Refined Products

The oil prices rose more than 6% Monday after falling more than 9% on Friday. This was due to the news that the Strait of Hormuz has been closed once again. Both the U.S. Brent crude futures rose $6.11 or 6.76% to $96.49 per barrel at 2327 GMT. U.S. West Texas Intermediate is now $90.38 per barrel, an increase of $6.53 or 7.79%. U.S. president Donald Trump said on Sunday that the U.S. military had seized an Iranian ship which tried to break its blockade. Iran, however, refused to participate in the second round of talks despite Trump’s threat of...

Two people familiar with the plant's operations said that Valero Energy Corp. has partially restarted their 380,000 barrels per day Port Arthur, Texas refinery after an explosion and fire on March 23. Valero repairs the heater on the 210,000 bpd crude distillation unit (CDU) while the production line of the 115,000 bpd CDU is running. This production line is closed. A Valero spokesperson failed to respond to a question for comment. During an inspection of the units of the refinery following the 23 March shutdown of the unit due to the fire, Valero found a damaged tube within the AVU-146?heater....

The U.S. president Donald Trump is expected to try and dismiss concerns about the economy and the sagging prospects of the Republican Party this week during a swing-style campaign through the battleground state of Arizona and Nevada, while the war with Iran?pushes up gasoline prices. Trump will use his Thursday stop in Las Vegas to promote his immigration and tax bill, which includes promises for?court hourly? and hospitality workers. The soaring prices of everything from groceries to gas, to housing and insurance have shaken up the U.S. economic system. This has also affected Trump's ability to rally conservatives for November's...

The U.S. president Donald Trump is going to try and brush off concerns over the economy and the sagging prospects of his Republican Party this week during a campaign style swing through battleground states Nevada and Arizona, while the war with Iran drives gasoline prices higher. Trump will use his Thursday stop in Las Vegas?to tout?his immigration and tax bill, which includes campaign promises tailored for hourly workers and hospitality workers. The soaring prices across the country -- from groceries to gas, to housing and insurance -- has shaken up the U.S. economic system. And with it Trump's ability to...

China built the largest crude oil stockpile in the world during March, even as the rest of the world began to use up its inventories to make up for the millions of barrels lost due to the closure of the Strait of Hormuz. According to calculations based off official data, China, the largest crude importer in the world, had a surplus of 1,74 million barrels a day (bpd). China's excess crude for the first quarter was 1,41 million bpd. This is down from the?record-high of 2.67 millions bpd set in December, but it is up from the 2025 average of...

On Thursday, oil?prices remained unchanged, reversing previous declines. This was due to skepticism about the peace talks between?the U.S. Brent crude futures rose 9 cents at 0427 GMT to $95.02 per barrel. U.S. West Texas Intermediate Crude Futures rose 44 cents to $91.73 per barrel. Both benchmarks traded with a wide range on Wednesday, but settled little-changed. U.S. and Israeli war with Iran resulted in the biggest ever disruption of oil and gas supply due to Iran's blocking of traffic through the 'Strait of Hormuz', which typically carries around 20% of world oil and liquefied gas flows. Toshitaka Takawa, an...

Data from Kpler & LSEG revealed that Europe was experiencing record-breaking inflows of Jet Fuel from the United States. The region is trying to replenish fuel supplies as a result of the Middle East's disruption. Due to the U.S. and Israeli war against?Iran, the Strait of Hormuz has effectively been closed. This has prevented the Middle East from supplying Europe with nearly 75% of their?jet fuel, or about 375,000 barrels a day. According to a document viewed by, this has caused European airlines to call on the European Union (EU)?to take emergency measures including widespread airspace closings. Based on vessels...

Investors assessed the prospects of renewed U.S. Iran talks, and the potential of releasing supply from the Middle East where exports are still restricted by the closure of the Strait of Hormuz. Brent crude futures rose 43 cents or 0.5% to $95.22 per barrel at 821 GMT after dropping 4.6% the previous session. U.S. West Texas Intermediate Crude was down 17 cents or 0.2% to $91.11. The contract fell 7.9% in the previous session. The war has largely closed the Strait of Hormuz. This is a major waterway that allows crude oil and refined products to flow out of the...

Oil prices dropped for a second day on Wednesday, as the U.S. and Iran resumed peace talks. This could allow the supply to be released from the Middle East region that is currently trapped due to the Strait of Hormuz closure. Brent crude futures dropped 52 cents or 0.55% to $94.27 per barrel at 0054 GMT, after dropping 4.6% the previous session. U.S. West Texas Intermediate Crude was down $1.04 or 1.1% to $90.24 after falling 7.9% in the previous session. U.S. president Donald Trump announced on Tuesday that talks to end the conflict between the U.S., Israel, and Iran...

Mark Carney, the Liberal Party's newly elected parliamentary majority, said that he will focus on reducing Canada's?cost-of-living, addressing a housing shortage and building major infrastructure projects to help Canada's economic independence. Carney, whose Liberal Party won three special elections in Canada on Monday to cap off a remarkable few months, said that he accepts Canada's support with "humility, determination, and a clear comprehension of what this moment requires." Carney's first Liberal majority government in Canada since 2019, should give him more freedom to pass legislation that he believes is necessary for the country to thrive amidst "a divided and dangerous...

Albertsons' annual sales were below Wall Street estimates on Tuesday. They attributed this to the intense competition between Walmart and Amazon.com, two of its biggest rivals. The shares of the Boise-based grocery store were down by 2% during premarket trading. In 2025, they had fallen by nearly 13%. Albertsons is under pressure to lower prices as larger rivals such as Walmart, Target, and Kroger have slashed the price of essentials in order to attract 'increasingly cost-conscious shoppers. The grocery store, which also operates hundreds of gasoline stations, is at risk as the Iran conflict fuels higher gas prices and weighs...

CarMax, a retailer of used cars, reported a?loss for the fourth quarter on Tuesday. This was due to a goodwill impairment charge and declining margins. In premarket trading, shares of the Richmond-based Virginia company fell 6.8%. Used-car dealers have struggled to sell inventory at a profit, as consumer demand has weakened and import tariffs have squeezed margins. CarMax's gross profit on a used vehicle dropped to $2,115 during the third quarter from $2,322 one year ago. Wholesale gross profit per unit dropped to $940, down from $1,045?a year earlier, as the company cut prices to increase demand. The new CEO...

Two EU diplomats have said that the?European Union?will expand the criteria?of their Iran sanctions to include the individuals responsible for?blocking?the Strait?of Hormuz.?The Strait?of Hormuz has been?largely closed for nearly two months, upsetting global energy and commodity markets. After U.S. and Israeli strikes against Iran began on 28 February, Tehran effectively shut down the Strait of Hormuz. This cut off roughly one-fifth the world's supply of oil and liquefied gas. After Iran briefly opened the strait on Friday, more than a dozen oil tankers passed through it. However, the ceasefire agreement is now in jeopardy after the United States seizes an...

The oil prices fell by 13% after Iran's Foreign Minister said that the Strait of Hormuz would remain open to all commercial vessels for the remainder of the ceasefire period. U.S. president Donald Trump also said Iran had agreed not to close the strait ever again. Brent crude futures dropped $12.87 or 12.95 percent to $86.52 per barrel at 10:50 am EDT (1450 GMT) after hitting a session's low of $86.09. U.S. West Texas Intermediate Crude Futures fell $13.50 or 14.26% to $81.19 per barrel after reaching $80.56. Both contracts traded at their lowest since March 10 and were set...

Early Friday morning, oil prices dropped on the optimism that the Middle East conflict could be coming to an end. A 10-day ceasefire between Israel and Lebanon went into effect after the inauguration of the ceasefire. Moreover, 'President Donald Trump' said the U.S. may hold talks with Iran over the weekend. Brent crude futures fell $1.34 or 1.35% to $98.05 per barrel at 0021 GMT. U.S. West Texas Intermediate Crude Futures declined $1.65 or 1.74% to $93.40 per barrel, reducing gains from the previous day. Trump addressed a major sticking point in talks to end the Iran War, which has...

Jose Guimaraes, Minister of Institutional Relations, said that Brazil will take new measures in the next few days to reduce the economic impact of the U.S.-Israeli conflict on Iran. This includes steps to lower gasoline prices. Guimaraes told reporters in Brasilia that the package is still being finalized. He also confirmed that the Finance Ministry officials are reviewing fuel prices. He said that the government was working on a scenario where there could be 'up to two months worth of conflict. However, it is still uncertain what impact this will have on the economy. SEVEN-DAY WORKWEEK Guimaraes said that the...

South Korea has purchased 273 million barrels of crude oil from the Middle East and Kazakhstan by the end of this year. Supplies are being routed outside of the Strait of Hormuz. Kang, who was visiting as a presidential special envoy in Kazakhstan, Oman and Saudi Arabia over the last week, said that Asia's fourth largest economy had also acquired 2.1 million tons of naphtha during the same time period. Kang stated that "in particular, the crude and naphtha obtained this time would be sourced via alternative supply routes, unrelated to the closure of the Strait?Hormuz. This will make a...

Janet Yellen, former U.S. Treasury secretary, believes that the Federal Reserve could cut interest rates this year. This is despite the fact that the 'Iran War' has created supply shocks in the global economy which are putting pressure on inflation. "Short-term expectations of inflation are slightly up, but they will be watching all that very closely, and I believe they have an open mindset," Yellen said Wednesday at the HSBC Global Investment Summit held in Hong Kong. If I were to write down one thing on paper before the next FOMC meeting, where forecasts are made, my guess is that...

Aino Bunge, deputy governor of the central bank, said that Sweden's low inflation would?give it some room to deal with supply-side shocks. But if the war in the Middle East continues, this will also affect Sweden, he added. The war has caused a record rise in the price of gasoline and diesel, as well as increased global unrest and significant changes in financial markets. Consumer prices in Sweden were down 0.6% in march compared to the previous month and up 1.6% compared to the same period a year ago, which was much lower than expected. Bunge stated on Tuesday that...

Shipping data revealed that two Iranian-linked oil tankers left the Gulf of Mexico on Monday, as other vessels avoided the Strait of Hormuz after the U.S. announced it would 'blockade Iranian ports' later in the day. This caused the shipping markets to be uneasy at a crucial energy chokepoint. After the weekend talks between Washington, D.C. and Tehran collapsed, President Donald Trump announced on Sunday that the U.S. Navy will enforce a naval blockade against vessels entering or leaving Iranian ports. Washington, however, stressed that it would not limit transit through the Strait. Trump's announcement slowed down oil tanker movement...

Kuwait raised its official selling price for Kuwait Export Crude in Asia to $17 per barrel over the average 'Oman/Dubai quotations' from $0.50 in April. After weekend talks failed to?clinch a deal? to end the Iran War, the U.S. Military announced it would blockade maritime traffic in Iranian ports and coastal regions. This could jeopardize a fragile?two-week truce. Documents showed that the producer increased the Kuwait Super Light Crude OSP for May to $17 per barrel over Oman/Dubai prices, up from $1.15 in April. Middle East producers have boosted official prices for Asia for May. Saudi Arabia set the price...

Analysts say that the sharp drop in global oil production caused by the Iran War is set to turn the oil market this year into a'supply deficit. This will be a dramatic change from previous forecasts of a 'comfortable surplus. The conflict that began with U.S.-Israeli strikes against Iran on February 28, has effectively stalled oil flows through the Strait of Hormuz. This passageway accounts for a fifth of all global oil consumption. Attacks on energy infrastructure and production shutdowns have also severely reduced output. According to eight analysts surveyed by, the oil market will be oversupplied by 750,000 barrels...

Donald Trump, the U.S. president, proclaimed in February that this year's refunds were "substantially higher than ever before" thanks to individual tax breaks approved by 2025. He told taxpayers they should think of him as soon as their funds reached their bank accounts. "Don't use all this money at once!" He wrote this on the Truth Social platform. The gasoline pump is eating up the tax refunds from last year's Republican tax-cut legislation. This includes tax breaks for tips, Social Security retirement, overtime pay and car loan interest. Oil prices remained close to $100 per barrel on Friday, despite a...

Yvette Cooper, British Foreign Secretary said that Israel's pounding on?Lebanon is "deeply damaging" and risks destabilizing the ceasefire agreement between the United States of America and Iran. She told Times Radio that she wanted Lebanon to be included in the ceasefire. "We want the ceasefire to be extended to cover Lebanon because that would destabilise the entire?region." "The escalation we saw yesterday from Israel was deeply damaging, and we are calling for an end to hostilities." Britain has been criticized by U.S. president Donald Trump for not doing more to support Washington's war against Iran. It has tried to defend...