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By Siyi Liu, Trixie Sher Li Yap, Nicole Jao and Seher Dareen Crude supply disruption hampers Asian fuel output recovery Strained Asian output and Russian diesel export ban boost global refining margins China has most spare capacity to boost throughput Refiners in Europe and US to run flat out in third quarter SINGAPORE, July 22 …
Mideast War Escalation Threatens Recovery in Global Oil Refining Read More »
(Reuters) – Refiners and oil-producing firms in the U.S. and elsewhere are gaining market share in Venezuela’s crude as they sign direct contracts with state-run PDVSA, challenging the global traders that inked earlier deals with the government of interim President Delcy Rodriguez. Trading houses Vitol and Trafigura currently control the lion’s share of Venezuela’s oil …
Refiners Elbow Traders to Take a Larger Slice of Venezuela’s Oil Read More »
(Reuters) – U.S. refiner margins registered a fresh record high for the third consecutive session on Thursday, as low stockpiles and worsening tensions in the Middle East threaten potential supply shortfalls in the world’s largest fuel consuming nation. U.S. refiners have been the biggest beneficiaries of the Iran war as international buyers have clamored for …
US Refiner Margins Hit New Records as Fuel Shortage Concerns Grow Read More »
(Reuters) – Yemen’s Houthi leader Abdul Malik al-Houthi said on Thursday that all Saudi oil and other vital facilities would be targets for the group’s missiles and drones if Riyadh escalated its involvement in the conflict. The warning came after the Houthis fired missiles at Saudi Arabia, accusing the kingdom of bombing an airport under …
Houthi Leader Threatens Saudi Oil Facilities if Riyadh Escalates in Yemen Read More »
(Reuters) – Oil refiners around the world have seen profits surge thanks to a rare combination of robust fuel demand and weak crude prices, as markets have rapidly readjusted following the reopening of the Strait of Hormuz. The windfall is unlikely to last. The benchmark U.S. 3-2-1 crack spread, a widely watched measure of refining …
Oil Refiners’ Hormuz Windfall May Prove Short-Lived: Bousso Read More »
A power outage on Sunday forced the shutdown of Venezuela’s largest refinery, the 645,000-barrel-per-day Amuay, workers from that facility said, the second refinery without electricity following two deadly earthquakes in the country. The South American nation has been struggling to provide power to industrial plants, refineries, businesses and citizens following the quakes, which have left …
Power Outage Forces Venezuela’s Largest Refinery to Shut Down, Sources say Read More »
(Reuters) – U.S. refining capacity fell by 263,000 barrels per day (bpd), or 1.43%, in 2025, driven by the planned conversion of a major Houston refinery and a Los Angeles-area plant that shuttered citing market dynamics in California, a state known for strict environmental regulations. Marathon Petroleum, based in Findlay, Ohio, continues as the largest …
US Refining Capacity Fell by 263,000 Barrels Per Day in 2025, Says EIA Read More »
(Reuters) – The U.S. diesel futures crack spread, a measure of profitability for refiners, hit a three-week high as analysts said supply tightness for the product is set to persist even after a preliminary deal was reached to end the Iran war. The crack spread, calculated as the difference between the price of U.S. ultra-low …
US Diesel Refining Economics Remain Firm Despite Iran War Truce Read More »
By Nicole Jao and Ashitha Shivaprasad NEW YORK, June 25 (Reuters) – A fire was extinguished in a process unit pump room at Monroe Energy’s 190,000-barrel-per-day refinery in Trainer, Pennsylvania, on Thursday, the company said in a statement. The exact cause of the fire is unclear at this time, the company said, adding the incident …
Fire Extinguished at Monroe Energy’s Trainer Refinery in Pennsylvania Read More »
(Reuters) – Asia’s imports of crude oil are on track to return to pre-Iran conflict levels, but flows of refined products are still constrained and fuel prices reflect the supply stresses. The world’s top energy-consuming region is expected to import about 22.18 million barrels per day (bpd) of crude in June, up from 20.35 million …
Asia Has Plenty of Crude Oil, But Refined Fuels Remain Tight: Russell Read More »
