Refined Products

The amount of gas streaming to the 7 big operating U.S. melted gas (LNG) export plants was on track to rise to a 10month high on Wednesday, according to data from monetary company LSEG. Feedgas was up in part as flows to Venture Global LNG's. Plaquemines plant in Louisiana were on track to increase to a record. high for a 2nd day in a row on Wednesday as the company tests. devices at the plant. Plaquemines will be the country's 8th big LNG export. plant once it starts producing LNG, which experts have stated. could happen any day now. LNG...

Oil prices held steady for a 2nd day on Wednesday as concerns about escalating hostilities in the Ukraine war possibly interfering with oil supply from Russia and signs of growing Chinese crude imports balance out data showing U.S. unrefined stocks rising. Brent unrefined futures dipped 5 cents to $73.26 a. barrel by 0541 GMT. U.S. West Texas Intermediate unrefined futures. was flat at $69.39 per barrel. The intensifying war in between significant oil manufacturer Russia and. Ukraine has kept a floor under the market this week. We may expect (Brent) oil rates to stay supported above. the $70 level in...

Oil rates steadied on Tuesday as the restart of production at Norway's Johan Sverdrup oilfield balanced out financier concerns about an escalation in the RussiaUkraine war. Equinor resumed partial production from the North Sea oilfield, Western Europe's biggest, after a power interruption there assisted lift oil costs by over 3% on Monday. Brent crude futures were down 12 cents, or 0.2%, at $ 73.18 a barrel by 1425 GMT, while U.S. West Texas Intermediate unrefined futures slipped by 19 cents, or 0.3%, to $68.97. I think the partial restart of the Sverdrup field is the motorist of the problem, in...

Global grain trader ArcherDanielsMidland posted a drop in thirdquarter revenue on Monday and stated in its delayed filing that it has modified its estimation of total segment operating revenue. The business had on Nov. 5 delayed its revenues statement and cut its 2024 revenue outlook to amend previous financial statements due to the discovery of fresh accounting abnormalities. ADM was required to fix 6 years of monetary information in March after an internal examination found sales between its nutrition service and other core units were not recorded effectively. CEO Juan Luciano stated they are focusing on enhancing internal controls. Looking...

U.S. unrefined futures turned to a contango structure for the first time since February on Monday, with West Texas Intermediate for January shipment trading at a premium to the December contract in a. sign that supply tightness is easing. The discount rate for front-month U.S. crude futures against. the second-month agreement broadened to as much as 4 cents throughout. the day. The December contract is due to end on Wednesday and. the market is eyeing higher supply. Under a contango, traders are wagering oil will fetch a. more powerful price in the future than current spot rates,. validating the expense...

Oil rates fell on Friday on indications demand in China, the world's greatest crude importer, continues to underperform amid its uneven economic recovery. Brent unrefined futures were down 65 cents, or 0.9%, at $ 71.91 a barrel by 0450 GMT. U.S. West Texas Intermediate crude futures were down 62 cents, or 0.9%, at $68.08. For the week, Brent is set to fall 2.7% while WTI is set to decrease 3.3%. While oil costs have actually somewhat stabilised around the $71.00. level of assistance this week, the absence of a concrete bullish. driver recommends that rate recovery remains lukewarm for now,....

Oil rates edged down early on Friday as oversupply issues and demand worries coming from a. more powerful dollar outweighed a steep draw in U.S. fuel stocks. Brent unrefined futures were down 30 cents, or 0.41%, at. $ 72.26 a barrel by 0105 GMT. U.S. West Texas Intermediate crude. futures were down 25 cents, or 0.36%, at $68.45. For the week, Brent is set to fall about 2.2% while WTI is. set to decline 2.7%. U.S. crude stocks recently rose by 2.1 million. barrels, the Energy Info Administration (EIA) said on. Thursday, a lot more than analysts' expectations for a....

Venezuelaowned Citgo Petroleum joined other refiners in posting a sharp drop in thirdquarter profit on Thursday, weighed down by a fall in refining margins. International oil refiners have actually seen their profit retreat this year from the post-pandemic peaks, mainly due to a need downturn, particularly in China. In the United States, where demand has lagged expectations, the 3-2-1 crack spread >, a market metric utilized to assess refiners' margins on both fuel and diesel put together, balanced $20.18 in the July-September duration, down nearly 35% from in 2015. The seventh-largest U.S. refiner said its earnings was up to $...

Canadian supermarket merchant Loblaw Companies missed thirdquarter revenue estimates on Wednesday, injured by a downturn in the demand for its inessential products such as home items and electronics. Customers have been keeping back on discretionary costs as costs remain fairly high in spite of inflationary patterns declining, harming need for higher-end brands provided by sellers such as Loblaw. However, need for worth offers has assisted Loblaw's. discount rate banners such as No Frills and Maxi. Drug front store sales reflected ongoing strength in. the appeal classification however were pressed by the Business's exit. from certain low margin electronics classifications and...

ArcherDanielsMidland has looked for an extension to submit its thirdquarter financial report, stating it might not satisfy the due date without unreasonable effort and expense, the worldwide grain trader stated in a. regulative filing. The reiterated filings, which ADM stated would be launched soon,. will consist of some newly determined mistakes on intersegment sales. for all three of its primary units. The Chicago-based grain trader stated it has identified some. transactions in between Ag Services and Oilseeds and Carbohydrate. Solutions segments that were not accounted for consistently as. per sector reporting standards. This is the second time this year that...

Canada's Suncor Energy raised its quarterly dividend on Tuesday after the integrated oil and gas company beat price quotes for thirdquarter revenue, as it taken advantage of greater oil production and need for refined products. Information from the U.S. Energy Details Administration revealed that the country's overall oil usage increased in July to the highest seasonal level given that 2019. In July, gasoline demand was also at the greatest seasonal levels given that 2019, whereas jet fuel need was the greatest for any month because August 2019. The Canadian company's quarterly upstream production was up 20%. at 828,600 barrels each...

The heads of the World Bank and International Monetary Fund on Tuesday stated they would deal with the incoming U.S. president, Republican Donald Trump, highlighting the value of private sector funding for establishing nations struck by environment modification. IMF chief Kristalina Georgieva informed a panel during the U.N. COP29 climate summit in Azerbaijan that the global lending institution had dealt with Trump during his previous term and eagerly anticipated doing so again. They have a mandate from the American people, she said. Asked about the impact of Trump's election on the IMF's. environment work, Georgieva stated she was positive that...

Oil prices increased on news on Monday that output at Norway's huge Johan Sverdrup oilfield has been halted, contributing to earlier gains originating from escalation in the RussiaUkraine war. Brent unrefined futures were up $1.52, or 2.14%, to $ 72.56 a barrel at 1503 GMT, while U.S. West Texas Intermediate unrefined futures were at $68.41 a barrel, up $1.39 cents, or 2.07%. Norway's Equinor stated it had actually halted output from its Johan Sverdrup oilfield, western Europe's biggest, due to an onshore power interruption, without a clear timeline for its reboot. Oil rates rose on the news as the failure...

Iran's condensate exports to China and the United Arab Emirates will most likely decrease if U.S. Presidentelect Donald Trump tightens up sanctions on Tehran, but supply to Venezuela would continue, analysts at consultancy FGE said. Balancing out the loss in Iranian supply, more condensate will be produced from projects in Qatar and Saudi Arabia from 2026, they added. Condensate, an ultra light oil, is usually processed at splitters to produce mainly petrochemical feedstock naphtha or used as a diluent for heavy crude such as those from Venezuela. Iran presently exports 100,000-150,000 barrels daily (bpd). of condensate which generally goes to...

Oil rates alleviated on Tuesday as investor frustration over China's latest stimulus plan and oversupply issues weighed on the marketplace, together with a stronger dollar. Brent crude futures fell 17 cents, or 0.2%, to $ 71.66 a barrel, by 0550 GMT. U.S. West Texas Intermediate crude futures were at $67.84 a barrel, down 20 cents or 0.3%. Both agreements had actually fallen by more than 5% over the previous two trading sessions. China unveiled a 10-trillion-yuan ($ 1.4-trillion) financial obligation package on Friday to relieve city government financing stress, as the world's most significant oil importer deals with fresh pressure...

Oil prices were little changed in early trading on Tuesday, waiting for more rate direction from OPEC's month-to-month report after China's stimulus strategy and oversupply issues took the wind out of markets in prior sessions. Brent unrefined futures fell 1 cent to $71.82 a barrel, by 0158 GMT. U.S. West Texas Intermediate unrefined futures were at $68.07 a barrel, up 3 cents. Both agreements had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ($ 1.40 trillion) financial obligation package to ease city government financing strains, however experts said it...

Oil prices fell on Friday on declining fears over the effect of Cyclone Rafael on oil and gas facilities in the U.S. Gulf while financiers also weighed up fresh Chinese economic stimulus. Brent petroleum futures lost $1.17, or 1.55%, to $ 74.46 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI). crude was down $1.31, or 1.81%, at $71.05. The criteria have actually reversed Thursday's gains of nearly 1%,. but Brent and WTI are still on track to finish 2% up over the. week, with investors also analyzing how U.S. President-elect. Donald Trump's policies may affect oil supply and...

China faces a capture on products of cheap Iranian crude, which make up about 13% of imports by the world's most significant buyer of oil, if Donald Trump increases enforcement of sanctions on Tehran after his return as U.S. president in January. Trump, who won Tuesday's election, Edison Research study predicted, is anticipated throughout his 2nd term to re-impose his optimal pressure policy of increased sanctions on Iran's oil industry over issues about its nuclear programme, say Iranian, Arab and Western officials. Such a relocation would raise the cost of China's imports, piling pressure on a refining sector coming to...

Oil prices traded in a. narrow range on Tuesday ahead of what is anticipated to be an. remarkably close U.S. governmental election, after rising. more than 2% in the previous session as OPEC+ delayed strategies to. hike production in December. Brent crude futures ticked up 14 cents, or 0.19%, to. $ 75.22 a barrel by 0400 GMT, while U.S. West Texas Intermediate. crude was at $71.6 a barrel, up 13 cents, or 0.18%. We are now in the calm before the storm, IG market analyst. Tony Sycamore stated. Oil prices were supported by Sunday's announcement from the. Organization of the...

OPEC oil output rebounded in October from its lowest this year the previous month as Libya resolved a political crisis, a Reuters survey found, although a. additional Iraqi effort to fulfill its cuts vowed to the wider OPEC+. alliance limited the gain. The Organization of the Petroleum Exporting Countries pumped. 26.33 million barrels each day last month, up 195,000 bpd from. September's overall, the survey on Monday found, with Libya. posting the biggest gain. Libyan output recuperated after the resolution of a disagreement. over control of the central bank, permitting full production to. resume at oilfields. The extra supply put...

Oil prices increased on Thursday, extending the previous day's rally, driven by optimism over U.S. fuel demand following an unanticipated drop in crude and gas stocks, while reports that OPEC+ may postpone a. scheduled output increase offered support. Brent crude futures gained 47 cents, or 0.65%,. to $73.02 a barrel by 0505 GMT. U.S. West Texas Intermediate. crude futures, which are set to expire later in the day,. climbed 43 cents, or 0.63%, to $69.04 per barrel. Both contracts rose more than 2% on Wednesday, after falling. more than 6% earlier in the week on the reduced risk of a...

Oil prices increased on Thursday, extending the previous day's rally, driven by optimism over U.S. fuel demand following an unforeseen drop in crude and gasoline inventories, while reports that OPEC+ might delay an organized output boost offered assistance. Brent crude futures gained 35 cents, or 0.5%, to $ 72.90 a barrel by 0029 GMT. U.S. West Texas Intermediate crude futures climbed 32 cents, or 0.5%, to $68.93 per barrel. Both agreements rose more than 2% on Wednesday, after falling more than 6% earlier in the week on the decreased risk of broader Middle East war. U.S. gasoline stockpiles fell unexpectedly...

OPEC+ could postpone a. planned hike in oil production arranged to take effect in. December by a month or more, three sources informed Reuters on. Wednesday, pointing out concern about soft oil need and increasing. supply. The prepared 180,000 barrels per day hike in December, which. is arranged to come from the 8 OPEC+ members who have been. making the group's newest layer of output cuts, was already. postponed from October in the middle of falling rates. Two of the sources, who are people familiar with OPEC+. talks, stated the December increase might be postponed for a month. a minimum...

Oil huge Saudi Aramco wants to invest in the oil refinery sector and petroleum distribution in Vietnam, the Southeast Asian nation's. federal government stated in a declaration released late on Tuesday. The statement came after a meeting in between Prime Minister. Pham Minh Chinh and Saudi Aramco's president Amin. Al-Nasser in Riyadh during Chinh's check out to the Middle East. Vietnam has great prospective in the area, therefore,. Aramco wishes to buy oil refinery and gas circulation. in the country, the Vietnamese federal government statement said. Aramco prompted authorities to create beneficial conditions to. boost cooperation with Vietnamese partners, the...