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IMO 2020 could cause Brent price spike to $80/b by end-2019: Platts Analytics

4 days ago DieselGasoil Comments Off on IMO 2020 could cause Brent price spike to $80/b by end-2019: Platts Analytics
Highlights IMO sulfur cap to support sweet crudes Sees oil demand growth of 3.3% in 2019 Venezuelan sanctions to hit more output London — The oil market is likely to tighten further in the second half of the year due to further supply restraints and relatively healthy demand, with IMO 2020 potentially pushing Brent crude Read More

Feature: Weak Chicago distillates market sees little hope for rebound

5 days ago DieselGasoil Comments Off on Feature: Weak Chicago distillates market sees little hope for rebound
Houston — From winter storms to spring floods, severe weather this year in the US Midwest has kept farmers from planting crops, cutting regional diesel (gasoil) demand as a result. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now But even with prices at multi-month lows, the market is unlikely Read More

Fujairah data: Oil product stocks fall to 4-week low amid soft holiday trading

5 days ago DieselGasoil Comments Off on Fujairah data: Oil product stocks fall to 4-week low amid soft holiday trading
Dubai — Refined oil product stockpiles at Fujairah in the UAE fell to a four-week low as of Monday, amid muted trading during the Eid-al-Fitr holidays last week, according to data released Wednesday by the Fujairah Oil Industry Zone. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Total inventories Read More

Analysts split on whether US crude stocks will continue to build

6 days ago DieselGasoil Comments Off on Analysts split on whether US crude stocks will continue to build
Highlights Analysts look for 80,000-barrel build on average Strong margins encouraging heavy crude imports Midwest planting delays depress diesel (gasoil) demand New York — Analysts were split Monday whether this week’s US Energy Information Administration data would show a draw in crude inventories for the week ending June 7. Not registered? Receive daily email alerts, Read More

Oil just had its worst run since 2008

1 week ago DieselGasoil Comments Off on Oil just had its worst run since 2008
Oil has entered a bear market as fears of an economic downturn mount. The fundamentals look much tighter than the swoon might suggest, but the supply and demand picture is also beginning to look more negative. The EIA report was exceptionally weak, showing a strong build in crude oil (+6.8 million barrels), gasoline (+3.2 million barrels) Read More

Japan’s oil product output rises 9% on week to 19.1 mil barrels May 26-Jun 1: PAJ

2 weeks ago DieselGasoil Comments Off on Japan’s oil product output rises 9% on week to 19.1 mil barrels May 26-Jun 1: PAJ
Tokyo — Japanese refiners produced 19.1 million barrels of oil products over May 26-June 1, up 8.9% from 17.54 million barrels the week before, the Petroleum Association of Japan said Wednesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The May 26-June 1 output also rose 7% from 17.85 Read More

Cushing crude stocks growth continues, analyst discounts contango as reason

3 weeks ago DieselGasoil Comments Off on Cushing crude stocks growth continues, analyst discounts contango as reason
New York — Oil stocks at the US hub of Cushing, Oklahoma, have been steadily climbing over the past eight months despite the slight contango market structure, as demand grows for segregated crude storage. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “I don’t think Cushing storage is attractive Read More

Fujairah Data: Stockpiles rise for third week, led by middle distillates

3 weeks ago DieselGasoil Comments Off on Fujairah Data: Stockpiles rise for third week, led by middle distillates
DubaI — Oil products inventories at the Port of Fujairah climbed for a third consecutive week, led by gains in jet fuel and other middle distillates, according to Fujairah Oil Industry Zone data. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Total stockpiles of light, middle and heavy distillates Read More

Impending IMO 2020 pushes discounted Asian crudes into premiums

3 weeks ago DieselGasoil Comments Off on Impending IMO 2020 pushes discounted Asian crudes into premiums
Singapore — The fast-approaching lower sulfur cap for global maritime shipping fuels pushed prices for specific ‘cheap’ crude grades into significant premiums in H1 2019, as markets prepare for the IMO 2020 kick off in January next year, sources told S&P Global Platts this month. Not registered? Receive daily email alerts, subscriber notes & personalize Read More

U.S. natural gas and oil industry turns in strong April performance

1 month ago DieselGasoil Comments Off on U.S. natural gas and oil industry turns in strong April performance
5/17/2019 WASHINGTON — The American Petroleum Institute’s latest Monthly Statistical Report (MSR) shows U.S. crude oil production sustained a record-tying 12.1 MMbopd in April 2019 while total petroleum demand was the highest for the month since 2007 at 20.2 MMbpd. Other April highlights include: U.S. petroleum demand grew 1.2% year to year (y/y) in April. Read More