Asia-Pacific medium sweet crude premiums to stay supported as cracks strengthen
Cash premiums for March-loading barrels of Asia-Pacific regional medium sweet crude are expected to remain supported due to tighter supplies and stronger cracks amid the new sanctions on Russia....
View ArticleOil set for fourth week of gains as investors assess US sanctions impact
Oil prices edged up on Friday, heading for a fourth consecutive week of gains, as the latest U.S. sanctions on Russian energy trade heightened expectations for oil supply disruptions. Brent crude...
View ArticleMiddle East: Benchmarks rally on strong demand, tripling in the week
Middle East crude benchmarks extended their rally on Friday and ended this week at a level of $5 per barrel, about three times higher than last Friday. The sharp gains among Murban, Dubai and Oman...
View ArticleRussia’s ESPO Blend crude value plunges as buyers vanish, freight rates surge
Far East Russia’s ESPO Blend crude values plunged to 17-month lows as Russian oil trade froze following the Jan. 10 sanctions on the country’s energy sector while shipowners demanded increasingly lofty...
View ArticleA look back at our forecast for global crude oil prices in 2024
Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year that we had forecast in our January 2024 Short-Term Energy Outlook (STEO) and more in-depth...
View ArticleOil set for fourth week of gains on US sanctions
Oil prices edged lower on Friday but remained on course for a fourth consecutive week of gains, as the latest U.S. sanctions on Russian energy trade added to worries about oil supply disruptions. Brent...
View ArticleNorth Sea Crude-Benchmark values unchanged
North Sea Forties was bid in the Platts window on Friday below where the grade last traded, while U.S. WTI Midland was offered above the last deal level, leaving differentials for both grades unchanged...
View ArticleUrals differentials steady, freight costs up by a quarter
Urals crude differentials to dated Brent were unchanged on Friday, while freight rates for Russian oil shipments rose by 25% this week amid fresh U.S. sanctions, traders said. The U.S. imposed...
View ArticleUS drillers cut oil and gas rigs to lowest since Dec 2021, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row to the lowest since December 2021, energy services firm Baker Hughes said in its closely...
View ArticleDiscount on Western Canada Select heavy crude widens
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Friday: * WCS for February delivery in Hardisty, Alberta, settled at...
View ArticleMiddle East crude derivatives hit record high in 2024; ICE Dubai traded...
The total traded volume for key crude oil futures contracts across all three major exchanges rose in 2024, with Intercontinental Exchange and ICE Futures Abu Dhabi breaking record highs in a year that...
View ArticleGlobal diesel prices spike as US hits Russia with new sanctions
Global diesel prices and refining margins spiked following the latest round of U.S. sanctions on Russia’s oil trade on expectations the measures would tighten supplies, according to analysts and LSEG...
View ArticleAsia LNG physical MOC activity weakens for Feb JKM on holiday season, surplus...
The Asia LNG physical Market on Close assessment process for the February JKM pricing period — Dec. 16-Jan. 15 — saw a decline in activity as trading houses and portfolio companies reduced operations...
View ArticleOil traders make big bets on Trump policies. The path for prices isn’t so clear.
U.S. prices have gained nearly 9% year to date ahead of the presidential inauguration The volatility seen in oil prices in the new year has a lot to do with Donald Trump – and he doesn’t even...
View ArticleChina response key to crude oil after new sanctions on Russia
“This time it’s different” is a well-worn cliché that seems to be getting another whirl with the latest U.S. sanctions against Russia’s crude oil exports. Oil prices jumped in the wake of the new...
View ArticleThe Commodities Feed: Inauguration day
Energy – Specs add to Brent long Despite the rally in crude oil prices running out of steam towards the end of last week, ICE Brent still managed to settle almost 1.3% higher on the week and remain...
View ArticleOil slips as investors eye Trump move on Russian export curbs
Oil prices fell on Monday as expectations of U.S. President-elect Donald Trump relaxing curbs on Russia’s energy sector in exchange for a deal to end the Ukraine war offset concern of supply disruption...
View ArticleLibya sees brownfields, local investment key to reaching 2 mil b/d oil target
Libyan officials are looking to local investment and maintenance programs to increase oil production to 2 million b/d within the next three years, they said during the Libya Energy & Economic...
View ArticleMiddle East Crude-Benchmarks ease after strong rally; focus on Trump policy
Middle East crude benchmarks Oman, Dubai and Murban eased on Monday, following a sharp rally in the previous week driven by strong demand amid U.S. sanctions on Russia. The Biden administration...
View ArticleRussia’s Baltic oil shipments fall 10% after EU sanctions, Finland says
Russia’s oil shipments via the Baltic Sea fell by roughly 10% in the last four months of 2024, the Finnish Border Guard said, as the impact of EU sanctions against Russian oil and gas exports adopted...
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