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Sour crude spreads move higher as market sentiment firms

1 hour ago DieselGasoil Comments Off on Sour crude spreads move higher as market sentiment firms
Singapore — Timespreads for benchmark Dubai crude oil futures rose Tuesday morning in Asia as market sentiment firmed for Middle East sour crude, amid strong demand from North Asian refiners. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10 am in Singapore (0200 GMT), the September/October spread for Read More

Asian gasoline lends support to light ends while naphtha, LPG sag on oversupply

1 day ago DieselGasoil Comments Off on Asian gasoline lends support to light ends while naphtha, LPG sag on oversupply
Singapore — The light ends market in Asia is showing a mixed picture, with gasoline’s strength expected to continue into September on surging regional demand and refinery turnarounds, while naphtha makes a slow start to the seasonal Q4 demand peak amid volatile crude oil prices, market sources said Friday. Not registered? Receive daily email alerts, Read More

Middle East crude steady as traders mull direction

1 day ago DieselGasoil Comments Off on Middle East crude steady as traders mull direction
Singapore — Timespreads for benchmark Dubai crude oil futures were almost unchanged Monday morning in Asia, as traders in the Middle East sour crude spot market mulled direction over the coming days, following several deals concluded last week for October-loading barrels. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More

China’s biggest energy company shuns Venezuela oil on tighter U.S. sanctions

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By Lucia Kassai on 8/16/2019 HOUSTON (Bloomberg) – China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation. China National Petroleum Corp. has canceled plans to load about 5 MMbbl of Venezuelan oil onto ships this month in the aftermath of Read More

European middle distillates cracks hit 2019 highs as crude slips

4 days ago DieselGasoil Comments Off on European middle distillates cracks hit 2019 highs as crude slips
London — European middle distillate cracks have climbed to their highest this year amid falling crude prices, a closed arbitrage from Asia and expectations of greater demand as International Maritime Organization 2020 regulations on marine fuels loom. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The front-month 10 ppm Read More

U.S. oil sanctions leave Russian exporters $1 billion richer

4 days ago DieselGasoil Comments Off on U.S. oil sanctions leave Russian exporters $1 billion richer
By Dina Khrennikova and Anya Andrianova on 8/16/2019 MOSCOW (Bloomberg) – U.S. sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters. Russian oil companies received at least $905 million in additional revenues between November and July, data compiled by Bloomberg show. The Read More

Analysis: Oct light sour crude sees upside potential on firm Asian demand

4 days ago DieselGasoil Comments Off on Analysis: Oct light sour crude sees upside potential on firm Asian demand
Light, high sulfur crude grades loading from the Persian Gulf in October and flowing into Asia have the potential to trade at higher premiums than previously expected due to firm product margins and robust demand from North Asian refiners, traders told S&P Global Platts this week. Not registered? Receive daily email alerts, subscriber notes & Read More

Sour crude spreads trade sideways despite firm spot demand

4 days ago DieselGasoil Comments Off on Sour crude spreads trade sideways despite firm spot demand
Singapore — Benchmark Dubai crude futures spreads largely traded sideways in mid-morning hours in Asia on Friday, despite several cargoes changing hands at small premiums for the October cycle in the latter half of the week. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10 am in Singapore Read More

Idling LNG tankers hint at increasing appeal of floating storage

7 days ago DieselGasoil Comments Off on Idling LNG tankers hint at increasing appeal of floating storage
By Anna Shiryaevskaya and Naureen S. Malik on 8/13/2019 LONDON (Bloomberg) – Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some traders are starting to use vessels for storage. There may be other reasons for keeping the cargoes on the water, including Read More