Refined Products

On Monday, oil prices rose 7% and reached their highest level in months as Iran and Israel intensified attacks?in the Middle East. They damaged tankers?and disrupted shipments?from the key producing area. Brent crude futures soared to $82.37 in the first trading session after U.S., Israel and other countries launched attacks on Iran, killing its Supreme Leader Ali Khamenei, on Saturday. Brent futures at 0054 GMT were $78.24 per barrel, an increase of $5.37 or 7.37%. U.S. West Texas Intermediate Crude rose by $4.66 or 6.95% to $71.68 per barrel, after reaching $75.33 earlier. This was the highest since June 2025....

The Energy Information Administration reported on Friday that U.S. crude oil production dropped for the second consecutive month in December, to its lowest level since June of last year. Meanwhile, demand was at a multi-month high. The EIA reported that crude?oil?production averaged 13,66 million barrels a day in December. This was down by about 133,000 barrels a day from November. This was the biggest month-over-month drop in U.S. crude oil production since January 2025 when bad weather forced major?production centers to shut down. Analysts have predicted that oil production will slow due to the recent decline in oil prices. U.S....

Chris Wright, the U.S. Energy secretary, said that proceeds from the sale of Venezuelan oil will no longer be routed through an account in Qatar. Instead they are being sent directly to US Treasury Department accounts. The U.S. has taken control of Venezuela's oil exports after Washington and Caracas signed a landmark deal in January. The U.S. has taken control of Venezuela's oil exports as part of a historic deal signed between Washington and Caracas. To protect the money from seizure, it was initially deposited into a Qatari account. Wright, who spoke to reporters in Texas about the?reroute, said that...

HF Sinclair revealed in a filing that Atanas Atanasov has taken a 'voluntary leave from duty.' This comes just a week following a similar request by top boss Tim Go. In premarket trading, shares of the company dropped 4%. The company announced last week that it had begun an internal review of their disclosure processes. The company said on Friday that the review started on January 26 after Atanasov expressed concerns about certain actions taken by Go creating an "unfavorable" "tone at top" with respect to the 2025 disclosure process. At a later stage of the review the board expressed...

U.S. soybean futures fell on Thursday, a dip in profit-taking after the?hopes? for more U.S. demand and Chinese imports drove prices to their highest level since mid-2024. Corn futures fell with soybeans, but recovered to close the day higher as recent optimism about demand was not dampened by a smaller-than-expected export sales total. Wheat gained after three sessions of losses. Chicago Board of Trade may soybeans finished down 1-1/2 cents to $11.53-1/2 per bushel, after the most-active contract reached its highest level in 20 months. Soyoil Futures rose for the fourth consecutive?day, and reached their highest level since September 2023....

Four sources with knowledge of the talks say that the United States has slowed down the sale of the international assets owned by the Russian oil giant Lukoil to use as a bargaining tool in the Ukraine peace talks. A document reviewed by OFAC showed that the U.S. Office of Foreign Assets Control (OFAC) will extend to Thursday the deadline for transactions to be completed from February 28 to April 1. In recent weeks, U.S. and Russian government officials failed to make a breakthrough during talks in Geneva and Abu Dhabi, or in Miami, in order to negotiate a deal...

Investors are still worried about the possibility of a military conflict between Iran and the U.S., which could disrupt the supply. Talks between the two parties will take place on Thursday. Brent futures traded at $71.22 a barrel at 0140 GMT, an increase of 45 cents or 0.64%. WTI futures rose by 0.64% or 42 cents to $65. Brent prices hit their highest level since July 31st on Friday while WTI reached its highest level since August 4th on Monday. Both contracts are holding near that mark as the U.S. positions military forces in the Middle East, to force?Iran into...

Since mid-2024, oil prices have consistently been a deflationary force in the U.S. economy and around the world. This may soon change. Brent and West Texas Intermediate crude oils futures have reached their highest levels in almost seven months. This is due to signs of an economic recovery at the beginning of the year, and simmering tensions between the U.S. and Iran that could lead to a military conflict. WTI surpassed $67 per barrel on Friday, while Brent reached $72,?bringing their gains for the year to date up to 15% and almost 20% respectively. More importantly, ?from ?an inflation-calculation perspective,...

Oil prices fell?1%?on Monday as the U.S., Iran, and other countries headed to a third round nuclear talks. This eased concerns over a possible conflict. Meanwhile, President Donald Trump's new tariffs created uncertainty about global growth and fuel consumption. Brent crude futures fell 75?cents or 1.05% to $71.01 a barge by 0055 GMT, while U.S. West Texas intermediate crude?futures dropped 74?cents or 1.11%, and were now at $65.74 a barge. Trump announced on Saturday that he will increase a temporary tariff on U.S. Imports from All Countries from 10% to 15%, the maximum allowed by law. This is after the...

The European Commission approved a new trusteeship on Friday that will give Berlin long-term control of the German assets owned by the Russian oil group Rosneft. This is part of the efforts to find a structural solution for the company. After the Russian invasion of Ukraine, Germany's long-standing energy relationship with Russia was shaken. It is necessary to renew the trusteeship every six months in order to?preserve energy security'. This creates uncertainty, mainly regarding the PCK Schwedt Refinery which supplies the majority of fuel to Berlin. The current trusteeship ends on March 10, 2019. The transaction that was examined by...

Workers at the facilities reported that the Venezuelan refining system is running 'at around 35% of its capacity installed of 1.29 million barrels a day. This is higher than the 20% to 25% of last year but still a small volume for securing enough fuel to satisfy the rising domestic demand. Refineries in South America, run by the state-owned energy company PDVSA are often hit by power failures and malfunctions, which limit fuel supplies to homes, power plants, and vehicles. Venezuela was forced to ration cooking gas, gasoline and diesel in the past. According to sources, Amuay Cardon?El Palito Puerto...

HF Sinclair CEO Tim Go will take a 'voluntary leave' amid a 'disclosure review. The U.S. refinery announced this?on a Wednesday. Its shares plummeted despite a higher-than expected fourth-quarter profit. Dallas-based refiner Go said he has requested an internal review of the company's disclosure processes. Franklin Myers, the board chair, has been appointed interim CEO. The shares of the refiner dropped 14% during the morning trading after the company announced that the audit committee was evaluating the disclosure processes. Myers said during a conference called that the company is working to finish this review as quickly as possible. He said...

As tensions between the U.S. and Iran disrupted traffic in the Strait of Hormuz, fears of tightening exports grew. The Middle East is one of the largest exporters of fuel oil into Asia. Most barrels end up in bunker hubs, where they are sold to ships to refuel them, or to refineries to use as feedstock for other oil products. Cracks in HSFO received a 'boost' as traders waited for clarity from Middle Eastern exporters such as?the United Arab Emirates?, Iraq?, Kuwait? and Saudi Arabia?. Expectations of a tighter sour crude oil market also lent a boost. Singapore's 380cst HSFO/Dubai...

OPEC+'s decision to increase crude oil production by 206,000 barrels a day (bpd), starting in April, is likely?the most unimportant decision that the group has taken during its nearly decade-long existence. Addition of 0.2% to global oil demand in a month is nothing more than a symbol in light of the escalating conflict in the Middle East that is already causing serious disruptions in supply. There was not much the 'eight members' of OPEC+ who are voluntarily cutting production could have done if they had met on Sunday in order to reassure the market that the supply would be secure....

Analysts say that the U.S. retail average gasoline price is set to surpass $3 per gallon for the first time since?more than 3 months on Monday as the conflict between Iran and the United States 'interrupts the global oil flow. Price inflation is a big concern for voters, and that could be a major problem for Donald Trump's Republican Party as we approach the November midterm elections. Trump has falsely claimed credit for lowering gasoline prices many times since he returned to office in 2017. Patrick De Haan is an analyst with GasBuddy, a retailer that tracks retail prices. He...

According to four sources who are familiar with the talks, the United States has slowed down?the sale?of the international assets of Russian oil giant Lukoil to use them as a bargaining tool in the Ukraine peace negotiations. A document viewed by OFAC showed that the U.S. Office of Foreign Assets Control (OFAC) will extend to Thursday the deadline for transactions to be completed from February 28 to April 1. In recent weeks, U.S. and Russian government officials failed to make a breakthrough during?talks held in Geneva, Abu Dhabi, and Miami, in order to negotiate a deal for peace in Ukraine....

According to trade sources, and LSEG data, the prices of liquefied petrol gas and?naphtha jumped on Thursday in Asia after Saudi Aramco halted the exports from a major terminal. This disrupted supplies to the area, and India is likely to be the worst hit. On Wednesday, Saudi?Aramco announced that it had halted LPG deliveries this week at its eastern terminal in Juaymah. This terminal is one of the largest exporters of butane and propane. It suffered structural damage to its delivery system on February 23, which was a result of a component being damaged. Fuel from the terminal near Aramco’s...

According to trade sources and LSEG, the prices of liquefied petrol gas and?naphtha jumped on Thursday in Asia after Saudi Aramco halted its exports from a major terminal, disrupting'supplies' to the region. Saudi Aramco announced on Wednesday that it had halted LPG deliveries this week at its eastern terminal in Juaymah. It is one of the largest exporters of butane and propane. A part of its delivery system was damaged by structural damage to an area of its delivery network on February 23. Fuel from the terminal near Aramco’s Ras Tanura refinery and the Jafurah Gas Field is used to...

The price of oil climbed Thursday as investors hoped that U.S. and Iranian talks would avert a conflict which could disrupt supply. However, gains were capped due to a 'build-up in U.S. crude stocks. Brent futures traded at $71.12 a barrel at 0123 GMT, up 27 cents or 0.3%. WTI futures increased by 23 cents or 0.4% to $65.65. Brent rose 8 cents Wednesday while WTI dropped 21 cents. Brent reached its highest level since July 31, and WTI also rose to the highest level since July 31. Both contracts have remained?near these levels, as Washington has deployed military forces...

Oil prices were below a seven-month high as traders weighed the uncertainty surrounding U.S. Trade Policy and the prospects for U.S. Iran nuclear talks in light of heightened Middle East tensions. Brent crude futures fell 9 cents or 0.1 percent to $71.40 per barrel at?0120 GMT. This follows a volatile session on Monday, when it reached its highest level since the 31st of July, $72.50, while alternating between gains and losses exceeding 1%. U.S. crude oil futures fell 11 cents or 0.2% to $66.20 per barrel. This is after the previous session saw a rise to $67.28 - the highest...

According to traders and data from ship tracking, China's Russian imports will rise for the third consecutive month to a record high. Independent refiners have snapped up heavily?discounted?cargoes as India reduced purchases. Vortexa Analytics estimates that Russian crude oil shipments to China in February will be 2.07 million barrels a day, exceeding the January estimate of 1.7 millions bpd. Kpler's preliminary data for February showed imports of 2.083 million bpd. This is up from 1.718 millions bpd during January. Since November, China has displaced India as Moscow's largest client for seaborne shipments. Western sanctions due to the conflict in Ukraine...

QatarEnergy, the state-owned oil company, has increased the 'term price' for al-Shaheen crude loading in April, to the highest level in the last five months, according to?several sources?. This is due in part because the Middle Eastern market was supported by a better demand in India. According to the sources, the April term price of al-Shaheen oil was set at 87c per barrel according to Dubai's quotes. This is a significant jump from the March term price, which was 33c less per barrel. It was also the highest price since November. Spot premiums on Middle?Eastern oil have risen this month...

Investors worried about the escalating tensions between Iran and the U.S. pushed up oil prices on Thursday morning. Brent crude oil futures were up 34 cents or 0.49% at $69.74 per barrel at 0126 GMT. U.S. West Texas Intermediate Crude climbed 37 cents or 0.57% to $65.00. Both benchmarks closed higher on Wednesday. Brent futures rose 0.87%, and WTI more than 1.05% as investor concerns about U.S. - Iran tensions overshadowed a rise in U.S. oil stocks. After talks with Israeli Premier Benjamin Netanyahu, Donald Trump stated that the two leaders had not reached a "definitive agreement" on how to...

OPEC forecasts that world oil 'demand for crude oil from the wider OPEC+ producer groups will fall by 400,000.barrels per.day.in the second.quarter.from the first three.months of this year. A copy of its monthly report on oil seen by shows. OPEC reported that the world demand for OPEC+ oil will average 42.20 millions bpd during the second quarter. This is down from 42.60million bpd during the first quarter. The two forecasts were unchanged since last month's report. The OPEC+ group, which includes OPEC countries, Russia?and others, increased oil production last?year, after years of cuts. Production hikes were halted in the first...