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Dubai crude structure up 70 cents/b on day following Saudi supply outage

14 hours ago DieselGasoil Comments Off on Dubai crude structure up 70 cents/b on day following Saudi supply outage
Singapore — November cash Dubai’s premium to futures — which had been flirting with $2/b backwardation the week prior — shot up well past that level on Monday evening at the close of trading in Singapore at 4:30 pm (0830 GMT), as sour crude markets in Asia evaluated the shut-in of 60% of Saudi Arabian Read More

Factbox: Crude prices surge as Saudi attacks expose lack of global spare capacity

15 hours ago DieselGasoil Comments Off on Factbox: Crude prices surge as Saudi attacks expose lack of global spare capacity
London — Oil markets are feeling the ramifications of the attacks on Saudi Arabia’s key Abqaiq processing facility and Khurais oil field over the weekend, which pushed crude futures up by more than 15% when markets opened Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The threat of Read More

Saudi Sep crude loadings to Asia uninterrupted, future cuts likely: survey

17 hours ago DieselGasoil Comments Off on Saudi Sep crude loadings to Asia uninterrupted, future cuts likely: survey
Singapore — Saudi Aramco’s customers across Asia continued to load September crude oil barrels from the kingdom’s facilities over the weekend and on Monday without hassle, they told S&P Global Platts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now But customers are staying cautious amidst widespread expectation of cuts Read More

Japan to release petroleum reserves if needed: METI minister

17 hours ago DieselGasoil Comments Off on Japan to release petroleum reserves if needed: METI minister
Tokyo — Japan will consider releasing petroleum reserves into oil markets, if needed, in coordination with the International Energy Agency and other countries to ensure sufficient supplies, following attacks at oil facilities in Saudi Arabia Saturday, Minister of Economy, Trade and Industry Isshu Sugawara said in a statement Monday. Not registered? Receive daily email alerts, Read More

Crude oil gains ease after record one-day advance

17 hours ago DieselGasoil Comments Off on Crude oil gains ease after record one-day advance
Singapore — Crude oil price gains receded ahead of European trading in London, after hitting record gains in earlier Asian trading, as traders look beyond the immediate shock from the loss of half of Saudi Arabia’s crude production in Saturday’s attacks on key oil facilities. Not registered? Receive daily email alerts, subscriber notes & personalize Read More

Novak says commercial oil stocks enough to cover Saudi losses

18 hours ago DieselGasoil Comments Off on Novak says commercial oil stocks enough to cover Saudi losses
Moscow — Russian energy minister Alexander Novak said Monday that commercial oil stocks are sufficient to cover any deficit in the market as a result of attacks on Saudi oil infrastructure, the Prime news agency reported. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “At present, there are enough Read More

Saudi’s Sadara cuts run rates at PE units after Saudi oil facility attack

18 hours ago DieselGasoil Comments Off on Saudi’s Sadara cuts run rates at PE units after Saudi oil facility attack
Author Hui Heng Editor Nurul Darni Commodity Oil Highlights Author Hui Heng Editor Nurul Darni Commodity Oil Saudi Arabia’s Sadara Basic Services Company has cut run rates at 350,000 mt/year low density polyethylene and 750,000 mt/year of high density/linear low density polyethylene swing units, in Jubail by 16%, due to the Saudi oil facility attack Read More

Asia high sulfur fuel oil market may reel under further supply pressure from Saudi attacks: traders

20 hours ago DieselGasoil Comments Off on Asia high sulfur fuel oil market may reel under further supply pressure from Saudi attacks: traders
Singapore — Asian high sulfur fuel oil markets are likely to come under intense pressure due to the drop in exports from Saudi Arabia following the weekend drone attacks as the leadup to the IMO 2020 sulfur cap on bunker fuel had already tightened supply in the region, traders said Monday. Not registered? Receive daily Read More

Asian LPG market seen firming amid rising Saudi supply worries

20 hours ago DieselGasoil Comments Off on Asian LPG market seen firming amid rising Saudi supply worries
Singapore — The LPG market was seen firming in Asian trade Monday morning as market participants digested news about attacks on key oil infrastructure in Saudi Arabia over the weekend. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The drone attacks early Saturday on the Abqaiq processing facility and Read More