Trump tariffs on Canadian and Mexican imports set to drive up refined product...
Market sources are anticipating a potential rise in the cost of refined products in Latin America due to the 25% tariffs on imports from Canada and Mexico announced by US President Donald Trump, set to...
View ArticleBig Oil bleak on refining profits going into 2025
Big Oil executives this week saw little prospect of a near-term improvement in refinery profits after Chevron, Exxon Mobil and Shell all reported fourth-quarter earnings that were hit hard by a...
View ArticleMonthly global base oils outlook
Asia The Asia base oil market experienced varied price movements in January due to Lunar New Year preparations, plant turnarounds, and shifting supply flows. Trading activity was subdued at the month’s...
View ArticleTrump’s tariffs to have limited impact on oil, gas prices, Goldman Sachs says
The new tariffs imposed by U.S. President Donald Trump on imports from Canada, Mexico, and China are likely to have a limited near-term impact on global oil and gas prices, Goldman Sachs said in a note...
View ArticleNatural gas spot prices fell across key regional trading hubs in 2024
Average natural gas spot prices at most major trading hubs in the Lower 48 states declined in 2024 compared with 2023 in real terms, according to data from Natural Gas Intelligence. Inflation-adjusted...
View ArticleRussia’s Novak says OPEC+ discussed Trump call to raise oil output
Russia’s Deputy Prime Minister Alexander Novak said on Monday the Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group of leading oil producers discussed U.S. President Donald Trump’s call...
View ArticleThe Commodities Feed: Tariffs delayed
Energy – No change to OPEC+ output policy The oil market gave back a lot of its gains yesterday after Mexico and Canada came to a deal with the US, which saw a delay in the implementation of tariffs....
View ArticleU.S. crude prices down nearly 2% as levies on China take effect
U.S. crude prices fell by nearly 2% on Tuesday as U.S. tariffs on China took effect, though President Donald Trump paused for a month a decision on steep levies on neighbours Canada and Mexico. U.S....
View ArticleTengiz expansion a milestone in ‘strategic’ Kazakhstan relationship: Chevron
Kazakhstan is a “strategic partner” for Chevron and the US major will continue working to maximize oil recovery from the Tengiz field following a $49 billion expansion now ramping up, with more...
View ArticleIraq denies involvement in Iranian oil trade
Iraq denied its involvement in purchasing, receiving, or re-exporting Iranian crude oil to help Iran “evade sanctions,” emphasizing that its export operations are subject to strict controls. All...
View ArticleMiddle East Crude-Benchmarks decline as oil prices fall on U.S. tariffs on China
Middle East crude benchmark spot premiums of Oman，Dubai and Murban all declined on Tuesday as U.S. crude prices fell by nearly 2% with U.S. tariffs on China taking effect. China on Tuesday launched...
View ArticleExclusive: BP poised to invest up to $25 billion in Iraq’s Kirkuk oil and gas
Oil major BP (BP.L), is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas fields, a senior Iraqi oil official told Reuters, as Baghdad seeks to win...
View ArticleUS gas production nears record high as E&Ps relay caution about growing too fast
US natural gas output stands near an all-time high as a period of strong demand and improved prices enable a production resurgence, but some producers are already communicating their intent to keep...
View ArticleTrump’s oil tariffs a boost for European and Asian refiners
US President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their US rivals, analysts and market participants...
View ArticleU.S. crude oil inventories up last week: API
The American Petroleum Institute (API) on Tuesday reported an increase of 5.025 million barrels of crude oil in U.S. inventories for the week ending Jan. 31. Analysts expect a hike of 3.170 million...
View ArticleThe Commodities Feed: Retaliatory tariffs vs Iranian sanction risk
Energy – China retaliatory tariffs There were two key factors influencing oil prices yesterday, firstly downward pressure came from China announcing retaliatory tariffs against the US, which included...
View ArticleOil dips amid rising US crude inventories, Sino-US tariff war
Oil prices dipped on Wednesday as rising U.S. stockpiles and concern about a new Sino-U.S. trade war fuelled fears of weaker economic growth, offseting U.S. President Trump’s renewed push to eliminate...
View ArticleMiddle East Crude – Benchmarks rise after Trump restores pressure on Iran
Middle East crude benchmarks Oman, Dubai and Murban ticked up on Wednesday, after President Donald Trump’s renewed push to eliminate Iranian crude exports. Trump on Tuesday restored his “maximum...
View ArticleIndia’s natural gas use target hinges on higher gas-fired power generation
India’s plan to boost the share of natural gas in its energy mix hinges on lower global liquefied natural gas (LNG) prices that will make gas-fired electricity generation more competitive, industry...
View ArticleOil inches up on Kazakhstan supply disruption
Brent crude oil prices advanced on Tuesday adding to gains in the previous session after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, but gains were capped...
View Article