Relative strength in premiums for the sour Middle Eastern crude market seen in recent days showed continued upward momentum Wednesday, as Asian refiners look to cover winter requirements and Chinese buyers look to re-stock, trading sources ...
Tags: Premiums, Metallurgy, Mineral, Energy
Refining capacity expansions in China have been largely on track this year although the country's relatively weaker growth in oil demand could delay some projects and result in lower utilization rates, analysts said this week. Up to 1.3 ...
Tags: oil, Metallurgy, Mineral
Despite a new oil product pricing mechanism introduced by the central government in March, China's state refiners continued to suffer in the downstream in the second quarter because of poor domestic demand, their interim results showed. ...
Tags: oil product, gasoil demand
US ethanol production fell 13,000 b/d to a three-week low of 844,000 b/d the reporting week ended August 16, but ethanol stocks rose 57,000 barrels to 16.482 million barrels, Energy Information Administration data showed Wednesday. The ...
GM corn hoax hits Mexico Alfalfa acreage increase predicted US cotton producers share latest crop findings Pitting farmers against farmers is just one of the negative consequences of U.S. policy that mandates that gasoline be blended with ...
Tags: Agriculture, Food, GM corn, cotton
China's apparent oil demand in July rose 6.6% year on year to 41.52 million mt or an average 9.82 million b/d, according to Platts' estimates based on recently released preliminary government data. Apparent oil demand was, however, 1.7% ...
Tags: Oil Demand
Calgary, Alberta-based TransCanada said Thursday that it will move forward with the 1.1 million barrel per day (bbl/d) Energy East Pipeline project based on binding, long-term contracts received from producers and refiners. The conclusion ...
Tags: Crude Oil Pipeline, Mineral
China's apparent oil demand in June surged 11.7% year on year to 40.89 million mt, or an average 9.99 million b/d, according to Platts' estimates Monday, based on the latest preliminary government data. This is the highest growth rate ...
Tags: Chemicals, oil, Metallurgy, Mineral, Energy
The backwardation between FOB Amsterdam, Rotterdam Eurobob gasoline barges and the August FOB Rotterdam Eurobob swap was assessed at $21/mt Monday, the widest since November 22, 2012, Platts data shows, tracking RBOB futures, sources said. ...
Tags: Gasoline Prompt, Chemicals
India is evaluating plans to raise the import tax on refined edible oil, in order to discourage the rising shipments from Indonesia and Malaysia, which are affecting the local refiners. Currently, India imposes a 7.5% tax on edible oil ...
Tags: India, Import Tax, Oil
US commercial crude stocks fell 9.87 million barrels to 373.92 million barrels for the reporting week ended July 5, Energy Information Administration data showed Wednesday. The latest decline marks the sharpest two-week draw in US crude ...
Tags: Crude Stocks, Crude imports
Goldman Sachs said earlier this week it had closed its Brent/WTI spread trade recommendation after the ICE Brent premium to NYMEX crude fell below its target of $5/b, adding short-term scope for further narrowing remained, but pipeline and ...
Tags: Chemicals, Goldman Sachs
Physical gasoil cracks across barge and cargo markets in the Mediterranean and Northwest European regions have pared recent gains, as strength in the dated Brent benchmark on risk premiums -- related to Libyan protests and Egyptian turmoil ...
Tags: Physical gasoil, cargo markets
The Gulf Coast heating oil differential fell 75 points Wednesday as US production and stocks increased and traders cited trouble finding ships to move any export barrels. Platts assessed the Gulf Coast heating oil differential at NYMEX ...
Tags: Heating Oil, Chemicals
China's state-owned refiners plan to run their refineries at around 81% of capacity in June, a rise of three percentage points from 78% in May, Platts monthly survey showed Monday. The survey this month covered 11 Sinopec refineries, ...
Tags: China Refiners, Sinopec, PetroChina