Refined Products

Germany's 10-year bond yield fell to a six-week-low on Thursday, as safe-haven flows benefited from market anxiety over trade and tensions with the Middle East. This came a day following soft U.S. Inflation numbers. Germany's benchmark 10-year Bund yield for the Euro zone was almost 5 basis points lower, at 2,486%. It has pared some of its declines since it dipped to its lowest level since early May, at 2.469%. . Yields dropped around the globe on Wednesday, after data showed that U.S. consumer price increases were lower than expected in May due to cheaper petrol and a healthy appetite...

Colorado State University's meteorologists, who released their forecast in April for a hurricane season that begins on June 1 and is above average in 2025, have not changed their predictions. There will be four major hurricanes with sustained winds exceeding 111 miles an hour (178.6 kilometers per hour) among nine named hurricanes and 17 tropical storms by the end of November. Forecasters from the U.S. Government issued a similar forecast in May for a similar amount of storms, major hurricanes and hurricanes this year. Colorado State forecasters warned the outlook could be affected by the uncertainty surrounding the development of...

According to a Wednesday filing, a U.S. court in Delaware has moved the final hearing of the sale process to August 18th. The auction will be held by the Delaware Superior Court. Multiple delays have been experienced in the eight-year long court case aimed at compensating Venezuelan creditors for defaulted debts and expropriated assets. The first round of bidding last year did not satisfy the majority of companies who expected to receive cash proceeds. Citgo is the seventh largest refiner in the United States. It's owned by Venezuelan state oil company PDVSA. In the second round of bidding, the court...

The U.S. Energy Information Administration reported on Tuesday that U.S. crude production will decline next year due to lower commodity prices forcing drillers drop rigs sooner than expected. The EIA has predicted that crude oil production in the United States will fall to 13.37 million barrels a day in 2026 from 13.42 million barrels a day in 2018. The EIA had previously predicted that U.S. production would grow to 13,49 million barrels per day (bpd) next year. This is the first time the U.S. Department of Energy’s statistical arm has forecast a decline in U.S. crude oil production next year....

Oil prices fell a few pennies on Monday, but they held most of the gains made last week as investors waited for the U.S.-China talks to take place in London in the afternoon. Some investors were hoping that a deal would boost global economic growth and fuel demand. Brent crude futures fell 6 cents, to $66.41 per barrel at 0450 GMT. U.S. West Texas Intermediate Crude fell 4 cents, to $64.54. Three of Donald Trump's most senior aides are set to meet their counterparts at the first U.S. China economic and trade consultation mechanisms meeting. The announcement of the Saturday...

The regional governor reported that drones caused a fire at an industrial facility in the southern Russian city of Engels. A video posted on social media, and confirmed by, showed a fierce fire emitting massive clouds of black smoke. The Governor Roman Busargin didn't specify which industrial site was the target. In January, the state of emergency in Engels was declared after a Ukrainian drone struck an oil depot serving a nearby Russian base for nuclear bomber aircraft, causing an fire that took several days to extinguish. Busargin confirmed that a high-rise building was also struck, but no one was...

Early Asian trade on Tuesday saw oil prices fall, weighed by a loosening of the supply-demand equilibrium following an increase in OPEC+ production and lingering worries about global economic prospects due to tensions over tariffs. Brent crude futures fell 5 cents or 0.1% to $65.58 a barge by 0040 GMT, while U.S. West Texas intermediate crude was $63.32 a barge, down 9 cents or 0.1%. The benchmarks rose about 2% to their highest level in two weeks on Tuesday, boosted by concerns over disruptions to supply from wildfires in Canada and the expectation that Iran would reject a U.S. proposal...

The company reported on Tuesday that an affiliate of Gold Reserve miner submitted a bid in the top period of the U.S. Court-organized auction for shares of the parent company of Venezuelan-owned U.S. refiner Citgo Petroleum. According to the Delaware court calendar, after the court selected a $3.7billion offer from an affiliate of Contrarian Funds this year as the starting bid, competitors may submit better bids in the topping period until June 18. The court officer who was overseeing the sale process last month stated that the resolution of parallel cases pursuing the same assets which are being auctioned off...

The oil prices rose on Tuesday due to concerns over supply. Iran is set to reject the U.S. proposal for a nuclear deal that would ease sanctions on the country's largest oil producer. A weaker dollar also helped to support prices. Brent crude futures rose 21 cents or 0.32% to $64.84 per barrel at 0437 GMT. U.S. West Texas Intermediate Crude was up 27 cents or 0.43% to $62.79 per barrel after rising by about 1% in the previous session. In a report, ING analysts said that the oil market gained on Monday due to rising geopolitical risk and a...

The budget of President Donald Trump proposes that the Northeast Home Heating Oil Reserve be closed as soon as a few weeks. This reserve, which contains 1 million barrels and was created to protect consumers, stores diesel. The reserve created by the former president Bill Clinton in 2000 is enough to heat homes for approximately 10 days. The reserve hasn't been used since 2012 when emergency responders were provided with fuel in the wake of Hurricane Sandy. According to the proposal, proceeds from the sale of ultra-low sulfur fuel in fiscal year 2020 would be used for deficit reduction. The...

Monday, oil prices rose by more than $1 a barrel after OPEC+ announced that it would increase production in July in the same proportion as in the two previous months. This was in line with expectations on the market. Brent crude futures rose $1.19 or 1.9% to $63.97 per barrel at 0044 GMT, after closing 0.9% lower Friday. U.S. West Texas Intermediate Crude was $62.09 per barrel, up $1.30 or 2.14% after a 0.3% drop in the previous session. Both contracts were lower than 1% over the past week. The Organization of the Petroleum Exporting Countries (OPEC) and its allies...

The oil price rose by more than $1 a barrel in the early Asian trading on Monday, after OPEC+ announced that it would increase production in July in the same way as in the previous two months. This was in line with the market expectations. Brent crude futures rose $1.06 or 1.69% to $63.84 a bar by 2244 GMT, while U.S. West Texas Intermediate Crude was at $61.95 a bar, up $1.16 or 1.91%. The Organization of the Petroleum Exporting Countries (OPEC+) and its allies have decided to increase output by 411,000 barges per day for July. This is the...

The oil prices rose on Thursday, reaching their highest level in over two months after U.S. president Donald Trump announced that U.S. personnel would be moving out of the Middle East. This sparked fears about the potential disruption to supply if tensions escalated with Iran. Brent crude futures increased 15 cents (0.2%), to $69.92 a bar at 1230 GMT. U.S. West Texas intermediate crude rose 22 cents (0.3%), to $68.37. Brent and WTI both surged over 4% on Wednesday, reaching their highest levels since early April. Trump said on Wednesday that U.S. personnel was being relocated out of the Middle...

The oil prices in Asian trade fell on Wednesday, as the markets assessed the results of U.S. - China trade talks that have yet to be reviewed and analyzed by President Donald Trump. Weak Chinese demand for oil, along with OPEC+'s production increase, weighed on the market. Brent crude futures fell 19 cents or 0.3% to trade at $66.680 per barrel. U.S. West Texas intermediate crude dropped 16 cents or 0.3% to $64.82 as of 0318 GMT. U.S. officials and Chinese officials have agreed on a framework for re-establishing their trade truce and resolving China's export limitations on rare earth...

The oil prices rose on Tuesday, as traders awaited the outcome of U.S. China talks which could ease trade tensions and increase fuel demand. Brent crude futures rose 12 cents a barrel to $67.16 at 0041 GMT. U.S. West Texas Intermediate Crude was trading at $65.42, up 13 cents after reaching its highest level since April 4, earlier in the session. Brent oil prices rose to $67.19 on Monday, their highest level since April 28. This was boosted by the prospect of a U.S. China trade agreement. The U.S. and China trade talks will continue in London for a second...

Oil prices fell on Friday, but are on track to gain their first weekly increase in three weeks following the resumption of trade talks between U.S. president Donald Trump and Chinese President Xi Jinping. This has raised hopes for stronger growth and demand in two of the world's largest economies. Brent crude futures dropped 19 cents or 0.3% to $65.15 per barrel at 0441 GMT. U.S. West Texas Intermediate Crude lost 20 cents (0.3%), to $63.17 after having gained around 50 cents Thursday. Both benchmarks are on course to end the week higher, after two weeks of falling. Brent is...

The oil prices fell in the early hours of Thursday's trading after an increase in gasoline and diesel stocks in the United States and Saudi Arabia lowering its July crude prices for Asian buyers. Brent crude futures dropped 21 cents or 0.3% to $64.65 per barrel at 0047 GMT. U.S. West Texas Intermediate Crude lost 29 cents or 0.5% to drop to $62.58. The price of oil closed about 1% lower Wednesday, after data revealed that U.S. gasoline stocks and distillate inventories grew more rapidly than expected. This was due to a weaker demand for the top economy in the...

The oil prices fell in Asian trade Wednesday due to concerns about rising OPEC+ production and the threat of tariff tensions that could threaten global economic prospects. However, worries over Canadian supply kept them at a lower level. Brent crude futures fell 23 cents (0.4%) to $65.40 per barrel at 0318 GMT. U.S. West Texas Intermediate Crude was down 25 cents (0.4%), at $63.16 per barrel. The benchmarks rose about 2% to their highest level in two weeks on Tuesday, driven by concerns over disruptions to supply from wildfires in Canada and the expectation that Iran will reject a U.S....

The company stated that Abu Dhabi National Oil Co. (ADNOC), has reduced its monthly forecast for Murban oil from August until next May in order to increase the processing at its refinery. ADNOC's August export forecast for the light Murban grade is 1.705 millions barrels per day, according to a report published by the company on Saturday. This is 65,000 bpd less than the previous forecast of 1.77 million. ADNOC has also reduced the forecast from September 2025 through May 2026, by between 100,000 and 177,000 bpd. However, forecast volumes for July and June 2025 remain unchanged. In the report,...

The oil price was on course for a second weekly drop on Friday. This was due to expectations of a further OPEC+ production increase in July, and new uncertainty following the latest legal twist that kept President Donald Trump's Tariffs in place. Brent crude futures fell 31 cents or 0.48% to $63.84 per barrel at 0424 GMT. U.S. West Texas Intermediate Crude fell 31 cents or 0.51% to $60.63 per barrel. Brent's July futures contract expires on Friday. The two contracts have both fallen by 1.5% this week. Investors priced in a further increase by the Organization of the Petroleum...

The oil prices rose in the early hours of trading on Wednesday, as the U.S. banned Chevron's exports from Venezuela due to a new authorization for its assets there. This raised the prospect of a tighter supply. Brent crude futures gained 47 cents or 0.73% to $64.56 per barrel at 0028 GMT. U.S. West Texas Intermediate crude rose 49 cents or 0.8% to $61.38 per barrel. Sources reported that the Trump administration had issued a new approval for U.S. giant Chevron, which would allow it to retain assets in Venezuela without allowing them to export oil or expand their activities....

RIA News Agency reported that Alexander Novak, the Russian prime minister, said on Monday morning that the OPEC+ grouping of major oil producers had not yet discussed raising output by another 411,000 barley per day before its meeting. On May 28, the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia will host an online ministerial conference. Novak told RIA that he expected the two to discuss the current market conditions, forecasts, and "adjustments". Eight OPEC+ nations will meet separately, who had committed to voluntary extra cuts in oil production. Three OPEC+ source told us earlier...

Oil prices were little altered on Thursday, as investors remained cautious and focused on the renewed Iran-U.S. Nuclear Talks, even though unexpected increases in U.S. crude oil and fuel inventories raised concern about demand. Brent futures rose 4 cents a barrel to $64.95 by 0456 GMT. U.S. West Texas intermediate crude climbed 10 cents a barrel to $61.67. The Energy Information Administration reported on Wednesday that both benchmarks had fallen earlier in the day after U.S. crude inventories and fuel stocks posted unexpected stock builds last weekend. Crude imports reached a six-week peak and gasoline and distillate demands declined. The...

The price of oil jumped by more than 1% after Israel was reported to be preparing an attack on Iranian nuclear facilities. This sparked fears that the conflict could disrupt supply in this key Middle East region. Brent futures rose by 97 cents or 1.5% to $66.35 per barrel at 0330 GMT. U.S. West Texas Intermediate Crude Futures for July rose 96 cents or 1.6% to $62.99. The WTI contract for June expired at $62.56 on Tuesday. CNN reported Tuesday that the United States has received new intelligence suggesting that Israel is planning to attack Iranian nuclear facilities. CNN cited...