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Crude oil futures gain on rising geopolitical tensions; Libya

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Singapore — Crude oil futures kicked off the week on a stronger note in mid-morning trade in Asia Monday, buoyed by renewed supply concerns on mounting geopolitical tensions in the Middle East, after Iran seized a UK chemical tanker and briefly detained a UK-owned VLCC in the Strait of Hormuz Friday. Not registered? Receive daily Read More

Libya declares force majeure on Sharara crude loaded at Zawiya: NOC

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Dubai — Libya’s state-owned National Oil Corporation said Saturday it declared force majeure on Sharara crude loaded at Zawiya port due to an unlawful closure of a valve. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NOC said 290,000 b/d of production at the Sharara oil field has been Read More

Iran seizes two UK tankers, ratchets up Strait of Hormuz oil flow risks

2 days ago DieselGasoil Comments Off on Iran seizes two UK tankers, ratchets up Strait of Hormuz oil flow risks
Highlights Stena Impero chemical tanker seized, VLCC Mesdar released Iran’s IRGC says it seized Stena Bulk for shipping violation: state TV UK foreign secretary ‘extremely concerned’ by incidents Washington — Iran seized a UK chemical tanker and briefly detained a UK-owned VLCC in the Strait of Hormuz Friday, ratcheting up regional tensions and risks to Read More

USGC octane prices slip as gasoline complex softens, exports dip

2 days ago DieselGasoil Comments Off on USGC octane prices slip as gasoline complex softens, exports dip
US Gulf Coast octanes took a fall Thursday, softened by weaker gasoline prices and decreased exports. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Of the blendstocks, alkylate saw the steepest day-on-day fall and was assessed by S&P Global Platts at pipeline gasoline plus 48 cents/gal. The USGC gasoline Read More

UK chemicals tanker attacked in Strait of Hormuz: owner Stena Bulk

2 days ago DieselGasoil Comments Off on UK chemicals tanker attacked in Strait of Hormuz: owner Stena Bulk
Washington — The UK-flagged Stena Impero chemicals tanker was attacked Friday by “unidentified small crafts and a helicopter” while transiting the Strait of Hormuz and is heading toward Iran, owner Stena Bulk confirmed. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Iran’s Islamic Revolutionary Guard Corps said it seized Read More

Analysis: DME Oman benchmark move backfires as open interest stalls

3 days ago DieselGasoil Comments Off on Analysis: DME Oman benchmark move backfires as open interest stalls
Highlights Questions about underlying appeal of DME Oman as a benchmark Open interest on DME Oman forward curve has flat-lined Scratch trades underpinning DME Oman volumes, say traders London — Almost a year since Saudi Arabia picked Dubai Mercantile Exchange’s Oman benchmark to help set official selling prices for crude in Asia, open interest in Read More

IEA ‘significantly’ concerned on Strait of Hormuz, sees well-supplied oil markets: Birol

3 days ago DieselGasoil Comments Off on IEA ‘significantly’ concerned on Strait of Hormuz, sees well-supplied oil markets: Birol
New Delhi — The International Energy Agency is “significantly” concerned about geopolitical tensions, including in the Strait of Hormuz, but oil markets are currently well supplied and unlikely to see “huge price increases for now,” the head of the agency said Friday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More

Japan says ‘seriously concerned’ on Middle East tensions after US announcement on drone

3 days ago DieselGasoil Comments Off on Japan says ‘seriously concerned’ on Middle East tensions after US announcement on drone
Tokyo — Japan is “seriously concerned” about rising Middle East tensions in the wake of the US announcement of the shooting down of an Iranian drone in the Strait of Hormuz, Deputy Chief Cabinet Secretary Yasutoshi Nishimura said Friday, as risks to oil flows remain high. Not registered? Receive daily email alerts, subscriber notes & Read More