Unseasonably strong gasoline demand is proving for US refiners to be the gift that keeps on giving this holiday season, as support from seasonal diesel demand is tamped down by record high temperatures across much of the US. Gasoline ...
South Korea's crude oil imports fell 3.7% on year in November, marking the first decline in more than a year. The country imported 79.9 million barrels of crude oil in November, down from 83 million barrels a year earlier, preliminary ...
Tags: Crude Imports, oil products
The unveiling of final renewable fuel requirements for US refiners ignited a rally in gasoline futures Tuesday, helping support the rest of the oil complex. The front-month gasoline crack, basis ICE Brent, reached $13.61/b Tuesday, its ...
Tags: RBOB, gasoline, Renewable Fuels
When Congress announced the US Renewable Fuel Standard a decade ago the aim was to combat the growing need for foreign oil as well as increase the production and promotion of clean, renewable biofuels. As 2016 approaches, and the ...
Tags: Renewable Fuel, oil, gasoline
With colder temperatures finally hitting much of the northern US last week, many in the oil market will have their eyes on US distillate stocks when the US Energy Information Administration releases its weekly inventory data Wednesday. ...
Some independent teapot refiners in China's eastern Shandong province will be ramping up crude oil imports over the next month in a bid to utilize their import quotas before the end of the year, trade sources said this week. This is ...
Tags: Teapot Refiners, crude oil
Demand for imported crude, petroleum bitumen blend and straight-run fuel oil by independent teapot refineries in China's eastern Shandong province was relatively weak over this week, given narrowing refining margins on lower oil prices in ...
Tags: crude, petroleum bitumen, fuel oil
Dry bulk shipowners are heading toward 2016 with the prospect of one fewer cargo option on the key loading region of the US Gulf Coast, as new environmental legislation introduced by Beijing this summer could mean China will no longer be ...
China's state-owned oil giants Sinopec and PetroChina reported a modest 1.73 million mt or 0.7% increase in their domestic oil products sales in the first nine months of 2015, but exports rose by 2.59 million mt or 12% in the same period, ...
Dated Brent has fallen to a nine-week low, with uncommitted November Brent and Forties cargoes weighing on values amid weak local refinery uptake of the grade, sources said. Dated Brent fell to Forward Dated Brent minus 51 cents/b Monday, ...
Tags: Dated Brent, refiners, crudes
China's independent teapot refiners are showing little interest in participating in Russian M100 tenders that are set to be issued in late September or early October, market sources said Thursday. Only two 40,000 mt cargoes of Russian ...
Tags: Teapot Refineries, Refineries
China's refinery throughput rose 4.3% year on year to 43.54 million mt or an average 10.30 million b/d in July, preliminary data from the National Bureau of Statistics showed Wednesday. The July rate was down slightly from 10.59 million ...
Tags: Refinery, oil demand
Leo W. Gerard, international president of the United Steelworkers (USW), has testified before the US Senate Banking, Housing and Urban Affairs Committee, reiterating his opposition to lifting the long-standing crude oil export ban, ...
Tags: crude oil, export ban
China's appetite for imported naphtha has grown since the start of the year on the back of strong demand from petrochemical producers, market sources and traders said this week Imports of the petrochemical feedstock over January-April ...
Tags: Imported Naphtha, Naphtha
The NDRC said the increase followed gains in international oil prices due to a tense geo-political situation in the Middle East and a weakening dollar.China has a pricing regime which adjusts domestic fuel prices when international crude ...