mixed as both domestic supply and demand tick higher
U.S. cash crude grades were mixed on Friday, dealers said, as domestic refinery demand is set to grow while supply in both the U.S. and abroad is also set to rise. U.S. oil refiners are expected to...
View ArticleMed crude-Urals diffs steady, Azeri BTC premiums down in a deal
Urals crude oil differentials kept stable on Friday in muted trade, while Azeri BTC weakened after a deal in the afternoon trading window, Reuters sources said. Libya’s national oil corporation (NOC)...
View ArticleOil prices may climb higher amid risk of Middle East supply disruptions
Oil prices jumped last week after Iran struck Israel in a missile attack, raising the prospect of possible disruptions to supplies of crude from the Middle East. While there’s been persistent...
View ArticleBrazil expects to add to LNG competition over winter: sources
Low hydro reservoirs because of recent heat waves in Brazil has sparked strong buying interest for waterborne LNG cargoes, with traders expecting the country to heighten the global race for the...
View ArticleSoutheast Asia’s bright gas demand outlook may disappoint
Southeast Asia is fast becoming a key growth market for natural gas, and on paper has an aggressive development pipeline for gas-fired power stations that if completed would ensure the region would be...
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