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China’s June exports, imports fall as trade war takes heavier toll

3 days ago DieselGasoil Comments Off on China’s June exports, imports fall as trade war takes heavier toll
BEIJING (Reuters) – China’s exports fell in June as the United States ramped up trade pressure, while imports shrank more than expected, pointing to further weakness in the world’s second-largest economy and slackening global growth. FILE PHOTO: Workers stand at the port of Qingdao, Shandong province, China June 10, 2019. REUTERS/Stringer The gloomy trade readings Read More

June imports fall at top U.S. hub for China ocean trade

4 days ago DieselGasoil Comments Off on June imports fall at top U.S. hub for China ocean trade
LOS ANGELES (Reuters) – The Los Angeles and Long Beach port complex, the nation’s busiest and the No. 1 for ocean trade with China, – handled 5.1%fewer inbound containers of cargo in June, as the trade standoff between Washington and Beijing disrupts global supply chains. FILE PHOTO: Shipping containers are pictured at Yusen Terminals (YTI) Read More

South Korea’s SK Innovation to raise supply of low sulfur fuels to 130,000 b/d next year

5 days ago DieselGasoil Comments Off on South Korea’s SK Innovation to raise supply of low sulfur fuels to 130,000 b/d next year
South Korea’s top refiner SK Innovation will increase supply of low sulfur fuels to 130,000 b/d next year, from the current 23,000 b/d, to meet stronger demand due to the implementation of marine fuel regulation by International Maritime Organization from January 1, 2020, a company official said Thursday. Not registered? Receive daily email alerts, subscriber Read More

Fujairah data: oil product inventories climb for first time in six weeks

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Dubai — Stockpiles of oil products at the Fujairah port in the UAE increased for the first time in six weeks, against a backdrop of strong summer demand from utilities in the region and for jet fuel from Europe, data released Wednesday by the Fujairah Oil Industry Zone showed. Not registered? Receive daily email alerts, Read More

Plains eyes Rockies expansion as oil shippers seek more pipeline space from Canada

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Highlights May bring quicker access to refining, export markets Line 3, Keystone XL, Trans Mountain delays stretch on WCS discount to WTI narrows to $11.60/b Tuesday Washington — Plains All American Pipeline launched an open season this week to gauge demand for an expansion of its Western Corridor pipeline system to move more oil from Read More

Fujairah data: Oil product stockpiles fall to 2019-low as middle distillates plunge 24%

2 weeks ago DieselGasoil Comments Off on Fujairah data: Oil product stockpiles fall to 2019-low as middle distillates plunge 24%
London — Oil product stockpiles at the Fujairah trading hub in the UAE fell to the lowest level this year, led by double digit declines in medium and heavy distillates amid reports of increasing demand, according to data released Wednesday by the Fujairah Oil Industry Zone. Not registered? Receive daily email alerts, subscriber notes & Read More

Canada aboriginal pipe dream might end Trudeau’s Trans Mountain nightmare

2 weeks ago DieselGasoil Comments Off on Canada aboriginal pipe dream might end Trudeau’s Trans Mountain nightmare
CALGARY, Alberta/WINNIPEG, Manitoba (Reuters) – An indigenous-led group plans to offer to buy a majority stake in the Trans Mountain oil pipeline from the Canadian government this week or next, a deal that could help Prime Minister Justin Trudeau mitigate election-year criticism from environmentalists. The Westridge Marine Terminal, the terminus of the Trans Mountain Pipeline, Read More

Analysis: Prospect of return to rate cuts puts oil prices under fresh pressure

3 weeks ago DieselGasoil Comments Off on Analysis: Prospect of return to rate cuts puts oil prices under fresh pressure
Highlights US Fed leaves door open to new stimulus cycle China, India oil demand to benefit from rate cuts OPEC cuts, supply risk, IMO 2020 also supportive London — The growing prospects of the first cut in US interest rates in a decade is expected to put further pressure on oil prices over the coming Read More

US-led effort to limit IMO 2020 compliance would not cut fuel prices: study

3 weeks ago DieselGasoil Comments Off on US-led effort to limit IMO 2020 compliance would not cut fuel prices: study
Washington — A US-led defection from next year’s tougher international marine fuel sulfur standards would be difficult, if not impossible, and would not lead to lower domestic fuel prices, according to a study released Wednesday by a group of US oil and gas producers, refiners, shippers and trade unions. Not registered? Receive daily email alerts, Read More