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Refinery Margin Tracker: Atlantic Coast margin rally aided by Philadelphia refinery fire

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New York — US Atlantic Coast refinery margins moved up sharply on Friday after an early morning fire cut rates at the region’s largest refinery, with expectations higher margins will continue into the current week, an analysis from S&P Global Platts showed on Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

Trump warns of more Iran sanctions with fewer targets remaining

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By Saleha Mohsin and Ladane Nasseri on 6/24/2019 WASHINGTON and DUBAI (Bloomberg) — President Donald Trump is threatening Iran with additional sanctions on Monday, but there’s not much left for the U.S. to target because most of the Islamic Republic’s economy has been crippled by earlier penalties. The U.S. is already sanctioning significant sectors including Read More

Dubai crude structure softens despite Middle East conflict escalation

1 day ago DieselGasoil Comments Off on Dubai crude structure softens despite Middle East conflict escalation
Market structure for Middle East sour crude led by Dubai futures slackened in mid-morning trading in Asia on Monday, despite heightened geopolitical tensions in the region. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Dubai’s discount to Brent on the August EFS (Exchange Futures for Swaps spread) widened as Read More

Libya warns against calls to shut all of nation’s oil production

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Dubai — Libya’s state-run National Oil Corporation warned against recent calls to shut the nation’s oil production, saying it’s a “crucial source of income” that benefits all citizens. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Any deliberate disruption of oil sector operations will severely impact national revenue streams, Read More

Iran says its airspace is fully safe and secure: Tasnim

3 days ago DieselGasoil Comments Off on Iran says its airspace is fully safe and secure: Tasnim
DUBAI (Reuters) – Iran’s Civil Aviation Organization said on Saturday the country’s airspace was safe for airlines to fly through, the semi-official Tasnim news agency reported, amid heightened tension between Tehran and Washington. “Iran-controlled airspace over the Persian Gulf and other flight routes are completely safe,” its spokesman, Reza Jafarzadeh, was quoted as saying. The Read More

US-Iran rhetoric keeps sour crude structure afloat

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Singapore — The Middle East sour crude complex was steady to a touch firmer in mid-morning trading hours in Asia on Friday, as continuing statements from the US attributing recent attacks in the Persian Gulf to Iran kept a floor under prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More

Exclusive: Chevron Phillips Chemical in bid to acquire Nova Chemicals – sources

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(Reuters) – ​Chevron Phillips Chemical Company LP, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday. Abu Dhabi’s Mubadala Investment Co, the owner of Nova Chemicals, has been exploring a sale of the Read More

First Murban cargo declared through Dubai MOC process

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Singapore — The Platts crude Market on Close assessment process in Asia saw its first cargo of Murban crude declared via a convergence of Dubai partials on Thursday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now France’s Total declared the 500,000 barrel clip of Abu Dhabi light sour crude Read More

Brent/Dubai spread flirts with $3/b on Asian demand pickup

5 days ago DieselGasoil Comments Off on Brent/Dubai spread flirts with $3/b on Asian demand pickup
Singapore — The Brent/Dubai EFS arbitrage spread narrowed to near $3/b in mid-morning trading hours in Asia Thursday, as an uptick in physical buying activity in the Middle East spot market kept a floor under market structure. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 11 am in Read More

Wizz Air CEO looks to connect the dots with new long-range A321s

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FILE PHOTO: CEO of Wizz Air, Jozsef Varadi speaks during the unveiling ceremony of the 100th plane of its fleet at Budapest Airport, Hungary, June 4, 2018. REUTERS/Bernadett Szabo/File Photo LE BOURGET, France (Reuters) – Wizz Air will use 20 new extended-range, narrow body Airbus jets primarily to connect existing destinations in its disparate network Read More