Refined Products

Alaskan state officials, including the governor and energy officials, visited South Korea to discuss energy collaboration on Tuesday. This was in response to President Donald Trump's call for U.S. ally countries to join an stalled pipeline project. The American Chamber of Commerce in Korea said that the Governor Mike Dunleavy delegation included officials from the Glanfarne Group, which is a partner in a project to transport natural gas from Alaska's remote northern region via a $44-billion pipeline, and the state agency for gas. Dunleavy and South Korean Industry Minister Ahn duk-geun discussed energy issues including the Alaska LNG project and...

The oil prices were barely affected on Tuesday, as investors considered the impact of U.S. Tariffs on countries that buy oil and gas from Venezuela and the effect of tariffs in other industries like automobiles. Brent crude futures rose 1 cent to $73.01 per barrel at 0121 GMT. U.S. West Texas Intermediate Crude rose 1 cent to $69.12. Both benchmarks rose more than 1% after U.S. president Donald Trump announced that a 25% tax would be levied on countries that import oil and gas out of Venezuela. Investors are concerned that Trump's tariffs will slow down the economy and reduce...

Iranian oil shipments to China will likely fall after the new U.S. restrictions on a refiner, tankers and other vessels. This will increase shipping costs. However, traders expect buyers to find ways to continue to buy some quantities. Washington imposed new sanctions Thursday on entities, including Shouguang Luqing Petrochemical - a "teapot" or independent refinery located in the east China province of Shandong - and vessels that provided oil to these plants, which are China's top buyers for Iranian crude. The fourth round of sanctions against Iran's oil exports was imposed after President Donald Trump called for "maximum" pressure on...

Oil prices rose Friday and were on track for a second consecutive week of gains as new U.S. Sanctions against Iran and a plan by the Organization of Petroleum Exporting Countries (OPEC+), to reduce output, raised bets that supply would tighten. Brent crude futures rose 21 cents or 0.3% to $72.21 per barrel at 0435 GMT. U.S. West Texas Intermediate Crude Futures rose 25 cents or 0.4% to $68.32 per barrel. Brent and WTI are on track for weekly gains of about 2%. This is their largest weekly gain since the first weeks of 2025. The United States Treasury announced...

Oil prices rose early in Asian trading on Friday and were on track for their second weekly gain after U.S. sanction on Iran. A new OPEC+ production-cutting plan for seven members also raised expectations of tighter supply. Brent crude futures rose 42 cents or 0.6% to $72.40 a barrel at 0026 GMT. U.S. West Texas Intermediate Crude Futures rose 45 cents or 0.6% to $68.52 per barrel by 0026 GMT. Brent and WTI are on track for weekly gains of about 2%. This is their largest weekly gain since the first weeks of 2025. The United States Treasury announced new...

Demand for diesel fuel is strong in the US and Europe. Margins are reduced below seasonal levels in spite of tight supply Market uncertainty over global economic outlook affects diesel prices Ron Bousso LONDON 20 March - The Atlantic Basin diesel prices have been increasingly detached from the tightening of supply and demand, reflecting the growing concern about the global economic outlook. When prices don't match the facts, then something must give. Diesel, a refined fuel that is used in heavy construction, manufacturing and transport, can be a good indicator of industrial activity. This gauge currently points to a bullish...

Oil prices fell on Wednesday, after Russia accepted the proposal of U.S. president Donald Trump that Moscow and Kyiv temporarily cease attacking each other's infrastructure. Analysts say this could pave the path for Russian oil to eventually enter global markets. Brent crude futures fell 11 cents or 0.16% to $69.97 per barrel at 1130 GMT. U.S. West Texas Intermediate (WTI), which is also known as WTI, was down 12 cents or 0.18% at $66.78. On Tuesday, Russian President Vladimir Putin agreed to stop attacking Ukrainian power plants but did not endorse a 30-day ceasefire as Trump had hoped. Ashley Kelty,...

Oil prices fell on Wednesday, after Russia accepted the proposal of U.S. president Donald Trump that Moscow and Kyiv temporarily stop attacking each others' energy infrastructure. This could result in more Russian oil being imported to global markets. Brent crude futures fell 12 cents or 0.2% to $70.44 per barrel at 0106 GMT. U.S. West Texas Intermediate (WTI), which is a crude oil produced in the United States, lost 15 cents or 0.2% to $66.75. On Tuesday, Russian President Vladimir Putin agreed to stop attacking Ukrainian power plants but did not endorse a 30-day ceasefire as Trump had hoped. Russia...

Alaska's Governor and State Representatives will be visiting Japan and three other Asian Countries starting this week in order to court investors for the natural gas project that President Donald Trump claims could pump trillions into the U.S. Tim Fitzpatrick, spokesperson for the Alaska Gasline Development Corporation and Glenfarne Group, said that officials from both organizations will be visiting allied Asian nations "to inform industry leaders about Alaska LNG's competitive advantages and economics", and to discuss possible opportunities. Officials want to ship liquefied gas from Alaska's remote northern region to Japan, South Korea, and Taiwan via a 1,300 km (800...

The yields on shorter-dated U.S. Treasury bonds rose on Monday, as a segment of the closely watched retail sales report for February beat expectations. This week's Federal Reserve is expected to hold interest rates. The stock market's rally has also led to a reduction in demand for U.S. Government debt as a safe haven. The yields reached a new session high following the Control Group's retail sales figures for February, which rose by 1%. The trading was choppy as retail sales only posted a 0.2% increase, which was below the economists' expectations. You can either make positive or negative trends...

On Monday, longer-dated U.S. Treasury bonds fell while shorter-dated bonds rose amid concerns that the U.S. economy will slow down if the Federal Reserve maintains interest rates at their current level. The data released on Monday revealed a mixed economy. Retail sales increased 0.2% in February after a 1.2% drop in January that was revised downwards. However, the rise fell short of economists' expectations. Retail sales, excluding automobiles and gasoline, building supplies, food, and other services, increased by 1.0% in February, after a 1.0% decrease in January. These core retail sales are the closest to the consumer spending component in...

The American Petroleum Institute, a leading industry group, announced on Wednesday that U.S. producers of oil will meet President Donald Trump next Monday. An industry source said that the topic of discussion included tariffs, trade, and exports for liquefied gas. The API, whose members include ExxonMobil, Chevron, and other oil giants, was instrumental in putting together the meeting. When asked about the meeting, API spokesperson Bethany Williams said: "We are grateful for the opportunity to discuss with President Obama and his team how American oil, natural gas and consumer support is driving economic growth, strengthening national security, and supporting consumers."...

Oil prices fell on Monday, as investors assessed the prospects for ceasefire negotiations aimed at ending Russia-Ukraine War. This could lead to a rise in Russian oil being sold to global markets. Brent crude futures fell 25 cents or 0.4% to $71.91 per barrel at 0409 GMT. U.S. West Texas Intermediate Crude fell 20 cents or 0.3% to $68.08. Both benchmarks closed higher on Friday, recording a second weekly gain. This was due to the new U.S. sanction on Iran as well as the latest production plan of the OPEC+ producer groups. After discussions with Ukrainian diplomats on Sunday, a...

Early trading on Thursday saw oil prices rise on the back of a drop in U.S. gasoline inventories, and an increase in tensions in Middle East. Brent crude futures gained 40 cents or 0.57% to $71.18 a bar by 0213 GMT. U.S. West Texas Intermediate Crude (WTI), however, rose 34 cents or 0.51% to $67.50. Prices rose after U.S. data revealed a greater-than-expected decline in distillate stocks for the last week. Last week, distillate inventories (which include diesel and heating oils) fell by 2.8 millions barrels, which was more than the 300,00-barrel decline expected in a survey. The U.S. crude...

The oil price rose on Tuesday due to the Middle East instability, China's stimulus data and plans, and U.S. Tariffs. However, global growth concerns and Russia-Ukraine peace talks, as well as U.S. Brent futures increased 17 cents or 0.2% to $71.24 per barrel at 0350 GMT. U.S. West Texas Intermediate Crude Futures increased 14 cents or 0.2% to $67.72 per barrel. In a recent research note, ING analysts stated that "along with U.S. attacks on the Houthis of Yemen, several other factors supported the market." The Chinese government announced plans to boost consumption and retail sales, while fixed asset investment...

The International Energy Agency reported in its monthly report on the oil market that global oil supply may exceed demand this year by 600,000 barrels a day. This follows a downward revision of its demand growth forecast for 2025. The Paris-based agency stated that the surplus could increase by 400,000 bpd if OPEC+ continues to unwind its output cuts and fails in reining in overproduction against quotas. Calculations based on IEA figures show that the IEA’s February oil report suggested a slightly smaller surplus of about 500,000 bpd. The IEA has revised its forecast for oil demand growth in 2025...

The oil prices fell on Thursday, after a day of highs. Worries about the impact that intensifying tariff wars will have on the global economy and energy demand overshadowed the positive sentiment resulting from the larger than expected drawdown in U.S. gasoline stocks. Brent futures dropped 7 cents or 0.1% to $70.88 per barrel at 0107 GMT. U.S. West Texas Intermediate crude oil futures declined 11 cents or 0.2% to $67.57 per barrel. Both benchmarks rallied about 2% on Wednesday as U.S. government data showed tighter-than-expected oil and fuel inventories. Energy Information Administration (EIA), data released on Wednesday, showed that...

The oil prices rose early on Wednesday due to a weaker US dollar. However, mounting concerns about a U.S. slowdown, and the impact tariffs will have on global economic growth, capped gains. Brent futures rose by 27 cents or 0.39% to $69.83 a bar at 0110 GMT. U.S. West Texas intermediate crude futures rose 29 cents or 0.44% to $66.54 a bar. Daniel Hynes said that despite the weakening economy, oil remained in a positive market position. This is a good sign that the demand for crude oil in the near term remains strong. Oil prices rose as the dollar...

The oil prices dropped for a second consecutive day on Tuesday as fears grew over a possible U.S. economic recession, the impact that tariffs would have on global growth, and OPEC+'s focus on increasing supply. Brent futures dropped 6 cents or 0.1% to $69.22 per barrel at 0402 GMT. U.S. West Texas Intermediate Crude futures declined 13 cents or 0.2% to $65.90 per barrel. Donald Trump's protectionist policy has roiled global markets. Trump imposed and then delayed tariffs on Canada and Mexico, his country's two largest oil suppliers. He also raised duties on Chinese products. China and Canada responded with...

The oil prices dropped for a second consecutive day on early Tuesday, amid fears that U.S. Tariffs on Canada Mexico and China will slow down economies in the world. This could also hurt energy demand as OPEC+ increases its supply. Brent futures dropped 29 cents or 0.42% to $68.99 a bar at 0016 GMT. U.S. West Texas intermediate crude futures declined 36 cents or 0.55% to $65.67 a bar. Donald Trump's protectionist policy has roiled global markets. Trump has imposed and then delayed tariffs on the biggest oil suppliers of his country, Canada and Mexico. He also raised duties on...

Chery Automobile, a Chinese company, has filed for a Hong Kong initial public offering to raise funds for the development of new technologies and vehicles as well as expanding global markets and improving domestic production facilities. The filing to the Hong Kong Stock Exchange did not specify the size of the IPO, or the date that a listing could happen. CICC, Huatai Securities, and GF Securities are listed as joint sponsors. According to the filing, Chery's net profit jumped 59% in the first nine-month period of 2024 to $1,6 billion (11,3 billion yuan). Revenue grew 68%, to 182.2 billion Yuan....

Eight OPEC+ sources have said that OPEC+ members are debating whether or not to increase oil production in April, as planned, or to freeze it, as they struggle to understand the global supply situation due to new U.S. sanctions against Venezuela, Iran, and Russia. OPEC+ confirms its policy of supply a month in advance, so that buyers have enough time to order crude. The group has until the end of March to decide on its April production, but some sources claim that no consensus has yet been reached. Several sources have said that the United Arab Emirates would also like...

The price of oil rose for the second consecutive day on Tuesday, as new U.S. sanction imposed against Middle Eastern producer Iran raised concerns about a possible tightening in supply and global refining margins were strong. Brent crude futures were up 38 cents or 0.5% to $75.16 per barrel at 0401 GMT. U.S. West Texas Intermediate Crude Futures rose 47 cents or 0.7% to $71.17 per barrel. Both contracts rose in the Monday session following a $2 decline last Friday. "In the near term, I still think crude oil will be looking for a new base." "The new U.S. sanction...

S&P Global Commodity Insights (Platts), a commodities reporting agency that provides information on commodity prices, stated Monday that the dated Brent crude oil market is working well since U.S. WTI was added to it. Further changes are not expected, Platts said. The first year that WTI Midland was included in the Brent benchmark date after its inclusion in the basket began in May 2023 due to falling North Sea production, was also the first year in which it was the first crude oil grade outside of the North Sea. Platts announced on Monday that Brent oil 2024 is a smooth...