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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

U.S. generation of renewable fuel credits fall modestly in June – EPA

3 days ago DieselGasoil Comments Off on U.S. generation of renewable fuel credits fall modestly in June – EPA
NEW YORK (Reuters) – The United States generated slightly fewer renewable fuel blending credits in June from the prior month, the Environmental Protection Agency (EPA) said on Thursday. FILE PHOTO: A fuel nozzle from a bio diesel (gasoil) fuel pump is seen in this photo illustration taken at a filling station in San Diego, California Read More

Uptick in demand lifts Dubai sour crude premiums

4 days ago DieselGasoil Comments Off on Uptick in demand lifts Dubai sour crude premiums
Singapore — Benchmark Dubai crude spreads strengthened in mid-morning trading in Asia Thursday, backed by demand uptick for Middle East crudes from North Asian refineries in the wake of healthy margins, traders said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Indicating strength for the medium sour complex, Dubai’s Read More

FEATURE: Canadian oil traders see IMO 2020 risk easing on demand, changing market

4 days ago DieselGasoil Comments Off on FEATURE: Canadian oil traders see IMO 2020 risk easing on demand, changing market
Houston — A surging differential for Western Canada’s benchmark heavy crude has traders and analysts wondering if predictions that tighter sulfur requirements for marine fuel will devalue the country’s oil assets are overblown. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Nobody is talking about IMO 2020 anymore,” one Read More

Compliance with IMO 2020 likely around 90%-95% in initial years: consultant

5 days ago DieselGasoil Comments Off on Compliance with IMO 2020 likely around 90%-95% in initial years: consultant
Singapore — Compliance with the International Maritime Organization’s global sulfur limit for marine fuels will likely settle around 90% or 95% in the initial years after 2020, well above some industry estimates that pointed to compliance of 70%-80% a year ago, a bunker industry veteran and senior partner at 2020 Marine Energy, Adrian Tolson, said Read More

Oil extends loss as U.S. and Iran signal return to negotiations

5 days ago DieselGasoil Comments Off on Oil extends loss as U.S. and Iran signal return to negotiations
By Alex Nussbaum and Alex Longley on 7/16/2019 NEW YORK and LONDON (Bloomberg) —Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm. Futures fell as much as 3.2% in New York on Tuesday, after Read More

Oil firms as U.S. supply concerns ease but Iran tension lingers

6 days ago DieselGasoil Comments Off on Oil firms as U.S. supply concerns ease but Iran tension lingers
LONDON (Reuters) – Oil prices rose on Tuesday as a resumption of output in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply due to shale oil countered tensions in the Middle East. FILE PHOTO: Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France November 14, 2018. REUTERS/Christian Hartmann Read More

Oil steadies as U.S. supply concerns ease, Iran tension unresolved

6 days ago DieselGasoil Comments Off on Oil steadies as U.S. supply concerns ease, Iran tension unresolved
LONDON (Reuters) – Oil prices steadied on Tuesday as a resumption of output in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply due to shale oil countered tensions in the Middle East. FILE PHOTO: Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France November 14, 2018. REUTERS/Christian Hartmann Read More

Oil prices nudge up on Chinese economic data

7 days ago DieselGasoil Comments Off on Oil prices nudge up on Chinese economic data
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. A horizontal drilling rig on a lease owned by Parsley Energy operates at sunrise in the Permian Basin near Midland, Texas Read More