U.S. sanctions UAE shipping firm for violating Russian crude oil price cap
WASHINGTON (Reuters) – The U.S. Treasury on Thursday said it imposed sanctions on a United Arab Emirates-based shipping company for violating the $60-per-barrel price cap on Russian crude oil exports in its…
U.S. Treasury says oil price cap ‘institutionalizing’ Russian crude discounts
NEW YORK (Reuters) – The European Union’s agreed $60 per-barrel price cap on Russian seaborne crude oil will keep global markets well supplied while “institutionalizing” discounts created by the threat of such…
U.S. oil refiner Valero, rivals pursue Chevron for Venezuelan crude
By Marianna Parraga HOUSTON (Reuters) – U.S. oil refiners that once were regular buyers of Venezuelan crude are jockeying to win access to coming cargoes chartered by Chevron Corp under a newly…
U.S. crude inventories fall as fuel stocks build on strong refining activity
By David Gaffen (Reuters) – U.S. crude stockpiles fell while gasoline and distillate inventories both rose substantially last week as refiners ramped up production, alleviating a bit of concern about market tightness,…
U.S. crude oil stocks in SPR fall to lowest level since March 1984 – EIA
(Reuters) – U.S. crude oil stocks in the Strategic Petroleum Reserve fell by 1.6 million barrels in the latest week to 390.5 million barrels, the lowest level since March 1984, the Energy…
Chinese refiners seek less Saudi crude as demand weak
By Muyu Xu SINGAPORE (Reuters) – Several Chinese refiners have asked Saudi Aramco to reduce December-loading crude oil volumes, two sources close to the matter said, as COVID-19 restrictions and a faltering…
U.S. crude oil exports to Asia poised to hit record high
By Arathy Somasekhar and Muyu Xu HOUSTON/SINGAPORE (Reuters) – Deliveries of U.S. crude oil to Asia are set to touch a record 1.8 million barrels per day this month, Kpler shipping data…
Saudi Aramco Q3 net income jumps 39% on higher crude prices
By Hadeel Al Sayegh DUBAI (Reuters) – Saudi Arabian state oil producer Aramco on Tuesday posted a 39% jump in its third-quarter net income that beat analysts’ forecasts, boosted by higher crude…
China’s Sept crude oil imports fall, fuel exports hit 15-mth high
By Chen Aizhu SINGAPORE (Reuters) – China’s crude oil imports in September were 2% below their level a year earlier, data showed on Monday, as independent refiners curbed throughput amid thin margins…
Goldman: U.S. SPR crude releases to have modest price influence
(Reuters) – The Biden administration’s plan to continue releasing the Strategic Petroleum Reserves (SPR) “as appropriate” to bring down retail rates poses limited downside from current crude price levels, Goldman Sachs said…
Japan’s Oct-Dec crude steel output forecast to slip
By Yuka Obayashi and Kantaro Komiya TOKYO (Reuters) -Japan’s crude steel output is expected to fall for a fourth consecutive quarter in the last three months of the year, due to a…
U.S. crude stockpiles surge on reserve releases; distillates draw down – EIA
By David Gaffen (Reuters) – U.S. crude stocks rose by nearly 10 million barrels last week after another big release from government reserves, while distillate inventories fell sharply, the Energy Information Administration…
Factbox-How much crude oil does the EU still import from Russia?
(Reuters) – Russian oil imports into the European Union and United Kingdom fell 35% to 1.7 million barrels per day (bpd) in August from 2.6 million bpd in January, but the EU…
Explainer-When EU embargo comes, where will Russia sell its crude oil?
MOSCOW (Reuters) – Russia has ramped up oil shipments to Asia since Europe imposed sweeping sanctions, but still needs to re-route over a quarter of its crude exports away from Europe –…
Crude in U.S. emergency reserve falls to lowest since Nov. 1984
HOUSTON (Reuters) – Crude inventories in the U.S. Strategic Petroleum Reserve (SPR) fell 7.5 million barrels in the week to Sep. 2 to 442.5 million barrels, their lowest level since November 1984,…
Crude in U.S. emergency reserve falls to lowest since Dec. 1984
HOUSTON (Reuters) – Crude inventory in the U.S. emergency reserves fell by 3.1 million barrels in the week to Aug. 26, according to data from the Department of Energy. Stockpiles in the…
‘Major Problems Down The Road’: Biden Drains Petroleum Reserves Of Crucial Type Of Crude
‘Major Problems Down The Road’: Biden Drains Petroleum Reserves Of Crucial Type Of Crude Jack McEvoy on August 2, 2022 President Joe Biden’s Department of Energy (DOE) is emptying the Strategic Petroleum…
Explainer: Can U.S. port infrastructure handle more crude exports?
By Stephanie Kelly NEW YORK – U.S. crude shippers are exporting huge amounts of oil to meet strong demand from Europe following Russia’s invasion of Ukraine and subsequent sanctions against Moscow. In…
U.S. steps up heavy crude imports as Biden blasts profiteering
By Arathy Somasekhar HOUSTON – U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace…
Factbox-Who is buying Russian crude oil and who has stopped
(Reuters) – Here is the response by countries and companies regarding purchases of Russian oil since the war in Ukraine started on Feb. 24. Australia, Britain, Canada and the United States have…
CRUDE FLIP-FLOP: Biden’s Energy Sec Now Open To Oil Ban, But Will It Actually Lower Gas Prices?
CRUDE FLIP-FLOP: Biden’s Energy Sec Now Open To Oil Ban, But Will It Actually Lower Gas Prices? Thomas Catenacci on May 25, 2022 The Biden administration appeared to reverse its previous position…
Cargoes of Russia’s flagship crude oil at sea climb to record high
HOUSTON – Some 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics firm Vortexa showed, as traders struggled to…
Tanker arrives in Venezuelan waters to discharge Iranian crude -document, data
(Reuters) -A tanker carrying about 1 million barrels on Iranian heavy crude arrived in recent days in Venezuelan waters for delivery to the country’s largest refinery, according to a shipping report seen…
U.S. fuel prices surge faster than crude as exports tighten market
By Stephanie Kelly NEW YORK – U.S. fuel prices have surged faster than crude oil prices in the last month, as the United States has shipped more refined products abroad to supply…
Total’s German Leuna refinery to continue Russian crude imports in May – sources
(Reuters) – TotalEnergies’ 240,000 barrels per day Leuna refinery in Germany is set to continue to import Russian crude oil via the Druzhba pipeline at least throughout May, according to two sources…
Saudi Arabia may cut June crude prices to Asia from record highs
By Florence Tan and Muyu Xu SINGAPORE – Top oil exporter Saudi Arabia may cut prices for crude grades sold to Asia in June after benchmarks slumped from records in the previous…
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