Refined Products

Oil costs gained for a. 2nd session on Thursday, supported by worries over supply. in the middle of U.S. sanctions on Russia, a largerthanforecast fall in. U.S. crude oil stocks, and an improving worldwide need outlook. Brent unrefined futures rose 25 cents, or 0.3%, to. $ 82.28 per barrel by 0446 GMT, after increasing 2.6% in the previous. session to their highest considering that July 26 last year. U.S. West Texas Intermediate unrefined futures increased 28. cents, or 0.4%, to $80.32 a barrel, after getting 3.3% on. Wednesday to their greatest because July 19. U.S. crude oil stocks fell last...

U.S. petroleum stocks omitting the Strategic Petroleum Reserve (SPR) fell last week to their lowest because April 2022 as exports rose and imports fell, the Energy Details Administration (EIA) stated on Wednesday. Crude inventories fell by 2 million barrels to 412.7 million barrels in the week ending Jan. 10, the EIA stated, compared to experts' expectations in a Reuters survey for a 992,000-barrel draw. Net U.S. crude imports fell by 1.3 million barrels daily (bpd), EIA said, to 2.05 million bpd. And weekly crude exports were up 1 million bpd to 4.08 million bpd. The petroleum draw was mostly on...

California said on Tuesday it has withdrawn its request for a federal waiver to require business truckers to shift to zeroemissions cars, preempting an expected denial from the incoming administration of Presidentelect Donald Trump. The withdrawal was among numerous pollution-fighting waiver demands submitted with the Environmental Protection Agency that was visited the California Air Resources Board (CARB), according to files posted on Tuesday. The withdrawal is an important action offered the uncertainty presented by the inbound administration that previously assaulted California's programs to protect public health and the environment and has actually stated will continue to oppose those programs, CARB...

Amazon stated on Tuesday it has purchased 200 MercedesBenz fullyelectric eActros 600 heavy products vehicles from Daimler to serve the German and UK markets in its biggest electrical truck order up until now. The e-commerce giant stated the trucks will start joining its network later this year and will be deployed on high-mileage. routes across Amazon's middle-mile network between fulfilment. centres, sort centres and shipment stations. This is a significant turning point for us, Andreas Marschner,. Amazon's Vice President of Amazon Worldwide Operations. Sustainability, informed Reuters. Decarbonizing the heavy products. sector is the most challenging part of the transportation. area....

Oil costs struck their greatest level in more than 3 months on Monday's open, extending their rally on expectations that larger U.S. sanctions will impact Russian unrefined materials to the world's top and 3rd biggest importers China and India. Brent crude futures climbed up $1.35, or 1.69%, to $ 81.11 a barrel by 2339 GMT after striking an intraday high of $ 81.44, the highest since Aug. 27. U.S. West Texas Intermediate crude rose $1.40, or 1.83% to $77.97 a barrel after touching a high of $78.32, the loftiest rate since Oct. 8. The U.S. Treasury on Friday enforced sanctions...

Exxon Mobil shares fell almost 2% in early trading on Wednesday after the top U.S. oil manufacturer warned of a decrease in refining profits in the fourth quarter and weak returns throughout its operations. The earnings photo from the industry bellwether signified a difficult environment as business face pricing pressure in the middle of demand volatility. Exxon expects fourth-quarter profits to be lower by about $ 1.75 billion from the previous quarter. For much of last year, Exxon and other oil majors dealt with lowered profitability from refining petroleum and selling petroleum items as a post-pandemic boom in demand ended....

Oil costs rose on Wednesday as products from Russia and OPEC members tightened, while data revealing an unanticipated increase in U.S. tasks openings pointed to expanding financial activity and consequent growth in oil demand. Brent crude was up 32 cents, or 0.42%, to $77.37 a. barrel at 0135 GMT. U.S. West Texas Intermediate crude. rose 42 cents, or 0.57%, to $74.67. Oil output from the Company of the Petroleum Exporting. Countries fell in December after 2 months of increase, a. Reuters survey showed. Field maintenance in the United Arab. Emirates offset a Nigerian output hike and gains in other places...

Venezuela's President Nicolas Maduro has actually appointed a brand-new executive vice president at state oil business PDVSA, and a brand-new head for the subsidiary that supervises the business's joint ventures with oil companies, according to a main decree. The changes come days before Maduro takes office for his 3rd term following a year of political chaos and a challenged election. Even in the middle of the crisis and U.S. sanctions on the energy sector, the country enhanced its crude output by about 17% and reached a 10.5% rise in its oil and fuel exports. Jovanny Martinez, who worked as vice...

Oil costs hovered at their highest considering that October on Monday as financiers eyed the impact on worldwide fuel need from cooler weather in the Northern Hemisphere and Beijing's financial stimulus steps. Brent crude futures rose 15 cents, or 0.2%, to $ 76.66 a barrel by 0125 GMT after deciding on Friday at its highest because Oct. 14. U.S. West Texas Intermediate crude acquired 22 cents, or 0.3%, at $74.18 a barrel after closing on Friday at its highest given that Oct. 11. Beijing is cranking up fiscal stimulus to revitalise the faltering economy, announcing on Friday that it will...

California Guv Gavin Newsom on Friday released an executive order intending to crack down on ultraprocessed foods consisting of packaged treats and sugary drinks, and even more investigate the health impacts of synthetic food dyes. The order directs checking out the use of public funds from California's hospitals and Medi-Cal Managed Care program to improve local access to fresh, healthy food and advance public health. WHY IT IS ESSENTIAL The order points out a new 2025 Dietary Standards Advisory Committee report suggesting that 73% of U.S. grownups aged 20 and older are obese or overweight, and 38% of children and...

Oil prices extended gains on Friday after closing at their greatest in more than 2 months in the prior session, in the middle of hopes that governments around the world may increase policy assistance to revive economic development that would raise fuel demand. Brent crude futures rose 22 cents, or 0.3%, to $ 76.15 a barrel by 0420 GMT, after settling at its greatest considering that Oct. 25 on Thursday. U.S. West Texas Intermediate crude was up 25 cents, or 0.3%, at $73.38 a barrel, with Thursday's. close its greatest because Oct. 14. Both agreements are on track for their...

Oil rates extended their gains on Friday after closing at their greatest in more than 2 months in the previous session on hopes governments throughout the world might increase policy support to revive financial growth that would lift fuel demand. Brent unrefined futures increased 16 cents, or 0.2%, to $ 76.09 a barrel by 0132 GMT after settling at its highest because Oct. 25 on Thursday. U.S. West Texas Intermediate crude was at $73.32 a barrel, up 19 cents, or 0.3%, with Thursday's. close its greatest considering that Oct. 14. Both agreements are on track for their second weekly boost....

Oil rates increased on Friday and headed towards a fourth successive weekly gain as the current U.S. sanctions on Russian energy trade struck supply and pushed up spot trade costs and shipping rates. Brent unrefined futures increased 44 cents, or 0.5%, to $ 81.73 per barrel by 0443 GMT, U.S. West Texas Intermediate crude futures were up 62 cents, or 0.8%, to $79.3 a. barrel. Brent and WTI have actually gained 2.5% and 3.6% up until now today. Supply issues from U.S. sanctions on Russian oil. manufacturers and tankers, combined with expectations of a need. recovery driven by potential U.S....

Indian Oil Corp. ( IOC), the nation's top refiner, has bought 7 million. barrels of spot Middle Eastern and African petroleum via. tenders, consisting of an unusual purchase of Abu Dhabi's Murban, as. U.S. sanctions are expected to hit products from Russia, trade. sources said on Friday. Indian refiners are increasing Middle Eastern crude. buy from the area markets after Washington last Friday. revealed sweeping sanctions targeting Russian manufacturers and. tankers, disrupting supply from the world's No. 2 producer and. tightening up ship availability. Totsa, the trading unit of French significant TotalEnergies. , offered the 2-million-barrel Murban unrefined cargo to...

Oil prices climbed on Friday, heading for a fourth weekly gain, driven by concerns over tighter supply following U.S. sanctions on Russian oil producers and signals from a Federal Reserve official of capacity interest rate cuts. Brent crude futures rose 13 cents, or 0.2%, to $ 81.42 per barrel by 0113 GMT, after declining 0.9% in the previous session. U.S. West Texas Intermediate crude futures were up 27 cents, or 0.3%, to $78.95 a barrel after dropping 1.7% on Thursday. Both agreements fell on Thursday with Yemen's Houthi militia expected to stop attacks on ships in the Red Sea. Still,...

OPEC forecast on Wednesday world oil demand in 2026 will increase at a similar rate to this year, while reducing its figure for 2024 for a 6th time, following financial weakness in China, the world's biggest importer of oil. The 2026 projection remains in line with the Organization of the Petroleum Exporting Countries' view oil use will rise for the next twenty years, in contrast to the West's International Energy Firm that predicts it will peak this decade as the world shifts to cleaner energy. OPEC, in a month-to-month report, stated need will increase by 1.43 million barrels each day...

Oil prices rose on Wednesday cutting losses from the previous day, as the focus reversed to possible supply disruptions from sanctions on Russian tankers, though gains were capped as the marketplace waited for more clarity on their impact. Brent crude futures edged up 11 cents, or 0.1%, to $ 80.03 a barrel by 0515 GMT, after dropping 1.4% in the previous session. U.S. West Texas Intermediate crude climbed 23 cents, or 0.3%, to $77.73 a barrel after a 1.6% decline. Prices slipped on Tuesday after the U.S. Energy Details Administration forecasted oil would come under pressure over the next two...

Egypt has issued a tender looking for 4 cargoes of liquefied gas (LNG) for delivery in between February and March, two trading sources informed Reuters. The most populated Arab country has gone back to being an internet importer of natural gas, purchasing dozens of cargoes this year and deserting plans to become a supplier to Europe after a steep decrease in domestic gas output mainly due to the fact that of decreasing production from the Zohr gas field. The tender was released by the Egyptian General Petroleum Corporation (EGPC) and closes on Jan. 27. It is smaller sized than those...

Oil extended gains for a. third session on Monday, with Brent unrefined increasing above $80 a. barrel to its highest in more than four months, driven by wider. U.S. sanctions on Russian oil and the anticipated effects on. exports to leading purchasers India and China. Brent crude futures were up 71 cents, or 0.9%, to. $ 80.47 a barrel by 1424 GMT after hitting the highest level. since Aug. 27 at $81.68. U.S. West Texas Intermediate crude was up 94 cents,. or 1.2%, at $77.51 a barrel after touching its greatest because. Aug. 15 at $78.58. Brent and WTI have...

Oil costs extended gains for a third session on Monday, with Brent increasing above $81 a. barrel to its greatest in more than four months, as larger U.S. sanctions are expected to impact Russian unrefined exports to leading. buyers China and India. Brent unrefined futures climbed $1.48, or 1.86%, to. $ 81.24 a barrel by 0113 GMT after hitting an intraday high of. $ 81.49, the greatest because Aug. 27. U.S. West Texas Intermediate crude rose $1.53, or 2%. to $78.10 a barrel after touching a high of $78.39, the most. considering that Oct. 8. Brent and WTI have risen...

Oil costs rose in early Asian trade and were on track for a 3rd straight week of gains with icy conditions in parts of the United States and Europe increasing fuel demand for heating. Brent crude futures climbed 24 cents, or 0.3%, to $ 77.16 a barrel at 0138 GMT. U.S. West Texas Intermediate crude futures gained 26 cents, or 0.4%, to $74.18. Over the three weeks ending Jan. 10, Brent has advanced 5.9%. while WTI has leapt 6.9%. Experts at JPMorgan attributed the gains to growing concern. over supply disturbances due to tightening up sanctions, amid low. oil stockpiles,...

Oil prices reduced on Tuesday, extending losses into a second consecutive session after last week's rally, although concerns about tighter Russian and Iranian supply amid expanding Western sanctions examined losses. Brent futures edged down 8 cents, or 0.1%, to $76.22. a barrel by 0452 GMT, while U.S. West Texas Intermediate (WTI). crude fell 15 cents, or 0.19%, to $73.42. Both benchmarks moved on Monday, after increasing for five days. in a row recently to settle at their greatest levels given that. October on Friday in the middle of expectations of more financial stimulus to. revitalise China's faltering economy. Today's weakness...

Oil rates extended losses into a 2nd straight session on Tuesday on technical correction after recently's rally, while projections for adequate supply and a firm dollar also weighed. Brent futures fell 28 cents, or 0.37%, to $76.02 a. barrel by 0148 GMT, while U.S. West Texas Intermediate (WTI). crude fell 33 cents, or 0.45%, to settle at $73.23. Both criteria rose for five days in a row last week and. settled at their highest levels because October on Friday, partly. due to expectations of more financial stimulus to revitalise. China's faltering economy. This week's weakness is likely due to a...

Asia's crude oil imports dropped in 2024, the first yearly decrease in three years, led by weak demand from heavyweight China and other major buyers, with only India managing sporadic development. The world's leading importing area saw arrivals of 26.51 million barrels each day (bpd) in 2024, down 1.4% from the 26.88 million bpd in 2023, according to data put together by LSEG Oil Research study. The decline of 370,000 bpd this year marked the very first time Asia's crude imports have dropped considering that 2021, when China's. strict lockdown to fight COVID-19 cut need worldwide's. biggest oil importer. It...