Heating Oil

?U.S. The Energy Information Administration reported on Tuesday that crude oil production in April was the highest ever recorded at 13.93 million barrels per day. This is the highest level on record. Producers increased output to counter higher oil prices due to the Iran War. EIA data show that production rose by 216,000 barrels per day in April. Production in New Mexico reached a record of 2,37 million barrels per day. Texas' crude production increased by 36,000 bpd to 5.83 millions bpd. This is the highest level since November. The Permian Basin is located in Texas and New Mexico, where...

The?U.S. The?U.S. The crack spread, which is calculated as the difference in price between U.S. ultra low sulfur diesel futures compared to U.S. crude benchmark West Texas Intermediate Futures, reached $62.84 a bar on Thursday. This was the highest level since June 3. The resilient diesel?refining economy reflects a cautious approach by traders who are wary about being caught out if tensions erupt again in the Middle East. The blockade of Strait of Hormuz has had a major impact on diesel markets, as it is critical for global supplies of fuel and Middle Eastern crude grades that are well-suited to...

Asia's crude oil imports are expected to return to pre-Iran Conflict levels, but the flow of refined products is still constrained. Fuel prices reflect this supply stress. According to data compiled by Kpler, the world's largest energy consumer region is expected to import 22.18 millions barrels of crude per day in June. This represents an increase from 20.35million bpd imported in May. The arrivals in June are still below the 26.76m bpd average for the three months leading up to the United States' and Israel's attack on Iran, which took place on February 28. The figures are still well above...

Asia's crude oil imports are expected to return to pre -Iran Conflict? levels, but the flow of refined products is still constrained. Fuel prices reflect this supply stress. According to data compiled by Kpler, the world's largest energy consumer region is expected to import 22.18 millions barrels of crude per day in June. This represents an increase from 20.35million bpd imported in May. The arrivals in June are still below the 26.76m bpd average for the three months leading up to the United States' and Israel's attack on Iran, which took place on February 28. The figures are still well...

Energy costs are squeezing soybean and grain growers in the U.S. Farm Belt as the Iran War chokes fuel supply through the Strait of Hormuz, pushing diesel prices to record highs. Farmers were already under pressure and faced a fourth consecutive year of shrinking margins due to a resurgent dry spell, high input costs, and the fallout from President Donald Trump's policies on trade, which has impacted crop prices. Diesel prices in the Midwest, America’s main corn- and soybean-producing region rose to record highs as a result of the conflict in May. This was just as farmers were ramping up...

The Energy Information Administration reported on Thursday that U.S. distillate fuel oil stocks sank to a 23-year low last week as the Iran War continues to choke off global fuel supplies, and increase demand for U.S. petroleum products and crude. Stockpiles of distillates, including diesel and heating oil in the?country, dropped by?2.1m barrels during the week ending May 22, to a total of?100.8m barrels. This is the lowest level since May 2003. Analysts expected a drop of 1.02 million barrels. We'll continue to see U.S. "We're going to continue to see?U.S. Since the Strait of Hormuz was closed, which blocked...

According to traders, analysts and exchange data, there were a series of well-timed bets made on the falling oil price in March and April, totaling up to $7 billion. These bets were spread over multiple exchanges, types of fuel, and derivatives, just before Donald Trump's major announcements about Iran policy. The amount exceeds the $2.6 billion in?bets that were previously reported, and has already led to the U.S. Administration?warning staff not to use nonpublic information as a means of financial gain. A?person with knowledge of the matter said in April that the U.S. Commodity Futures Trading Commission is investigating. However,...

According to analysts, traders and market experts, there were a series of well-timed "market bets" on falling oil prices that totaled $7 billion between March and April, spread across different exchanges, types of fuel, and derivatives, just before Donald Trump's major announcements about Iran policy. The amount of the bets exceeds previous reported wagers totaling $2.6 billion. This has already led to the U.S. Administration to warn staff against using confidential information to their financial advantage. A 'person familiar with this matter' told a CFTC official in April that the U.S. Commodity Futures Trading Commission is conducting an investigation. However,...

The Energy Information Administration reported on Tuesday that U.S. crude oil production fell the most in two years last month following a'severe winterstorm' which knocked production offline?in large parts of the country. The EIA data showed that U.S. crude output dropped 410,000 barrels a day in January, compared to the previous month, to 13,25 million barrels a day, the lowest level since February 2025. The EIA reported that the total U.S. crude and petroleum product consumption fell by 201,000 barrels per day in January to 20.7 millions bpd, which is the lowest level since November '2025. The demand for gasoline...

Oil is expensive, especially for Americans, who spend a lot of money and are involved in a lot of energy-intensive economic activity. The average U.S. customer is better prepared than ever to cope with oil priced at $100 per barrel, despite the fears. The U.S. household is the wealthiest it has ever been, in nominal terms. In relative terms, they've never been any better. The unemployment rate is historically low.?And, perhaps more importantly, energy and gas account for an historically small portion of?consumption. It may be that U.S. equities outperformed those of their global peers after the joint U.S. and...

Keir starmer, the Prime Minister of Britain, called a national meeting to discuss the economic fallout from the war in Iran. The escalating conflict has led to the highest government borrowing costs since the 2008 global crisis. Early this week, the storm on financial markets intensified after Iran threatened to strike energy and water systems in Gulf countries if U.S. president Donald Trump followed through with his threat to attack Iran's electrical grid. Britain's dependence on imported gas, high inflation, and stretched public finances has pushed government bonds to a steeper decline than their international counterparts. The "Cobra" (a cabinet...

The crude oil markets still price in a resolution of the Middle East conflict that will result in the full opening of the Strait of Hormuz. In pricing this outcome, the market actually makes it more likely that the narrow waterway which serves as a channel for as much as 20 percent of the world’s oil supply remains closed. The market still expects U.S. president Donald Trump to deliver TACO - the acronym for Trump always?Chickens out. Trump can continue the conflict by maintaining the price of paper crude oil below the level that would allow for a return to...

After the U.S. and Iran deal to end the Middle East conflict, spot premiums for crude oil in Asia are back to their pre-war level. However, caution over how soon normal shipping will resume is keeping the oil markets afloat. Prices fell across the board after U.S. president Donald Trump announced that a preliminary deal had been signed. Details have not yet been released, and the U.S. as well as Iran say that a permanent ceasefire is still being negotiated. Dubai's premium for swaps on Middle East crude returned to its pre-war level of $2.06 a barrel on Monday. This...

Analysts and trade sources reported that South Korea's refiners increased jet fuel exports to pre-Iran War levels in May, helped by an increase in?crude oil imports, and encouraged by the robust margins of refining. The rebound of?one of Asia’s top fuel exporters as seen in a series of spot cargo sales has eased concerns about a tight supply, and helped to cool down prices in the area. In the last two weeks, spot premiums on aviation fuel fell by 50% to about $2 per barrel. This compares to a record-high of more than 20 dollars in March. Data from Kpler...

The ME 1 The U According This Due The Sales Na Below Figure Stock Per Product Below The Country...

According to LSEG data and other market sources, Russia's seaborne exports of oil products rose 10% a month on average in the first fifteen days of May as key ports re-established fuel loadings. The release of fuel inventories accumulated during previous disruptions due to drone attacks was the main driver for fuel export growth, traders reported. However, May shipments were still limited by unplanned and seasonally-related refinery maintenance as well as rising domestic demand. Primorsk is the largest port in Russia for the export of ultra-low sulphur (ULSD) diesel. In the first half, it loaded 710,000 tons of ULSD, which...

The impact of the 'crisis' on the physical fuel markets has worsened. Prices for crude oil futures fluctuated in line with headlines about the conflict between the United States, and Iran. Brent contracts fell 7.8% to close at $101.27 per barrel on Wednesday, despite the fact that a sustained and full reopening of the 'Strait of Hormuz is still a long time away. The United States and Israel's February 28th attack on Iran has led to a reduction in the volume of refined products shipped throughout Asia. The Strait of Hormuz is the main energy-consuming region in the world and...

Pacific nations far from home are feeling the effects of a global fuel shortage. Authorities scramble to manage their energy supply, while families struggle with fuel restrictions and higher food prices. The U.S. and Israel war against Iran is disrupting traffic through the Strait of Hormuz which carries around 20% of the world's oil flows. Aid agencies 'warned' that the crisis had caused diesel, petrol, and kerosene prices to rise by up to 70% in Papua New Guinea following the Iran war. Godfrey Bongomin is the director of programme operations for World Vision Papua New Guinea. He said that many...

Keir starmer, the British prime minister, will pledge on Monday to help "working people", whose cost of living is being exacerbated by the conflict in the Middle East. He will warn companies not to try to "exploit" this crisis by raising prices. Starmer's latest effort to calm British concerns about the Strait of Hormuz conflict, which has effectively closed the Strait of Hormuz as a vital waterway that transports oil and liquefied gas, will be "to assist you in the cost of living through this crisis". Finance Minister Rachel Reeves announced on Saturday that the government would provide "targeted support"...

In an interview with?Saturday, Finance Minister Rachel Reeves stated that the British government was looking at providing "targeted support" for the poorer households in order to offset the impact of the rising energy costs caused by the conflict?in the Middle East. Reeves, a Times reporter, said that the government is looking into?options? to help those affected by sharp increases in energy prices. This includes those households who rely on heating oil. However, he ruled out a universal program for all homes, stating it would not be affordable. Labour, which is trailing the populist Reform UK Party in the polls, has...

Crude oil futures prices'reflect a view of the market that it can successfully navigate through the Iran War, while the prices for physical cargoes or refined products signal an imminent crisis. One of these signals is not the case in the paper oil market. Brent crude futures for the global benchmark ended Wednesday at $91.98 per barrel, an increase of 4.8% over the previous close, but down from the brief spike that occurred on March 9, when they reached $119.50 - the highest price in almost four years. On the physical market, on Wednesday the premium of a physical cargo...

The United States, China and other major countries are making miscalculations, and retreating to their narrow interests, which threaten to turn the conflict in Iran into an international crisis for the supply of refined oil products. The media focuses a lot on the price for crude oil. Brent crude futures, which are the benchmark, jumped up to 20% in the early Asian trading on Monday, reaching $111.04 per barrel. This is the highest level since July 2022. The price of refined fuels, such as gasoline, jet fuel and diesel, has risen even more than crude oil. These are the fuels...

Asia is heavily dependent on Middle East oil and gas, with 60% of its crude coming from this region. This makes it vulnerable to a prolonged shutdown of the Strait of Hormuz as a result of the Iran War. How much Middle East oil does Asia import? The Middle East is the largest oil producing and exporting region in the world, shipping?one out of four barrels of crude oil daily, most of which are exported through the Strait of Hormuz. According to shipping analytics firm Kpler, Asia will import 14.74 million barrels of Middle Eastern crude per day in 2025....

Two traders said that India's Mangalore Refinery has declared force majeure for all gasoline exports due to the Middle East conflict, which has disrupted crude oil flows from the Gulf. Two traders who said they had received a notification from the company said that MRPL had invoked force majeure. This is a legal term that allows a business to invoke circumstances beyond their control in order to?not fulfill a contract' for its gasoline sales for March and April. The state-run ?refiner, which operates a 500,000-barrel-per-day refinery in the southern state of Karnataka, exports about ?40% of its refined fuel output....