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Saudi crown prince calls for ‘decisive’ stand against Iran after attacks

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Dubai — Saudi Arabia’s crown prince Mohammed bin Salman called for a “decisive” stand from the international community against Iran, which he blamed for recent attacks on oil tankers in the Gulf of Oman and facilities in the kingdom. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In an Read More

G20 ministers urge more energy security cooperation after tanker attacks

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Karuizawa, Japan — G20 energy ministers on Sunday stressed the need for more international cooperation to ensure energy security in the wake of recent petroleum tanker attacks near the Strait of Hormuz, Japan’s Minister of Economy, Trade and Industry Hiroshige Seko said Sunday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Interview: Abundant oil supply prevented spike to $140/b after ship attacks – US DOE deputy

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Karuizawa, Japan — A “very well-supplied” oil market prevented prices from spiking to $140/b last week when two oil product tankers were attacked near the Strait of Hormuz, US Deputy Energy Secretary Dan Brouillette said Saturday in an interview with S&P Global Platts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Mexico’s CNH cancels Pemex onshore farmout auctions

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Highlights Fields have combined 58,000 b/d, 310 MMcf/d production potential Follows earlier auction cancelations, moves to bolster Pemex Houston — Mexico’s Comision Nacional de Hidrocarburos has announced plans to cancel a joint venture auction for state-owned Pemex in seven onshore areas, previously scheduled for October, under pressure from the Lopez Obrador administration. Not registered? Receive Read More

Crude settles higher on supply concerns as traders eye Strait of Hormuz

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New York — Supply concerns remain after Thursday’s tanker attack Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now UN Secretary-General calls for independent investigation IEA monthly report sees growing non-OPEC crude supply Crude futures settled higher Friday as supply concerns stemming from the attack on two oil tankers near Read More

Shipowners hold back from taking bookings for Middle East cargoes

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Singapore — A large number of shipowners were not accepting bookings for Middle East cargoes on Friday, citing lack of clarity on safety after Thursday’s attacks on two tankers in the Gulf of Oman, Singapore-based shipbrokers and Asian market sources said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More

IEA monitoring oil tanker attacks, stands ready to respond: Birol

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Highlights Birol calls attacks near Strait of Hormuz ‘major concern’ for global energy security Karuizawa, Japan — The alleged attacks on two oil tankers near the Strait of Hormuz represent a major concern for global energy security, International Energy Agency Executive Director Fatih Birol said Friday, adding that the agency stands ready to respond. Not Read More

Analysis: Asian refiners may trim sour crude intake on Dubai backwardation, tanker fire

3 days ago DieselGasoil Comments Off on Analysis: Asian refiners may trim sour crude intake on Dubai backwardation, tanker fire
Singapore — Asian refiners are increasingly finding reasons to cut their exposure to Middle Eastern crude in the second half of 2019 amid prolonged backwardation in the Dubai benchmark price structure and the latest tanker fire incident in the Gulf of Oman. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More

Crude settles higher as tanker attacks outweigh demand concerns

4 days ago DieselGasoil Comments Off on Crude settles higher as tanker attacks outweigh demand concerns
New York — Crude futures climbed Thursday as geopolitical concerns following a suspected attack on tankers near the Gulf of Oman outweighed a lower demand projection from OPEC. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX July crude settled $1.14 higher at $52.28/b, while ICE August Brent settled Read More

Analysis: US oil and gas rig count reverses two-week decline: Platts Analytics

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Highlights Reverses two weeks of double-digit declines Permian returns 8 rigs to field Denver — US oil and natural gas rigs totaled 1,053 for the week ended June 12, according to data by S&P Global Platts Analytics. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now This represents a net Read More