Oil Refineries

The U.S.-Iran diplomatic relationship has resulted in a reduction of gasoline prices for Americans. This is the sixth consecutive 'weekly drop, and a 15% decrease from the peak reached in May. According to GasBuddy, the?national average gasoline price fell by 14.1 cents per gallon in the past week. It was $3.85 a gallon on Sunday. Prices fell in the majority of states. GasBuddy data revealed that gasoline prices dropped by 25 cents per gallon over the last week in Colorado, 22 cents in Arizona, and 21 cents (per gallon) in Ohio. This drop could ease the pressure on 'U.S. Donald...

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...

U.S. retail gasoline prices fell below $4 per gallon for first time since April, as optimism grew about a preliminary agreement between the U.S. and Iran, which could lead to a reopening of Strait of Hormuz - a vital passageway for oil supplies around the world. Crude oil prices fell by more than $4 per barrel after U.S. president Donald Trump announced the U.S.-Iran had signed a Memorandum of Understanding to end the near four-month conflict. However, it is still unclear whether this agreement will last. The drop in fuel prices may provide some relief for the Trump administration. They...

U.S. retail gasoline prices fell below $4 per gallon for a first time since mid-April. This was due to optimism that a preliminary deal between the U.S., Iran, and other countries would lead to the reopening of Strait of Hormuz – a vital passageway for oil supplies around the world. Crude oil prices fell by more than $4 per barrel after U.S. president Donald Trump announced the U.S.-Iran had signed a Memorandum of Understanding to end the near four-month conflict. However, it is still unclear whether this agreement will last. The drop in fuel prices may provide some relief for...

Witnesses reported that fuel stations in the Russian-held Crimean Peninsula?were?out of petrol on Thursday as the escalating Ukrainian campaign to cut off supply lines into the peninsula?. A? A witness in Sevastopol said that most petrol stations in the city were out of fuel. Supplies are struggling to keep up even with the recent rationing. Another said that in Yevpatoriya's resort town, there was a queue of people waiting outside the only petrol station. Ukraine has intensified drone strikes against supply lines for the peninsula that Russia captured from Kyiv in 2014. Local authorities have implemented fuel rationing, and some...

The record volume of U.S. crude oil arriving in Asia is not enough to compensate for the loss of cargoes due to the closure of the Strait of Hormuz. Asia's imports from the U.S. of crude oil were 63.56 millions barrels in May. This was the highest for a month, although at 2.05 million barrels daily (bpd), they were only slightly behind?the 2.07 million bpd that came out of June 2023. Kpler has tracked arrivals of 2,32 million bpd for June and 3,07 million bpd for July. The average import of U.S. Crude by Asia in the three-month period ending...

Local authorities reported on Tuesday that the Ilsky oil refinery, located in southern Krasnodar, caught fire overnight after an Ukrainian drone attack. This is part of Kyiv’s campaign to starve Russia’s economy of its oil revenues. Kyiv has targeted Russia's energy grid in a systematic effort to limit Moscow’s ability to fund its four-year-old war in Ukraine, at a time when global oil prices are high. The Ukrainian General Staff confirmed that it has'struck again' the Ilsky refinery, stating that?the facility produces fuel for the Russian Army fighting in Ukraine. There was no immediate word on whether the refinery, which...

The record volume of U.S. Crude Oil is now arriving in Asia. However, it's not enough to compensate for the cargo losses caused by the effective closure of the Strait of Hormuz. Asia's imports from the U.S. of crude oil were 63.56 millions barrels, which was the highest for a single month. However, at 2,05 million barrels per a day (bpd), they were only slightly behind the 2.07 million bpd in June 20223. Kpler has tracked arrivals of 2,32 million bpd for June and 3,07 million bpd for July. The average import of U.S. Crude by Asia in the three-month...

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...

U.S. refiners have finally started to make money from renewable fuels. They had been squeezed for years by government mandates on biofuels. The U.S. and Israeli 'war on Iran' has also led to a rise in diesel prices. The U.S. Environmental Protection Agency (EPA) mandated in late March that refiners mix record volumes of biofuels into gasoline and diesel for this year and the next. The plan calls for a 60% increase of the use of renewable diesel and biodiesel, as well as a requirement that gasoline be mixed with 15 billion gallons ethanol each year. These mandates have forced...

The Financial Times, citing a recent interview with Aliko Dangote, reported that the Nigerian billionaire is considering?Kenya for the location of an oil refinery capable of producing 650,000 barrels per day. Dangote stated in the interview that he was leaning towards Mombasa, because it has a larger and deeper port. This report follows Kenyan President William Ruto's?statement last month that East African nations were discussing plans to build a 'joint oil refining facility at the Tanzanian Port of Tanga, which is modelled on Nigeria's Dangote operations. Dangote, in an interview, compared Mombasa, Kenya, to the port of Tanga, Tanzania, and...

The impact of the 'crisis' on the physical fuel markets has worsened. While crude oil futures prices have fluctuated in line with headlines regarding 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...

After the Iran conflict, when oil flows were disrupted and costs rose, India began to buy Russian coal and crude oil to boost its energy supplies. According to Kpler, commodity analysts, the world's third largest oil importer will see Russian crude arrivals surge to a new record of 2,55 million barrels a day (bpd). The imports of Russian goods in June?would have been higher than the 2.13million bpd recorded in May. This was?the?third-highest record, and only behind the 2.16million bpd registered for May 2023. In June, Russia's share will be slightly less than 50% of India's total crude oil imports...

Kpler and LSEG data shows that India's exports to Europe of?jet-fuel from Russia have risen to levels not seen before the EU imposed a ban on russian-origin fuel in January. Data from Kpler indicates that the EU imported 62,000 barrels of jet fuel per day from India's Jamnagar Refinery to Italy. LSEG data also shows that the EU imports around 64,000 bpd?fuel. Both data platforms indicate that imports have been at their highest level since December 2025, when they were around 89,000 bpd. The European Union banned products made from Russian oil on January 21, aiming to curb oil revenues...

Official data on Thursday showed that oil product inventories in Asia's main trading hub Singapore fell to their lowest level?in almost 13 years. This was due to a'sharp' decline in residual fuel stocks as the Middle East conflict continued. Enterprise Singapore's data shows that the combined onshore oil products stocks fell to 34.41 millions barrels during the week ending June 10. This is the lowest level since July 2013. The oil inventories at global storage hubs are shrinking, as Middle Eastern shipments continue to be curtailed by the U.S. - Iran?war. In the week ending June 10, inventories of residual...

NATO fighter jets shot down on Monday a 'drone' that entered Latvian airspace from Russia, according to the Baltic nation's military. This is the latest incident in a long line of security incidents near Europe's eastern borders. The origin of the drone was not immediately known. In recent months, Ukraine has increased its long-ranged drone attacks against Russia, including the Baltic Sea region, where several Ukrainian military aircraft have entered the airspace of Finland and Latvia. In a social media post, the Latvian army stated that "Allied fighter 'jets successfully shot down a drone which was flying into Latvian Airspace!"...

Alexander Novak, the Deputy Premier, said that the Russian oil production had fallen since the beginning of the year. He blamed the drop on unplanned refinery maintenance. Novak's remarks mark the first time that a Russian official acknowledged a decline in production this year. In April 2023 the world's third largest oil producer stopped publishing data about oil production, less than a year after it began its war with Ukraine. Novak didn't specify the reason for the refinery repairs, but Ukraine intensified its attacks on Russian refineries over recent months. Novak, a reporter at the St Petersburg International Economic Forum,...

Volodymyr Zelenskiy, the President of Ukraine, said on Monday that Ukraine was now capable of 'hitting Russian logistical?throughout occupied areas of Ukraine' and had caused shortages of fuel throughout Crimea and Russian-held regions. In his video nightly address, Zelenskiy said: "Our troops can now reach Russian military logistic across the?entire depth of the temporarily-occupied territories." "In reality, there are virtually?no roads safe for the occupiers in the south and the east of our country." In recent months, Ukraine has intensified its?strikes against targets at medium range and others hundreds of kilometers away from Ukraine's border. It is focusing on Russia’s...

China's imports of crude oils by sea fell to their lowest level in nearly 10 years in may as a result of the Iran War. This led to a drastic reorganization of operations for the world's largest oil importer. According to data compiled by Kpler, seaborne arrivals of crude oil were down to 6.36 million barrels each day in May from 8.10 in April. This was the lowest since October 2016. The imports also fell by a little over half of the 11,39 million bpd that Kpler recorded for February. This was the 'last full month' before the U.S.-Israeli attack...

Officials said that falling?debris? from drones caused a fire to start at an oil terminal in Russia's Black Sea port of Novorossiysk. Two people were injured. In a Telegram post, the General Headquarters of southern Krasnodar region said that several administrative and technical buildings were on fire. It said that debris had fallen onto the oil storage terminal of the facility. Emergency services were on the scene, according to the headquarters. The injured men were in the street at the time the drones struck the port. They are now being treated in hospital. Unofficial Russian and Ukrainian Telegram channels have...

The Latvian armed forces announced on Thursday that at least one drone was flying in the country's airspace, and that NATO fighter jets had been activated to combat the threat. This is the latest of a number of security incidents in this region. In recent months, Ukraine has increased its long-ranged drone attacks against Russia, including through the Baltic Sea. Several Ukrainian military drones have also strayed into the airspace of NATO member countries Finland, Latvia and Lithuania. The Latvian Armed Forces posted on the social media platform, X, that "we confirm there is at least one unmanned aircraft" in...

According to official sources, almost all of the major oil refineries in central Russia have been forced to reduce or halt their fuel production due to recent drone attacks by Ukraine. Moscow has already banned gasoline exports from April to the end of July. Refineries which have stopped operations or are partially stopped, together, produce more than 83 million tons of?product per year. This is approximately 238,000 tons a day. According to anonymous sources and data, this represents around a quarter of Russia's entire refining capacity. Over 30% of Russia's gasoline is produced by refineries, and around 25% by diesel....

According to official sources and data, almost all major oil refineries located in central Russia have been forced to halt or reduce their fuel production following recent drone attacks by Ukraine. Moscow has already banned gasoline exports from April to the end of July. Refineries which have stopped operations completely or partially, together, produce more than 83 million metric tonnes per year. This is approximately 238,000 tons of oil per day. According to anonymous sources and data, this represents a quarter of Russia's entire refining capacity. Over 30% of Russia's fuel is produced by refineries, and around 25% by diesel....

Lithuania issued an "air danger" alert on Wednesday, asking people to take cover and suspending traffic at the airport in the capital amid fears that drones could violate Lithuania's airspace. Lithuanian army sent a message to the people of the capital saying, "Immediately seek shelter in a secure place. Take care of those you love and wait for new recommendations." The extent of the distribution was not immediately apparent. The Vilnius Parliament building was also issued with a warning. An announcement was made on the intercom of the parliament. The Lithuanian national crisis management center earlier said it had issued...