US Gulf coast heating oil prices have sunk to deep discounts to an intermediate grade for which it can potentially substitute. But prices are not rebalancing based on interchangeability, because refiners are focused on cutting gasoline production.
News ID: 9269 Publish Date : 2020/04/29
China is poised to cut oil product exports in April as lockdowns across the world to limit the coronavirus pandemic sapped global demand, according to refiners , traders and analysts.
News ID: 9083 Publish Date : 2020/04/08
South Korea is deferring taxes on crude imports for the next three months to help refiners and other buyers weather a slump in fuel demand caused by the Covid-19 pandemic.
News ID: 9077 Publish Date : 2020/04/08
Venezuelan president Nicolas Maduro's administration has not budged under a year of US sanctions targeting the Opec member's oil industry, but the halt in shipments from the third-largest source of heavy crude for the US reshaped trade flows to complex refineries.
News ID: 8332 Publish Date : 2020/01/24
Venezuelan state-owned PdV is currently importing about 60,000 b/d of gasoline, a fraction of normal demand that its broken refineries are no longer able to meet, according to an internal oil ministry report obtained by Argus.
News ID: 6994 Publish Date : 2019/10/16
Rates to charter oil tankers from the Persian Gulf, United Kingdom and the US Gulf Coast to Asia surged to fresh highs on Friday as global oil traders grappled with a tanker shortage in the aftermath of US sanctions on units of Chinese giant COSCO.
News ID: 6631 Publish Date : 2019/10/12
China's plans to levy 5% tariff on US crude imports from September 1 caused a drop in benchmark crude prices Friday, jeopardized seaborne US crude shipments heading to China and limited buying interest in US crude from Chinese refiners .
News ID: 6162 Publish Date : 2019/08/25
Although refiners in Asia are not left without choice for crude after the end of the US sanction waivers for Iranian oil, the higher price of alternative supplies, as well as soaring fuel exports from China, are depressing refining margins across Asia.
News ID: 4727 Publish Date : 2019/06/02
Aglobal shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for the summer.
News ID: 4655 Publish Date : 2019/05/28
Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member, four sources said.
News ID: 4290 Publish Date : 2019/04/10
Oil refiners are getting ready for a boom. The plants in Europe and the US are scaling back planned maintenance later this year in anticipation of a surge in demand and fatter margins as the shipping industry gets ready for a historic fuel switch.
News ID: 4079 Publish Date : 2019/03/19
Japanese refiners are seeking clarity on whether there will be an extension to the 180-day sanctions waiver from Washington in March, as they hope to continue buying Iranian oil without any disruption, Petroleum Association of Japan's president Takashi Tsukioka said Friday.
News ID: 3711 Publish Date : 2019/02/23
Indian refiners are increasingly optimistic on winning another round of waiver to continue buying Iranian oil, at reduced levels, as New Delhi has put forward a strong case to Washington that it will not be able to afford zero Iranian crude, delegates attending a three-day petroleum conference in New Delhi said.
News ID: 3603 Publish Date : 2019/02/12
The Asian jet fuel/kerosene spot market was boosted by record high travel demand in the US during the summer, and cash differentials were in positive territory.
News ID: 2293 Publish Date : 2018/09/28