Pay attention to what traders actually do, not what they say, is one of the most important principles for successful oil market analysis.Despite all the bullish commentary around oil prices in recent weeks, there was plenty of forewarning prices were primed for a setback.By the middle of April
A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons.
The Singapore fuel oil market has rallied this week as inventories have dropped at the same time that some supplies in the region do not meet the standards for use as shipping fuel, further reducing the amount of supply available, five trade sources said.Cash premiums for 380-centistoke fuel oil, which is primarily sold for ship fuel, known as bunker fuel
U.S. midstream oil firm Buckeye Partners and commodities trader Trafigura said on Thursday that modifications to their terminal in Texas to accommodate large tankers were completed and the first shipment of crude on a Suezmax tanker took place. The Buckeye Texas Hub terminal located in Corpus Christi shipping channel is 80 percent owned and operated by Buckeye while Trafigura holds a 20
Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. Vessel-tracking and port data suggest Asian imports of U.S.
Total WAF loadings for Asia hit record. Shipments of West African oil to China are set to surge to a record in January, boosting overall fixtures heading east to their highest in at least 14 years, a Reuters survey of shipping fixtures and traders showed on Wednesday. China's loadings are expected to jump by more than 20 percent from December to more than 1.
Over 500 ships waiting to load or unload coal; strong winter demand has driven coal, LNG and oil prices. Asian benchmark thermal coal prices have pushed to their highest levels since 2016, fuelled by demand in China and loading delays in Indonesia that have ramped up shipping congestion outside major coal ports.
China's LNG demand soars as tankers from the Americas divert to China. Liquefied natural gas (LNG) is being re-exported to China from Japan and tankers are being diverted from as far away as Brazil, with traders rushing to find cargoes in the face of a supply crunch in the world's No.2 economy as winter bites.
North Sea's Forties pipeline shut after cracks found; Forties crude underpins the Brent benchmark. Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday following a shutdown of the UK's biggest North Sea oil pipeline, which helps set the benchmark for global prices.
Nearly a quarter of U.S. refining capacity out; Motiva down for two weeks; Corpus Christi starts to reopen. Retail U.S. gasoline prices hit two-year highs and global shipping routes were scrambled as the nation's largest refiners remained shut on Friday, even as Harvey was losing strength. Major fuel pipelines feeding the U.S.
A hurricane in the heart of the U.S. energy industry is expected to upend years of U.S. excess oil capacity and low prices, with the impact expected to reverberate globally and affect energy markets for weeks. Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding that knocked out 11.2 percent of U.S. refining capacity, a quarter of oil production from the U.S.
At least 10 tankers booked from Mideast to Europe; freight rate for clean tankers up 11 percent from Monday. Oil traders are rushing to secure vessels to ship refined fuel from the Middle East to Europe after a Dutch refinery outage made the route profitable, pushing freight rates to multi-month highs, traders and shipbrokers said on Thursday.