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Shipping rates for Middle East oil are surging

5 days ago DieselGasoil Comments Off on Shipping rates for Middle East oil are surging
By Alaric Nightingale and Firat Kayakiran on 6/21/2019 LONDON (Bloomberg) –Oil tanker owners are raising the prices they charge to export Middle East crude as tensions surge in a region that accounts for about a third of all seaborne petroleum shipments. Rates for transporting 2 MM-bbl cargoes from Saudi Arabia to China jumped to almost Read More

Asian sweet crude market weakens for August cycle on poor margins

5 days ago DieselGasoil Comments Off on Asian sweet crude market weakens for August cycle on poor margins
Singapore — Traded differentials for Asian sweet crude grades fell across the board for the August trading cycle, weighed down by greater supply this month and weak demand as refiners cut run rates amid poor refining margins, trade sources said Friday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More

US-Iran rhetoric keeps sour crude structure afloat

5 days ago DieselGasoil Comments Off on US-Iran rhetoric keeps sour crude structure afloat
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

First Murban cargo declared through Dubai MOC process

6 days ago DieselGasoil Comments Off on First Murban cargo declared through Dubai MOC process
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

Iraqi Basrah crude prices plummet on fading Chinese demand

6 days ago DieselGasoil Comments Off on Iraqi Basrah crude prices plummet on fading Chinese demand
Singapore — Premiums for Iraq’s Basrah Heavy crude grade fell sharply this month as Chinese demand for the grade dimmed on lower refinery run rates, traders said on Thursday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now A spot tender offering 1 million barrels of Basrah Heavy crude grade Read More

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

6 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

SmartRent funding heralds new wave in ‘smart home’ market

6 days ago DieselGasoil Comments Off on SmartRent funding heralds new wave in ‘smart home’ market
NEW YORK (Reuters) – A producer of “smart home” software that helps landlords cut operating costs such as shuttling keys to waiting maintenance workers or guiding tours for prospective tenants has raised $32 million from Bain Capital Ventures and the owners of nearly 1 million U.S. apartments. A view of a neighborhood in the town Read More

Wall Street takes on long-term care payouts as insurers balk at costs

7 days ago DieselGasoil Comments Off on Wall Street takes on long-term care payouts as insurers balk at costs
NEW YORK (Reuters) – Some U.S. insurers are turning to Wall Street’s financial wizards for relief from the liabilities of their long-term care (LTC) policies, posing a challenge for regulators worried about how new industry players will tackle the risks involved. FILE PHOTO: A street sign is seen in front of the New York Stock Read More

Middle East sour crude prices rebound as buyers emerge for August

1 week ago DieselGasoil Comments Off on Middle East sour crude prices rebound as buyers emerge for August
Price differentials for Middle East grades seemed to have found the bottom after spot market rates fell sharply earlier this month on lackluster demand and ample supply for the August trading cycle, trading sources said Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Asian refiners, who have been Read More