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Take Five: Fed in a hole

9 hours ago DieselGasoil Comments Off on Take Five: Fed in a hole
(Reuters) – FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis 1/FED IN A HOLE On Wednesday, the U.S. Federal Reserve releases the minutes of its last meeting, revealing what policymakers said about the flattening Treasury yield curve and the strength of support for July’s Read More

Canada awards multi-billion contract to General Dynamics as election looms

11 hours ago DieselGasoil Comments Off on Canada awards multi-billion contract to General Dynamics as election looms
FILE PHOTO: The General Dynamics Land Systems – Canada factory is seen in London, Ontario, Canada October 23, 2018. REUTERS/Chris Helgren OTTAWA (Reuters) – Canada on Friday announced a multi-billion dollar contract with General Dynamics Corp for equipment that will be manufactured in a region where the ruling Liberals need to do well in an Read More

Amazon.com defeats IRS appeal in U.S. tax dispute

13 hours ago DieselGasoil Comments Off on Amazon.com defeats IRS appeal in U.S. tax dispute
(Reuters) – Amazon.com Inc on Friday defeated an appeal by the U.S. Internal Revenue Service in what the online retailer has called a $1.5 billion dispute over its tax treatment of transactions with a Luxembourg subsidiary. FILE PHOTO: An Amazon package is seen after being delivered in London, Britain February 29, 2016. REUTERS/Toby Melville/Files In Read More

Frac companies get fresh hope UK government will loosen rules

16 hours ago DieselGasoil Comments Off on Frac companies get fresh hope UK government will loosen rules
By Timothy Abington and Jeremy Hodges on 8/16/2019 LONDON (Bloomberg) – A change of British government has given the much-maligned fracing industry another opportunity to make out its case for stimulating the controversial technique to tap unconventional natural gas reserves. Prime Minister Boris Johnson and his new business minister, Andrea Leadsom, have come out in Read More

OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook

16 hours ago DieselGasoil Comments Off on OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook
London — Led by its kingpin Saudi Arabia, which said it pumped at its lowest level in more than five years, OPEC on Friday reported it slashed its crude production in July, as it continues to battle slumping oil prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC Read More

OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus

18 hours ago DieselGasoil Comments Off on OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus
LONDON (Reuters) – OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply. FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) Read More

European middle distillates cracks hit 2019 highs as crude slips

18 hours 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

Benzene market tightens on naphtha supply buildup

18 hours ago DieselGasoil Comments Off on Benzene market tightens on naphtha supply buildup
Highlights Naphtha-benzene spread hits two-year high Naphtha oversupply pressuring pricing London — The spread between benzene and naphtha hit a two-year high this week at $385/mt Wednesday — the widest point since December 2017. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The spread was last seen at $353/mt Read More

Refinery news roundup: Minor works at Russian refineries, Antipinsky back

20 hours ago DieselGasoil Comments Off on Refinery news roundup: Minor works at Russian refineries, Antipinsky back
London — Only minor works were heard at Russian refineries before the start of the autumn refinery turnaround season in October. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Meanwhile, the Antipinsky refinery resumed operations on July 18, Sberbank said in a statement. Socar Energoresurs, a joint venture between Read More

OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

20 hours ago DieselGasoil Comments Off on OPEC sees ‘somewhat bearish’ oil outlook even as market tightens
By Grant Smith on 8/16/2019 LONDON (Bloomberg) – Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though supplies will be tighter than previously thought, OPEC said. The Organization of Petroleum Exporting Countries, which pumps about a third of the Read More