Oil Markets: Recent Episodes
S&P Global Commodity Insights
The Rhine River is one of Europe's most important trade arteries, carrying diesel, gasoil, and other refined products from the Amsterdam-Rotterdam-Antwerp hub to consumers across Germany, Switzerland, and beyond. As water levels fall toward historic lows, barges are carrying reduced loads, freight costs are surging, and supply chains are coming under increasing pressure. With Rhine water levels approaching record lows, Europe's energy industry faces mounting logistical challenges that threaten to disrupt the inland movement of fuel. In this episode, Emma Kettley, price reporting associate director, EMEA crude and fuel oil, joins Middle Distillate Price Reporters David Neef and Sophia Aung to explore how declining water levels are driving up freight costs, tightening supply chains, and adding fresh pressure to an already constrained diesel market.
Diesel prices have soared, driven by supply constraints through the Strait of Hormuz and by the ongoing war between Russia and Ukraine. Ukraine has been able to knock out a sizable percentage of Russia's refining capacity, shrinking global supplies.
Where does that leave Brazil, which has been dependent on diesel imports from Russia? How do Brazil's price subsidies impact diesel supplies? What role could India play in supplying diesel fuel? What policy options, if any, does the Trump administration have to solve the supply problem? Join Jeff Mower, S&P Global Energy's director of Americas oil news, as he dissects these topics with Aaron Tucker, managing editor of Americas middle distillates, and Renato Rostas, Brazil oil price manager.
Renewed tensions surrounding the Strait of Hormuz have refocused attention on supply security, freight costs and export flows across Asian refined products markets. While demand for gasoline, gasoil, jet fuel and naphtha remained broadly resilient, market participants are once again assessing the risk of disruptions to Middle Eastern exports and their impact on regional trade flows.
In this episode of the Platts Oil Markets Podcast, Jonathan Nonis, Associate Editorial Director, is joined by the Asian oil product editorial team of Wanda Wang, Rachelle Teo and Joshua Ong to discuss how renewed geopolitical uncertainty is influencing gasoline, gasoil, jet fuel and naphtha markets in the region, the implications for supply, freight and arbitrage economics, and how buyers and sellers are adapting to a more volatile trading environment.
The announcement of a Russian ban on diesel exports following supply shortages at gas stations across the country has spurred cracks to widen significantly in the European market at a time when product markets continue to face uncertainty over the recovery of supply from the Persian Gulf and crude markets face pressure from low Chinese demand.
In this episode, Gary Clark, associate director, price reporting, Elza Turner, global lead specialist, price reporting, Virginie Malicier, price reporting manager, and senior price reporter Patrick McAllister peel back the key developments behind the recent pricing movements, providing an update on the situation within Russia, the European middle distillate space and the European crude complex.
Aside from a handful of high-profile deals, merger and acquisition activity in the US oil and gas sector has been tepid in recent months even as war in the Middle East pushed oil prices to multi-year highs.
In this episode, S&P Global Energy's Christopher van Moessner, editor, oil futures, is joined by Americas news editor Ashok Dutta and senior reporter Eamonn Brennan to discuss the outlook for M&A activity in the sector and how it has been impacted by a White House that from the start has positioned itself as pro-oil. They dig into how the administration's deregulation efforts have so far failed to manifest in a wave of oil and gas dealmaking that has been seen in other industries, and how capex discipline and general price uncertainty have presented headwinds to M&A activity in the sector.
The effective closure of the Strait of Hormuz following escalating tensions in the Middle East sent European fuel oil imports from the Gulf plummeting 95% in the first half of 2026. Supply chains faced unprecedented disruption while risk premiums skyrocketed across the bunker market.
In this episode, S&P Global Energy's Emma Kettley, associate director, price reporting, is joined by reporters Joseph Jaffe, Iman Rezig and Awa Bobb in examining how different fuel oil grades responded to the crisis, from high sulfur fuel oil cracks surging into positive territory to bunker-barge spreads widening over 200% from pre-war levels. They dissect how the June peace agreement between the US and Iran has reshaped fuel oil fundamentals, why VLSFO markets proved more resilient than HSFO during the crisis, and what the current contango structure signals for European fuel oil supply as summer demand patterns emerge.
Asia's energy security has always rested on a difficult bargain -- deep reliance on Middle Eastern crude in exchange for scale, proximity and established commercial relationships. The recent conflict tested that bargain in real time, forcing refiners, traders and governments to reroute supply, reassess risk and confront the true cost of dependence. As risk premiums fade and markets move from crisis response to post-war recalibration, the bigger question is no longer just where the next cargo comes from -- it is whether Asia can build a more resilient energy supply system. In this episode of Platts Oil Markets podcast by S&P Global Energy, Asia Energy Editor Sambit Mohanty discusses with Calvin Lee, head of Asia content at Platts, and Nick Sharma, head of global upstream insights at CERA, how the supply shock is reshaping Asia's crude sourcing and refining economics, as well as building a case for more investment in domestic oil and gas production.
As summer travel is getting into its stride, European supply chains for diesel and gasoline are geared to meet the seasonal uptick in road fuel demand. However, with production operating near capacity, demand may outpace available supply, possibly altering consumption patterns and prompting end-users to switch to alternative modes of transport.
In this episode, Gary Clark, Friedrich Gutsche, Sophia Aung, and Elza Turner uncover how recent price developments in European road fuel markets amid easing supply tightness have been providing relief for end-consumers. Tune in to find out how the World Cup, government policy, and the Middle Eastern conflict are shaping local fuel prices.
With Strait of Hormuz constraints reshaping global supply routes, Latin America is stepping into the spotlight. In this episode, Jeff Mower, Kate Winston, Sheky Espejo and Charles Newbery unpack how producers across the region are positioned for upstream expansion. What are producers learning from Argentina's drive to boost Vaca Muerta oil output and exports? What does Colombia's upcoming election mean for oil growth? What will it take for investors to spend in Venezuela? Let's dive into what could drive the next wave of growth.
The global crude oil market continues to see disrupted exports from the Middle East. Yet, with soft Asian demand and the release of strategic reserves around the world, Europe now finds itself struggling to place excess crude oil barrels ahead of peak summer demand.
To examine the latest development in European crude oil balances, S&P Global Energy's Gary Clark, associate director, is joined by frontline price reporters Ernest Puey and Patrick McAllister to unpack supply drivers that have led to the current supply glut.
The disruption to flows through the Strait of Hormuz is rapidly reshaping the Asian jet fuel market at a critical juncture, just as seasonal demand accelerates ahead of the peak summer travel period. As one of the world's most important energy chokepoints, the Strait has long facilitated the movement of significant volumes of Middle Eastern jet fuel. The loss of these flows is now forcing market participants to reassess supply security, trade routes, and pricing dynamics across the region.
In this episode of the Platts Oil Markets Podcast, Jonathan Nonis, associate editorial director, is joined by members of the global editorial team — Lee Shu Ling and Aruni Sunil — to examine how the disruption is translating into the physical market. They explore the extent to which supply dislocations are tightening regional balances, the adjustments in trade flows and inventory strategies, and the emergence of demand destruction. They also look at how key benchmarks — including FOB Arab Gulf and FOB Singapore jet fuel, as well as the East-West arbitrage — are responding to tighter supply conditions.
European and Asian LPG fundamentals have sharply diverged following the disruption to flows through the Strait of Hormuz in late February and early March. The supply shock sent Asian propane prices sharply higher, tightened availability, and disrupted petrochemical demand. Meanwhile, the European market, especially the Amsterdam-Rotterdam-Antwerp hub, has remained comparatively well supplied and under pressure.
To examine the latest trends in this segment, S&P Global Energy's Gary Clark, the associate director of the EMEA clean refined price reporting team, is joined by Senior Price Reporter Barbara Fernandez-Pita to help explain how record US exports, surging freight costs, a closed arbitrage window, and the end of the winter heating season have helped insulate European propane from the worst of the global squeeze.
US crude exports have hit record high in April as buyers looked far afield to replace barrels that have been blocked by the Middle East war and the effective closure of the Strait of Hormuz. The surge in demand has been a boon for US suppliers, and there has been a scramble to overcome infrastructure constraints in order to push exports even higher. With Persian Gulf supply unlikely to return at pre-war levels anytime soon, are markets seeing a temporary dislocation or a more durable shift in global crude flows?
In this episode of Platts Oil Markets Podcast by S&P Global Energy, Oil Futures editor Chris van Moessner is joined by Americas oil news editors Binish Azhar and Ashok Dutta, and crude oil price reporter Lucas Casas to discuss what is driving these record exports, their near-term outlook, and how the US midstream and upstream business segments are reacting to this new paradigm.
India's crude imports are climbing, not just in volume, but in complexity. As the country widens its pool of suppliers, it is also exposing itself to a more fragmented pricing landscape. But here is the challenge -- in a world where geopolitical conflicts and supply shocks can send prices soaring overnight, how do you protect the energy sector and the economy from extreme volatility?
In this bonus episode of Platts Oil Markets Podcast by S&P Global Energy, Asia Energy Editor Sambit Mohanty is joined by Gouri Shankar, vice president for product strategy at the National Stock Exchange, Pulkit Agarwal, head of India Content, and John Morley, global head of crude oil pricing, to discuss the need for sophisticated benchmarks in managing risk, and what the latest NSE crude oil contract based on a physical price benchmark -- Platts Dated Brent -- can offer to Indian market participants.
With more than two months having passed since the beginning of the war in the Middle East, a conflict that has tightened refined oil product flows through the Strait of Hormuz, market participants have been grappling with major upheaval in middle distillate trade routes as Europe seeks to replace lost Middle East supply.
To examine the latest trends in this vital segment, S&P Global Energy's Emma Kettley, associate director, price reporting, is joined by reporters David Neef and Patrick McAllister to unpack how Europe has adapted to the disruptions to its key supply source in the Persian Gulf.
In this episode of the Oil Markets Podcast from S&P Global Energy, host Jeff Mower dives into first-quarter earnings from major oil and gas service companies, including SLB, Baker Hughes, and Halliburton. Joined by S&P Global editors Binish Azhar, Sheky Espejo, and J. Robinson, the panel explores the sector's strategic pivot toward energy infrastructure and generation amid geopolitical uncertainties.
Why are US shale producers still focused on completions despite high oil prices? How are surging diesel prices and record-low natural gas prices at the Waha hub driving the industry shift from diesel-powered frack spreads to natural gas and electric fleets? How is next-generation fracking technology being deployed in Argentina's Vaca Muerta? Are Pemex payments stabilizing in Mexico? Is there reason for cautious optimism surrounding Venezuela's future production goals? Join us for a wide-ranging conversation on these topics and more.
The conflict in the Middle East has sent ripples across the global energy landscape, with the spotlight on the Strait of Hormuz -- the critical artery for Asia-Pacific's energy imports. Amid trade flow disruptions, the path to recovery, the resilience of physical oil markets, and the broader economic consequences are under intense scrutiny. While the return to normalcy, the evolving dynamics of oil storage, the transmission of supply shocks to Asian economies, and the policy responses shaping the region's future energy strategy are some of the key themes that are dominating the discussions, the market is also looking for answers on transparency in pricing, benchmark adjustments, and market adaptation during turbulent times. In this episode of Platts Oil Markets Podcast by S&P Global Energy, Asia Energy Editor Sambit Mohanty discusses some of the key themes with Atul Arya, chief energy strategist; Daniel Colover, global head of oil and chemicals market engagement; and Vishrut Rana, Asia-Pacific senior economist at S&P Global Ratings.
Dated Brent's record high assessment by Platts of $144.42/barrel stole the headlines on April 7, but physical market fundamentals in the Atlantic basin have similarly brought cash differentials for individual crude oil grades across the North Sea, West Africa and the Mediterranean upwards to levels that, in some cases, have never been seen before.
In this episode, Associate Director Emma Kettley is joined by frontline reporters Ernest Puey and George Delaney to explore the impact the war in the Middle East is having on the physical crude oil markets in the European and African region.
As traffic inches back through the Strait of Hormuz, oil and product flows remain constrained, sending buyers scrambling to replace Middle East barrels and lock in reliable diesel supply. With nearly 6 million b/d of Middle East refining capacity at stake, and roughly 4 million b/d of refined products flows, diesel prices have soared, opening export opportunities. Where are buyers turning for diesel, and what policy tools are governments using to soften price shocks? Jeff Mower, Americas Oil News Director, unpacks these issues with Brazil Refined Products Manager Renato Rostas, Americas Middle Distillates Managing Editor Aaron Tucker, and Mexico Energy Editor Sheky Espejo.
As the conflict in the Middle East has raised the specter of global fuel shortages, Nigeria's new Dangote refinery has attracted growing attention as an alternative supplier. After starting up in 2024, the refinery reached its initial 650,000 b/d capacity for the first time earlier in 2026 and has seen a growing demand for its products from markets further afield.
In this podcast, Gary Clark, associate director, EMEA clean refined products at S&P Global Energy, is joined by Matthew Tracey-Cook, senior price reporter on West African refined products, and Kelly Norways, a journalist on the oil news team, to discuss the capacity of Africa's first megarefinery, regional supply risks, and where its product could end up.
From CERAWEEK 2026 in Houston, host Jeff Mower, Director of Americas Oil News, is joined by Senior Upstream Editor Ashok Dutta, oil news editor Binish Azhar, and oil policy reporter Eamonn Brennan to break down the conference's energy security focus. With the Strait of Hormuz largely closed and the Trump administration negotiating with Tehran while signaling it wants to cap oil price spikes, policymakers and executives clash over how fast supply can respond. The crew explores non-Middle East supply opportunities, including rising US Gulf Coast crude fixtures, constrained by pipeline and completion capacity, and a new wave of Canadian barrels pushing toward Asia via the Pacific. A high-stakes reform pitch for Venezuela meets some skepticism.
Tensions between US-Israel and Iran are disrupting flows in the Strait of Hormuz, forcing Asia's LPG market to manage surging prices and shifting optimization to urgent supply management. With Middle East shipments threatened, especially for India and China facing low inventories and weak PDH margins, buyers are scrambling for alternative supplies and shipping.
The Platts Oil Markets Podcast covers the immediate impacts: stalled vessels, rising freight rates, record high premiums, and a rapid move toward US LPG diversification, despite export terminal disruptions. The episode also looks ahead at inventory strategies, diversification of supply sources, and whether this crisis will permanently reshape the global LPG trade.
Regina Sher, manager of the Asia oil products pricing team, and Norazlina Jumaat and Jeff Ong, reporters for Asia oil products, discuss the impact of this supply disruption on the LPG market.
Benchmark jet fuel assessments by Platts have reached all-time highs on the back of war in the Middle East. With vital middle distillate supplies locked in the Persian Gulf owing to the effective closure of the Strait of Hormuz, the knock-on impact for both physical and financial refined products markets in Europe has been unprecedented. In this episode of the Platts Oil Markets podcast, Gary Clark, Associate Director for EMEA Clean Refined Products, is joined by frontline reporters Aruni Sunil and Patrick McAllister to discuss the latest dynamics in the European jet fuel market.
After US and Israeli strikes on Iran and the closure of the Strait of Hormuz, oil markets have been on a rollercoaster. While crude has rallied above $100/b, refined fuels have surged even more sharply.
In this episode of the Oil Markets Podcast, host Jeff Mower, Director of Americas Oil News, is joined by Senior Refining Editor Janet McGurty and Senior Refined Products Price Reporters Ben Peyton and Laura Huchzermeyer to break down what's driving the spike in diesel, jet fuel, and gasoline prices.
Is California heading toward a fuel shortage as refinery closures and global disruptions collide? How vulnerable is the West Coast fuel market, and why is it often described as an "energy island"? Could high diesel, jet, and gasoline prices start hitting the broader economy?
US and Israeli strikes on Iran since Feb. 28 have led to a major regional conflict, which has rocked geopolitics and resonated across the global oil supply chain. Vessel transits across the vital Strait of Hormuz have been stunted, while physical and financial oil markets have seen a major uptick in volatility. In this episode of the Platts Oil Markets podcast, Herman Wang is joined by Lauren Holtmeier, Ada Taib, and Gary Clark to discuss the latest developments on the ground from the Middle East, in addition to the wider knock-on impacts for crude oil markets in Asia and refined products dynamics in Europe.
Related content:
FACTBOX: Oil prices surge as energy facilities hit in Middle East war
Hormuz oil traffic still at standstill despite US insurance pledge (Subscriber content) Oil derivatives price action climbs amid ongoing Middle East conflict (Subscriber content) US Navy to begin escorting oil tankers through Strait of Hormuz: Trump (Subscriber content)
PCAAS00 – Dated Brent (Subscriber content)
PCAAT00 – Dubai Mo01 (Subscriber content)
PJAAU00 - Jet CIF NWE Cargo (Subscriber content)
AAEBS00 - Brent-Dubai at London MOC EFS Mo01 (Subscriber content)
DEFSM02 - Brent Dubai at Singapore MOC Mo01 (Subscriber content)
AAVBG00 - ULSD 10ppmS CIF NWE Cargo (Subscriber content)
The outlook for Russian and Venezuelan crude flows, as well as geopolitical developments in Iran, are keeping Asian refiners on edge. Indian refineries have valued heavy Venezuelan crudes in their mix in the past, but will be looking out for signals of stable oil flows from the country. Meanwhile, the country's imports of Russian crude have decreased as sanctions have intensified.
In this episode of Platts Oil Markets Podcast, Sambit Mohanty, Asia Energy Editor, Benjamin Tang, head of liquid bulk at S&P Global Commodities at Sea, and Pulkit Agarwal, Head of Content for India, discuss these market developments and more.
Geopolitics and its impact on pricing and trade flows were the talk of the town as oil market participants convened in the cobbled streets of London across Feb. 9-13 for International Energy Week, one of the most important events in the industry's calendar.
Following a blockbuster 2026 edition, S&P Global Energy's John Morley, global director of crude and fuel oil markets, sits down with Associate Directors Emma Kettley and Gary Clark to discuss the key takeaways from the week covering the full breadth of the oil complex with crude, fuel oil and refined product dynamics in view.
In this episode of the Oil Markets Podcast by S&P Global Energy, host Jeff Mower, Director of Americas Oil News, is joined by Senior Refining Editor Janet McGurty and Senior Upstream Editor Ashok Dutta to break down the biggest takeaways from fourth-quarter oil earnings so far.
How are Gulf Coast refiners positioning for a potential return of Venezuelan heavy crude — and what does it mean for heavy crude differentials? On the upstream side, are shale producers truly delivering "more with less" in the Permian through new technologies and lower costs? What's driving the next wave of M&A? From capital discipline to geopolitical risk, this episode explores whether 2026 is shaping up to be a year of measured growth — or strategic transformation — across upstream and refining.
Europe's dependence on imported middle distillates is in sharper focus after the EU's 18th sanctions package halted imports of refined products processed from Russian crude from Jan. 21. Europe is leaning more heavily on replacement supply from the Middle East and the US—driving fresh volatility in diesel and jet fuel differentials even as underlying fundamentals remain mixed.
Join Gary Clark, Aruni Sunil, Jan Kedzior, and Rebeka Foley as they unpack how trade flows are being reshuffled, why jet cracks have outperformed diesel, and how geopolitical risk and low buffer stocks are amplifying price swings across Europe's refined product markets.
Tighter European sanctions targeting refined products made from Russian crude are accelerating shifts in global middle distillate trade flows, with Asia increasingly at the center of the impact. By closing loopholes that previously allowed barrels processed outside Russia to re‑enter Europe, the latest measures are forcing market participants to reassess compliance risk, arbitrage economics, and regional supply balances.
In this episode, Jonathan Nonis, associate editorial director at Platts, part of S&P Global Energy, is joined by Mei Huey and Rachelle Teo from Platts' Asian editorial team, to examine how the new sanctions are disrupting established trade patterns. They discuss whether barrels could be displaced back into Asia, how Europe may compete for non-Russian origin supply, and what this means for benchmarks such as FOB Arab Gulf and FOB Singapore gasoil and jet fuel, as markets adjust to a more complex and volatile trading environment.
Dated Brent differential soars to three-year high amid a supply crunch driven by disrupted flows of Kazakhstan's CPC Blend crude. However, market participants caution that a potentially swift return of CPC Blend outflows could swell European supplies, dragging on the Dated Brent complex.
Join Gary Clark, Associate Director of Price Reporting, EMEA Clean Refined Products, as he discusses this and more with Ernest Puey, Senior Price Reporter, Crude Oil, and senior writer Thomas Washington.
A sudden shift in US policy has put Venezuela back at the center of global oil markets. US and international oil executives are striking different tones on Venezuela after President Donald Trump said the White House will decide which companies are allowed back into the country's oil sector following the US seizure of Venezuelan President Nicolas Maduro on Jan. 3. Heavy oil price discounts are already reacting to expectations of increased Venezuelan supply. Can Venezuela meaningfully boost production after years of underinvestment? Who benefits from cheaper heavy crude? Join Jeff Mower, Director of Americas Oil News, as he discusses these issues and more with S&P Global Energy oil policy reporters Kate Winston and Eamonn Brennan, and Patrick Harrington, Americas oil markets manager.
Sweeping changes to crude and product flows following sanctions and tariffs, shipping disruptions and questions surrounding China's demand outlook—oil markets have seen it all in 2025. The year was also a mixed bag for oil investments across the globe amid accelerated push towards clean energy and rising EV usage, while some regions also unveiled concrete plans on refinery expansions.
In this special episode of Platts Oil Markets Podcast, Sambit Mohanty, Asia energy editor, John Morley, global director for crude oil, Francesco Di Salvo, global director for refined products, and Jeff Mower, head of Americas oil news, look back at the key drivers for oil markets in 2025 and the themes that are likely to spill over and remain in the spotlight in 2026.
In the winter months, demand for gasoline in Europe softens, and stocks in the Amsterdam-Rotterdam-Antwerp hub begin to thicken. But recent developments in West African government policy and intermittent maintenance at Nigeria's Dangote refinery have resulted in an unconventionally robust gasoline market, shadowed by an existing tightness in supply. Where have the gasoline markets diverged, and what unusual patterns have we seen in blending economics?
In this episode, host Gary Clark is joined by S&P Global Energy reporters Geraint Moody and Matthew Tracey-Cook to discuss these topics.
The adoption of AI among energy and shipping companies is growing steadily. While it's helping to cut operational costs, boost productivity, and reduce emissions, a shortage of skills, data integration complexity, and trust are posing some challenges. In exploration, AI is helping to analyze complex sub-surface data and improve success rates. In midstream logistics, it is helping to optimize complex route planning and lastly; by deploying AI across refinery operations, oil companies are achieving higher yields in high-value fuels while cutting energy use.
In this episode, Asia Energy Editor Sambit Mohanty discusses with Dave Ernsberger, president of S&P Global Energy, and Arun Biswas, strategic engagements leader at IBM Consulting for Asia-Pacific, some of the themes around AI's ability to influence how energy is produced, traded, and distributed in the years ahead.
Physical differentials in the North Sea crude market and wider Atlantic basin have reached multiyear lows amid high freight rates and market length in the region. While high freight rates are often expected in the last quarter of the year, oversupply and market structure have also come into play.
In this podcast, Emma Kettley, S&P Global Energy's associate director, price reporting, is joined by senior crude oil reporters Natasha Tan and George Delaney to dig into how these fundamentals are impacting the North Sea and West African crude markets.
Global tanker markets are riding high as shipowners post strong third-quarter earnings amid bullish forecasts. What's driving the surge in day rates? Why are newbuilds still lagging even as fleet capacity tightens? How have sanctions reshaped both dirty and clean tanker markets? And could US shipyards stage a comeback in the global shipbuilding race?
Join host Jeff Mower as he discusses these and other related issues with Catherine Kellogg and Binish Azhar.
Europe's 19th sanctions package has promised to shut the door on the last remaining flows of Russian energy still trading into the region, including butane and isobutane that was previously exempted from import bans. From Jan 2026, the new LPG embargo will force lead buyer Poland to find alternatives to Russian supplies, adding support to an already tight European market.
Associate Director, Pricing, for EMEA Clean Refined Products Gary Clark joins LPG Pricing Specialist Barbara Fernandez-Pita and London Oil News Reporter Kelly Norways to discuss Polish preparations for the move, alternative supply routes and potential LPG outlets for an increasingly distressed Russian energy sector.
The US has ramped up its naval presence in the Caribbean, following several strikes against suspected drug smuggling vessels off the coast of major oil producer Venezuela. Yet oil prices have barely budged as Latin American production continues to ramp up. What is the role of Guyana and Argentina's emerging crudes, and how do flows to destinations like India fit into Trump's strategy? How are Permian operators responding to sustained low prices?
Jeff Mower unpacks how low oil prices play into the Trump administration's military push in the Caribbean, along with Latin America oil markets reporter Jada Johnson and senior news reporters Ashok Dutta and Eamonn Brennan.
Links:
Vasconia FOB Colombia PCAGI00 Castilla Blend FOB Colombia AAVEQ00 Golden Arrowhead FOB Guyana GOLAH00 Liza FOB Guyana ALIZA00
In this Oil Markets podcast, we discuss the outlook for diesel and jet fuel/kerosene demand in Asia in the fourth quarter of 2025. This period is always critical, but as we approach the end of the year, a complex interplay of seasonal patterns, supply constraints, geopolitical developments, and economic factors is shaping the landscape.
S&P Global Commodity Insights' market reporters, Ng Mei Huey and Pek Michele join Jonathan Nonis, associate director for clean refined products in APAC to discuss these factors and their impact in this podcast.
Following the resumption of Kirkuk crude exports on September 27, 2025, the oil markets are poised for significant shifts. This development marks a crucial turning point for the Mediterranean oil landscape, as the Iraqi grade reenters the market amid ongoing geopolitical dynamics and supply chain adjustments.
In this episode, John Morley is joined by crude oil reporters Luke Stuart and Ernest Puey to explore the potential implications of this reintroduction. They will discuss how the return of Kirkuk crude could affect pricing, regional supply dynamics, and the broader impact on Mediterranean trade flows.
Links:
Bearish sentiment grows across Med sweet crude complex in oversupplied market (subscriber content) Iraqi Kirkuk's return to Europe could further pressure sour differentials (subscriber content) Kirkuk FOB Ceyhan AAEJD00 CPC Blend CIF vs CPC Dated Brent Strip AAHPL00
A jump in US crude exports has helped to boost prices for high sulfur fuel oil, supplies of which are currently tight. What is driving demand for US crude to South Korea and India? What is the connection between low US imports of heavy crudes and HSFO supply tightness? What is the short-term outlook for HSFO? And why is the Trump administration pushing back on international net-zero shipping fuels standards?
Jeff Mower, director of Americas oil news, digs into these questions and more with oil news editor Binish Azhar and oil price editor Iman Koutani.
Links:
Interactive: Global bunker fuel cost calculator Platts WTI MEH AAYRG00 USGC HSFO Waterborne PUAFZ00 USGC VLSFO Barge $/mt AUGMB00
With European imports of products refined from Russian crude oil set to be banned in the beginning of 2026, the spotlight is on exporters such as India and Turkey, and how flows of diesel and jet fuel in the EMEA region are anticipated to change in the coming months.
Gary Clark is joined by middle-distillate reporters Nadia Bliznikova and Aruni Sunil to delve into the shifting trade patterns of oil products and the latest market reaction to the soon-to-be imposed EU sanctions.
Related stories (Subscriber content):
European jet fuel regrade recovers with low refinery output, dipping imports
ARA jet, kerosene stocks rise to 4-year high: Insights Global
Global air passenger demand rises 4.6% on year in Aug: IATA
AAVBG00
AAWYZ00
PJAAU00
PJABA00
In the wake of APPEC 2025, China's evolving oil demand and the impact on global shipping markets are in the spotlight. With China’s oil consumption slowing and India’s robust demand outlook, the intricate balance of these factors has major implications for global energy supply chains.
Asia energy editor Sambit Mohanty sits down with head of China content Alice Niu and head of Asia shipping and freight pricing Pradeep Rajan. The team discusses how geopolitical tensions and strategic stockpiling are reshaping trade dynamics in Asia.
Dangote’s RFCC outage has added additional length to the global fuel oil market, with Singapore blending significant volumes of feedstocks into their very low sulfur fuel oil bunkering pool.
Host Gary Clark is joined by Charlie Wright, Joseph Jaffe and Kelly Norways to explore the impact of the outage on the fuel oil market in the EMEA and Asia regions.
As the US transitions to higher-volatility gasoline grades, refiners are adjusting their strategies to balance supply and demand amid seasonal maintenance and export pressures, which also have implications for butane demand. In this episode, the team unpacks the mechanics of the RVP transition, the impact of refinery issues in Mexico, and the growing demand for LPG in Southeast Asia.
Jeff Mower, director of Americas oil news, discusses these seasonal shifts with light ends pricing manager Sarah Hernandez, LPG price reporter Hunter Marrow, and senior oil news reporter Janet McGurty.
Links: US gasoline RVP calendar Gasoline Unleaded 87 USGC Prompt Pipeline AANY105 Butane FOB ARA PMAAC00 ULSD USGC Prompt Pipeline AATGY00
During the summer season, warmer temperatures and muted levels of demand should traditionally bring length to the LPG markets. This certainly appears to have materialized in the propane markets, but a tightness in the butane market seems to be painting a different picture. How has supply been affected over the summer months, and what can we expect from the LPG market in the short-term with re-emerging trends such as winter gasoline blending?
Join host Gary Clark in a conversation with frontline reporters Geraint Moody and Matthew Tracey-Cook.
APPEC to look at Asia's changing energy narrative amid tariffs and transition
Navigating trade, technology and transition—that's the theme of this year's Asia Pacific Petroleum Conference, or APPEC 2025, by S&P Global Commodity Insights. It is scheduled to take place during September 8-11 in Singapore, where CEOs, government officials and market experts will share their insights on geopolitical influences on energy markets, technological innovation, and disruptions, redefined decarbonization strategies and price outlooks. Delegates will also seek answers on how Asia is navigating a multi-faceted energy future to ensure energy security at a time when many countries are faced with high trade tariffs and sanctions on energy producers are either limiting or diverting energy flows.
In this episode of Platts Oil Markets Podcast ahead of APPEC, Asia energy editor Sambit Mohanty discusses with Vera Blei, head of Market Reporting and Trading Solutions, Calvin Lee, head of Asia Content, and Pulkit Agarwal, head of India Content, some of the key themes that will dominate discussions at APPEC. Related links:
APPEC 2025 - Register your interest
The world's attention has turned the US in recent days after back-to-back peace summits separately involving Russia's and Ukraine's presidents. But in the absence of a ceasefire deal, drone attacks have taken on a new intensity, continuing to claim civilian lives and knocking out critical infrastructure. In the past week alone, Russia has sustained damage to at least five major oil refineries, as well as its main crude pipeline link into Central Europe. Meanwhile, its own attacks risk straining fragile ties with neighbors like Azerbaijan.
Join London oil news reporters Kelly Norways and Nick Coleman to unpack the impact of a new destructive chapter in the region's drone warfare, with insights from Platts refining expert Elza Turner.
Links:Russia restores oil flows to Hungary and Slovakia after Druzhba pipeline damage Russia strikes Ukraine's damaged oil refinery again in major drone strike (subscriber content) Ukraine hits fifth Russian refinery in week ahead of Trump-Putin talks (subscriber content) Russia targets Ukrainian gas grid facility in latest drone attacks: ministry (subscriber content)
US diesel prices have rallied this summer as strong export demand has helped to tighten inventories, while jet fuel prices have remained stable. With diesel stocks remaining tight, export demand, refinery maintenance and hurricane season present upside risks to prices. In contrast, jet fuel is well supplied, keeping a lid on prices. The outlook for both diesel and jet fuel has been complicated by US trade negotiations, with tariffs putting demand into question. What do recent travel warnings mean for jet demand? Why is the Caribbean pulling more US diesel? How will refinery closures on the US West Coast change jet flows? And what are the implications of the One Big Beautiful Bill on diesel and jet?
Tune in as Jeff Mower, director of Americas oil news, digs into these and other questions with senior distillates reporters Aaron Tucker and Benjamin Peyton.
Links:
Jet Fuel USGC Prompt Pipeline Differential to NYMEX ULSD (NextGen MOC) ADIAS00
Jet Kero Los Angeles CA Pipeline vs NYMEX NY ULSD Mo01 AANVY00
Renewable Volume Obligation Current Year RVOR002
ULSD USGC Prompt Pipeline AATGY00
ULSD New York Harbor Barge AATGX00
ULSD No2 CARB Diesel Los Angeles CA Pipeline POAAK00
An outbreak of crude contamination impacting Azerbaijan’s Azeri Light supply has set Europe’s refiners on edge. As buyers seek to avoid being hit with corrosive organic chlorides, prices for the premium crude grade have tumbled, and some refiners have been forced to draw on emergency oil reserves.
Kelly Norways, a downstream oil news reporter, is joined by senior news team editor Nick Coleman, Sam Angell, manager of Platts EMEA crude oil pricing and light ends reporter Dias Kazym to discuss the impact for crude and products in the impacted regions.
Heavy crude supplies to the US Gulf Coast have tightened. Waterborne imports have dropped sharply, driven largely by declines from Mexico and Venezuela. Canadian wildfires have further limited access to heavy barrels, and refiners like Valero are starting to feel the squeeze. Why are Mexican and Venezuelan crude imports collapsing, and can they recover? Why aren’t USGC refiners just turning to Canada via pipeline to replace lost barrels? What Canadian pipeline expansion plans are in the works to bring more crude to the USGC or overseas markets?
Jeff Mower, director of Americas oil news, speaks with senior oil news editor Ashok Dutta and Canadian oil market reporter Alex Saucer to break down what’s driving the tightness and where new supply might come from.
Links: Pacific Cold Lake vs ICE Brent ATMXC00 Pacific Dilbit vs ICE Brent ATMXG00 Western Canadian Select at Hardisty vs WTI CMA AAPPP00 Western Canadian Select at Cushing vs WTI CMA AAWTZ00
Oil is going through a period of uneasy calm. The higher-than-expected rise in OPEC+ production quotas for August, combined with a ceasefire between Israel and Iran, has provided oil markets some breathing space and introduced a bearish sentiment to prices, but new EU sanctions on Russia and the possibility of additional secondary sanctions by Washington could alter the price and trade flow scenarios.
In this episode of Platts Oil Markets Podcast, Asia Energy Editor Sambit Mohanty discusses with Rahul Kapoor, vice president and head of oil shipping analytics at S&P Global Commodity Insights, and Dan Colover, head of oil and chemicals market engagement, on the implications of some of these developments on Asia.
With the UK at risk of losing its second oil refinery in less than six months, Europe's refining sector is showing growing signs of strain. In this episode of the Platts Oil Markets podcast, Gary Clark is joined by reporters Elza Turner and Kelly Norways to unpack why healthy margins are failing to prevent closures in a year that has already seen the most shutdowns since the coronavirus pandemic.
Links:
UK faces surge in imports amid new refinery closure risk (Subscriber content)
UK's Lindsey refinery resumes fuel deliveries as government battles local shortages (Subscriber content)
AAVBG00 - ULSD 10ppmS CIF NWE Cargo
PJAAU00 - Jet CIF NWE Cargo
In this episode, the Americas NGLs pricing team discusses Gulf Coast and Canada NGL market dynamics. Light ends manager Sarah Hernandez and LPG reporters Hunter Marrow and Marcus Still review conditions from 2024 that led to record-high export premiums and compare those conditions with the current market context. They also analyze changes in export flows amid geopolitical tensions and discuss possible summer challenges for the supply-demand balance of Gulf Coast and Canadian LPG.
Links:Propane FOB USGC AAXIN00Propane Enterprise Mt Belvieu Mo01 PMAAY00Isobutane Enterprise Mt Belvieu PMAAB00 Isobutane Sarnia Mo01 AEDMF00
With European middle-distillate markets remaining well-supplied amid turbulence in the Middle East, the prospect of new legislation regarding the origin of European product imports provides fuel for thought for market participants. To discuss the latest developments in the middle-distillate markets, Gary Clark is joined by Virginie Malicier and Nadia Bliznikova with a sharp focus on diesel and jet fuel dynamics in the EMEA region.
https://plattsconnect.spglobal.com/#platts/insightsArticle?articleID=5a322417-d739-41cc-b246-3bc5aebeb28a&insightsType=Top%20News
https://plattsconnect.spglobal.com/#platts/insightsArticle?articleID=fb3a0446-6929-4832-a1c9-5329b050815c&insightsType=Top%20News
Jet CIF NWE Cargo PJAAU00
ULSD 10ppmS FOB ARA Barge AAJUS00
ULSD 10ppmS CIF NWE Cargo AAVBG00
ULSD 10ppmS CIF Med Cargo AAWYZ00
Oil prices rallied following Israeli attacks on Iranian nuclear and military targets, but just as quickly reversed after the US bombed three of Iran's nuclear enrichment facilities. War premiums were mostly erased after US President Donald Trump said Israel and Iran agreed to a ceasefire.
Jeff Mower, director of Americas oil news, speaks about the price swings, US crude production growth, global shipping rates, and nuclear deal hopes with oil futures editor Chris van Moessner, policy editor Kate Winston and head of Americas freight markets Kristen Hays.
Links: US strikes may have dimmed the chance for an Iran nuclear deal, oil sanctions relief: experts (subscriber content)
A sudden ramp-up in tensions as Israel and Iran exchange blows has proved impactful for oil markets in the EMEA region. In this episode of the Platts Oil Markets podcast, Gary Clark is joined by front-line reporters Joey Daly, Jan Kedzior and Dias Kazym to discuss how the volatility in the Middle East is shaping the European markets in crude oil, middle-distillates and light ends.
Energy Asia will be held from June 16-18, 2025, in Kuala Lumpur, Malaysia. The role of national oil companies in securing a net-zero future, the challenges in navigating energy security, the scope for fossil fuels growth, as well as the pressure Asian companies are facing to pursue sustainable growth will be some of the key themes that will be in focus.
In this episode of Platts Oil Markets Podcast, Asia Energy Editor Sambit Mohanty discusses with Vartika Shukla, chairman and managing director at Engineers India Ltd, Atul Arya, chief energy strategist at S&P Global Commodity Insights, and Nick Sharma, executive director for upstream solutions, the challenges and opportunities ahead as new governments and policymakers bring about sweeping changes to energy, climate and trade policies at a time when geopolitical competition is creating a more difficult global environment and complicating energy markets.
The Memorial Day weekend in the US is often considered the kickoff to the summer driving season, a period of heightened gasoline demand where families take vacations and refiners profit on healthier margins. But how is the European supply and demand balance coping with changes in the global refining picture, as some European refineries shut down while production ramps up in Africa and further afield?
Senior crude specialist Joey Daly speaks with European gasoline and WAF products specialist Matthew Tracey-Cook to discuss the current market dynamics in the Atlantic Basin and how they are affecting the European gasoline market.
The Refining Scenario Manager (RSM) allows for scenario modeling of any refinery globally, to optimize trading and operational decision-making.
Links: Platts Premium 10ppm FOB Rotterdam barges PGABM00 Platts Premium 10ppm FOB Mediterranean cargoes AAWZA00Platts Gasoline STS Lome ABNWG00 Gasoline exports to West Africa fall to 2-month low amid well supplied market (subscriber content)
Mexico is facing regional gasoline shortages as its refining system struggles to meet demand, deepening reliance on U.S. imports. With the Dos Bocas refinery not expected to reach full capacity until 2026, questions loom over the role of private importers in supplying the country with gasoline. In this episode of the Oil Markets podcast by S&P Global Commodity Insights, host Jeff Mower is joined by Sarah Hernandez and Sheky Espejo to break down the numbers, the policy shifts, and what’s next for Mexico’s fuel supply.
The proposed 2025 Section 301 actions by the US Trade Representative (USTR) against China’s maritime, logistics, and shipbuilding sectors could reshape merchant shipping trade. These historic measures include significant port fees and operational restrictions based on vessel ownership and cargo type. This unprecedented approach not only targets Chinese interests but also influences global shipping flows.
Pradeep Rajan, associate editorial director for Asia freight markets at S&P Global Commodity Insights, discusses the implications of these proposals on the shipping sector and tanker rates with Sameer Mohindru, lead specialist for price reporting in Asia shipping & freight, and Fotios Katsoulas, director of tanker freight and alternative fuels.
In this episode of the Oil Markets podcast, host Joel Hanley is joined by front-line North Sea reporters Natasha Tan and Joey Daly to mark the second anniversary of US crude WTI Midland's inclusion in the Dated Brent benchmark and the current dynamics underpinning the North Sea markets.
How has the addition of WTI Midland improved the robustness of the benchmark amid shifting dynamics in the Atlantic basin, and what are the latest developments between the regional North Sea grades and their American counterpart?
Guyana's latest crude stream is due to reach the market in the third quarter, adding 250,000 b/d to the South American country's production capacity. Output has climbed rapidly since Guyana's Liza grade made its debut in late 2019. This time, however, the new Yellowtail development will be bringing more light sweet crude to the market, which will compete with exports from Argentina and the US. How can Guyana compete at current oil prices, with WTI currently trading below $60/b? What does Yellowtail mean for the US production outlook? Who are the likely buyers for this Guyanese crude?
Join Jeff Mower, director of Americas Oil News, as he discusses these issues and more with Platts crude price editor Jada Johnson and Felipe Perez, S&P Global Commodity Insights head of Latin America Fuels & Refining Research and Strategy.
Related links:
ALIZA00
AUNIA00
AYARA00
When the US began announcing tariffs a month ago and China hit back with reciprocal tariffs, the whole oil market complex tumbled. Despite a relative recovery in line with crude oil four weeks later, the lighter end products of the barrel are still feeling the sting from an uncertain macroeconomic environment, as outlook in the global petrochemical industry flounders. With recession fears looming, what will a world of lower demand and tighter margins mean for the consumption of the two main petrochemical feedstocks, naphtha and LPG?
In this episode of the Oil Markets podcast, Joel Hanley leads a discussion with market experts Dias Kazym and Barbara Fernandez-Pita to explore the short and long-term outlook of these two products. Related: MPGC
The sweeping reciprocal tariffs announced by the United States in early April, followed by China's retaliatory levies on US imports, along with OPEC+'s decision to significantly increase output in May, have driven Platts Dated Brent to its lowest level since April 2021. As one of the largest oil-importing regions, Asia is poised to face substantial implications from these developments.
In this episode of the Platts Oil Markets Podcast, Asia Energy Editor Sambit Mohanty discusses key themes that are likely to keep Asian oil markets on edge in the foreseeable future with Calvin Lee, head of Asia content, and Premasish Das, executive director at S&P Global Commodity Insights.
Following the swathe of protectionist tariff measures announced by US President Donald Trump April 2nd, the crude oil complex was sent into a frenzy, with market outlook rapidly souring. But interesting patterns in both the paper and physical markets have been materializing.
In this episode of the Oil Markets podcast, Joey Daly leads an in-depth discussion with market experts David Neef and Joseph Jaffe to discuss the reaction of both the paper and physical markets in the middle distillates and fuel oil segments. While the crude oil market's negative reaction has captured immediate attention, what can these other segments reveal about the deeper impact of tariff conflicts?
“O Petróleo é Nosso,” or “The Oil is Ours,” was a popular slogan central to the founding of Brazil’s state-owned oil company, Petrobras, in 1953. The slogan can also be interpreted more broadly, as Brazil’s refined products markets have opened to more participants, leading to a surge in spot market activity and price transparency. As a result, Platts has launched new price assessments for Brazilian gasoline and diesel. How did those spot markets evolve? Why is the Northeast so reliant on imports? How are renewable fuels playing out in gasoline and diesel?
Jeff Mower discusses these topics and more with Renato Rostas, manager of the Platts Brazil refined products team, and Brazil gasoline and diesel price reporters Isabela Rocha and Kauanna Navarro.
Links: Gasoline FCA Suape BRL/CBM GASCA00 Gasoline FCA Itaqui BRL/CBM GASCC00 ULSD S10 FCA Paulinia BRL/CBM ULFCI00 ULSD S10 FCA Araucaria BRL/CBM ULFCK00
With the May 1st deadline for Mediterranean Emissions Control Area fast approaching, marine fuel suppliers and shipowners are bracing for impact. In this episode of the Oil Markets podcast, Rowan Staden-Coats is joined by Jan Kedzior and Tommy Petrou to discuss the different fuel options vessels have to comply with the upcoming sulfur emission regulations. What opportunity does this pose for compliant fuels like DMA marine gasoil and 0.1% ULSFO, and how will the demand for conventional fuel oil grades be impacted?
Related stories:
VLSFO cracks tumble to multi-month lows amid Med ECA zone shakeup
Mediterranean Hi-5 spreads narrow to near four-month lows on thin VLSFO demand
Tight supply pushes high-sulfur gasoil above ULSD in NWE
European 0.1%S gasoil tightens on Med demand, limited prompt NWE supply
Assessments:
0.1% CIF Med gasoil - AAVJJ00
CIF Mediterranean Marine Fuel 0.5% Cargo - MFCMM00
FO 3.5%S CIF Med Cargo - PUAAY00
Russia's temporary halt on attacks on Ukraine's energy infrastructure has raised hopes of the two countries eventually moving towards a peace deal, followed by the potential lifting of sanctions. This has also prompted a debate on whether any normalization of Russian oil flows could lead to an immediate reduction in flows from Russia to Asia—mainly India and China. O oil diplomacy will be at play and Russia will do all it can to ensure that it keeps its two top buyers on its side to ensure rock-steady outlets for its oil in the future?
In this episode of Platts Oil Markets Podcast, Asia energy editor Sambit Mohanty discusses with Shrikant Madhav Vaidya, former chairman of Indian Oil Corp., and Kang Wu, head of global macro and oil demand research at S&P Global Commodity Insights some of the key market developments that could influence oil trade flows to Asia.
The Mediterranean gasoil market is undergoing significant changes as new Emission Control Zones come into effect, drastically altering sulfur limits for marine fuels. In this episode of the Oil Markets podcast, our experts explore the evolving role of gasoil, an important middle distillate that is often overshadowed by diesel and jet fuel.
Host Joel Hanley is joined by Virginie Malicier, manager of middle distillate pricing, and Jan Kedzior, gasoil price reporter, to discuss the impact of reduced Russian supply, the growing importance of North African countries in the market, and the competitive dynamics between gasoil and diesel.
Links: 0.1% CIF Med gasoil - AAVJJ00 FOB West Africa 50ppm diesel/gasoil - AWFRA00 ULSD 10ppm CIF Med - AAWYZ00 FIRST TAKE WhatsApp Channel
The tech industry came in hot at the CERAWeek by S&P Global conference in 2025, and the conversation shifted from decarbonization and energy security in previous years to boosting the energy industry as a key piece of the AI race.
In this bonus episode, Commodity Insights co-president Dave Ernsberger joins Americas oil news director Jeff Mower to recap the key themes and developments from the conference, including the Trump administration's energy and geopolitical strategies, industry's outlook on investment and production, and the prevalence of decarbonization efforts.
Read more of SPGCI's CERAWeek coverage
Platts Connect
The beginning of spring marks the start of gasoline's seasonal transition from winter into summer specification but the market fundamentals remain under pressure on the prompt. Gary Clark is joined by Dias Kazym and Matthew Tracey-Cook to discuss how weak gasoline fundamentals extended to the European naphtha market, which also faces challenging petrochemical environment despite short-term supply volatility.
Links: Join us on Platts Connect
European naphtha backwardation at two-months low on weaker fundamentals (Subscriber content)
New US tariffs on imports from Canada and Mexico are highlighting the dependence of US refiners and consumers on crude and refined products from both countries. Why is the US Atlantic Coast in particular exposed to the supply and price impacts of the tariffs? Who will eat the costs of tariffs on Canadian crude?
Jeff Mower speaks with senior refining editor Janet McGurty and crude price editor Jada Johnson to discuss what options US Gulf Coast refiners have in obtaining heavy crude barrels, considering the 25% tariff on Mexican oil and considering that imports from Venezuela are no longer stable.
Links: Join us on Platts Connect Register for CERAWeek
India Energy Week brought together thought leaders, industry pioneers and curious minds from around the globe to discuss the future of energy in India and beyond. From shifting spotlight of oil producers towards India to the optimism around clean energy, such as hydrogen and biofuels, the event witnessed discussions and debates around India's current and future energy landscape. And a key question that was in focus was -- how will India strike a balance between the need for traditional fuels while embracing a new energy roadmap?
In this episode of Platts Oil Markets Podcast, Sambit Mohanty, Asia Energy Editor is joined by Dan Pratt, Head of Upstream Solutions, and Pulkit Agarwal, Head of India Content to discuss the key themes that dominated the event.
In what was the first direct hit from drone attacks on the Caspian Pipeline Consortium route since the onset of Russia's invasion of Ukraine in 2022, close to 1.5 million b/d of crude output from oil giant Kazakhstan has been brought into the spotlight. The development comes with an uptick in broader energy infrastructure attacks and against a backdrop of US and Russian talks over the war’s near-term future. What impact does a damaged CPC pipeline have on crude oil markets in the Mediterranean and more frequent refinery attacks mean for products in the region? Joel Hanley is joined by Nick Coleman, Elza Turner, and Luke Stuart to discuss the latest in this episode of the Platts Oil Markets podcast.
Links: CPC Blend CIF Augusta vs. BTC Dtd Strip - AAHPL00 Azeri Light CIF Augusta vs. BTC Dtd Strip - AAHPM00 Dated Brent - PCAAS00 Kazakhstan's CPC Blend pipeline throughput cut by drone strike - Read more (subscriber content) REFINERY NEWS: Russia's Syzran hit by drone strike, impact uncertain - Read more (subscriber content) Putin tells Kazakhstan's partners to help repair CPC pipeline after attack - Read more (subscriber content) Fujairah Bunkering & Fuel Oil Forum (FUJCON 2025) - More info
Since his return to the US presidency, Donald Trump has launched a maximum-pressure campaign on Iran in pursuit of a nuclear deal, in sharp contrast with a more diplomatic approach towards Venezuela. How will these geopolitical strategies affect oil exports, spot markets, and the role of players like China on the global stage?
Jeff Mower, Kate Winston, Chris van Moessner, and Pat Harrington unpack the latest moves from the Trump administration regarding Iran and Venezuela and what they mean for oil prices and the market landscape.
Links: Register for CERAWeek
India's rapidly growing energy demand, the shifting focus of oil producers towards the country, and the transition to cleaner energy sources are key themes at India Energy Week. Delegates will seek insights on how Indian energy companies and policymakers can balance the reliance on traditional fuels with a new energy roadmap.
In a comprehensive discussion, Dave Ernsberger, Co-President at S&P Global Commodity Insights, Ranjit Rath, Chairman and Managing Director at Oil India Ltd, and Sambit Mohanty, Asia Energy Editor, will explore key market issues of interest to delegates. They will address India's evolving relationship with non-OPEC producers and outline the strategies India plans to implement in its upstream sector to attract global investors.
This is a special bonus episode of Oil Markets, originally featured in the Commodities Focus series! Tune in!
A fast-paced beginning to the second Trump presidency has sent ripples across financial and commodities markets globally with tough talk on sanctions and tariffs, in particular.
Joel Hanley is joined by Thomas Washington and Herman Wang to dissect the impact US policy is having on oil and shipping markets and what OPEC+ make of Trump 2.0.
Links:
Register for London Energy Forum 2025 US tariffs on imports from Canada, Mexico delayed by one month OPEC+ stays the course with output cuts, pushes for improved compliance (subscriber content) Dated Brent PCAAS00 Dubai Mo01 PCAAT00
The recent expansions of the US Office of Foreign Asset Control (OFAC) vessel sanction list have sent shockwaves throughout the tankers and crude oil markets, raising questions about potential shifts in crude import strategies for China and India. Market participants are closely monitoring the extent to which Iranian and Russian crude exports may be disrupted, how major importers like China and India are adapting, and how sanctions may evolve under the new US administration.
In this episode, Benjamin Tang, liquid bulk team lead at S&P Global Commodities at Sea, is joined by Yen Ling Song, associate director for S&P Global Commodities at Sea, and Sameer Mohindru, senior editor for shipping and freight at S&P Global Commodity Insights to discuss the implications of the latest US sanctions targeting Russia’s oil tanker fleet and their far-reaching effects on global oil markets.
With European stockpiles of gasoline reaching uncharacteristically high levels in recent weeks, Joel Hanley is joined in this episode by Ernest Puey and Matthew Tracey-Cook. Together, they delve into the factors driving the incentive to store gasoline and explore the latest shifts in the product’s flows across the Atlantic Basin.
Links: Platts 10ppm Premium AR barges - PGABM00 Platts Eurobob FOB ARA barges - AAQZV00 Platts Eurobob AR FOB barge derivative time spread - GAMBM01
London Energy Forum: https://commodityinsights.spglobal.com/LondonEnergy-Forum.html
ARA gasoline stocks at multi-year high; naphtha stocks rise 8.1%: Insights Global European gasoline exports shift as Nigerian imports hit record low: CAS US President Trump to impose 25% tariffs on imports from Mexico, Canada starting Feb 1
US refiners have had a dramatic start to the new year, facing wintry blasts on the East Coast and devastating wildfires on the West Coast. Plummeting transportation fuel demand in Southern California, strong heating fuel demand in the Northeast, and cheap blending components in the Gulf Coast have created a balancing act for producers and shippers of gasoline and distillates -- and consumers pay the price.
Jeff Mower discusses the weather events, seasonal supply and demand, price movements, and more with senior downstream editor Janet McGurty, Americas light ends manager Sarah Hernandez and Americas middle distillates manager Jordan Daniel.
High volumes of WTI Midland crude arrived in Europe in December, significantly impacting light sweet sentiment in both the North Sea and West African markets. As we enter the new year, a resurgence of demand from Asia is beginning to reshape the landscape. Joel Hanley is joined by Joey Daly and George Delaney to explore the effects of renewed Asian demand for Western barrels and reflect on a month of record-breaking activity in the Platts North Sea physical Market on Close assessment process.
Links: Dated Brent - PCAAS00 Bonny Light FOB Nigeria London vs WAF Dtd Strip - AAGXL00 Girassol FOB Angola vs Angola Dtd Strip - AASJD00 WTI Midland CIF Rotterdam vs Fwd Dated Brent - WMCRB00
Boost in eastern demand supports North Sea, Angolan crude grade upticks (subscriber content) Midland volumes pressure European sweets in December (subscriber content) London Energy Forum: https://commodityinsights.spglobal.com/LondonEnergy-Forum.html
It’s been quite the year for oil markets. In this special episode of the podcast, Joel Hanley, Jeff Mower, Sambit Mohanty and Richard Swann look back at 2024 and try to untangle the biggest themes, including slowing demand growth, the incoming Trump administration, and the formidable challenge for OPEC+ in its quest for market control. The panel also discusses trade flows, new crude supply, and how changes in China’s economic fortunes could have a major impact going into 2025.
Links: Shadow fleets: The covert armada defying oil sanctions
The Russian government's announcement of the partial resumption of gasoline exports by the country's refineries comes at a time when global oil product flows are constantly evolving.
In this episode of the Platts Oil Markets podcast, Francesco Di Salvo is joined by Elza Turner, Robert Perkins and Matthew Tracey-Cook to discuss the reasons behind Russia's decision and what it means for product trading patterns along the length of the oil barrel and across global markets.
Links: 10ppm Premium FOB AR gasoline barges - PGABM00 FOB MED Premium gasoline cargoes - AAWZA00 Eurobob FOB ARA barges - AAQZV00 Russia lifts gasoline export ban for refineries - Subscriber content Russian refineries runs likely to suffer on poor margins - Subscriber content
China will slash its clean oil product export tax rebates from 13% to 9% starting December 1, which will likely dampen outflows from Asia’s third-largest oil product exporter. While this move may be seen as China laying the groundwork for potential trade talks with the US, other factors, such as capacity rationalization and mounting government debt, could also be at play.
In light of a potential US-China trade war, Commodity Insights’ Asia oil news editor Neo Rong Wei, market specialist Oceana Zhou, and AltView’s Grace Lee discuss in the latest episode of the Oil Markets podcast how this could bode well for Chinese oil demand, while exploring the wider implications these developments may have on regional crude and oil product markets in the year ahead.
Related content:
AltView Short-Term Outlook Storyboard
Trump election neutral for Chinese oil demand as Beijing looks inward
China's VAT rebate reduction to discourage clean oil product exports in 2025
After several false starts in developing domestic refining capacity, the African continent is now home to one of the world's largest refineries. But while Nigeria's Dangote refinery was expected to meet domestic fuel demand, distribution costs and affordability issues have driven it to export markets.
With new projects soon to come on stream in Angola, Congo, Ghana and elsewhere, Francesco Di Salvo, Matthew Tracey-Cook and Kelly Norways discuss on the latest Oil Markets podcast episode the prospects for African refiners to meet the region's growing demand for oil, amid competitive start-ups in the Middle East and decarbonisation initiatives abroad.
Links: Gasoline Prem Unleaded 10ppmS FOB AR Barge - PGABM00 Gasoline CIF West Africa Cargo $/mt - AGNWC00 Nigeria's Dangote refinery to export first gasoline as local market struggles (subscriber content) Africa's refining resurgence on course despite margin risk (subscriber content)
Much has been said about Donald Trump's ambitions in upstream oil sector, specifically his promise to unleash US oil producers and boost output. Conventional oil refiners, many of which have invested in renewables, are hopeful that Trump will reduce support for electric vehicles, propping up demand for conventional fuels. Biofuels producers are looking for Trump to maintain the tax incentives that have incentivized investments in the industry under Joe Biden’s administration, and are hoping for an expansion of E15 blended gasoline. However, tariffs remain the wild card.
Jeff Mower discusses these developments with senior downstream editor Janet McGurty, policy editor Eamonn Brennan, and US biofuels and feedstocks price editor Guadalupe Nunez.
The election of Donald Trump for a second term as US president has brought significant attention to US energy policy. Meanwhile, OPEC+ announced on November 3 its decision to delay tapering production cuts of 2.2 million b/d from December to January, having previously postponed from October 2024.
As markets absorb president-elect Trump’s victory, Payam Hashempour and Charlie Mitchell join Joel Hanley to analyze OPEC+ policy amid and beyond this political shake-up affecting the cartel’s major producer counterpart across the Atlantic.
Related content:
OPEC+ delays plan to ease crude oil output cuts by one month FIRST TAKE Whatsapp channel
Track our US Elections coverage
Price assesments:
Dated Brent
Dubai Mo01 (NextGen MOC)
Crude production in the Permian Basin is growing, but pipeline capacity growth out of the West Texas/New Mexico play is lagging. With Permian crude output expected to reach roughly 7 million b/d by December 2025, some industry watchers are concerned that tight exit capacity could lead to wider crude price discounts for Midland WTI. Will the market see a repeat of August 2018, when the WTI Midland discount widened to $20/b because exit capacity fell short? Does US crude export growth present another potential bottleneck? And what does lower-than-expected US crude export demand mean for several planned terminal expansion on the US Gulf Coast?
Jeff Mower, director of Americas oil news, discusses pipeline capacity, crude export demand, and more with senior upstream oil editor Starr Spencer and midstream oil editor Binish Azhar.
The footprint of US crude oil is rapidly expanding, intensifying competition with OPEC and non-OPEC supplies in key Asian markets. As geopolitical tensions in the Middle East escalate, how much US crude can fill potential supply gaps in Asia? Additionally, how could policies under a new US administration, whether led by Trump or Harris, impact oil outflows?
In a wide-ranging discussion with Sambit Mohanty, Asia energy editor, Joel Hanley, global director for crude oil at S&P Global Commodity Insights and Benjamin Tang, head of liquid bulk at S&P Global Commodities at Sea, share their insights on some of the key themes that could potentially have implications for Asia’s appetite for crude oil from the non-OPEC supplier, which is heading for a sharp growth in domestic output.
As high sulfur fuel oil cracks in Europe hover at year-to-date highs outside of their traditional summer peaks, reporters Tommy Petrou and Takis Gounaris join Joel Hanley to delve into the fundamentals that are providing a firm footing for fuel oil markets in Europe as heightened tensions in the Middle East stir up volatility across the commodities complex.
Links: FIRST TAKE Whatsapp channel: https://whatsapp.com/channel/0029Vah2ZJPGJP8JnyPYbf46 3.5%S FOB Rdam Barge - PUABC00 3.5%S FOB Rdam Barge Brent Crack Mo01 - AATZT00 Rotterdam HSFO barges reach 3-month high amid tight supply (subscriber content)
California gasoline prices are notoriously volatile, and state's lawmakers are taking notice. California's Senate is considering a bill proposed by Governor Gavin Newsom that would require state refiners to increase gasoline inventories and would also give the state additional control over refinery maintenance programs. How much does California's boutique blend play into the state's high gasoline prices? What is the plan for fuel storage in the state amid the energy transition? Will California become even more dependent on fuel imports as refining capacity continues to shrink?
Jeff Mower, director of Americas Oil news, discusses with refined products news editor Janet McGurty, refined products price editor Zoe Vastakis, and refining analyst Matthew Gordon.
Links:
Los Angeles CARBOB vs NYMEX AANVX00
Chicago RBOB vs NYMEX AANY102
As oil derivatives and futures contracts navigate volatile seas, how are the more prompt physical spot markets reacting to an expected return of Libyan supply amid other regional developments? Join Joel Hanley in this episode of the Oil Markets podcast as he engages with market experts Luke Stuart, George Delaney, and Joey Daly. They explore the impact of escalating tensions in the Middle East on crude prices in the Mediterranean, West Africa, and North Sea, providing critical insights into current market sentiment and what it means for traders and stakeholders navigating this volatile landscape.
Links:Cairo Energy ForumDated Brent - PCAAS00 WTI Midland CIF Rotterdam vs Fwd Dated Brent - WMCRB00 Azeri Light CIF Augusta - AAGZX00 CPC Blend CIF Augusta vs BTC Dtd Strip - AAHPL00 Bonny Light FOB Nigeria London vs WAF Dtd Strip - AAGXL00 Med sweet crude market under pressure amid expected return of Libyan barrels (subscriber content) Azeri Light differential collapses to four-week low as market eyes return of Libyan crude (subscriber content) Dual narrative emerges for Nigerian crude market as attention turns to Nov cycle (subscriber content) Ekofisk-WTI Midland spread at eight-month high amid diverging fundamentals (subscriber content)
Oil demand in India and China—the two Asian giants—was a key topic of discussion at the Asia Pacific Petroleum Conference. China's oil demand going forward remains a significant concern for oil-producing nations as oil consumption from Asia’s largest economy is waning amid weaker-than-expected economic growth and ongoing property woes, a double whammy for diesel demand. Meanwhile, crude producers look to others, namely India to pick up the slack potentially.
In this podcast, S&P Global Commodity Insights' Jonathan Nonis, associate editorial director is joined by Mriganka Jaipuriyar, head of news, APAC, and Pulkit Agarwal, head of India content to discuss the energy challenges in these two countries and their impact on oil markets for the rest of Asia. It also discusses the easing crude imports from China and its effects on the broader inter-Asia oil product market.
The impending closure of Grangemouth, one of the last six refineries in the UK, raises urgent questions about the future of Europe’s refining landscape as profitability declines. Our experts examine the challenges facing the European downstream sector, including evolving supply chains and the impact of energy transition trends. In this Oil Markets podcast episode, join host Herman Wang, Elza Turner and Kelly Norways as they discuss the potential for further refinery shutdowns and the critical shifts shaping oil markets across the continent.
Links:Energy Security Sentinel™ ULSD 10ppmS FOB ARA Barge - AAJUS00 Gasoline Prem Unleaded 10ppmS FOB AR Barge - PGABM00 Dated Brent - PCAAS00 Petroineos to close Scotland's Grangemouth refinery Q2 2025 (subscriber content) Mediterranean refiners cut runs due to margin squeeze (subscriber content) REFINERY NEWS ROUNDUP: SAF in focus in Asia, Europe (subscriber content) REFINERY NEWS ROUNDUP: Maintenance, closures, incidents in Europe (subscriber content) REFINERY NEWS ROUNDUP: Maintenance picks up in Asia-Pacific (subscriber content)
Crude futures prices have tumbled recently in part as supply expectations are outweighing demand forecasts. On the supply side, non-OPEC crude production has been rising, driven largely by output gains in the US, Canada, Guyana and Brazil. On the demand side, slowing economic growth, notably in China, has reduced the expected need for crude, at least in the near term. What role is technology playing in the crude output gains? Are pipeline constraints around the corner? And how is an endangered whale species posing an obstacle to Gulf of Mexico output? Join Jeff Mower, director of Americas Oil News, as he discusses with Platts US crude market editor Laura Huchzermeyer, senior upstream editor Starr Spencer, and oil futures editor Chris van Moessner.
Since the politically motivated suspension of crude oil production in Libya on August 26, the oil markets have experienced a heightened level of volatility, with price fluctuations depending on almost every new headline.
In this episode of the Platts Oil Markets Podcast, Joel Hanley is joined by reporters Charlie Mitchell and Luke Stuart to delve into the country's long history of production woes and discuss the impact of this latest crisis on local and macro oil markets.
Links: Libyan factions extend talks amid oil shutdown (subscriber link) OPEC+ weighs delay to Oct output hike amid weak oil prices (subscriber link) Oil market braces for volatility as supply glut fears drag Brent to 9-month low Dated Brent - PCAAS00 Es Sider FOB Libya vs BTC Dtd Strip - AAGYH00 Azeri Light CIF Augusta vs BTC Dtd Strip - AAHPM00 Saharan Blend FOB Algeria vs BTC Dtd Strip - AAHPN00
Emerging trends in Asian oil consumption centers, enhancing energy security and the decarbonization strategies Asian countries are pursuing will be some of the themes in focus at the Asia Pacific Petroleum Conference or APPEC 2024, by S&P Global Commodity Insights, which is scheduled to take place from September 9-12 in Singapore.
In a wide-ranging discussion with Asian Energy Editor Sambit Mohanty, three senior market experts, Dave Ernsberger, head of market reporting and trading solutions, Calvin Lee, head of Asia content and Kang Wu, global head of oil demand research, share their views on what APPEC delegates can expect to hear on those issues as well as on other topics, such as the evolving world of upstream, the supply strategy of OPEC and its allies, and the role of innovation in achieving net zero targets.
Economic growth has slowed in China, cutting into US crude exports and softening spot price differentials for US Gulf Mars crude. The expected supply surplus stemming from reduced Chinese buying has also helped to cushion the bullish impacts of the ongoing war between Israel and Hamas, keeping oil futures in a well-worn range.
Jeff Mower speaks with US crude reporter Laura Huchzermeyer, crude analyst Ian Stewart and oil futures editor Chris van Moessner about the current arbitrage economics for US crude to Asia and Europe, as well as the timeline and indicators for Chinese demand recovery.
OPEC’s latest and eagerly watched monthly oil market report, which presented a softer near-term demand outlook compared to its July forecasts, has coincided with a dip in oil prices at a time when the group has made clear its intention to gradually reintroduce supply to the market. Can OPEC and its allies remain calm in the face of a sluggish demand picture?
In this episode of the Oil Markets podcast, Joel Hanley is joined by S&P Global Commodity Insights’ Nick Coleman and Payam Hashempour to discuss the geopolitical and oil market fundamentals driving current OPEC+ policy.
Links: Dated Brent - PCAAS00 Dubai Mo01 - PCAAT00 OPEC+ still hopes to unwind oil cuts in October, as ministers keep close eye on the market (subscriber content) 'Call' on OPEC+ crude in 2024, 2025 trimmed again in bearish update S&P Global Commodity Insights Abuja Forum S&P Global Commodity Insights Lagos Forum
The future of Venezuela's oil industry is in the crosshairs of a political battle. Current president Nicolás Maduro is fighting to maintain power following a contested July 28 election, and protests have caused gasoline shortages in the country, where supply is already limited by low refinery run rates. While crude production has held up, Venezuela's exports have fallen, and it is possible the US will impose tougher sanctions on the country if Maduro clings to power, reducing the likelihood of further upstream and downstream investment.
Jeff Mower speaks with oil analyst Nick Blanco and senior refined products editor Maria Jimenez Moya about the implications of Venezuela's post-election turmoil on oil markets.
In July, US diesel exports to Europe surged to multi-year highs, displacing Middle Eastern flows due to inverted arbitrage economics and a bearish near-term outlook for the commodity in Europe.
In this episode of the Platts Oil Markets Podcast, host Joel Hanley is joined by Robert Perkins, Nadia Bliznikova, and Rebeka Foley to explore the latest developments in diesel flows, crack spreads, and the macroeconomic environment influencing supply and demand balances in the Atlantic basin.
Links: Cairo Energy Forum ULSD 10ppmS CIF NWE Cargo - AAVBG00 ULSD 10ppmS CIF Med Cargo - AAWYZ00 US diesel exports to Europe hit record high despite lackluster demand Middle East diesel exports to Europe hit 9-month low in July amid higher US supplies (subscriber content)
Never before India's oil import basket has changed so dramatically as it has changed in the past three years. The sharp rise in the share of Russian barrels have displaced big volumes of Middle Eastern crude. And now, as Indian refiners start to explore the possibility of signing term deals for Russian crude, market players are looking for answers on how this might further change trade flows as well as influence the production strategy of OPEC and its allies.
In a wide-ranging discussion with Sambit Mohanty, Asia energy editor, Rosemary Griffin, OPEC lead at S&P Global Commodity Insights, Pulkit Agarwal, head of India content, and Daniel Colover, head of market engagement for the Middle East, discuss the evolving scenario and the implications it might have on supplies from other regions.
Links:
Register for APPEC 2024
APPEC (Topic page)
The Dangote project in Nigeria is poised to disrupt refined product flows in the Atlantic Basin by early 2024. As the mega-refinery intensifies its search for crude sources beyond Nigeria, significant changes are expected in the market.
In this week's episode of the Oil Markets podcast, host Joel Hanley is joined by reporters Charlie Mitchell, Matthew Tracey-Cook, and Tommy Petrou. Together, they delve into Dangote's quest for alternative feedstocks and the dynamic shifts in gasoline and fuel oil flows in and out of Nigeria.
Links: Dangote refinery eyes Brazilian, African crudes amid feedstock woes (subscriber content) Bonny Light FOB Nigeria London vs WAF Dtd Strip - AAGXL00 West Africa Gasoline FOB Northwest Europe - AAKUV00 FOB Rotterdam Marine Fuel 0.5% Barge - PUMFD00 Straight Run 0.5-0.7%S FOB NWE cargo - PKABA00
Summer flying season has taken over for summer driving season. Jet fuel prices and demand have surged to record levels in June and July, and US officials report record-high numbers of airline passengers. Gasoline and diesel demand have largely been in line with seasonal norms, but US West Coast prices and demand have been dinged by increased adoption of biofuels and electric cars.
Richard Swann, global director for clean refined products, discusses summer demand and more with clean products associate editorial director Matthew Kohlman and Americas middle distillates manager Jordan Daniel.
The European Union’s decision on 24 June to target Russian shipping company Sovcomflot in its latest round of sanctions comes as ship tracking data shows a 5% monthly increase in seaborne crude oil exports through June. With changes to Russian crude and oil product exports in firm view for market participants, S&P Global Commodity Insights’ Francesco Di Salvo is joined by editors Robert Perkins, Elza Turner and Luke Stuart to discuss the latest flows and refinery news, as well as price sentiment for Russia’s flagship Urals export grade.
Links:Russia's seaborne crude exports rise in June despite OPEC+ pledges Urals Primorsk vs Med Dtd Strip - AAWVI00 Urals FOB Novo Suez vs Med Dtd Strip - AAHPH00 Urals DAP West Coast India vs Forward Dated Brent - DWCUB00
The aviation sector post-pandemic recovery was seen as a bright spot for regional oil demand this year. However, with uneven recovery within the industry and underwhelming performance in key markets such as China, the growth in demand is expected to ease in the coming months. This demand slowdown could potentially send the jet fuel market into turbulent skies ahead.
S&P Global Commodity Insights’ Asia oil news editor Neo Rong Wei discusses Asia's aviation recovery and its impact on jet fuel demand and cracks with associate editor Lee Shu Ling, who covers Asia jet fuel/kerosene markets and Platts Forward Curve associate editor Ernest Puey.
The Northern Hemisphere summer's regular star of the oil barrel, gasoline, has entered its traditional season of price strength with the market structure in contango and cracks far softer than usual for this time of year. With strong refinery production, rising inventories and a modest demand picture, Joel Hanley and frontline reporters Matthew Tracey-Cook and Kelly Norways examine the key variables currently affecting gasoline markets and discuss the impact of returning refinery utilization on the wider oil product spectrum.
Links: European gasoline crack hits multi-month low amid dull start to summer driving season (subscriber content) Gasoline Prem Unleaded 10ppmS FOB Med Cargo - AAWZA00Gasoline Eurobob 10ppm FOB ARA Barge Brent Crack Financial Mo01 (NextGen MOC) - ABWFL00 Gasoline Prem Unleaded 10ppmS FOB AR Barge - PGABM00
Canada’s Newfoundland and Labrador province is sitting on an estimated 124 billion barrels in offshore crude reserves with access to global export markets, but needs investors to bolster output. Pulling in investors will likely be difficult considering other offshore opportunities in the Americas, including Guyana and Brazil. Will Equinor Canada take an FID on its delayed Bay du Nord project? What is the potential of ExxonMobil’s Persephone prospect?
Americas oil news director Jeff Mower and Canadian energy reporter Ashok Dutta discuss these questions and examine the potential of Canada’s offshore.
Links: Register for APPEC 2024
Oil prices slumped after OPEC+ announced deals to ease voluntary crude output cuts in the last quarter of 2024 and extend group-wide production quotas into 2025. Market watchers are now closely monitoring quota compliance, global oil demand forecasts and non-OPEC+ supply growth.
In this episode of the Oil Markets podcast, S&P Global Commodity Insights’ Rosemary Griffin, Payam Hashempour and Charlie Mitchell join Herman Wang to run through the key points of the group’s latest deals and the market reaction.
Links:Energy Security Sentinel™ Steady oil prices indicate uncertainty around OPEC+ plan to increase output in Q4 (subscriber content) OPEC+ extends voluntary cuts to September, sets phase-out schedule (subscriber content) Dated Brent - PCAAS00 Dubai Mo01 - PCAAT00
Mexico's presidential election on 2 June comes at a time of declining crude and natural gas production and uncertainty over the country's transition to cleaner fuels and more reliable power generation. If Claudia Sheinbaum wins, as is widely expected, will she continue Lopez Obrador's policy of restricting private sector involvement in Mexico's energy industry? Why has Mexico's crude oil production fallen to its lowest level in 40 years? Will Mexico continue to push to reduce its dependence on refined product imports?
In this Oil Markets podcast episode, Jeff Mower, director of Americas oil news, is joined by energy reporter Sheky Espejo for a wide-ranging discussion on these topics and more.
Nigeria's Dangote refinery, built at a cost of $20 billion and is Africa's largest, has started exporting naphtha to North Asian markets at a time when the clean tanker market is witnessing prolonged firmness. The naphtha flow from Dangote is adding to the ton-mile demand in the clean tanker sector and this could be boosting the clean tanker market in the short- to medium term.
Associate editorial director for Asia Freight, Pradeep Rajan, discusses about West African naphtha flow and its impact on the clean tanker market with Sameer Mohindru, senior editor, Asia clean tanker market, and associate editor Zoey Ng, who covers Asia naphtha market.
As European refineries return from seasonal maintenance, ample prompt supply in the North Sea, Mediterranean and West African crude markets suggests that the demand side of the equation remains firmly in the red. Joel Hanley is joined by crude editors Sam Angell, George Delaney and Joey Daly to discuss the implications of a crude-saturated Atlantic basin for prices in the major oil markets west of Suez.
Links: Dated Brent PCAAS00 WTI Midland CIF Rotterdam vs Fwd Dated Brent $/bbl WMCRB00 Bonny Light FOB Nigeria London vs WAF Dtd Strip AAGXL00 Azeri Light CIF Augusta vs BTC Dtd Strip AAHPM00 WTI Midland CIF Rotterdam crude differentials plunge to weakest value since October 2021 Nigeria Bonny Light crude value falls to 5-month low: Platts assessment
Diesel imports into Brazil have risen in recent months, but remains below a recent peak seen in January as the South American country deals with new payment terms for Russian barrels. Not only that, but Russian diesel supplies have tightened following drone attacks on Russian refineries by Ukraine. Will USGC refiners return to the #1 spot in supplying Brazilian diesel imports? What impact has this shift had on US diesel exports?
Jeff Mower, director of Americas oil news, discusses these topics and more with senior refinery editor Janet McGurty, Latin American refined products editor Maria Jimenez Moya, and US refined products editor Ben Peyton.
Episode links: NEW Port Everglades CBOB differential to NYMEX RBOB APPNB00 NEW Port Everglades premium CBOB differential to NYMEX RBOB APPNJ00 NEW Tampa ULSD differential to NYMEX ULSD APPOI00 NEW Tampa Jet Fuel differential to NYMEX ULSD APPNU00
In May 2023, the world's most important oil price benchmark, Platts Dated Brent, which is used to underpin the price of significant volumes of traded crude oil, saw the addition of the first non-North Sea crude stream into its deliverable basket of grades: WTI Midland. Since then, the benchmark has seen liquidity skyrocket, the addition of new faces into the Brent complex’s long list of established market participants and, most importantly, the further strengthening of Dated Brent as a price indicator for commodity markets globally. In this episode of the Oil Markets Podcast, Joel Hanley is joined by Emma Kettley, Managing Crude Editor, and Sam Angell, Senior Crude Editor to discuss the one-year anniversary of Midland’s successful inclusion into the Dated Brent benchmark.
Related content: Infographic: Dated Brent April update Related story: April 2024 breaks trade liquidity records in Platts North Sea physical, Cash BFOE partials MOC
Mentioned price assessments: PCAAS00 - Dated Brent WMCRB00 - WTI Midland CIF Rotterdam vs Fwd Dated Brent $/bbl
The spotlight on India's oil sector has never been stronger. India's role in global oil markets is set to expand at a fast pace until the end of the decade, making it the biggest center for demand growth, according to the IEA. Refining expansion remains a key priority, but with a tilt towards petrochemicals, and the country’s upstream strategy aims to realize the hydrocarbon potential of offshore regions.
While rising Russian oil flows and its impact on purchases from the Middle East is dominating the discussion on trade flows, rising oil prices is throwing up new challenges for the economy. In a wide-ranging discussion with Sambit Mohanty, Asia Energy Editor, Atul Arya, Chief Energy Strategist at S&P Global Commodity Insights, and Dharmakirti Joshi, Chief India Economist at CRISIL -- a unit of S&P Global -- share their views on the roadmap ahead for India's oil sector as the country is set to elect a new federal government.
Ahead of ARDA Week 2024 in Cape Town, South Africa, S&P Global Commodity Insights reporters Matthew Tracey-Cook, Kelly Norways and Elza Turner join Joel Hanley to discuss the changing dynamics of oil products markets in West Africa following the fresh development that Nigeria’s giant Dangote refinery has exported its first refined product cargo destined for Europe. In this episode of the Oil Markets podcast, our experts delve into the light and middle-distillate dynamic in West Africa and provide the latest refinery news from the region.
Related price assessments: AGNWC00 - Gasoline CIF West Africa Cargo $/mt AGNWD00 - Gasoil FOB STS Lome West Africa Cargo $/mt (NextGen MOC)
Related subscriber content: First oil products from Nigeria's giant Dangote refinery head to Western Europe Dangote refinery starts supplying diesel to Nigerian market Nigeria's Dangote gasoline production plans delayed, analysts eye fourth quarter
Events: Middle East Petroleum and Gas Conference (MPGC): Evolving core energy markets within a sustainable landscape
The Biden administration recently said it was no longer looking to buy up to 3 million barrels of crude for August and September to refill the Strategic Petroleum Reserve, which was drawn down to prevent oil price spikes following Russia’s invasion of Ukraine. With oil prices lingering at $85/b to $90/b, what are the chances the Department of Energy will continue refilling US reserves? How important are those reserves as the US heads into what is expected to be an active Atlantic hurricane season? What other tools does Biden have to keep a lid on prices ahead of the November presidential election?
In this Oil Markets episode, Jeff Mower is joined by senior policy reporter Eamonn Brennan and oil futures reporter Chris van Moessner to discuss these developments and more.
Episode links: NEW Port Everglades CBOB differential to NYMEX RBOB: APPNB00 NEW Port Everglades premium CBOB differential to NYMEX RBOB: APPNJ00 NEW Tampa ULSD differential to NYMEX ULSD: APPOI00 NEW Tampa Jet Fuel differential to NYMEX ULSD: APPNU00
A sharp increase in Ukrainian drone attacks on Russian energy infrastructure has those in the refined products markets looking at the near-term implications for export volumes, trade flows, freight rates and commodity prices. S&P Global estimates that Russian refineries with a combined nameplate capacity of over 1.6 million b/d nationwide have now been affected to some degree by Ukrainian attacks. In this episode of the Platts Oil Markets podcast, Joel Hanley is joined by Tom Washington, Senior Writer, Rebeka Foley, Senior Oil Markets Analyst, and Nadia Bliznikova, Associate Editor, to discuss how the latest developments are impacting related diesel and tanker markets in the region and further afield.
Related stories: Interactive: Global oil flow tracker Strike on Russia's Taneco refinery marks leap in Ukrainian drone radius REFINERY NEWS: Russia's Taneco attacked by drones: reports (subscriber content)
Related price assessments: AAVBG00 - ULSD 10ppmS CIF NWE Cargo AAWYZ00 - ULSD 10ppmS CIF Med Cargo
The 2024 CERAWeek by S&P Global conference just wrapped up in Houston, where oil industry executives were talking up, often aggressively, the need for oil and gas to remain in the mix during the transition to cleaner energies. They also discussed environmental solutions which will be needed to keep that oil flowing, namely the need for large-scale carbon capture projects.
Jeff Mower talks with upstream oil editor Starr Spencer and midstream oil editor Binish Azhar about the outlook for oil production in the US, as well a roadblocks for CCS projects that are hinging on lengthy regulatory approvals.
For more about carbon capture and the energy transition, check out the Future Energy podcast
Oil industry executives at the CERAWeek by S&P Global conference were largely bullish on oil production growth, shedding recessionary concerns voiced the prior year. They were less enthusiastic about the pace of energy transition, citing the need for more certainty from governments on carbon pricing and other incentives.
In this bonus episode of the Platts Oil Markets podcast, Jeff Mower is joined by Dave Ernsberger, S&P Global’s head of Market Reporting and Trading Solutions, and Richard Swann, global director of clean refined products, to discuss these developments.
Read more of S&P Global Commodity Insights' CERAWeek coverage
Platts Connect
In the midst of Vladimir Putin’s rubber-stamp re-election as Russian President through March 15-17, a tightening of G7 sanctions led by Washington has seen over 10 companies and dozens of vessels put on the sanctions list for price cap circumvention since October.
In addition, the election coincided with a significant increase in Ukrainian attacks on Russian refineries, adding further uncertainty to the world of Russian crude and oil products.
In this week’s Platts Oil Markets podcast, Francesco Di Salvo is joined by Principal Journalist Max Lin, Senior Editor Elza Turner and Associate Editor Luke Stuart to discuss the impact of both the new sanctions campaign and the newly damaged Russian oil infrastructure on prices for Russia's flagship exports.
Price assessments we talked about: AAWVH00 - Urals FOB Primorsk
Related content: FACTBOX: Russian refining outages mount under surge of Ukrainian drone attacks (subscribers) Greek operators regain share in Russian crude exports despite tighter sanctions Interactive: Seaborne trade in Russian oil under G7 price cap
Economic power-house China has set out 10 targets for 2024, which is pro-growth for oil demand, keen on energy security, and prioritizing accelerated industry modernization and development of new productive forces.
In this episode of Platts Oil Markets podcast, Managing Editor for refined oil products, Wanda Wang has invited China experts Grace Lee, Asia analyst from the AltView team, Sijia Sun, Associate Director, China Oil Market, and Oceana Zhou, Oil Market Specialist, to discuss the oil-market related highlights following China’s “Two Session” meetings -- the biggest annual political gathering in the country, which happened over March 4-11.
Once a global powerhouse of crude production, the UK’s North Sea region saw its oil output decline accelerate to 12% in 2023, according to official data from the UK’s Department of Energy Security and Net Zero. The new figures come as the UAE’s Taqa revealed to S&P Global Commodity Insights that it plans to cease production at the Cormorant oil fields in 2024, a key component of Brent grade.
In this episode of the Platts Oil Markets podcast: Joel Hanley is joined by Nick Coleman, Senior Editor for Oil News, and Sam Angell, Senior Editor covering the North Sea crude market, to discuss the outlook for North Sea oil production and the latest developments surrounding the global oil benchmark Platts Dated Brent.
Content mentioned in the podcast: Infographic: Dated Brent February update Continue viewing the infographics by subscribing to the S&P Global Platts Connect. Email ci.support@spglobal.com to learn more and subscribe.
Asian oil flows could witness drastic changes for the remainder of the decade amid growing belief that India will cater to the biggest share of incremental growth in demand in the region. The International Energy Agency has recently said that India's role in global oil markets will likely expand substantially, fueled by strong growth in its economy, population, and demographics, making the country the largest source of demand growth from now until 2030. And in the same period, oil demand growth in developed economies and China will initially slow down and then subsequently go into reverse. In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, S&P Global Commodity Insights senior market experts Kang Wu, global head of oil demand research, Pulkit Agarwal, head of India content, and Alice Niu, Head of China content, share their views on the potential drivers for the shift in demand that could redraw the oil map for Asia.
Latin American crude production is on the rise, with countries like Brazil, Guyana and Argentina leading the way. However, Latin American heavy sour crude output is expected to decline, and flows will be reshuffled as Canada’s Trans Mountain crude pipeline expansion starts up and as operations begin at Pemex’s Olmeca refinery. Why is heavy sour crude output declining, and what does the output decline and reshuffling of barrels mean for crude prices?
SPGCI's Americas oil news director Jeff Mower discusses these questions and more with oil research analysts Stephanie Rivera and Nick Blanco and crude pricing director Beth Brown.
Register for CERAWeek Register for World Petrochemical Conference
Related content: Latin America Short-Term Outlook – Crude Oil (report) Liza FOB Guyana (price) Oriente FOB Esmeraldas (price) Western Canadian Select at Hardisty (price)
As the European ultra-low sulfur diesel complex rallies on concerns around Eastern resupply unable to pass through the Red Sea, gasoil – its high-sulfur counterpart – is under unusual pressure. In this episode of the Platts Oil Markets podcast, editors Natasha Tan and Nadia Bliznikova discuss recent trends with Francesco Di Salvo.
Further reading: Med ULSD-gasoil spread at 14-month high on tight diesel, weak gasoil (subscribers)
Related price assessments: AAVJJ00 - Gasoil .1%S (1000ppm) CIF Med Cargo (NextGen MOC) AAUQC00 - Gasoil .005%S (50ppm) FOB ARA Barge (NextGen MOC) AAWYZ00 - ULSD 10ppmS CIF Med Cargo
Following a 1 million b/d growth in US oil output in 2023, oil producers and service companies have been warning of slowing growth this year during their fourth quarter earnings calls. Will production surprise to the upside? And what would that mean for US refiners? In this episode of the Platts Oil Markets podcast, senior upstream editor Starr Spencer, senior refinery editor Janet McGurty and midstream editor Binish Azhar discuss these questions and more with host Jeff Mower, Americas Oil News Director.
Further reading: ExxonMobil, Chevron tweak Permian operations while nearing 1 million boe/d output Volatile prices, slower growth seen tamping down Helmerich & Payne's 2024 rig count Valero sees wider coastal heavy crude differentials on heavy Q1 turnaround season
In the face of continued security issues in the Red Sea stemming from Houthi attacks on commercial vessels, European trade patterns for oil products across the barrel are changing. S&P Global Commodity Insights’ Robert Perkins, Nadia Bliznikova and Takis Gounaris join Joel Hanley to discuss the impacts the Red Sea disruption are having on the European supply-demand balance for key oil products
Asia so far, has not witnessed any dramatic changes to near-term oil supplies amid the ongoing Red Sea crisis, but refiners are chalking out alternative plans to ensure steady feedstock flows in the event of an escalation -- a move that could inflate insurance costs and crimp refining margins.
There has been a strategic push among Asia's top importers to massively diversify their import baskets over the years, as well as expand strategic storage capacities. The market is trying to find answers on whether these developments can come in handy to ensure smooth and uninterrupted supplies of feedstocks. Or are there enough reasons for Asian oil buyers to worry about supplies?
In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, S&P Global Commodity Insights’ Rahul Kapoor, Vice President for Shipping Research and Analytics, and Sameer Mohindru, Senior Editor for Asian Freight Markets, share their views on how some of the recent geopolitical developments could potentially affect Asian oil flows, tanker freight and shipping costs.
With OPEC suggesting in its monthly oil market report that global oil demand growth will outweigh an expected increase in non-OPEC supply across 2024 and 2025, market watchers will be keen to see how the group and its allies respond to still slumping oil prices.
In this episode, S&P Global Commodity Insights’ Jim Burkhard, Rosemary Griffin and Charlie Mitchell join Herman Wang to discuss the key points of the group’s latest report, OPEC supply from a wider geopolitical and economic outlook, as well updates on Libyan output and Angola’s decision to leave OPEC at the end of 2023.
London Energy Forum 2024
For the first Oil Markets episode of 2024, S&P Global Commodity Insights' oil experts team up across pricing, news and research to provide a fresh look at the crudes everyone is talking about — the new grades from Guyana’s Stabroek Block.
Jeff Mower speaks with Ha Nguyen, Felipe Perez and Pat Harrington about how Liza, Unity Gold and Payara Gold are helping drive global production growth outside of OPEC. They discuss production forecasts, how action from Venezuela could affect growing exports, and where Guyana’s crude is going. How are emerging refiner preferences affecting the price of the new Guyanese grades? And with turmoil in the Red Sea disrupting trade flows and boosting the price for some crudes in the Atlantic Basin, what is in store for Guyanan oil?
Links: Register for CERAWeek by S&P Global
Subscribe to Platts Connect
In the final episode of the Oil Markets podcast for 2023, S&P Global Commodity Insights crude and refined products directors Joel Hanley and Richard Swann round up the biggest events and trends of the year.
They provide an across-the-barrel retrospective of the year in oil markets, including shifting trade flows, developing markets for Russian oil, the emergence of Guyana as a crude powerhouse and a landmark year for established benchmarks Dated Brent and Dubai.
Related prices: ULSD DAP South Brazil (All-Origin) AULDA00 Payara Gold FOB Guyana AYARA00 Dated Brent PCAAS00 Dubai Mo1 PCAAT00
Further reading: Guyana calls for UN sanctions on Venezuela over disputed territory Midland's successful inclusion into Platts Dated Brent
The UK’s Grangemouth refinery is set to cease operations in the coming years to be converted into a fuel import terminal, owner Petroineos has said, with current operations to continue into at least early 2025. The refinery supplies close to 86,000 b/d of transport and heating fuels to the UK market and has a direct pipeline of supply from Forties crude, though has in recent years it has seen its reliance on the North Sea grade wane. The news marks a continuing theme of refinery closures in Europe, with the International Energy Agency estimating close to 610,000 b/d of production capacity being taken offline between 2020 and 2022.
In this podcast, S&P Global Commodity Insights’ Global Director of Crude and Fuel Oil markets, Joel Hanley, speaks with Kelly Norways, reporter for downstream oil, Elza Turner, senior editor covering oil markets and Matthew Tracey-cook, associate editor, EMEA Light Ends to discuss the knock-on effects of Grangemouth’s coming closure, and casts an eye on the latest developments in the refining sector in the UK, across Europe and more globally.
A reduction in daily transits at both the Neopanamax and Panamax lock systems have resulted in longer wait times to transit the Panama Canal. These limits to daily transits are expected to continue into 2024, leading shipowners to raise freight costs as they look for reimbursement for higher transit and demurrage fees. As the price of auction slots continues to rise, owners are looking at alternative routes to circumvent the canal altogether. The uncertainty may also affect bunkering demand at what has become one of the biggest hubs in the world.
Commodity Insights' Americas dirty products manager Patrick Burns sits down with Americas tankers reporter Catherine Rogers to discuss how shipping markets have been impacted by the continued conservation measures taken by the ACP, what upcoming restrictions mean for shipowners, and how shippers plan to navigate the logistical bottleneck heading into 2024.
The new year looks set to see a seismic shift in China’s oil industry, as concerns grow about the future of crude oil imports and by extension product exports from the country, amid headwinds in the country's refining sector. Questions abound about the impact of China’s reduction in crude imports and the knock-on effect it might have on product exports from the swing exporter.
In this podcast, S&P Global Commodity Insights' Oceana Zhou and Daisy Xu, our China market specialist for oil join Jonathan Nonis, our Associate Editorial Director to discuss some of these questions.
The West African Gasoline market is about to undergo major transformations. Belgium has proposed new environmental measures to suspend low-quality motor fuel exports, following similar move by the Netherlands. Will consumers like Nigeria turn to alternative blending hubs, or resign themselves to higher prices at the pump?
In this episode of the Platts Oil Markets podcast, London-based downstream reporter Kelly Norways and gasoline editor Matthew Tracey-Cook join Joel Hanley to discuss the impacts of these new regulations and how the markets have reacted so far.
Related price assessments: AAKUV00 – Platts Gasoline FOB NWE West Africa Cargo PGABM00 – Platts Gasoline Prem Unleaded 10ppm FOB ARA Barge
Further reading: Belgium moves to prohibit export of low-quality motor fuels to Africa Imports of gasoline into Nigeria to meet 200 ppm sulfur cap: sources
The lifting of Venezuelan oil sanctions by the US has sparked a series of reactions in the upstream market. S&P Global expects an increase of roughly 100,000 b/d in crude exports from Venezuela to 850,000 b/d.
Jeff Mower, director of Americas oil news, sits down with Americas crude markets editor Patrick Harrington and Mexico energy editor Sheky Espejo to discuss the sanctions and the impact their lifting will have on competing Mexican and Canadian crude grades.
European fuel oil sulfur spreads surged in October as events further afield spurred opposing price movements for low- and high-sulfur fuel grades. A sudden easing of US oil and gas sanctions on Venezuela has sent high sulfur markets tumbling, while a mysterious shift in exports from Kuwait hit low sulfur markets in the Middle East and Asia, all against the backdrop of a gentle wind-down to an unusual European summer. In this episode of the Platts Oil Markets podcast, Francesco Di Salvo is joined by Managing Editor for fuel oil Rowan Staden-Coats.
Related price assessments: PUABC00 - FO 3.5%S FOB Rdam Barge PUMFD00 - Marine Fuel 0.5% FOB Rdam Barge $/mt
Oil market volatility amid the conflict in the Middle East has started to ring alarm bells for Asian refiners. Hamas' surprise attack on Israel has fanned worries of a long-drawn period of geopolitical turbulence at a time when global oil markets are already been facing a squeeze in supplies, while demand continues to grow. This has rekindled the debate on oil crossing the $100/b threshold again.
S&P Global Commodity Insights' Asia energy editor Sambit Mohanty speaks with Kang Wu, head of global demand and Asia analytics, and Daniel Colover, head of market engagement for the Middle East, on how some of the recent geopolitical developments, including the removal of sanctions on Venezuela, could potentially affect Asian oil markets.
Geopolitical tensions are, once again, spooking oil markets, with the Israel-Hamas war dominating all discussions. Even with the impact of the armed conflict so far restricted to the Mediterranean, market players are increasingly concerned about the potential for escalation, which is being reflected in rising insurance premiums. In this episode of the Platts Oil Markets podcast, Andy Critchlow, the London-based head of the S&P Global Commodity Insights news team, and oil and freight reporters Nadia Bliznikova and Lei Zhong join Joel Hanley to discuss the impact of a conflict that evokes memories of major oil crises in the past.
Related price assessments: AAWYZ00 - ULSD 10ppmS CIF Med Cargo PFADB10 - Clean Med-Med 30kt MR Wsc
As mentioned in the episode, explore our Energy Security Sentinel™ and see how disruptions affect energy flows in the region.
After sanctions on Russia in the aftermath of the invasion of Ukraine, Brazil started sourcing 78% of its imports from Russia. But in mid-September, Russia announced a ban on refined product exports to ease its own domestic fuel prices. It quickly changed course, however, partially lifting the ban in early October to free up storage for winter grade diesel and to offload remaining summer product. Now, the Brazilian market must decide whether to trust Russia as a steady source of fuel or to to return to the more reliable US Gulf Coast for diesel supply.
S&P Global Commodity Insights' light ends pricing manager Sarah Hernandez, middle distillates manager Jordan Daniel, and Latin America refined products reporter Maria Jimenez Moya discuss how Russia lifting its diesel ban is affecting trade flows in Brazil.
Links: (NEW) AULDA00 - ULSD DAP South Brazil (All-Origin) $/bbl Join us on Platts Connect
Global fuel markets were set to receive another shockwave when Russia announced a ban on diesel and gasoline exports amid tight domestic supplies. Brazil and other importers of Russian diesel were expected to suffer the most. But judging by the falling prices, things are not going quite as some had expected.
In this episode of the Platts Oil Markets podcast, London-based oil news reporter Elza Turner and oil price reporters Matthew Tracey-Cook and Sasha Foss join Francesco Di Salvo to discuss the market's reaction to a ban that many traders doubt Russia can stick to for much longer.
Related price assessments: AAVBG00 - ULSD 10ppmS CIF NWE Cargo AULDA00 - ULSD DAP South Brazil (All-Origin) AAQZV00 - Gasoline Eurobob FOB AR Barge
Read more: Russian authorities discussing easing diesel export ban: energy minister
As crude prices have recently inched up past the $90/b level, they are on pace to end the third quarter nearly 35% higher than they started, fundamentally altering the landscape for both upstream and downstream players. Drillers and producers are ramping up output as they look to capitalize on high prices, while refiners are more cautious as they expect tight supply, low inventory and rising demand through year-end.
S&P Global Commodity Insights' oil futures editor Chris van Moessner chats with upstream editor Starr Spencer and senior refinery writer Janet McGurty about the industry is adapting to the new price environment and how that could impact Q3 results.
Join us on our new comprehensive platform, Platts Connect
The OPEC+ production cuts continue to impact both crude oil and refined products. Dated Brent has reached a 10-month high. Prices in the diesel market are also rising amid supply constraints. Meanwhile, the latest report from the IEA has warned investors of strong demand in Q4.
In this episode of the Platts Oil Markets podcast, London-based oil news reporter Robert Perkins and oil price reporters Sam Angell and Sasha Foss join Francesco Di Salvo to discuss the current bullish sentiment supporting prices as market participants react to the latest developments in the oil markets.
Price assessments discussed: PCAAS00 - Dated Brent AJSVB00 - Johan Sverdrup FOB North Sea vs North Sea Dtd Strip AAVBG00 - ULSD 10ppmS CIF NWE Cargo
The 39th annual Asia Pacific Petroleum Conference in Singapore captured the tone of Eastern oil markets in early September, catapulting the energy transition back into focus after the distraction of recent world events. Richard Swann, Dave Ernsberger and Joel Hanley share their views on what was a lively week, packed with information on oil, carbon, shipping, biofuels and more. They also reveal the conference’s oil price prediction for the end of the year.
Related: Interactive: Platts Periodic Table of Oil - 6th edition sees new technology, carbon intensity data
Check out our coverage of APPEC 2023 on our website.
The European bionaphtha market is starting to gain traction as the number of available feedstocks increases and demand for cleaner alternatives grows. Limited supply capacity has kept prices high, but production is set to increase amid a boom in biorefinery construction in the region. As a result, more trading opportunities will become available, along with the potential for a liberalized and transparently priced market.
In this episode of the Platts Oil Markets podcast, London-based oil price reporters Vinicius Maffei, Simone Burgin and Aly Blakeway join Francesco Di Salvo to discuss the development of bionaphtha, as well as SAF and biopropane markets, as Europe leads the way in alternative fuels.
PAADU00 - Bio-Naphtha FOB NWE Premium $/mt ABPRB00 - Bio-Propane FCA NWE Premium $/mt AJNWF00 - Sustainable Aviation Fuel CIF ARA Premium $/mt
Americas refined products markets are adjusting to altered trade flows more than a year after Russia’s invasion of Ukraine. Refined products that were once supplied to Brazil from the US Gulf Coast have now been replaced by Russian barrels, while other markets in Latin America are still being wary of touching Russian product out of fear of repercussions from the US. Oversupply has caused naphtha in particular to deal with volatility and low export demand.
S&P Global Commodity Insights’ Maria Jimenez Moya, Latin America refined products price reporter, sits down with Sarah Hernandez, managing editor for Americas light ends pricing, to discuss the changes arising in North and Latin American markets of naphtha and refined products as a result of Russian inflows.
Related prices: NEW: AULDA00 - ULSD DAP South Brazil (All-Origin) $/bbl AGSUA00 - Gasoline CFR Suape Cargo Differential USC/Gal
Asia's oil demand revival, China's much anticipating role in aiding that recovery, heightened concerns around managing legal, regulatory and sanctions risks , as well as the region’s affinity for embracing new energy will be some of the key themes in focus at the Asia Pacific Petroleum Conference -- or APPEC 2023 -- organized by S&P Global Commodity Insights and scheduled to take place in Singapore from September 4 to 6 of 2023.
In a wide-ranging discussion with Asia Editorial Lead Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Calvin Lee, Asia Head of Content, Mriganka Jaipuriyar, Asia Head of News, and Kang Wu, Head of Global Demand and Asia Analytics -- share their insights on the key themes that could potentially dominate the discussions at APPEC, we well as how Asian energy companies and policy makers are crafting out their future energy strategies in a region heavily dependent on fossil fuel imports.
S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date!
Stay on top of our coverage of APPEC 2023 on our website.
More listening options:
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
For many years, Russia was Europe's main supplier of key refined oil products until Western sanctions were imposed in February 2023. Six months into the embargo on Russian refined products, markets across the continent continue to adjust. Prices appear to be rising and shipping times have lengthened as European buyers find products further afield in India, the Middle East and the US Gulf Coast.
In the second of a special two-part Platts Oil Markets podcast retrospective, OPEC+ Oil News reporter Rosemary Griffin and Refined Oil Products Managers Gary Clark and Kieran Hess join Francesco Di Salvo to discuss how European oil markets have adapted to a "new normal" following one of the most consequential events in the geopolitics of oil in decades.
Click here to listen to part 1 of this special retrospective.
Related price assessments:
AAVBG00 – ULSD 10ppm CIF NWE Cargo
PAAAL00 – Naphtha CIF NWE Cargo
PMAAS00 – Propane FOB ARA
S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date!
Stay on top of our coverage of APPEC 2023 on our website.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Trade disruptions. Refinery adjustments. New arbitrage flows. These are some of the consequences Europe faced as the continent had to wean itself off Russian crude following the embargo, which came into effect in December 2022. Russia has since managed to find new customers in Asia, but military attacks on oil infrastructure in the Black Sea could jeopardize such a strategy.
In the first of a special two-part Platts Oil Markets podcast retrospective, OPEC+ Oil News reporter Rosemary Griffin and Crude Oil Managers Emma Ketley and John Morley join Joel Hanley to discuss how European oil markets have adapted to a "new normal" following one of the most consequential events in the geopolitics of oil in decades.
KBCOB00 – KEBCO CIF Med vs Med Dtd Strip
KBCOD00 – KEBCO CIF R'dam vs Med Dtd Stri
AURLA00 – Urals DAP India vs Dubai
DWCUB00 – Urals DAP India vs Forward Dated Brent
S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date!
Stay on top of our coverage of APPEC 2023 on our website.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
The small South American country of Guyana has experienced a quick transformation within the past decade, going from zero oil production in 2019 to nearly 400,000 b/d in 2023 and that is expected to reach around 600,000 by the end of 2024. That will position Guyana as one of the world’s top oil producing countries in the world and a rare exception in the market where exploration and production is expanding.
S&P Global Commodity Insights' oil pricing and news experts Laura Huchzermeyer, Patrick Harrington, and Starr Spencer discuss investment and pricing trends in Guyana, as well as new price assessments for Guyana’s Unity Gold.
Prices in this episode:
Liza FOB Guyana
Unity Gold FOB Guyana
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Refiners in Asia are crafting out expansion strategies and pumping billions of dollars to diversify their portfolio and adapt to the changing energy landscape. Renewables, hydrogen and solar energy are starting to figure in their ambitions. But a key area of focus for refiners is to raise their petrochemicals intensity to ensure business models remain profitable in the event electric vehicles and other cleaner forms of energy take a toll on demand for transport fuels. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Maria Tsay, Global Head of Petrochemicals Pricing, Zhuwei Wang, Asian Oil Analytics Manager, and Pulkit Agarwal, India Content Head -- share their insights on whether going further downstream would be the only option for refiners to remain profitable and over the longer term.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: SPGCI Podcast Survey
More listening options:
Nigeria, Africa's largest crude oil producer, is struggling to keep oil flowing amid leaks at the Forcados oil terminal port. The ill-fated facility has been offline for much of 2022 due to sabotage, and now faces the prospect of another force majeure that could affect European markets.
In this episode of the Platts Oil Markets podcast, oil news reporter Charlie Mitchell and oil price reporters Luke Stuart and George Delaney join Francesco di Salvo to discuss what is happening in Nigeria and how traders have reacted so far.
Related price assessments:
AAGXP00 - Forcados FOB Nigeria vs WAF Dtd Strip
AAGXL00 - Bonny Light FOB Nigeria London vs WAF Dtd Strip
AAHPM00 - Azeri Light CIF Augusta vs BTC Dtd Strip
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Nigeria, Africa's largest crude oil producer, is struggling to keep oil flowing amid leaks at the Forcados oil terminal port. The ill-fated facility has been offline for much of 2022 due to sabotage, and now faces the prospect of another force majeure that could affect European markets.
In this episode of the Platts Oil Markets podcast, oil news reporter Charlie Mitchell and oil price reporters Luke Stuart and George Delaney join Francesco di Salvo to discuss what is happening in Nigeria and how traders have reacted so far.
Related price assessments:
AAGXP00 - Forcados FOB Nigeria vs WAF Dtd Strip
AAGXL00 - Bonny Light FOB Nigeria London vs WAF Dtd Strip
AAHPM00 - Azeri Light CIF Augusta vs BTC Dtd Strip
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
North American heavy and sour crude price differentials have reached multiyear highs in recent weeks. These are prices that are typically seen only after major production disruptions like hurricanes. But there are no clouds in sight in the Gulf of Mexico. Sour crude prices are supported by a myriad of factors including global supply tightness, Strategic Petroleum Reserve buybacks and very strong values for high sulfur fuel oil.
S&P Global Commodity Insights' Laura Huchzermeyer, Americas crude pricing manager, discusses current pricing trends with USGC crude reporter Kristian Tialios and residual and marine fuel manager Patrick Burns.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Europe is bracing for challenges this summer as its main waterway experiences lower-than-usual rainfall. The Rhine is drying up well ahead of historical patterns, and the short-term forecast is for water levels to fall below critical levels for barge navigation as early as mid-July.
In this Platts Oil Markets podcast from S&P Global Commodity Insights, John Morley is joined by oil news reporter Robert Perkins, as well as Natasha Tan and Vinicius Maffei, middle-distillates and light-ends price reporters respectively. Together they look at the immediate impact and potential disruption to European oil product markets should the Rhine suffer a severe dry spell.
Related price assessments:
AAJUS00 - ULSD 10ppmS FOB ARA Barge
PJABA00 - Jet FOB FARAG Barge
PAAAL00 - Naphtha CIF NWE Cargo $/mt
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Summer travel season is upon us, so what's the outlook for fuel demand in the Americas for the coming months? Naphtha, a key component in gasoline, was recently in short supply but now appears to be in ample supply, and recent S&P Global analyst reports show an anticipated rebound in diesel demand in the second half of 2023.
S&P Global Commodity Insights' Sarah Hernandez, Americas light ends pricing manager, discusses recent trends in gasoline, aromatics and distillates with petrochemicals editor Wendy Dulaney and Americas distillates manager Jordan Daniel.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
OPEC’s kingpin Saudi Arabia has slashed its crude output by a further 1 million b/d in July, bringing the alliance’s total cuts to 4.7 million b/d in the month, or about 5% of global capacity. But with Asia’s crude import mix evolving since the Russia-Ukraine conflict, S&P Global Commodity Insights’ Asia Oil Editor Neo Rong Wei spoke with Asia Oil News Managing Editor Philip Vahn and China Analyst Oceana Zhou about the impacts of these cuts, as well as factors affecting Asia’s crude demand.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Related Platts price assessments:
AAYEE00 - FOB Singapore 92 RON Gasoline crack spread vs M2 Dubai Swap
AAHCF00 - FOB Singapore gasoil crack spread vs Dubai swap
AAHCM00 - FOB Singapore Jet fuel/Kerosens crack spread vs M2 Dubai Swap
Explore the details of the Energy Asia Conference here. CERAWeek by S&P Global is a knowledge partner for the conference.
The war in Ukraine has created a new set of trade flows, as many buyers look to avoid Russian commodities. What are European buyers doing to replace Russian crude oil, and how have these changed flows upturned the markets?
In the latest Oil Markets podcast, London-based crude oil price reporters Luke Stuart, George Delaney, and Sam Angell discuss with Joel Hanley how oil from Brazil, Iraq, and the US is helping fill the gap.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Related price symbols:
AAWVI00 - Urals Primorsk vs Med Dtd Strip
PCAAS00 - Dated Brent
WMCRB00 – WTI Midland CIF Rotterdam
AAGXN00 – Qua Iboe
AAGXT00 – Cabinda
And explore more crude grades on our Periodic Table of Oil, an interactive with all the key information on region of origin, price, trade volumes, sulfur content, viscosity, carbon intensity, trade flows and benchmarks.
Canada's crude production has been reduced in recent weeks by wildfires in Alberta, tightening price discounts for some Canadian crude grades. While the bulk of output has returned, and longer-term output is expected to rise 500,000 b/d by 2030, high development costs are threatening that outlook, with Equinor announcing a delay of its Bay du Nord project.
S&P Global Commodity Insights' Jeff Mower, director of Americas oil news, discusses these market conditions and their impacts with Americas crude pricing reporter Julia Pecha and Calgary correspondent Ashok Dutta.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
More and more ships are turning off their transponders in the Black Sea in risky but lucrative trades. Deep discounts on Russia's main export crude, Urals, and refined products such as gasoil and diesel, are attracting strong market interest. And dark shipping in "no man's land" now appears to be another option for those willing to play the markets.
In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Max Lin, Luke Stuart and Natasha Tan join Joel Hanley to discuss Russia's new attempts to break through Western sanctions.
We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz
Related price symbols: AAWVI00 - Urals Primorsk vs Med Dtd Strip AAYWS00 - Gasoil 0.1%S CIF NWE Cargo AAVBG00 - ULSD 10ppmS CIF NWE Cargo
Related content by our speakers on this episode: Russia behind 225% spike in shadowy oil transfers at sea Infographic: Russia drives global spike in dark STS transfers Russia's Urals shines as crude export volumes grow in May
As Asian oil demand recovery shows signs of sustaining the strong momentum, there were two key questions that's keeping refiners on tenterhooks -- if purchasing Russian crude would increasingly get tougher following the recent pledge by G7 leaders to ensure stricter policy enforcement. And secondly, if OPEC and its allies would aim for further cuts as prices have climbed down to relatively modest levels. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Kang Wu, Head of Global Demand and Asia Analytics, Herman Wang, Associate Editorial News Director for the Middle East and Europe, and Paul Sheldon, Chief Geopolitical Advisor -- share their insights on Russian flows, the future strategy of OPEC+ and other key issues that could potentially alter the oil supply landscape.
Nigerian President Muhammadu Buhari is due to inaugurate the 650,000 b/d refinery on 22 May. But after many years of delays, and with the project running $11 billion over its original $9 billion production cost target, many traders are questioning whether the project is really ready. In this episode of the Platts Oil Markets podcast, S&P Global Oil news reporter Charlie Mitchell and Gasoline editor Matthew Tracey-Cook join Joel Hanley to discuss what the market should expect from this colossal refinery that could change Nigeria’s fortunes.
Further reading, by speaker Charlie Mitchel: Long-awaited Dangote refinery set to shake up WAF crude, products flows
Related price assessments: Gasoline FOB NWE West Africa Cargo - AAKUV00 Crude Oil Cabinda FOB Angola vs Angola Dtd Strip - AAGXT00 Crude Oil Bonny Light FOB Nigeria London vs WAF Dtd Strip - AAGXL00
This year, the US, alongside G7 countries, placed a price cap on Russian-grade refined product at $100/b. This marked another set of sanctions designed to shrink Russia's influence on global oil markets. Following the Feb. 5 price cap, disruptions have been seen in both the clean tanker market and the Americas diesel market.
In this Oil Markets episode, S&P Global Commodity Insights' shipping, diesel, and Latin America refined products experts Eugenia Romero, Jordan Daniel and Maria Jimenez Moya sit down to discuss the current landscape and recent changes to these trade flows.
Related prices:
Clean USGC-Brazil 38kt (TCAFQ00)
ULSD USGC prompt pipeline (AATGY00)
ULSD USGC export (AAXRV00)
As of May 2, 2023, Platts incorporated US WTI Midland crude oil into Platts Dated Brent and related benchmark assessments. This is the first-ever inclusion of a non-North Sea grade and is expected to boost the liquidity of the world’s most important physical crude oil leading benchmark assessment.
In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights crude oil managers John Morley and Emma Kettley discuss with Joel Hanley the scope of the change and the implications of this momentous development.
Learn more: Methodology and Specifications Guide, Europe and Africa Crude Oil FAQ: Platts WTI Midland’s inclusion into the Brent complex Infographic: Brent benchmark gets major boost from US crude
Contact us: platts_oil_feedback@spglobal.com
One of the largest crude importers globally, China had seen demand plummet amid the pandemic, although it has been showing signs of recovery – with better-than-expected economic growth and record-high production in Q1 2023.
S&P Global Commodity Insights Asia Oil Editor Neo Rong Wei discussed with Analyst Oceana Zhou and Asia Oil News Managing Editor Philip Vahn the outlook for oil in the region. On this episode of the Oil Markets podcast, we dive into what China’s economic recovery means for the markets, and how Asia’s outlook on oil may change amid a regional economic downturn.
Related Platts price assessments: AAYEE00 - FOB Singapore 92 RON Gasoline crack spread vs M2 Dubai Swap AAHCF00 - FOB Singapore gasoil crack spread vs Dubai swap AAHCM00 - FOB Singapore Jet fuel/Kerosens crack spread vs M2 Dubai Swap
Italy’s Eni has been one of the most successful drillers in Mexico. One of many E&P companies active in Mexico’s upstream auctions following the country’s 2013-2014 liberalization, Eni was the first independent to produce in Mexican waters in 2019. Most recently, Eni announced a 200 million boe discovery at the Yatzil well in the Salina sub-basin, and has just been given approval to drill another offshore exploration well.
Jeff Mower, director of Americas oil news, and Sheky Espejo, Mexico energy correspondent, discuss what Eni’s success means for Mexico’s struggling oil output.
Register for the Middle East Petroleum & Gas conference here
The debate over the use of alternative currencies in global oil trade has intensified over the past one year following the Russia-Ukraine conflict, which has not only dramatically reshaped oil flows but also altered energy relations between producers and consumers. But there are questions as to how quickly the global trading community can embrace alternative currencies while balancing the risks associated with moving away from the US dollar.
In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, renowned commodities investor and chairman of Beeland Interests Inc. Jim Rogers, and two senior leaders at S&P Global Commodity Insights - Dave Ernsberger, Global Head of Market Reporting and Trading Solutions, and Chief Energy Strategist Atul Arya - share their views on the challenges and opportunities ahead as debate on the subject intensifies.
Increased volatility, rising prices and strained geopolitical relations. These are some of the side-effects of the latest OPEC+ production cut. Meanwhile, Platts Market on Close crude assessments fully reflect traders' sharp reaction to the surprise move amid uncertainty in various oil grades.
In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Rosemary Griffin, Sam Angell and Luke Stuart join Joel Hanley to discuss the immediate impact of the OPEC+ announcement, the decision by Russian sellers to change the way they price barrels, and potential threats to an already fragile global oil supply.
Join us at MPGC 2023! The 30th Annual Middle East Petroleum & Gas conference (MPGC) will be brought to you by S&P Global Commodity Insights, along with the host, Emirates National Oil Company (ENOC) on 22-23 May 2023 in Dubai, UAE. Registrations are open!
Related Platts price assessments: PCAAS00 - Dated Brent PCAAT00 - Dubai Mo01 (NextGen MOC) Urals FOB Primorsk Urals FOB Novo Afra AAGZS00 - Urals FOB Novo SuezDWCUA00 - Urals DAP West Coast India AAEJD00 - Kirkuk FOB Ceyhan
US fuel oil stocks in the first quarter of 2023 reached their highest levels since April 2020. Traders have had to alleviate their oversupply by exporting, though high freight rates have made profits more difficult to find.
In this Oil Markets episode, Americas fuel oil experts Beth Brown and Patrick Burns sit down with Americas shipping experts Catherine Rogers and Catherine Kellogg to discuss how traders have had to shift routes and export heavier material to find an open arbitrage.
Prices in this episode:
PUAFZ00 (USGC HSFO)
TDUCG00 (Dirty USG-UKC Aframax)
In this episode of the Platts Oil Markets podcast, Francesco Di Salvo is joined by Gary Clark, Patrick McAllister and Matthew Tracey-Cook to explore the theme of evolving standards and specifications for transport fuels in the continent reflecting on the main takeaways of ARDA Week 2023.
Price assessments discussed in this episode: FOB ARA 0.1% gasoil barges: #AAYWT00 FOB AR 10ppm premium gasoline barges: #PGABM00
Energy stakeholders from around the world gathered in Houston this week for CERAWeek by S&P Global to talk about the biggest issues and current trends in the energy industry. On the oil front, speakers and panelists highlighted permitting timelines amid record-high export crude demand, while a shift in hedging practices was seen in light of recent volatility in crude prices.
In this Oil Markets podcast, Jeff Mower sits down with Dave Ernsberger and Binish Azhar to discuss these topics and others coming out of the conference.
Register here for the World Petrochemical Conference, March 20-24
The year 2023 did not start as expected: China suddenly dropped all COVID restrictions, boosting sentiment in the global jet market, while diesel prices fell despite the ban on Russian oil product imports into the EU from 5 February. As a result, European jet fuel cracks jumped above diesel, but the spread narrowed by the end of February and the two products are now neck and neck, raising the question of which one will be maximised by refiners, thus tightening the supply of the other in the coming months.
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights experts Maxim Kotenev and Gary Clark join Francesco Di Salvo to discuss the outlook for the jet fuel market, its potential impact on other middle distillates and whether a recession is likely to prevent aviation from fully recovering from the pandemic.
Related price symbols: Diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00 Jet fuel: CIF NWE jet fuel cargoes #PJAAU00
With the European Union's ban on Russian oil products coming into effect, the spotlight is now on Asia as the market tries to find answers to the extent to which the region can absorb Russian products displaced from Europe and how Asian refiners can take advantage of the product vacuum in other regions of Europe. In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, S&P Global Commodity Insights senior experts Jonathan Nonis, Wendy Cheong and Zhuwei Wang discuss the outlook for potential changes in product flows, such as diesel, naphtha and LPG, that Asia could see, as well as the pricing, shipping and logistics challenges that could arise with long-distance product shipments.
In March, Europe is set to experience a record surge in WTI Midland crude flows from the US, as demand for American crude booms. In the latest Platts Oil Markets podcast we explore the key drivers behind this increase in demand and the push and pull factors fueling the growth in US crude exports to Europe. Join editorial director John Morley and editors David Lewis, Sam Angell, and Vinicius Maffei for valuable insights into the latest developments in the global oil market and the implications for the energy industry.
Related price assessments: WTI Midland CIF Rotterdam vs Dated Brent: WMCRB00 Naphtha CIF NWE cargo M1 crack: AAECX00 Gasoline Eurobob 10ppm FOB ARA barge crack: ABWFL00
Oil and gas producers and service companies have been reporting their fourth-quarter earnings over the past few weeks. And, apart from the headline-grabbing record profits, we’ve seen some common themes and concerns emerge. While companies have generally been more optimistic as far as inflation and bottlenecks go, they also continue to express concerns about underinvestment. What does this mean for oil and gas production?
Jeff Mower, director of Americas oil news, is joined by senior oil editor Starr Spencer and natural gas editor Dylan Chase to discuss these issues and more.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Midland WTI (PCACJ00), Waha gas (IGBAD21) and much more.
What will replace Russian diesel and naphtha flows to Europe after EU sanctions take effect on 5 February? Where will Russian supply go instead?
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors Rowan Staden-Coats and Vinicius Maffei join Joel Hanley to discuss the expected impact of the upcoming sanctions, what uncertainties remain about replacement supply and whether Russian production will have to be cut after 5 February, and what impact this could have on global supply and prices.
Related price symbols: CIF ARA 10ppm ULSD cargoes #AAVBG00 CIF NEW naphtha cargoes #PAAAL00
The Russia-Ukraine war has dominated the attention of global commodity markets for nearly a year now. As the start date for the latest EU sanctions against Russian refined products approaches, questions about what these sanctions could mean for trade flows also grow. And while these questions often center on potential changes in US and European markets, the global impact of sanctions could also extend to other regions, such as Latin America.
S&P Global Commodity Insights’ Americas oil experts Anna Trier, Jeff Mower and Maria Jimenez Moya dive into the impacts seen from the Dec. 5 sanctions against Russian seaborne crude, and what we could expect to see in US, Europe, and Latin America markets after the Feb. 5 sanctions go into effect.
Register for the Platts London Energy Forum here
China has already hinted at its first batch of oil product export quota for 2023, which has left some market watchers nervous amid the current economic headwinds at the start of this year. In this episode, we look deeper at the implications of the oil product export quota from China, how it could impact the oil product supply-demand fundamentals in Asia, and what the rest of Asia can expect.
S&P Global Commodity Insights' experts—Oceana Zhou and Su Yeen Cheong from the Platts editorial team and Wang Zhuwei Manager, Asia oil analytics.
Related price symbols:
PGAEY00 - Gasoline Unl 92 FOB Spore Cargo PJABF00 - Jet Kero FOB Spore Cargo AAOVC00 - Gasoil .001%S (10ppm) FOB Spore Cargo POABC00 - Gasoil FOB Spore Cargo PUADV00 - FO 180 CST 3.5%S FOB Spore Cargo PPXDK00 - FO 380 CST 3.5%S FOB Spore Cargo PAAAD00 - Naphtha C+F Japan Cargo $/mt (NextGen MOC)
Natural gas supply disruptions into Europe saw both LPG and gasoil heating fuels used as substitutes in 2022 with concern over preparations for winter amid a low stocks environment. However, a mild winter thus far has kept heating fuel markets weak, limiting switching between different fuels.
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors Aly Blakeway, Patrick McAllister and Maxim Kotenev discuss with Gary Clark supply, demand and prices for European gasoil, LPG and kerosene for heating markets amid a mild winter, and ahead of sanctions on Russian oil product exports into the European Union from February 5.
Price assessments on Platts Dimensions Pro:
- Platts Propane CIF NWE Large Cargo: #PMABA00
- Platts Gasoil 0.1%S CIF NWE Cargo: #AAYWS00
- Platts Jet CIF NWE Cargo: #PJAAU00
In this special episode of the Platts Oil Markets podcast, S&P Global Commodity Insights leaders Joel Hanley, Sambit Mohanty and Richard Swann round up the events of 2022. From the war in Ukraine to renewed Chinese lockdowns, the team looks at disrupted trade flows and the renewed challenges for supply and demand in a volatile world.
Also check out:
Platts Capitol Crude podcast
With the European Union ban on Russian seaborne crude imports and the price cap of $60 a barrel taking effect, the spotlight is now on China and India as the market tries to assess to what extent top Asian buyers can absorb the additional displaced barrels from Europe.
In this podcast, Sambit Mohanty, Asia Energy Editor, discusses with Calvin Lee, Asia head of content, Alice Niu, China head of content and Pulkit Agarwal, India head of content, the implications of the $60/b price cap for Asian buyers, the impact of the decision of OPEC and its allies to keep their policy unchanged, and China's oil consumption outlook amid easing of pandemic-related restrictions.
Related infographic: G7 price cap hangs over Russian oil flows
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering crude oil.
Click here to listen to the Capitol Crude podcast series.
The development of Mexico’s upstream oil sector has slowed since President Lopez Obrador was elected in 2018, as Lopez Obrador halted the upstream auctions put in place by the liberalization process that started in 2013. However, several companies were able to get their foot in the door, and as a result production from the private sector is expected to edge higher in coming years.
Sheky Espejo, S&P Global Commodity Insights’ Mexico energy correspondent, joins Jeff Mower, director of Americas oil news, to discuss this trend.
Related assessments:
AAYMP00 – Maya market parity price
AAXWA00 – CIF Eastern Mexico gasoline
With longer-haul voyages and the ‘dark fleet’ growing, tight freight availability is pushing shipping rates to fresh highs. What does strong shipping market mean for the crude competing to replace Russian flows?S&P Global Commodity Insights reporters George Papageorgiou, Sam Angell, and George Delaney discuss with Joel Hanley the spike in rates and the effect on oil from the Mediterranean and Africa.
Related stories:
Soaring tanker freight depresses FOB differentials for Med, West African crudes
FEATURE: Growing maritime risks as shadow tanker fleet expands to cover Russian trades
Related price assessments:
AAGXN00 - Qua Iboe FOB Nigeria vs WAF Dtd Strip
AAGXJ00 - Urals Rotterdam vs Med Dtd Strip
TDACS00 - West Africa-UKC 260kt $/mt
TDACR00 - West Africa-UKC 130kt $/mt
TDABL00 - Ceyhan-Med 80kt $/mt
The tug-of-war between Asia and Europe for sourcing oil is set to intensify as the European Union's ban on Russian seaborne crude inches closer. From Middle East to Africa, suppliers are already feeling the pressure of how to split supplies between different regions.
In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, S&P Global Commodity Insights' experts--Andy Critchlow, Head of News for Europe, Middle East and Africa, Paul Sheldon, Chief Geopolitical Advisor, and Kang Wu, Head of Global Oil Demand and Asia Analytics--share their insights on some of the biggest challenges the market may face after sanctions are imposed, the strategy of OPEC+ and the hurdles in making the G7 price cap work.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering crude oil.
Related content: Energy Security Sentinel
In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Robert Perkins, Virginie Malicier and David Lewis discuss with John Morley what has already changed in the oil markets since February 24 and the expected impact of upcoming sanctions, from the ban on exports of Russian crude oil to Europe and the US for any loading after December 5, to the ban on exports of oil products into Europe from Feb. 5 and the shipping insurance ban from December as well.
Related price assessments:
- Non-Russian diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00
- Diesel including Russian origin: CIF ARA 10ppm ULSD “all origins” cargoes #ALORA00
- Dated Brent: #PCAAS00
- Russian crude oil: Urals CIF NWE #AAGXJ00
- New assessment of Kazakh origin Urals (started on Nov. 1): CIF Med KEBCO #KBCOA00
The US Gulf Coast crude market is exporting record volumes while also seeing sky-high freight rates. This dynamic has been playing out consistently for the past few months, but how are these exports continuing to move in such great volumes despite this major headwind?
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights crude and shipping experts Laura Huchzermeyer, Kristian Tialios and Catherine Kellogg discuss the factors that are contributing to these high freight rates and how they are impacting US Gulf Coast exports.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts AGS (AGSAA00), 130kt Suezmax Brazil-UK Continent (ABRKB00), 270kt USGC-China (TDUCB00) and much more.
The US Gulf Coast crude market is exporting record volumes while also seeing sky-high freight rates. This dynamic has been playing out consistently for the past few months, but how are these exports continuing to move in such great volumes despite this major headwind?
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights crude and shipping experts Laura Huchzermeyer, Kristian Tialios and Catherine Kellogg discuss the factors that are contributing to these high freight rates and how they are impacting US Gulf Coast exports.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts AGS (AGSAA00), 130kt Suezmax Brazil-UK Continent (ABRKB00), 270kt USGC-China (TDUCB00) and much more.
What role will oil play in mitigating Europe's natural gas problem this winter? With energy costs skyrocketing since the start of the Russian-Ukraine war, industries and households across the continent have been looking across the barrel for practical alternatives to natural gas.
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights associate editors Aly Blakeway and Patrick McAllister explore with Francesco Di Salvo to what degree LPG and gasoil may be utilized in the short-term to replace natural gas.
LPG: CIF ARA large propane cargoes PMABA00
LPG barges: FOB ARA propane barges PMAAS00
0.1% gasoil: FOB 0.1% gasoil barges AAYWT00
ULSD: FOB ARA 10ppm diesel barges AAJUS00
What role will oil play in mitigating Europe's natural gas problem this winter? With energy costs skyrocketing since the start of the Russian-Ukraine war, industries and households across the continent have been looking across the barrel for practical alternatives to natural gas.
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights associate editors Aly Blakeway and Patrick McAllister explore with Francesco Di Salvo to what degree LPG and gasoil may be utilized in the short-term to replace natural gas.
LPG: CIF ARA large propane cargoes PMABA00
LPG barges: FOB ARA propane barges PMAAS00
0.1% gasoil: FOB 0.1% gasoil barges AAYWT00
ULSD: FOB ARA 10ppm diesel barges AAJUS00
Oil product market sentiment in Asia has been volatile due to the larger-than-expected Q4 exports from China. The uncertainty saw the region’s best-performing product crack for the year -- ULSD -- falling by a record 30% in just two trading sessions in the first half of September. As trading sentiment slowly recovers, the Asian oil market has to adjust to the expected increase in oil products from China over the next few months amid gloomy macroeconomic scenario. In a discussion, S&P Global Commodity Insights' experts Jonathan Nonis, Oceana Zhou, Su Yeen Cheong, and Zhuwei Wang talk about the impact of China’s Q4 oil products export this late in the year and what it means going forward. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.
Oil product market sentiment in Asia has been volatile due to the larger-than-expected Q4 exports from China. The uncertainty saw the region’s best-performing product crack for the year -- ULSD -- falling by a record 30% in just two trading sessions in the first half of September. As trading sentiment slowly recovers, the Asian oil market has to adjust to the expected increase in oil products from China over the next few months amid gloomy macroeconomic scenario. In a discussion, S&P Global Commodity Insights' experts Jonathan Nonis, Oceana Zhou, Su Yeen Cheong, and Zhuwei Wang talk about the impact of China’s Q4 oil products export this late in the year and what it means going forward. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.
The gasoline and diesel markets in Northwest Europe have tightened as France seeks alternative sources of supply due to strike at five of the country’s six refineries. Though negotiations are ongoing at ExxonMobil and TotalEnergies, and strike action might stop soon, supply disruptions are expected to continue at least for a few weeks.
In this bonus episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights senior editors Virginie Malicier and Elza Turner discuss with Francesco Di Salvo why these social movements had such an impact on road fuel prices.
This week's episode: It's been a perfect storm for Midwest gasoline supply
Related price symbols:
PCAAS00 - Dated Brent
AAJUS00 - ULSD 10ppmS FOB ARA Barge
ABXGT00 - ULSD 10ppm CIF NWE basis Le Havre Cargo Eur cents/liter
AARIN00 - ICE LS Gasoil at London MOC Mo01 (NextGen MOC)
AARIO00 - ICE LS Gasoil at London MOC Mo02 (NextGen MOC)
The gasoline and diesel markets in Northwest Europe have tightened as France seeks alternative sources of supply due to strike at five of the country’s six refineries. Though negotiations are ongoing at ExxonMobil and TotalEnergies, and strike action might stop soon, supply disruptions are expected to continue at least for a few weeks.
In this bonus episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights senior editors Virginie Malicier and Elza Turner discuss with Francesco Di Salvo why these social movements had such an impact on road fuel prices.
This week's episode: It's been a perfect storm for Midwest gasoline supply
Related price symbols:
PCAAS00 - Dated Brent
AAJUS00 - ULSD 10ppmS FOB ARA Barge
ABXGT00 - ULSD 10ppm CIF NWE basis Le Havre Cargo Eur cents/liter
AARIN00 - ICE LS Gasoil at London MOC Mo01 (NextGen MOC)
AARIO00 - ICE LS Gasoil at London MOC Mo02 (NextGen MOC)
Though summer driving season is already in the rearview mirror, gasoline differentials in the US Midwest and West Coast apparently haven't gotten the memo. A flurry of planned and unplanned refinery outages in both regions have pressured already-tight supply dynamics as the rest of the world scrambles to secure gasoline supply.
S&P Global Commodity Insights gasoline reporter Anna Trier speaks with Debnil Chowdhury, Americas Head of Refining and Marketing at SPGCI, about how refinery issues catapulted Chicago gasoline differentials to all-time highs and what relief, if any, is on the horizon for Midwest production.
Though summer driving season is already in the rearview mirror, gasoline differentials in the US Midwest and West Coast apparently haven't gotten the memo. A flurry of planned and unplanned refinery outages in both regions have pressured already-tight supply dynamics as the rest of the world scrambles to secure gasoline supply.
S&P Global Commodity Insights gasoline reporter Anna Trier speaks with Debnil Chowdhury, Americas Head of Refining and Marketing at SPGCI, about how refinery issues catapulted Chicago gasoline differentials to all-time highs and what relief, if any, is on the horizon for Midwest production.
S&P Global Commodity Insights senior leaders Richard Swann and Dave Ernsberger discuss with Joel Hanley the issues highlighted by Singapore’s APPEC event, the first fully in-person edition of Asia’s leading oil forum in two years. Topics for under discussion included energy security, OPEC+ cuts, the price cap on Russian oil, Chinese quotas, and more, showing once again how this important event helps shape the energy conversation.
Related price assessment: Dated Brent: PCAAS00
S&P Global Commodity Insights senior leaders Richard Swann and Dave Ernsberger discuss with Joel Hanley the issues highlighted by Singapore’s APPEC event, the first fully in-person edition of Asia’s leading oil forum in two years. Topics for under discussion included energy security, OPEC+ cuts, the price cap on Russian oil, Chinese quotas, and more, showing once again how this important event helps shape the energy conversation.
Related price assessment: Dated Brent: PCAAS00
The strength seen across European and African crude oil markets in the spring and summer has largely been eroded as focus shifts to the potential demand reduction caused by economic slowdowns. There are some potential headwinds on the horizon that could shift this more bearish picture however, with multiple supply disruptions hitting the North Sea, Mediterranean, and West Africa.
In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors David Lewis and Sam Angell join John Morley to discuss the latest news shaping European crude markets.
Price assessments discussed in this episode:
- Dated Brent outright price (PCAAS00)
- CPC Blend vs forward Dated Brent (AAHPL00)
- WAF Index vs forward Dated Brent (AWAFB00)
The path to recovery for Asian oil demand has not been free of challenges. With a worse than expected consumption outlook in China due to pandemic-induced lockdowns, markets are looking for answers on whether gains in Asia, excluding China, will be strong enough to offset the bearish consumption outlook in the region's biggest oil consumer.
In a wide-ranging discussion ahead of APPEC 2022, S&P Global Commodity Insights' experts--Dave Ernsberger, Head of Market Reporting and Trading Solutions, Rosemary Griffin, Russia Managing Editor and Zhuwei Wang, Asian Oil Analytics Manager-- discuss with Sambit Mohanty, Asia Energy Editor, the possibility of Asian oil demand returning to pre-pandemic levels in 2022, the outlook for Russian oil flows to the region, and the energy security versus energy sustainability debate.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.
With the energy crisis looming over Europe, many industries fear they will have to reduce production, including petrochemical crackers. These consumers of feedstocks such as naphtha and LPG are sensitive not only to high natural gas prices but also to a lower demand outlook for plastic goods amid economic downturn and inflationary pressures.
In this Oil Markets episode, S&P Global Commodity Insights editors Vinicius Maffei and Aly Blakeway explore with Francesco Di Salvo the impact of these pressures on European naphtha and LPG markets.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering naphtha (PAAAL00), LPG (PMABA00), and much more.
Record-low stock levels in US diesel markets could signal problems for the highly liquid product. Dry weather has dampened crop projections, and long-term backwardation has stifled diesel storage and movement between regions in the US.
Associate refined products director Matthew Kohlman and diesel pricing specialist Wendy Dulaney discuss seasonal trends in ULSD as fall approaches.
EU sanctions on Russian fuel oil have dramatically altered supply flows for high sulfur material within Europe, and while there is some trading activity still in the Mediterranean basin, most Russian fuel oil is heading to Singapore and elsewhere in the East. While weaker demand has offset a lack of supply within Europe for now, market uncertainty remains high with the question of where Europe will get its imports from in the future open.
In this episode of the Oil Markets Podcast, S&P Global Commodity Insights editors Mary Tiernan and Chloe Davies discuss with John Morley sanctions and market dynamics for high sulfur fuel oil and VGO in Europe.
China has been stepping up efforts to tighten supervision and standardize operations of its refining sector. It launched a series of investigations on refineries beginning April 2021. The latest round of inspections this month will focus mainly on tax issues, as small-scale private refiners often fail to fulfill their tax obligations in an attempt to stay competitive.
In this podcast, S&P Global Commodity Insights' experts Philip Vahn, Asia oil market managing editor and Oceana Zhou and Daisy Xu, senior analysts covering China market discuss Beijing's latest tax investigation and its impact on independent refineries' future operations.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.
Record low water levels are hindering the transportation of naphtha, LPG, gasoline blending components and diesel, amongst other commodities, along the Rhine into regions of Germany, France and Switzerland leading to critically low inland stocks and the release of strategic reserves for products already affected by the war in Ukraine and a rebound in transportation demand.
In this episode of the Oil Markets Podcast, S&P Global Platts Global editors Eklavya Gupte, Virginie Malicier and Vinicius Maffei discuss with Gary Clark the market implications of strained supply chains for clean oil products for Europe.
Price symbols on clean oil products discussed in this episode:
- Naphtha FOB ARA barges - PAAAM00
- Gasoline Eurobob FOB ARA barges - AAQZV00
- Diesel 10ppm FOB ARA barges - AAJUS00
Even after US gasoline prices reached historic highs during the coronavirus pandemic, they somehow found more room to rise in 2022 after Russia invaded Ukraine. Strong demand and a lack of imports into the US Atlantic Coast resulted in unprecedented interest to ship barrels on Colonial Pipeline. The only problem? It wasn't enough.
Light ends manager Andrea Salazar and US gasoline reporters Anna Trier and Jordan Daniel discuss how gasoline prices have fared in this tight market and whether prices are seeing any relief.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Gulf Coast CBOB (AARQU00), New York Harbor barge RBOB (AAMGV00), and much more.
The days of vaccine certificates and COVID-19 tests for travel are long gone for most, and yet jet fuel demand doesn’t seem to have fully recovered from the pandemic. S&P Global Commodity Insights reporters Virginie Malicier and Maxim Kotenev tell Francesco Di Salvo how record-high physical premiums have led to a flurry of eastern cargoes sailing to Europe, and how short-staffed airlines and airports have had to cap passenger capacity growth despite ample pent-up travel appetite.
Check our Jet CIF NWE Cargo assessment (PJAAU00) on Platts Dimensions Pro: https://platform.platts.spglobal.com/web/client?auth=inherit&ignoreIDMContext=1#platts/priceprofile?symbol=PJAAU00
Based on early consumption trends in Asia, market participants believe that the second half of 2022 may turn out to be one of the strongest six-month periods of oil demand growth seen over the past three years.
That said, some pockets in China are still facing lockdowns due to the COVID-19 pandemic and high oil prices are threatening to pull down demand in other consuming nations.
In this podcast, S&P Global Commodity Insights' experts Calvin Lee, Asia head of content, and Kang Wu, head of global demand and Asia analytics discuss with Sambit Mohanty, Asia energy editor the potential top themes for Asian oil markets in the second half of 2022.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Jet Kero FOB Spore Cargo (PJABF00), Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.
In Europe, with a hot summer ongoing and a cold winter expected, re-establishing secure sources of energy in light of Russia’s war in Ukraine is a top priority.
S&P Global Commodity Insights reporters Shivani Pandya and Sasha Foss speak with crude oil director Joel Hanley about plans to address the crunch in European natural gas supply, and how a return to oil-fired power generation is not as simple as some might suggest.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering the front-month TTF natural gas benchmark (GTFTM01), European fuel oil (AAYWT00), and much more.
S&P Global Commodity Insights recently made the decision to reflect WTI Midland barrels in the daily Platts Dated Brent global crude benchmark. See the note here.
Americas crude oil managing editor Laura Huchzermeyer speaks with Emma Kettley, global lead of the Brent complex, and Kristian Tialios, US Gulf Coast crude specialist, about what the market can expect from the inclusion of one of the top-produced US crude grades into the world’s most influential crude pricing benchmarks.
Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Dated Brent (PCAAS00), WTI Midland (AAYBA00), and much more.
Russia has long supplied European and US markets with fuel oil. In light of the war in Ukraine, where is this fuel going and how can the usual buyers make up the shortfall?
S&P Global Commodity Insights reporters David Petutschnig and Chloe Davies discuss with Joel Hanley how the dynamics of high sulfur fuel oil and vacuum gasoil are changing fast.
Access our special report Inside Fujairah: http://plts.co/ngU530snBMP
Demand for transportation fuels has been picking up in Asia, as higher vaccination rates and improved mobility push regional economies to open up to near pre-pandemic levels. Global oil supplies, however, are not keeping pace with this recovering demand. China's move to inject more fuel supplies into the Asian market by way of a supplementary second round of oil products export quotas in early June is unlikely to help improve regional demand-supply balances. Moreover, China's oil product exports in 2022 are likely to fall from 2021 levels as Beijing aims to minimize outflows to meet its net-zero target.
Refining margins for clean transportation fuels like gasoil, jet/kerosene and gasoline skyrocketed to historical highs earlier this month. Even as cracks have inched lower since, expectations are these valuations will stay elevated in the foreseeable future.
In this podcast, S&P Global Commodity Insights' Rajesh Nair, Su Yeen Cheong, Oceana Zhou and Zhuwei Wang shed light on the current situation and discuss the scenarios that are likely to play out in the Asian clean fuels markets in the near to medium term.
In this episode of the Oil Markets Podcast, senior editor Emma Kettley and associate editor David Lewis discuss with Paul Hickin the recent changes in crude flows and how Russian crude finds its way in new markets. Our experts explain the changing trade patterns in Europe where participants shun Russian barrels, which surprisingly didn’t prevent Urals exports to reach three-year highs in May.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
In this episode of the Oil Markets Podcast, light ends pricing editors Sarah Hernandez and Jordan Daniel and Americas clean products manager Matthew Kohlman discuss the record-high gasoline prices that are impacting drivers across the US. They discuss historically low inventories, how a shortage of octanes is driving up prices for premium grades, what the outlook is for gasoline demand, and prices through the rest of the summer.
This Oil Markets podcast was produced by Jennifer Pedrick in Houston.
In this episode of the Oil Markets Podcast, associate editors Stepan Lavrouk, Lawrence Toye and Kelly Norways discuss with John Morley the impact of the Russia-Ukraine conflict on the fuel oil and bunker markets. Our experts explore the tightness in the VLSFO market and the way refineries and buyers are adapting to the new market fundamentals, where many companies avoid Russian product while others benefit from discounted prices.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
Asian gasoil and gasoline cracks have surged in May, amid the war between Russia and Ukraine that started in late February. Asian refineries are looking to raise run rates or delay their planned maintenance this spring to meet the demand.
In this podcast, S&P Global Commodity Insights' experts—Jonathan Nonis, Reetika Porwaland Joshua Ongfrom the Platts pricing team and JY Lim,advisor for Asia-Pacific oil markets -- discuss the contributing factors and the future trajectory of the markets.
The recent round of Q1 earnings calls for US refiners and upstream producers were almost unanimously upbeat. Crude prices of $100+/b oil and unusually high natural gas prices, coupled with changing oil flows from the war in Ukraine, have sparked buoyant US diesel demand while the need for energy security has led to a climbing rig count in both the domestic shale patch and more offshore projects.
Americas oil news director Jeff Mower sits down with senior downstream editor Janet McGurty and senior upstream editor Starr Spencer to discuss recent trends and future outlooks for US producers and refiners.
This Oil Markets podcast was produced by Jennifer Pedrick in Houston.
In the background of the pandemic, IMO 2020 was reshaping the landscape of traditional marine fuels. Now, more than two years since the pandemic began, the US Gulf Coast 0.5%S market has established new standards for supplying this fuel. It came with unique blending challenges. The USGC HSFO market has also taken on a new life as a secondary option as a marine fuel.
In this Oil Markets podcast, S&P Global Commodity Insights' Beth Brown and Patrick Burns discuss the recent decision to eliminate hand blends from trades reported in the Platts Market on Close assessment process in the US and how trading in these markets has evolved.
This Oil Markets podcast was produced by Jennifer Pedrick in Houston.
From the maximization of middle distillates yields by refiners to the impact of Chinese lockdowns on the Asia petrochemical sector, our editors explore the implication for European gasoline's blending margins.
In this episode of the Oil Markets podcast, EMEA refined products associate editorial director Francesco Di Salvo speaks with gasoline editor Lucy Brown and naphtha editor Vinicius Maffei about the reasons for the record spread between gasoline and naphtha in Northwest Europe, a key measure of blending economics.
This Oil Markets podcast was produced by Jennifer Pedrick in Houston.
The global fuel oil supply chain has in the recent past been impacted by tight product availability due to the war in Ukraine and the subsequent restrictions on Russian oil purchases.
The Asian fuel oil market, which accounts for roughly half of the global marine fuel demand, has been severely stretched too. One of the most harrowing incidents of fuel contamination in recent history at the world's largest bunkering hub Singapore has only exacerbated the tight supply situation.
Not surprisingly then, the Asian fuel oil market participants have been closely monitoring the evolving demand-supply dynamic in China, a major producer-supplier of marine fuel. They are tracking not only the impact from oil demand loss, but also, how it may potentially sway the government's decision on the timing and quantum of the second round of fuel oil export quota.
In this podcast, S&P Global Commodity Insights' Rajesh Nair, Atsuko Kawasaki and Zhuwei Wang discuss the various scenarios that are likely to play out and its impact on the Asian fuel oil market.
What exactly defines the origin of an oil product? How is self-sanctioning affecting Russian diesel and gasoil exports? And how is Russian-origin diesel being treated in the spot market? In this episode of the Oil Markets Podcast, Richard Swann, S&P Global Commodity Insights’ Director for clean refined products, discusses with Francesco Di Salvo, Associate Editorial Director for European refined products, the question of origin of diesel imported into Europe and the different approaches taken by oil majors and trading companies to handle Russian-origin oil products.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
In the ever-evolving crude market, the dearth of crude from Iran, Venezuela and, most recently, Russia, has led Asian refiners to buy up tight supplies of heavy Latin grades as a replacement. Buying interest for these grades from Mexico, Colombia and Ecuador has been reported in recent months, but availability is limited and a surge in supply from the US could send the market spinning yet again.
Americas crude manager Laura Huchzermeyer leads the discussion with Maria Eugenia Garcia, senior editor for Latin American crude, Pankaj Rao, editor for Asian and Middle East crude markets, and Dania el Saadi, senior editor of Middle East News.
In this episode of the Oil Markets Podcast, S&P Global Commodity Insights editors Paul Hickin, Emma Kettley, and Sam Angell discuss with Joel Hanley the possible return of balance in the oil markets. The fear factor of the Ukrainian war has created high prices and volatility, but are they waning now that renewed supply is entering the market?
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
Asia’s sustained oil demand revival over the last few months may face a fresh setback following COVID-19 outbreaks in China and other countries in the region. While sharp pull back in consumption appears remote at this stage, markets are keenly watching if Asia’s top oil consuming nations resort to more lockdowns to stem the spread of the pandemic. In this podcast, S&P Global Commodity Insights' Sambit Mohanty, Jonathan Nonis and J.Y. Lim discuss the possibility of another round of oil products demand destruction, Asia's crude buying strategy amid fears of a demand slowdown, and the impact on trade flows.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
As global oil markets continue to react in real time to the ongoing conflict in Europe, downstream sectors and interconnected industries are also beginning to see marked impacts on trade flows, fundamentals and most notably spot pricing. Long a key refining and import/export hub for the Western Hemisphere, the US Gulf Coast has seen swift reactions from logistics operations and energy majors as the region deals with a lack of Russian imports amid sanctions.
Americas shipping manager Barbara Troner and dirty products manager Patrick Burns speak with clean tanker editor Eugenia Romero and US bunkers editor Phillipe Craig to break down how spot pricing for freight rates and marine fuels has reacted, and what those key segments can expect going forward.
Europe's high sulfur fuel oil requirements largely depend on exports from Russia. In this episode of the Oil Markets Podcast, S&P Global Commodity Insights reporters Stepan Lavrouk, Mary tiernan and David Petutschnig discuss with Joel Hanley the impact of the war in Ukraine on not just fuel oil, but also bunker fuel and vacuum gasoil.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
Oil markets – and others – are seeing record prices and intense volatility as Russia’s invasion of its neighbor continues. S&P Global Commodity Insights reporters Rosemary Griffin, Elza Turner, and Rowan Staden-Coats discuss with Joel Hanley what the war in Ukraine means for prices, trade flows, and the refineries of Europe.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
Russia’s invasion of Ukraine has stalled oil supplies to refiners in Asia as buyers remain wary of the fallout of the widespread sanctions imposed on Moscow. Though demand for oil and products continues to grow in the region, buyers are left grappling with stunted supplies and rising crude prices. In this podcast, S&P Global Commodity Insights’ Ada Taib, Pankaj Rao, Fred Wang and Vickey Du talk about the impact of the conflict on the Dubai pricing benchmark, Russian Far East crude differentials and the buying patterns of Asian refiners. They also delve into the surge in shipping freight costs and how the potential return of Iranian crude could impact oil supplies.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
When the outbreak of the COVID-19 pandemic decimated global oil demand and pulled down prices to their lows in 2020, not many would have believed that just two years down the road, crude oil would be again climbing to $100 a barrel. In a wide-ranging discussion with Sambit Mohanty, Asia Energy Editor at S&P Global Platts, Jim Rogers, Chairman of Beeland Interests, Inc., Rosemary Griffin, Managing Editor for Russia at Platts, and Kang Wu, Head of Global Demand and Asia Analytics at Platts, share their insights on the resiliency of Asian oil demand recovery, the risk to prices and trade flows from Russia-Ukraine tensions, the potential return of Iranian oil, as well as the implications of surging oil prices on energy transition efforts.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
Europe's sweet/sour crude price spread has widened on strong distillate demand and caution over Russian barrels. Platts reporters Emma Kettley and Iain Stevenson give an update on the soaring strength in light, sweet crude. Also, Jonty Rushforth and Joel Hanley discuss the Feb 14 launch of Platts proposed next steps for the Brent benchmark, like the inclusion of US WTI Midland crude.
Subscriber note: Platts proposes to reflect WTI Midland in Dated Brent, Cash BFOE from June 2023, keeps Brent assessments on an FOB basis
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
While not always at the forefront of the market, low RVP, high octane blendstocks such as alkylate and reformate are necessary blending components which can drive price movements and influence supply and demand dynamics - particularly ahead of the summer specs transition.
Shea McCord, Sarah Hernandez, and Anna Trier of the US Light Ends team sit down to discuss recent supply dynamics in the US octanes markets, and the impact those dynamics could have on building summer inventories and premium grades blending.
Tell us more about your podcast preferences so we can keep improving our shows. Take our two-minute survey here: https://bit.ly/plattspod22
While diplomatic talks between the US and Russia continue, questions are raised about what consequences, if any, would new economic sanctions have on Russia’s ample exports of crude oil and diesel to Europe.
In this episode of the Oil Markets Podcast, S&P Global Platts editors Rowan Staden-Coats and David Lewis discuss with Rosemary Griffin and Francesco Di Salvo the state of play between Russia and the West and how big of a supply shock could sanctions cause to the international oil markets.
There is growing optimism that 2022 will turn out to be the strongest year for Asian oil demand since the outbreak of COVID-19 more than two years ago.
With consumption patterns looking increasingly resilient in top consumers China and India, demand may finally be on a sustained upward trend after a long period of uneven growth.
But the market will be looking for answers to some key questions. Will Asia’s oil demand in 2022 rise above 2019 level despite the emergence of omicron? Can high oil prices create hurdles for demand recovery? And finally, what's in store for oil as Asia speeds up efforts to embrace the energy transition process?
In a wide-ranging discussion with S&P Global Platts Asia Energy Editor Sambit Mohanty, Global Head of Oil Markets Vera Blei and Asia Head of Content Calvin Lee share their insights on some of the top themes for Asian oil markets in 2022.
Despite falling passenger numbers, airlines are facing soaring fuel bills. S&P Global Platts reporters Virginie Malicier and Lawrence Toye discuss with Joel Hanley what’s behind the supply/demand imbalance that’s pushing jet fuel prices to fresh highs.
Looking ahead into 2022, US crude oil export flows will continue to recover and grow as demand and prices surge, but will we see export volumes return to the record levels we were seeing a couple of years ago?
S&P Global Platts US crude managing editor Laura Huchzermeyer, US Gulf Coast crude reporter Kristian Tialios, and Platts Analytics' North American oil analyst Lisa Orme discuss market trends impacting the waterborne crude oil market on the US Gulf Coast, along with the forecast for volumes in 2022.
As the world has slowly emerged from a lockdown-ridden 2020, the oil markets have had to adjust. Platts reporters from around the world discuss the fundamental highlights of the year, and take a look at what 2022 might bring. Based in Asia, the Americas, and Europe respectively, Sambit Mohanty, Richard Swann, and Joel Hanley bring insight from their regions and look at the big issues driving markets today and tomorrow.
Sustainable aviation fuel is gaining popularity among renewable fuel manufacturers. The SAF market is poised for rapid growth in the coming years as global and regional emissions programs look to decarbonize the carbon-intensive aviation sector. SAF is becoming an important initiative in many renewable diesel projects, in part of manufacturers' efforts to gain policy support, like the tax credit in the Biden administration’s Build Back Better Act. However, the market faces additional hurdles like competition for feedstocks and high production costs. Senior oil writer Janet McGurty and Americas biofuels manager Josh Pedrick talk through the emerging trends in SAF and some of the challenges facing the market.
Oil markets crashed on the emergence of the omicron variant of COVID-19, leaving market jitters and increased volatility. S&P Global Platts reporters Nick Baldwin and Virginie Malicier discuss with Joel Hanley the reaction and prospects in crude oil and jet fuel, two of the most pandemic-sensitive markets in the oil world.
The Asian jet fuel market is finally witnessing renewed interest after COVID-19 unleashed an unprecedented crisis in the aviation industry. Heightened vaccination rates in many Asian countries, relaxation of zero-COVID tolerance policies by many countries, and the introduction of vaccinated travel lanes by various nations has boosted jet fuel prospects. The optimism around air travel bodes well for jet fuel demand and prices. Yet, the threat of the pandemic still lingers.
With aviation's environmental impact also in focus, many Asian airlines are forging ahead with the use of sustainable aviation fuel.
In a discussion with S&P Global Platts Senior Editor for Petroleum News Surabhi Sahu, Head of global demand and Asia analytics Dr Kang Wu and Associate Editor Oil markets Amy Tan share their insights into what the future holds for the jet fuel market and the feasibility of the widespread adoption of sustainable aviation fuels.
The strong backwardation in diesel and gasoline forward pricing is reflective of a tight fundamental picture for road fuels in Europe as demand steadily rises and refineries grapple with high crude feedstock and running costs as natural gas prices soar, curtailing supply. Amid this market tightness, inventories continue to draw as the opportunity cost of storage rises, reducing supply buffers. At the same time, refiner hedging is exacerbating the strength in calendar time spreads.
In this episode of the Oil Markets Podcast, S&P Global Platts Global editors Rowan Staden-Coats and Lucy Brown discuss with Joel Hanley backwardation and what it means for road fuel markets in Europe.
Demand to ship gasoline on Colonial Pipeline has outpaced available space since October, a first in 19 months. The Atlantic Coast has seen higher demand, and imports are low. The spread between offline gasoline prices at the end of Line 1 in Greensboro, North Carolina, and prices at the origin in Houston, Texas, have reached their widest seasonal level in the last three years. In the meantime, Gulf Coast shippers are paying a premium to ship their barrels as soon as possible.
In this episode of the Oil Markets Podcast, S&P Global Platts gasoline editors Anna Trier and Sarah Hernandez discuss why this is happening and what the impact is on gasoline prices in the Gulf and Atlantic Coast regions.
The continued strength in the Brent complex as a whole, demonstrated by the Dated Brent benchmark breaching the $85/b threshold in late October, masks the differing supply and demand dynamics for both sweet and sour grades in Europe, arguably low global stock levels, selective refinery demand and declining official selling prices or OSPs by National Oil Companies. With OPEC+ set to meet on Nov. 4, how will these producers react to a mixed physical picture amid diplomatic pressure to pump more?
In this episode of the Oil Markets Podcast, S&P Global Platts Global Brent lead Emma Kettley and Head of Oil News in London Paul Hickin discuss with Joel Hanley the most recent trends in the North Sea crude complex and its effect on important regional crude spreads ahead of the key OPEC+ meeting.
In a shift of strategy to battle surging oil prices, Asia's leading oil consumers India and China have started selling crude oil from their strategic reserves for the first time ever, a sign that import-dependent countries in the region are opening up to the idea of using oil reserves not only at times of geopolitical uncertainty and supply risk, but also as a cushion to ward off financial risk.
Beijing held its first state auctions in September, while Indian Strategic Petroleum Reserves has also started selling crude oil to state refiners.
In a wide-ranging discussion with S&P Global Platts Asia Energy Editor Sambit Mohanty, Asia Head of Content Calvin Lee, and Platts Analytics Chief Geopolitical Advisor Paul Sheldon share their insights on how Asian oil importers are working towards balancing rewards with risk, as well as the implications of those decisions on global oil markets.
High natural gas prices are leading to both a tighter European supply of middle distillates and greater global gasoil demand, while the diesel cargo market was supported by higher demand into Germany and an open arbitrage to the US. In the meantime, jet fuel demand is slowly recovering, the paper market is flying amid bullish market sentiment with aviation fuel consumption expected to pick up from November when the US lifts its travel ban.
In this episode of the Oil Markets Podcast, S&P Global Platts associate editors Virginie Malicier and Gary Clark discuss with Francesco Di Salvo the most recent trends in European diesel, heating and jet fuel markets.
Car tanks may be running empty in the UK after panic buying at the pumps amid a lack of lorry drivers to bring supply from refineries and oil terminals to the retail stations, but what impact if any does this have on the broader gasoline and diesel markets? And what are the consequences of the replacement of E5 gasoline pumps by E10 pumps in the country?
In this episode of the Oil Markets Podcast, S&P Global Platts associate editors Rowan Staden-Coats and Joseph McDonnell discuss with Joel Hanley the most recent trends in the overall well-supplied UK gasoline and diesel markets.
The dramatic revival of oil and gas prices, the future of fossil fuels in a changing energy landscape, and the role energy will play in the recovery path from the pandemic were some of the main themes at the 37th Asia Pacific Petroleum Conference -- or APPEC 2021 -- organized by S&P Global Platts.
In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, Global Head of Pricing and Market Insight Dave Ernsbergerand Head of Global Demand and Asia Analytics Dr. Kang Wushare their views on the changing narrative for the oil market, the impact of energy transition on Asia's energy basket, the future of refining, and the road to demand and price recovery.
Access our latest special report: Igniting the spark of energy transition
Just as the summer finally comes to an end and mornings become chilly, we would be expecting demand for heating oil to ramp up in Europe, as no boom has been reported yet. Furthermore, new environmental regulation will be applied in many European countries in 2022, which could lead to some changes in buying patterns.
In this episode of the Oil Markets Podcast, S&P Global Platts associate editor Lawrence Toye and senior editor Virginie Malicier discuss with Gary Clark how higher flat prices and upcoming tax change are impacting current demand for 50ppm, 0.1% gasoil and kerosene.
In this episode of the Oil Markets Podcast, S&P Global associate editor Lawrence Toye and senior editor Virginie Malicier discuss with Gary Clark how higher flat prices and upcoming tax change are impacting current demand for 50ppm, 0.1% gasoil and kerosene.
The IEA may have revised down their oil demand estimates for the third quarter of this year, but looking further ahead both OPEC and IEA expect demand to bounce back despite fear of potential new lockdowns and new variants. As for Brent crude, the current pressure on prices could soon cease amid a strong improvement in refinery margins.
In this episode of the Oil Markets Podcast, S&P Global senior editors Robert Perkins and Emma Kettley discuss with Eklavya Gupte what is currently holding back Brent prices and when is global oil demand expected to recover.
Scrubber's uptick in the marine sector amid a favorable Hi-5 spread along with demand for high sulfur fuel oil for power consumption in Asia is helping HSFO retain its sheen.
In Singapore, the world's largest bunkering port, January-July HSFO sales jumped 33.7% on the year, while many other ports in Asia such as India and Sri Lanka are seeing a marked rise in HSFO inquiries.
In the power sector, high global gas and LNG prices have incentivized switching of gas to oil, where applicable.
S&P Global Platts’ Dr. Kang Wu, head of global demand and Asia Analytics, and Rajesh Nair, managing editor for Asia residual fuels, discuss high sulfur fuels oils and their evolving role in the market with Surabhi Sahu, senior editor for petroleum news.
It's been quite the week in energy markets, as Hurricane Ida hit the Louisiana coast, causing damage, power outages and destruction to the regular supply of oil and other projects in and around the region.
The US Gulf Coast is built to deal with hurricanes like this, but each storm is unique, and what is impacted for how long disruptions persist factor into how the oil industry reacts.
S&P Global Platts editors discuss storm damage, power outages and disruptions and how oil prices have reacted in the days following the storm.
Asia is witnessing signs of rising mobility, improving the demand outlook for transportation fuels. It has also raised hopes for a sustained oil products demand revival in the region after a long period of weak consumption growth.
S&P Global Platts Senior Asia Energy Editor Sambit Mohanty, Global Director for Oil Products Richard Swann, Associate Editorial Director for Refined Products Jonathan Nonis, and S&P Global Ratings Asia-Pacific Economist Vishrut Rana examine whether the resurgence of COVID-19 in Southeast and Northeast Asia and rising oil prices could act as hurdles and derail the fragile oil demand revival and economic recovery in the region.
Related event: APPEC 2021
All eyes are on supply in European diesel markets, where demand has remained relatively stable at almost back to pre-pandemic levels, but due to the spread of the Delta variant in Asia more cargoes are making their way to Europe and elsewhere. In both the diesel and gasoline Mediterranean markets, prices are strong due to good demand and some supply tightness, while the gasoline Europe to US arbitrage has been firmly open during the summer driving season.
In this episode of the Oil Markets Podcast, S&P Global Platts diesel reporter Rowan Staden-Coats and gasoline reporter Joseph McDonnell discuss with Gary Clark the latest dynamics in the European road fuel markets and how they are being impacted by other regions of the world.
An alphabet soup of changes have impacted US light end markets in the last year, including changes in environmental rules that have readjusted the entire RBOB market.
S&P Global Platts editors Sarah Hernandez and Matt Kohlman look at the forces shaping the market.
On July 29, the oil product tanker Mercer Street was victim of a deadly drone attack, while a few days later another tanker, the Asphalt Princess, was reportedly hijacked. Both incidents are adding to heightened tensions in the Middle East, which remains a critical region for global oil supply.
What impact are these incidents having on freight and oil markets at the time when COVID-19 is still weighing on global oil demand?
In this episode of the Oil Markets Podcast, S&P Global Platts Senior Editor Eklavya Gupte and Associate Editorial Director of EMEA Clean Refined Products Francesco Di Salvo discuss the latest drama unfolding in the Middle East.
China, Asia's biggest oil consumer, saw its January to June crude oil imports post negative growth for the first time in eight years, pulled down by sharp falls in May and June inflows. But there are expectations that the commissioning of new refining capacity would create incremental demand for cargoes.
In a wide-ranging discussion with S&P Global Platts Senior Asia Energy Editor, Sambit Mohanty, Platts Global Head of Oil Pricing Vera Blei and Platts Analytics Global Head of Oil Demand Kang Wu share their views on the key global and domestic factors - including OPEC+ decision to ease quota limits and the potential return of Iranian barrels - that could influence the outlook on China's imports in the second half of the year and in 2022.
Cash differentials for jet fuel barges trading in ARA reached 17-month highs mid-July. At the same time, the European Commission announced sweeping proposals to make flying greener, including a future tax on jet fuel. How far is the jet market from a complete recovery from the COVID-19 pandemic and what will the EC’s “Fit for 55” plan mean for the aviation sector and the jet fuel market?
In this episode of the Oil Markets Podcast, S&P Global Platts senior jet fuel editor Virginie Malicier and middle distillates editor Christopher Ewen discuss with Gary Clark the latest dynamics in the European jet fuel market and the potential impact of the EU Green Deal on future jet demand.
Against a backdrop of growing Coronavirus infections and OPEC+ discord, oil prices keep rising. How can long-haul crude cargoes stay competitive as backwardation in the forward curve widens and puts pressure on Asia-bound oil from West Africa and Europe?
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Emma Kettley and Nick Baldwin discuss with Joel Hanley why a stronger backwardation is boosting certain crude grades while hitting others.
It's been a tumultuous stretch for Canadian crude as the coronavirus pandemic and infrastructure uncertainty have impacted the market.
However, prices have risen to a level that supports higher production and increased takeaway capacity may provide differentials some uplift.
S&P Global Platts editor Patrick Harrington discusses Canada's crude prices, infrastructure and politics.
Gasoline prices are rallying on underlying demand strength in Europe, West Africa and across the Atlantic, while diesel prices remain steady amid stagnant demand and an abundance of supply as jet fuel continues to be blended into the middle distillates pool, despite slowly rising flight demand.
In this episode of the S&P Global Platts Oil Markets Podcast, reporters Evridiki Dimitriadou, Rowan Staden-Coats and Christopher Ewen discuss with Francesco Di Salvo the latest trends on the vital transportation fuel markets.
In a fast-changing landscape where energy transition is the most popular catch phrase, the trading community is looking for answers on what’s in store for the oil market over the next decade.
Ravinder Kumar Malhotra, Director General of the Federation of Indian Petroleum Industry, and Dave Ernsberger, Global Head of Pricing and Market Insight at S&P Global Platts, join Sambit Mohanty, Senior Asia Energy Editor at Platts, to exchange views on the potential growth of low-carbon oil flows and the influence of carbon pricing on oil markets. They also discuss the importance of sustained investment in oil projects in order to ensure plentiful supplies in the years to come.
While demand for tankers of clean and dirty oil products has yet to recover fully from the pandemic, prices of bunker fuels have been rising to 16-month highs, thus threatening the profitability of the shipping industry and making shipowners less willing to offer a certain number of loss-making routes.
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Britt Russell-Webster and Chris To discuss with Tamara Sleiman the reasons behind the bullishness in crude oil futures.
Gasoline imports into the US Atlantic Coast have surged to record highs in recent months.
Andrea Salazar and Anna Trier of S&P Global Platts look at what has been driving the flurry of imports -- from the recent Colonial Pipeline cyberattack to a winter storm that impacted the Gulf Coast -- and how long that is expected to last.
While the pandemic is far from over and coronavirus cases are still rising in some Asian countries, the front-month Brent crude futures breached on June 1 the $70/barrel ceiling and extended the rise the next day. From OPEC’s optimistic demand forecasts to uncertainty over Iran’s production, caution seems to dominate the medium-term, and the longer-term role of energy transition may not be as bearish for prices as one might think.
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Nicholas Baldwin and Eklavya Gupte discuss with Joel Hanley the reasons behind the bullishness in crude oil futures.
China on May 14 announced that it will implement a consumption tax on mixed aromatics, light cycle oil and bitumen blend from June 12 in an effort to close a loophole in its tax system. This tax is expected to have repercussions not only in the domestic market, but also in the regional refined products market and crude markets.
Mixed aromatics and light cycle oil or LCO are used as blend stocks in gasoline and gasoil, and bitumen blend is used as a feedstock by independent refiners.
The tax is expected to alter domestic supply-demand balances, regional trade flows, and types of crudes imported into China.
While the May 7 outage of the Colonial Pipeline prompted fears of fuel shortages on the US Atlantic Coast, it also led to talk of extra gasoline and diesel moving from Europe. But with COVID restrictions easing on both sides of the Atlantic, there are longer-term drivers at play.
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Rowan Staden-Coats and Allen Reed discuss with Joel Hanley the latest trends on these vital road fuel markets.
Global crude prices have staged an impressive rally, recovering to pre-COVID levels. However, many US Gulf Coast crude differentials and regional spreads are yet to normalize, raising the question if the 2020 demand shock and ongoing infrastructure buildout will have a permanent impact on relative prices.
S&P Global Platts Americas Crude Managing Editor Laura Huchzermeyer discusses recent price trends on the Gulf Coast and the Platts AGS waterborne crude assessment with Senior Pricing Specialist Kristian Tialios and Associate Director Matt Eversman.
While the European jet fuel market has yet to recover from the pandemic and continues to trade at low cash premiums, will demand for aviation fuel be boosted by the upcoming easing of travel restrictions within Europe and the potential resumption of non-essential trans-Atlantic flights?
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Virginie Malicier and Thomas Washington discuss with Gary Clark the latest news on the travel front and their expected consequences for the jet market.
The astronomical surge in India's COVID-19 cases to record highs has baffled policymakers and overwhelmed the country’s medical infrastructure. The current spread of infection has raised concerns that a crisis of unprecedented magnitude would take a toll on oil demand. S&P Global Platts Senior Asia Energy Editor Sambit Mohanty talks to Rajat Kapoor, Managing Director for Oil and Gas at AWR Lloyd, and Chris Midgley, Global Head of Analytics at Platts, to unpack the factors that are affecting India's oil demand growth, and the implications this would have on the global oil market as well as OPEC's production strategy.
While the European gasoline market has been increasing strengthening versus its middle distillates counterpart, weighed down by COVID-19 restrictions in Europe, this has in turn led to a growing divergence between prices of low-sulfur and high-sulfur vacuum gasoil on the old continent.
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Stepan Lavrouk and Joseph Mcdonnell discuss with Joel Hanley how a lack of gasoline on the others side of the Atlantic impacts which VGO European refiners prefer to use.
Soybean futures continue to support RVO prices as the US market awaits a Supreme Court decision to determine the future of small refinery exemptions.
European exports continue to head toward the East Coast on improved gasoline cracks and market optimism, pressuring New York Harbor prices lower.
Gulf Coast prices have spiked to three-year highs as refineries stabilize operations.
While the grounding of the Ever Given in the Suez Canal has created countless memes, it has also reminded the world on the fragility of supply chains.
In this episode of the Oil Markets Podcast, S&P Global Platts reporters Charlotte Bucchioni and Britt Russell-Webster discuss with Joel Hanley the impact of the blockage on freight and fuel markets, as well as the outlook as the queue slowly clears.
Major airlines in Asia have identified sustainable aviation fuel as having a potential to make a significant contribution to the global goal of reducing carbon emissions from commercial aviation. But the industry faces many challenges to overcome before SAF's potential can be realized. The impact of the coronavirus pandemic on the travel industry is on top of this list.
S&P Global Platts oil experts Philip Vahn, Surabhi Sahu and Jing Zhi Ng are joined by senior analyst Alexander Yap to discuss Asia's cleaner aviation fuel initiative, Asia's overall jet fuel market fundamentals, and what's in store for the aviation industry post-pandemic.
Learn more: S&P Global Platts Launches SAF and & HVO values in Asia
Explore now: The Platts Atlas of Energy Transition, your map to the sustainable commodity markets of the future
The market for low sulfur fuel oils – 0.1% S and 0.5% S – has tightened on the refinery response to COVID-19, while as a result of IMO 2020, lackluster demand for 3.5% S is encouraging shippers to fit scrubbers which could flip fundamentals between the grades in the future. Meanwhile, a recent cold weather spell in Asia drew fuel oil supplies away from Europe, further adding to price volatility to those fuels at the bottom of the barrel. S&P Global Platts fuel oil specialists Stepan Lavrouk, Sarah-Jane Flaws and Britt Russel-Webster discuss the market with Joel Hanley.
Rising prices and a failed trucker strike last month have rocked the Brazilian diesel market this year.
Petrobras, Brazil’s state-owned oil company, has raised fuel prices several times this year after pressure from independent importers, angering consumers and trucking unions.
Petrobras' CEO was recently ousted by Brazilian President Jair Bolsonaro, all while Petrobras sells off eight of its 13 refineries.
Explore now: The Platts Atlas of Energy Transition, your map to the sustainable commodity markets of the future
With oil prices reaching 13-month highs, surprising many market analysts, are these higher levels here to stay and how might they impact production levels of OPEC+ in the coming year?
In this edition, S&P Global Platts Associate Editorial Director John Morley discusses the current crude fundamentals and expectations with Senior Editor Eklavya Gupte and North Sea Crude Editor Emma Kettley.
Middle Eastern crude producers are sending fewer cargoes to Asia, but refiners in the region are unfazed. S&P Global Platts Head of News for Asia Mriganka Jaipuriyar, Editor Mark Tan, and Adviser for Asia Oil Analytics JY Lim examine Asia's current refining landscape, the impact of the Myanmar coup on supply, and refiners' strategies to manage an unwanted buildup in stocks.
Related event: 8th Asian Refining Virtual Summit
Bad weather on the US Gulf Coast and a rise in crude oil prices has added to volatility in the European naphtha paper market -- belying more balanced physical fundamentals -- while export demand for European gasoline has shot up.
S&P Global Platts reporters Evridiki Dimitriadou and Joseph McDonnel discuss the market with Francesco Di Salvo.
For fuel oil markets, 2020 was a strange year, as the global pandemic overshadowed implementation of the landmark IMO 2020 regulation.
With global demand slowly returning, these grades are back in focus.
S&P Global Platts editors Beth Brown and Patrick Burns talk with Matt Eversman, associate director of crude and fuel oil markets, about fuel oil market trends as well as Platts’ consultation on certain operational guidelines in the Platts Market on Close assessment process for .5% marine fuel.
The price of aviation fuel dropped to record lows at the start of the coronavirus pandemic. In this podcast, Platts reporters Emma Thomas and Chris Ewen tell Joel Hanley of the fuel’s faltering steps back to a more normal market environment amid the ongoing threat of COVID-19.
The last few weeks saw temperatures in many parts of North Asia drop to record lows, and energy prices hit record highs. Platts JKM, the benchmark for Asian spot LNG prices, surged to $32.50/MMBtu, the highest since it was launched in early 2009. LNG freight rates hit unprecedented levels of nearly $300,000/day, trucked LNG in China rose to around $28/MMBtu, Japan's spot electricity prices hit 220 Yen/kWh, and the Platts Northeast Asian Thermal coal price hit $80/mt.
The ripple effect was felt across a variety of power generation fuels and across the whole region as supply chains were disrupted. Utilities found themselves having to shift back to fuels that have been becoming rather obsolete in the region's power mix. S&P Global Platts Senior AnalystAndre Lambine, Senior Editor Takeo Kumagai, and Managing Editor Rajesh Nair join Content Lead Eric Yep to delve deep in to the latest in Asia's oil and power sectors.
As most refined products struggle to find demand through the pandemic’s destruction, naphtha has found itself riding on a three-year high crack spread, supported by petrochemical demand.
S&P Global Platts Associate Editorial Director Francesco Di Salvo discusses the unusual strength in naphtha prices with pricing reporters Evridiki Dimitriadou and Joe Mcdonnell, as well as the limitations for the feedstock following pressure from gasoline blending.
US NGLs have strengthened across the board early in 2021, with some of those gains tied to increases in West Texas Intermediate and others linked in robust demand from the petrochemical sector and other global markets.
LPG editor MK Bower discusses what is driving pricing strength for propane and butane, how ethane is recovering from the demand destruction wrought during hurricane season, and why market participants are confounded by natural gasoline and its relative strength against crude.
As the major road freight fuel for Europe and beyond, how has diesel coped with the global pandemic and what are its prospects heading into the new year? Platts reporters Virginie Malicier and Rowan Staden-Coats discuss the diesel markets with Joel Hanley.
As 2020 finally draws to a close, Oil Markets Podcast hosts from around the world – Mriganka Jaipuriyar, Joel Hanley and Richard Swann – gather to discuss the year in detail, and try to chart a path to recovery in 2021.
It has been a big year for the US flagship crude, West Texas Intermediate, and in particular the way that grade is priced.
Following significant growth of US crude exports before the pandemic and then the April 20 price collapse of the NYMEX WTI contract, S&P Global Platts launched its AGS assessment for
waterborne cargoes of WTI Midland loading on the US Gulf Coast.
Then just last week, Platts captured the global oil industry’s attention with its proposal to include WTI Midland in the Dated Brent global benchmark beginning in March 2022.
In today's podcast we'll review how Platts AGS has performed since its launch in June amid challenging fundamentals for global oil markets.
With so much US crude now coming to Europe, Platts has announced a proposal to include US WTI Midland into the North Sea benchmark of Dated Brent. Jonty Rushforth and Joel Hanley discuss how this might work and what it means for the world’s leading oil benchmark.
The pandemic has pummeled Japan's oil demand and led to some dramatic drops in its crude imports and refinery runs. The onset of winter and subsequent rise in demand for heating oil has offset some of that collapse, but the road ahead continues to look uncertain, S&P Global Platts Asia oil market experts Takeo Kumagai, Daisuke Shibata and Mriganka Jaipuriyar discuss. While crude imports are expected to pick up in the near term, sustainability of that trend very much depends on the severity of COVID-19. What is looking certain however is that Japanese refiners will continue to import refined products as refining economics favor imports and run rates remain low.
Full transcript: http://plts.co/rmqs30rmlb2
Jet fuel took center stage at the recent International Air Transport Association Fuel Forum, as the industry grapples with the demand destruction due to air travel restrictions, but also paves the way for a clear decarbonisation agenda. Jet fuel and derivatives editors Emma Thomas and Christopher Ewen join Francesco Di Salvo to reflect on the key takeaways from the event and the impact on the markets for conventional and sustainable aviation fuels.
Diesel prices across the US soared last week, reaching multiyear highs in nearly every region. The aftermath of several hurricanes this year curtailed production, and perhaps shut some refineries for good. That, combined with strong agriculture demand, created a perfect storm for strong spot market prices.
As coronavirus cases rise sharply in Europe, many countries are entering into second lockdowns to curb the spread of the virus – but are the markets prepared for a potential second round of curtailed demand?
S&P Global Platts reporters Chris Ewen, Kieran Hess and Sarah-Jane Flaws discuss with Joel Hanley the state of refined products and the challenges ahead for transportation fuels.
China's GDP grew by 4.9% the third quarter, putting the country's economy back on an expansionary track. China is one of the very few countries to register a positive growth amid the COVID-19 pandemic. Against this backdrop, S&P Global Platts Head of News in Asia Mriganka Jaipuriyar, senior oil writer Oceana Zhou, and Head of Global Demand and Asia Analytics Dr. Kang Wu examine China's prospects in a world that continues to face an immense oil demand destruction, forecasts of peak oil demand amid a decarbonization drive across the globe, and the implications the US elections might have on China's near to medium term growth.
Despite demand for some refined products returning to pre-COVID levels, refinery margins in Europe have remained at all-time lows, leading to a bottleneck in the upstream market.
S&P Global Platts editors Solomon Lanitis and Elza Turner discuss with Joel Hanley falling demand for crude oil in Europe, the building inventories of floating storage, and the health and prospects for the refinery sector.
For the first time, the African Refiners and Distributors Week was held virtually in the week commencing Oct. 5, discussing the challenges of the downstream sector in the region, but also the strong signs of resilience in the continent in the midst of the Coronavirus pandemic.
Platts editors Eklavya Gupte, Joseph Mcdonnell and Virginie Malicier discuss with Francesco Di Salvo key takeaways from the conference as well as the latest views on oil fundamentals in the continent.
With global demand destruction and COVID-19 continuing to impact US production, the expected trajectory of US crude exports is vastly different than just a few months ago. Before the pandemic, S&P Global Platts Analytics expected US crude exports to end 2020 at a run rate of nearly 4 million b/d, rising past 6 million b/d by the mid-2020s, but with demand loss for now putting a cap on WTI at about $40/b, Analytics now expects exports to fall below 2 million b/d by mid-2021.
S&P Global Platts editors Laura Huchzermeyer, Kristian Tialios and Matt Eversman look at the factors affecting US crude exports.
The COVID-19 pandemic continues to create interesting opportunities; one of the more surprising is seeing kerosene finding its way into marine fuel. Platts reporters Sarah-Jane Flaws and Gary Clark discuss with Joel Hanley how a once-premium product has mingled with shipping fuel.
Fresh from the recent Asia Pacific Petroleum Conference or Platts APPEC, Gawoon Phil Vahn and Surabhi Sahu join Mriganka Jaipuriyar to share key themes and insights discussed at the event, which brought together - virtually - the who's who in the oil industry.
This episode takes a deep dive into the impact of the current fragile demand environment on the region's refining industry, the strategies being deployed by major companies to fight against weak refining margins as the coronavirus pandemic continues to affect oil product demand, as well as the big push for energy transition and the pressure on the aviation industry to cut emissions.
US Gulf Coast market players looking to get light naphtha barrels off their hands, a hungry Asian market and weakened freight is the perfect arbitrage recipe. But with shipowners reluctant to move their ships East, where the freight market is weak, the balance has been delicate.
Sarah Raslan, US naphtha editor, and Marieke Alsguth, US clean tankers editor, chat with Americas Oil Markets Editorial Director Director Richard Swann to dissect the ingredients that have set the table for this arbitrage opportunity.
There is rising supply for European diesel and while demand is recovering it is still short of last year’s levels, the pronounced contango this is prompting comes when many clean tankers are choosing to stay in the region, meaning the stars are aligning for floating storage. Middle distillates expert Virginie Malicier and clean tanker specialist Chris To tell Joel Hanley the latest.
Russia’s slashing of crude output is well documented, but how are its internal markets coping with the impact of COVID-19?
Joel Hanley asks Russia experts Elza Turner and Thomas Washington what the energy superpower can do to stem volatility at home.
Light sulfur fuel oil has been the main marine fuel of choice worldwide, but high sulfur fuel oil has held its stead in Asia. S&P Global Platts senior oil experts Surabhi Sahu and Oceana Zhou join Platts Asia Head of News Mriganka Jaipuriyar in examining the demand for HSFO particularly in Singapore, which is the world's largest bunkering port. They also discuss China's fuel demand and outlook, as well as the impact of the coronavirus pandemic on the Asian fuel oil markets.
COVID-19 may have caused demand for jet fuel to plummet but S&P Global Platts and the wider industry are looking to the future with a newly launched European sustainable aviation fuel assessment, as public scrutiny keeps emissions targets in sight. Middles distillates specialists Gary Clark, Christopher Ewen and Harry Morton tell Joel Hanley how this fits in with wider trends across the middle of the barrel.
As European road transport demand gradually recovers amid the coronavirus pandemic, the price of gasoline blending component ethanol has reached all-time highs on tight supply, rising road demand and strong industrial use. Unusually, the prices of other blending components are down in the doldrums. S&P Global Platts reporters Chrysa Glystra, Joseph McDonnell and Stergios Zacharakis tell Gary Clark the latest.
OPEC and its allies are loosening the reins around production cuts amid tentative signs of an oil demand recovery, which is likely to bring additional heavier sourer barrels back on to the market. Gillian Carr and Paul Hickin discuss with Joel Hanley how this could play out in the months ahead.
While the rest of the world is still on a relatively slow recovery phase, China's crude imports and throughput levels are hitting record highs. Its GDP has flipped back to positive territory with a 3.2% growth the second quarter, from a 6.9% decline in the first quarter. S&P Global Platts oil experts Oceana Zhou and Mark Tan talk about the facts behind these historical highs and the impact they could have on Asia's still fragile oil markets.
As Europe emerges from its COVID-19 lockdown, diesel demand is flickering back to life. But can the same be said for gasoil? S&P Global Platts reporters Virginie Malicier and Harry Morton discuss with Joel Hanley how European distillate markets have reacted to the Coronavirus pandemic, and the prospects for a swift recovery.
Storm clouds still lurk over the refining sector as a combination of firm heavy crude prices and limited upside to light product prices squeeze margins for simple and complex installations alike, even as a rapid demand recovery in some countries has taken markets by surprise. Refining expert Elza Turner tells Joel Hanley the latest.
The American crude benchmark NYMEX WTI went negative in April, an event that sparked global questions of ‘How?’ and ‘Why?’ Now, the US crude industry is looking to the future, with Platts American GulfCoast Select touted as an alternative yardstick against which crudes from Canada down to Argentina could be measured. Platts US crude market experts Matt Eversman and Laura Huchzermeyer speak with John-Laurent Tronche about the recent past, present and future of US crude pricing.
The closure for maintenance of the salt caverns at Lavera on the French Mediterranean coast poses some questions for the region’s LPG market, especially that of butane. LPG reporter Kieran Hess discusses with Joel Hanley how the Mediterranean market is responding to the closure in the midst of coronavirus and arbitrage links with other regions.
Asia's high volume of US crude imports in the first half 2020 could prove a false alarm for OPEC+ producers fretting over their shrinking share of the Asian demand pie following the coronavirus pandemic. S&P Global Platts oil editors Surabhi Sahu and Gawoon Philip Vahn discuss Asia's crude appetite for the second half of 2020 and how several refiners in the region planning their crude purchases for the months ahead as WTI increasingly proves much more expensive than Middle Eastern grades.
Turbulence in oil markets and shifting regulation has led to some surprising dynamics at the bottom of the barrel.
Following S&P Global Platts’ European Bunker Fuel Virtual Conference, fuel oil reporters Sarah-Jane Flaws, James Goldburn and Britt Russell-Webster discuss how expectations have panned out for fuel oil and refinery feedstocks with Platts Associate Director EMEA Oil John Morley.
Rising driving demand has offered some support to the top of the barrel but, with expectations of higher demand also in evidence, higher inventories may take the shine off gasoline and naphtha recoveries, as arbitrage opportunities still look shaky. Light end reporters Joseph McDonnell and Evridiki Dimitriadou tell Francesco Di Salvo the latest.
Fuel demand across Northeast Asia plunged at the height of the coronavirus outbreak in the region over February and March. But the tide has since turned for the good in recent months. Manufacturing, construction and transportation activities are picking up fast in China with signs of the pandemic being largely contained in the country.
S&P Global Platts oil specialists Philip Vahn, Oceana Zhou and Avantika Ramesh examine oil market indicators in China and the sources that are feeding the country's renewed thirst for crude.
There are some that say the aviation sector is on life-support but industry participants are already looking to signs of recovery, with no sign of ditching previously established environmental targets, jet fuel reporters Gary Clark and Ellie Valencia tell Francesco Di Salvo.
Later in the program, Tamara Sleiman and Tom Washington discuss the outlook for bunker fuel in the latest IMO 2020 update.
Falling values for naphtha are stimulating margins for some petrochemical manufacturers, as COVID-19 sends people rushing to buy hand sanitizer and disposable plastics. Naphtha reporter Evridiki Dimitriadou and petrochemicals reporter Ora Lazic discuss the winners and losers at the top of the barrel and beyond with Joel Hanley.
In this special bonus episode of the S&P Global Platts Oil Markets podcast, Dave Ernsberger, head of pricing and market insight, discusses with Joel how commodity and energy benchmarks are faring amid the coronavirus outbreak, and Platts’ approach to dealing with recent market stress.
New fuel cell electric vehicle manufacturer Hyzon Motors has made rapid progress since forming in March, already signing an MOU with a UK partner to deliver 1,000 hydrogen fuelled buses. In this S&P Global Platts Commodities Focus podcast we talk to Hyzon's CTO, Ian Thompson, about the advantages and costs of FCEVs in buses and heavy-duty trucks compared with battery EVs, and opportunities for future growth.
The malaise in jet fuel and air traffic is grounding airmail and the outlook seems bleak for airlines as the contango in jet fuel stretches out ever further.
Jet fuel reporter Gary Clark and Middle Distillates editorial manager Eleni Pittalis tell Joel Hanley the latest.
The European diesel markets are in turmoil: demand has crashed – taking prices with it – and storage is filling up fast. Could we see a repeat of negative oil prices as we have seen in the US crude markets? In this episode, Platts editor Virginie Malicier tells Joel Hanley how diesel markets are coping in the Covid-19 pandemic. We also hear from freight reporter Charlotte Bucchioni, who gives an update on soaring shipping rates, as charterers scramble for spare tonnage.
Oil products are succumbing to record breaking lows, with jet cracks entering record-breaking and negative territory, and refineries are presented with complex decisions as a result of COVID-19. Senior refining reporter Elza Turner and middle distillate specialist Gary Clark discuss with Joel Hanley product margins and the options before refiners.
COVID-19 has crushed crude prices and is now closing North Sea oil fields. S&P Global Platts reporters Nick Coleman and Emma Kettley share their views with Joel Hanley, explaining the key logistical dependencies, and the differing impacts on Dated Brent and ICE Brent futures.
In fuel oil, Britt Russell-Webster gives an update on the Coronavirus’s role in changing bunker fundamentals, and how ship-owners might be reconsidering their scrubber options.
Nationwide lockdowns imposed by governments in the race to contain the spread of COVID-19 have in turn dampened economies and triggered severe demand destruction on refined oil products. In the latest S&P Global Platts Oil Markets podcast, our team of refined product specialists Ramthan Hussein, Mark Tan, and Wendy Cheong examine how containment measures are affecting demand for transport fuel gasoline and household fuel LPG in Asia, how prices have responded to the demand destruction, and what lies ahead, with the gradual return of Chinese industries.
With the OPEC+ agreement in tatters and COVID-19 destroying demand, the crude oil markets are in turmoil. Prices have fallen over 70% since October but is there any upside in the short term, and where can the glut go? Platts reporters Emma Kettley and Nicholas Baldwin tell Joel Hanley the latest on benchmark Dated Brent as well as the wider North Sea and West African crude oil markets.
COVID-19 has crushed demand and prices of jet fuel around the world. What can be done with all that extra jet fuel, and what are the prospects for airlines as they struggle to stay viable? S&P Global Platts reporters Gary Clark and Francesco Di Salvo discuss this challenging market with Joel Hanley.
In an extended Oil Markets podcast, we present a panel discussion on the energy transition and its impact on oil and gas companies, recorded at this year’s S&P Global Platts London Oil & Energy Forum.
The past year has seen an explosion of environmental protest, yet hydrocarbons still account for around 80% of the global energy mix. Simon Thorne, global director of power and generating fuels content, Chris Midgley, global director of analytics, and Beth Burks, ESG associate director at S&P Global Ratings, join Joel Hanley to discuss how the sector is likely to evolve amid the shift towards a more sustainable future.
For more on this subject, read our special report, Sustainability shift: Oil's future in the energy transition.
International Petroleum Week is supposed to be a week of business and parties, but what happens when a virus outbreak threatens more disruption than environmental protesters could ever have hoped for? S&P Global Platts Global Head of Oil, Vera Blei, and Dave Ernsberger, Head of Content, discuss their takeaways from a fascinating IP Week with Joel Hanley. In the IMO2020 podcast, Britt Russell-Webster and Sarah-Jane Flaws tell Tamara Sleiman of the fuel market impact of the carriage ban on high sulfur fuels.
S&P Global Platts refined oil products experts Atsuko Kawasaki, Amy Tan, and Rajesh Nair examine the rapidly changing fortunes of the Asian Marine Fuel 0.5% market, which has seen a fundamental shift since International Maritime Organization's mandate to limit sulfur in marine fuels to a maximum of 0.5% kicked off from the start of the year.
Growing environmental scrutiny upon the aviation sector is shining a light on its carbon footprint. Tune into jet fuel specialist Emma Thomas and biofuel specialist Huw Shortland as they discuss the latest developments with Platts carbon news lead Frank Watson. Later in the program, fuel oil reporters Sarah-Jane Flaws and James Goldburn discuss falling premiums for very low sulfur with Tamara Sleiman as IMO 2020 gets underway.
While oil refineries should be enjoying a relatively low crude oil price, the Covid-19 virus has hit demand in some regions. Can refiners use this time to overhaul their plants and make the most of the downturn? Elza Turner and Joel Hanley discuss the latest options for refiners and count the cost of the Coronavirus.
The 2019 Novel Coronavirus has been dominating the news agenda, with the World Health Organization, governments and OPEC scrambling to find a response. As China takes drastic action, what impact are the oil markets seeing? Giving their perspective on the West African crude oil and global jet fuel markets, S&P Global Platts reporters Nicholas Baldwin and Emma Thomas tell Joel Hanley the latest. Also, in the latest IMO 2020 special podcast, fuel reporter James Goldburn and petrochemicals specialist Lara Berton tell Tamara Sleiman how the new sulfur cap is affecting the feedstocks and propylene industries.
The start of the year sees new record premiums for Asia-Pacific crude with IMO 2020 kicking in, and amid fewer supply from Libya. But sentiment in the market could be weighed down by the coronavirus outbreak gripping commodity markets. S&P Global Platts Asia-Pacific crude oil market experts Jeslyn Lerh, Andrew Toh and Ada Taib examine the market.
As Russian President Vladimir Putin makes sweeping changes to his government, Platts Russia specialists Elza Turner and Rosemary Griffin tell Joel Hanley how these changes might affect the country’s oil production and involvement in the OPEC+ agreement (recorded earlier in the week). And in the latest update on IMO 2020, fuel reporters Rajesh Nair and Britt Russell-Webster discuss with Tamara Sleiman why bunker premiums are soaring in Asia against other parts of the world.
Price rises in the European naphtha market and growing tightness in propane are putting pressure on petrochemicals producers, who face trouble downstream from US producers sending product to Europe instead of China, as the US-China trade war remains unresolved. Platts reporters Salome Germain and Ora Lazic tell Francesco di Salvo the latest.
Pressure on availability of sour crude could be brewing amid tension in the Middle East, with the potential for US involvement in the area to result in sanctions on Iraqi exports. Platts reporters William Bland and Eklavya Gupte discuss with Joel Hanley where recent events in the region could take us in this podcast, recorded on Tuesday. Also, Seth Clare, Britt Russell-Webster and Tom Washington update Tamara Sleiman on how VLSFO and distillates are faring at the start of 2020.
With industrial action seen across many industries in France, Platts reporters Virginie Malicier and John-Laurent Tronche tell Joel Hanley of the impact on the country's refinery business and what it could mean for prices.
As the clamor for greener fuels grows ever louder, bunker players are already looking forward to the next big thing. Platts bunker reporters Jack Jordan and Tom Washington discuss with Joel Hanley the alternative fuels being eyed as replacements for oil. And in the latest IMO 2020 podcast, Tamara Sleiman talks to Britt Russell-Webster and Eleni Pittalis on the industry's final preparations ahead of the much talked about January 1 deadline.
In a rare move, Qatar Petroleum issued a tender this month that included a cargo of its Marine Crude grade. It was made even more unusual by the fact that the tender cargo was priced as a differential against Platts Dubai crude assessments. In this episode of S&P Global Platts Oil Markets podcast, editors Eesha Muneeb and Ada Taib examine how Qatar's move could potentially impact pricing of Middle Eastern crudes.
Surging popularity for 0.5% sulfur marine fuel is boosting the new fuel's cracks to twice that of refining mainstay gasoline, product reporters Tom Washington and Solomon Lanitis tell John Morley. Upstream, crude reporters Emma Kettley, William Bland and Amanda Flint update Tamara Sleiman about the widening sweet-sour crude spread.
Middle distillates have been drifting into the a softer patch on the back of frustrated expectations for IMO 2020. Amid this, arrivals of VLCCs carrying middle distillates have impacted European and African markets, middle distillates specialists Virginie Malicier and Gary Clark tell Francesco Di Salvo.
The cost of shipping refined products from Europe to West Africa has risen strongly in recent weeks, making shippers rethink their strategies. Platts reporters Chris To and Solomon Lanitis discuss with Joel Hanley how the rise in freight rates is leading to companies doing extra journeys to make...
Asian end-users faced a month of soaring crude oil prices in October after freight rates surged to record highs earlier this month. Editors Vickey Du and Avantika Ramesh look at how end-users have responded and which grades in particular have benefitted from the expensive freight.
Much is made of the new 0.5% sulfur standard in marine fuels come IMO 2020 but what of the well-established 3.5% fuel market? How are prices reacting to the upcoming changes in shipping standards? Platts reporters Tamara Sleiman and Britt Russell-Webster join Joel Hanley to discuss the short-term...
With Otto von Bismarck’s famous quote likely ringing in his ears, Saudi King Salman welcomed Russia’s President Putin this week. Oil, OPEC, and cooperation were high on the agenda, but will Putin’s visit to the Middle East prove more successful than the Saudi orchestra’s...
As trade tensions take their toll on the shipping sector, will sellers of crude oil have to slash differentials to offset the high cost of transport? And how can the owners of clean vessels capitalise on high rates? Platts reporters Emma Kettley and Chris To discuss the market with Joel Hanley in...
As the traditionally FOB-based Dated Brent benchmark starts incorporating CIF offers, S&P Global Platts senior director of price group Jonty Rushforth and EMEA crude managing editor Paula Vanlaningham discuss what this means for liquidity and the volume of information coming into the...
Saudi Arabia has said that its crude production capacity would be restored to 11 million b/d by end-September, and to the full 12 million b/d in November. Supply uncertainties, however, continue to grip the Asian market. As the impact of the attacks on Saudi Arabia's oil facilities become clearer,...
As the oil market players digested the insights from the annual APPEC meeting in Singapore, an explosive attack on critical oil infrastructure in Saudi Arabia shut in over 5% of global oil supply. Joel Hanley discusses with Eklavya Gupte and Jonty Rushforth this huge shut-in of crude oil, with...
With all of the focus on sour crudes ahead of IMO 2020, the relationship between naphtha-rich and distillate-rich barrels has attracted less attention. But increasingly, the product split in sweet crude yields has become a driving factor as refineries gear up for the new low-sulfur world. S&P...
While the US continues to count the cost of Hurricane Dorian, Europe’s refined products markets are seeing differing impacts. Joel Hanley hears from Platts reporters Solomon Lanitis and Virginie Malicier what effects a storm in the US has on European imports and exports. And in the latest IMO...
S&P Global Platts editors Ada Taib, Eesha Muneeb and Avantika Ramesh give listeners a preview of what will keep oil market participants busy at the 2019 Asia Pacific Petroleum Conference, including discussions around the impact of IMO 2020 on the Asian market, updates from Abu Dhabi's National...
IMO 2020 may be looming and the overall trajectory for sour crude such as Urals and high sulfur fuel oil is down, but with anomalous trading patterns and pockets of tightness, the high sulfur element can still show some strength. S&P Global reporters William Bland and Tamara Sleiman tell...
As trade tensions mount, US crude production continues to grow and it has to go somewhere; Europe and Asia have been accommodating homes so far but have troubles of their own. How much more crude does Europe need, and who is losing out in the US export explosion? Joel Hanley is joined by Platts...
As ethanol plays a greater role in European gasoline standards, S&P Global Platts reporters Solomon Lanitis and Joel Hanley discuss the impact of the latest evolution in the best known part of the oil barrel. Following this, Tamara Sleiman hosts another edition of the Platts IMO 2020 Special...
US crude has been gaining market share in Asia, with growing popularity in South Korea, Thailand and Taiwan. S&P Global Platts editors Avantika Ramesh and Ada Taib examine how the flow of US crude in to the region has been affecting demand for Far East Russian crude grades.
Tankers have been seized, drones downed, and warships scrambled but oil prices have barely registered the escalating tension in the Persian Gulf. S&P Global Platts reporters Robert Perkins and Emma Thomas discuss with Joel Hanley the factors keeping a lid on prices, and why values on crude oil...
Talks of closures are over for now and a clutch of run cuts at European refineries, followed by a significant outage in the US, is propping up sentiment. Refineries reporter Elza Turner tells the latest to Joel Hanley. Later in the program, Tamara Sleiman talks to Philip Reeder and Lara Berton...
The UK and Iran are facing off against one another over oil tankers and this is spooking both shippers and oil producers, with ripple effects across the markets. News reporters Jack Jordan and Miriam Malek discuss the implications with Eleni Pittalis.
The US is diversifying its sources of imports, but while this might sound dismal for European producers there is still a varied landscape of shorts out there and the outlook for producers is bullish. Francesco di Salvo talks to Solomon Lanitis and Joshua Brown. Meanwhile, on the high seas, Alex...
Singapore-based S&P Global Platts editors Eesha Muneeb and Avantika Ramesh examine the impact on prices as well as the level of concern among Asian refiners, traders and buyers, amid the geopolitical tension brewing in the Middle East, particularly after US President Donald Trump indicated a...
Production is at fresh lows and prices are following suit, but there are signs Angola is taking steps to stem the decline. Joel Hanley talks to Eklavya Gupte and Kristi Rotlaender about an expected upturn in demand for Angola’s heavy sweet crude, and China’s role as a major buyer.
With refined products such as naphtha and LPG beset by structural weakness, what are the longer term prospects for the lighter end of the barrel? S&P Global Platts Analytics’ lead petrochemicals analyst Mike McCafferty joins Joel Hanley to discuss.
Crude oil pipeline contamination in Europe has boosted gasoline cracks, which are masking a softer reality across regions. S&P Global Platts editors Eleni Pittalis, Solomon Lanitis and Tamara Sleiman discuss market dynamics on both sides of the Atlantic, as well as the product offering from...
After months near parity, the spread between high and low sulfur fuel oil has suddenly blown out. What’s behind this move and what could it mean for the feedstocks market? Eleni Pittalis and Sarah-Jane Flaws explain all to Joel Hanley.
The expiration of the US-issued Iranian sanctions waivers has now passed, leaving regular buyers of Iranian crude – and the fuel oil market – short of a regular supply line. S&P Global Platts reporters Tamara Sleiman and Eklavya Gupte tell Joel Hanley who they think the winners...
A high dose of organic chlorides in Urals crude oil has shut down European refineries and led to severe logistical and price complications. S&P Global Platts reporters Paula Vanlaningham and Robert Perkins tell Joel Hanley the latest on the scandal.
The US announced the end of all waivers from Iran oil sanctions when they expire on May 2. Ada Taib, Eesha Muneeb and Andrew Toh, S&P Global Platts editors in Asia, examine what this announcement means to crude oil buyers in the region, with China, India, and South Korea being among the biggest...
Gasoline has emerged from its recent winter doldrums but what is behind this and what can the market expect as the year wears on? S&P Global Platts staff Solomon Lanitis and Allen Reed discuss the top of the barrel with Francesco di Salvo.
As ever, the Middle East Petroleum & Gas Conference has provided plenty to talk about from currency rows to Trump tweets. Fresh from Dubai, Dave Ernsberger, S&P Global Platts global head of energy, and Vera Blei, global director of oil markets, join Joel Hanley, editorial director,...
With heavy sour crudes seeing remarkable value versus their light sweet counterparts, how are Russia’s Urals and the Europe’s fuel oil markets responding? S&P Global Platts reporters Gillian Carr and Sarah-Jane Flaws give Joel Hanley the lowdown.
Forward prices of high sulfur fuel oil are seeing understandable pressure as 2020 approaches. S&P Global Platts reporters Tamara Sleiman and Jack Jordan discuss this with Joel Hanley, as well as the possible options for bitumen producers looking for a new benchmark.
S&P Global Platts reporters Emma Kettley and Gillian Carr speak to Joel Hanley about the sudden strong buying interest in the North Sea Dated Brent crude complex, as well as the knock-on effect on grades such as Russia's Urals.
Ahead of the African Refiners’ Association conference in Cape Town, S&P Global Platts reporters Francesco Di Salvo and Eklavya Gupte tell Joel Hanley of the trends, challenges and opportunities facing the continent’s oil industry.
US crude is returning to China in small volumes, signaling growing confidence among Chinese buyers that the ongoing trade talks between China and the US will yield a favorable outcome. Sinopec most recently bought a VLCC of US crude to be delivered to China in late May, after having halted all...
S&P Global Platts Joel Hanley, Dave Ernsberger and Francesco Di Salvo discuss the highs and lows of London's International Petroleum Week. As ever, the oil industry's flagship gathering provided plenty debate on the markets, as well as talking points on environmental and diversity issues.
Azerbaijan will host the OPEC/non-OPEC joint ministerial monitoring committee meeting in Baku on March 18, pushing it into the global energy spotlight. S&P Global Platts Moscow bureau chief Nadia Rodova and oil editor Rosemary Griffin discuss the current state of Azerbaijan's energy sector and...
As traders are set to gather in London for International Petroleum Week, S&P Global Platts reporters from across the barrel tell Joel Hanley which oil stories will be heard in the meetings and parties around town. Taking in the biggest themes from crude, fuel, distillates and light ends, the...
In this edition of the podcast, S&P Global Platts Francesco Di Salvo joins editors Eklavya Gupte and Philip Reeder to discuss the lead-up to the Nigerian general election on February 16. The election pits incumbent President Muhammadu Buhari against Atiku Abubakar from the People's Democractic...
In this edition of the podcast, Joel Hanley joins S&P Global Platts reporters Herman Wang, Philip Reeder and Solomon Lanitis to discuss the fall-out from US sanctions on Venezuela. That includes potential knock-on effects for European trade flows across the barrel - from crude markets to...
Sour crude oil differentials have risen sharply relative to sweet crude grades in the Atlantic Basin as OPEC moves to cut back on production, sending the differential between the Brent and Dubai markets to its narrowest levels since 2017. In this edition of the podcast, S&P Global Platts...
S&P Global Platts editors Tamara Sleiman, Philip Reeder and Eklavya Gupte tell Joel Hanley how the inversion in fuel oil and naphtha cracks speaks of structural shortages in heavy ends and very challenging market conditions for the top of the barrel.
Platts editors Joel Hanley and Paula VanLaningham discuss the January 14 subscriber note on the inclusion of offers on a CIF Rotterdam basis into FOB Dated Brent crude oil from November 2019. What could the change mean and what's the feedback been? RELATED DETAILS Subscriber Note: Platts proposes...
The Turkish straits form the link between the Black Sea and the Mediterranean – a crucial choke point for transporting crude oil. But this year, poor weather and frequent closures in the Bosporus and Dardanelles have led to the longest shipping delays through the straits in at least 10 years....
After the recent S&P Global Platts consultation on the Dated Brent benchmark, Platts editors Robert Beaman and Paula Vanlaningham discuss with Joel Hanley the possibility of extra crude oil being delivered into the assessment.
As maritime authorities report a rising number of GPS disruptions, the scale of the digital tampering in an industry which relies heavily on the technology as a navigation tool is coming to light. In this edition of the podcast, S&P Global Platts Iain Stevenson talks with Katherine Dunn to...
S&P Global Platts reporters Virgine Malicier and Francesco Di Salvo tell Joel Hanley about soaring strength in European diesel markets brought on by the chronically shallow Rhine river. Related article (with infographic): Record low Rhine water levels continue to impact commodities
Noteworthy weakness in the European gasoline complex has weighed on light ends fundamentals in recent weeks. A culmination of heavy supply, combined with closed export arbitrage outlets, has lengthened the region and subsequently spilled over into the naphtha market where participants are already...
Despite the environmental pressure on plastics, petrochemical demand is booming. Given the link to oil via naphtha and propane, Platts reporters Philip Reeder and Lara Berton discuss with Joel Hanley the impact of weak petroleum feedstock prices and the large pethchem plant outages on the way.
The European low sulfur vacuum gasoil market has been facing bearish headwinds in recent weeks on the back of rapidly weakening gasoline cracks. S&P Global Platts EMEA fuel oil managing editor John Morley is joined by editors Tamara Sleiman and Solomon Lanitis to examine the current state of...
Shipowners have received some of the first details about the fuel they will be relying on from 2020 this week with some announcements about the new blends for use once the International Maritime Organization's sulfur limit drops to 0.5%. S&P Global Platts Jack Jordan, editorial lead for bunker...
A new swap contract has led to unprecedented transparency in Nigerian crude oil trading. S&P Global Platts senior editors Joel Hanley and Paula VanLaningham assess whether this could be a new trend, as well as discussing new assessments for US crude into Europe, and a possible quality premium...
Maintenance on secondary cracking units at the Jamnagar and Yanbu refineries is having a conflicting impact on European gasoline and Vacuum Gasoil markets. Supply of gasoline out of the units has been dented, meaning Northwest Europe is being tapped to fill the void, while demand for European VGO...
A recent spate of shipping engine failures has been traced back to a problematic cargo of bunker fuel in Houston earlier in the year. S&P Global Platts reporters Emma Kettley and Jack Jordan discuss with Joel Hanley the difficulties of policing fuel oil specifications and whether a global...
A heat wave in Europe and lack of rain are keeping the water levels of some of Europe's rivers low. For the Rhine, this means dire consequences for the shipment of oil products between the storage hub of Amsterdam-Rotterdam-Antwerp and the inland markets in Germany and Switzerland. S&P Global...
Tonnage, debt, price and credit could be explosive issues for the shipping and bunker industry going into 2020. The fallout from the International Maritime Organization's tighter fuel regulations will mean higher fuel costs and/or difficulties purchasing expensive scrubbers. S&P Global Platts...
Among shipowners looking at how to cope with tighter marine fuels sulfur limits in 2020, the use of scrubbers to clean their emissions on board has been seen as a niche solution for the past few years. But that may be starting to change – rumours abound that the technology may be finding new...
How will Asia's top buyers react to the re-imposition of US sanctions on Iran?In this podcast, S&P Global Platts editors Mriganka Jaipuriyar, Philip Vahn, and Oceana Zhou examine why China is likely to benefit the most out of the US' move, as South Korea and Japan cut back on their imports and...
S&P Global Platts light ends reporter Philip Reeder tells Joel Hanley why prices for versatile feedstock naphtha have remained strong while other refined oil products have not sustained the pace.We welcome any feedback or suggestions for topics. Contact us at webeditor@platts.com.
S&P Global Platts editors Gillian Carr and Joel Hanley discuss how differentials for Kazakhstan's CPC Blend crude oil have plummeted on heightened output and weak demand. But with production only set to increase, is there any hope for a price recovery in the short term?We welcome any feedback...
Bunker demand data for 2017 over the past month has shown Fujairah slipped behind Rotterdam in total sales last year, while both remain long behind the world leader, Singapore. Editorial director for EMEA oil Joel Hanley is joined by editorial lead for bunker news Jack Jordan for a discussion on...
After attending the African Refiners Association meeting in Cape Town, March 12-14, S&P Global Platts reporters Ahila Karan and Eklavya Gupte share their thoughts with Joel Hanley on the continent's prospects in oil refining and investment.Related contentVideo: What is the state of play for...
With Russian crude oil values in Europe slumping to multi-year lows, S&P Global Platts editors John Morley and Maude Desmarescaux discuss with Joel Hanley why sour crude has fallen out of favor and the possible knock-on effect on the North Sea Dated Brent benchmark.We welcome any feedback or...
S&P Global Platts oil news team discusses the oil and gas industry's search to redefine itself amid weak prices, rising US shale output, and growing environmental challenges.We welcome any feedback or suggestions for topics. Contact us at webeditor@platts.com.
S&P Global Platts European jet fuel editors Christopher Ewen and Caroline Knight discuss with Joel Hanley the strength in the European jet fuel market. Strong Asian winter demand, twinned with refinery maintenance, has seen cargoes stay in the region rather than head to Europe as usual.We...
S&P Global Platts crude oil editors Paula Vanlaningham and Maude Desmarescaux discuss the consequences of the December Forties Pipeline System outage on January arbitrage flows of North Sea crude to Asia. How did the market respond to this unprecedented turn of events, and what should we expect...
Saudi Arabia, with its anti-corruption purge, has been much in the headlines lately, as has kingdom's state-owned oil company, Saudi Aramco, with much speculation over its long-mooted public listing.Discussions are underway as to how best to proceed with the IPO, which the kingdom hopes will fund a...
David Elward, S&P Global Platts associate editorial director, EMEA clean refined products, and Christopher Ewen, associate editor, EMEA middle distillates, discuss the recent counter-seasonal spike in jet fuel barge prices. What caused rising jet fuel prices outside of the traditional peak...
Joel Hanley, S&P Global Platts senior director EMEA oil, and Iain Stevenson, managing editor EMEA light ends, discuss this summer's firm propane fundamentals during a time when prices would traditionally drop. Is the alternative steam cracker feedstock about to face an unconventional winter...
Hurricane Harvey affected the US oil industry from the wellhead to refinery outputs, and the sector is still showing signs of slowness after the storm pummeled the US Gulf Coast. Senior oil editors Ashok Dutta, Janet McGurty and Starr Spencer recap how Harvey brought down crude oil and natural gas...
Iraq's semi-autonomous Kurdistan raised regional tensions this week with its non-binding referendum for independence. The result, a resounding yes, was a foregone conclusion but the poll has rankled some of Kurdistan's key allies and neighbors.S&P Global Platts senior writer Robert Perkins,...
At recent shipping industry events in London, compliance with the IMO's upcoming 0.5% sulfur cap on marine fuels was a hot topic among industry representatives. S&P Global Platts editors Ned Molloy, Tom Washington and Jack Jordan discuss a recent case of non-compliance in Denmark, as well as...
As the US recovers from a devastating series of hurricanes, S&P Global Platts editors Caroline Knight and Daron Jones discuss with Joel Hanley the storms' impact on the jet fuel markets both there and in Europe.We welcome any feedback or suggestions for topics. Contact us at...
S&P Global Platts editors David Elward, Virginie Malicier, George Shaw and Marcel Goldenberg discuss the impact of Hurricanes Harvey and Irma on Europe’s refined product and crude oil markets. Gasoline exports from Europe to the US have increased, diesel flows from the US Gulf Coast to...
S&P Global Platts editors Joel Hanley and John Morley discuss the changing competition affecting North Sea crude oil, as the Brent/WTI and Brent/Dubai spreads blow out to fresh levels. Can US grades compete for European refinery share, and what of the European oil slated to go to Asia?We...
Following the July 29-31 fire and subsequent leak at Shell's Pernis refinery in the Netherlands –- the largest in Europe and a key petrochemicals hub –- S&P Global Platts editors discuss the impact of this major incident on the region's oil and petchems markets; and assess how...
S&P Global Platts refined products editors David Elward, Katherine Dunn and James Colquhoun discuss how after prolonged weakness the Northwest European naphtha complex has strengthened on stronger demand from petrochemical end users and for gasoline blending, in part switching away from rising...
S&P Global Platts crude oil editors Paula VanLaningham and Marcel Goldenberg discuss the recent uptick in differentials for the Mediterranean's light, sweet Saharan and CPC Blend and why that has not carried over into more distillate-rich Azeri Light.RELATED CONTENTSpecial report: Western...
After the latest meeting of the IMO's Marine Environment Protection Committee in London on July 3-7, S&P Global Platts editors Ned Molloy and Jack Jordan discuss what happened at the meeting and whether any clarity has emerged on how the 0.5% sulfur cap on marine fuels will be implemented in...
S&P Global Platts oil editors Paula VanLaningham and John Morley discuss the changes in North Sea crude arbitrage to Asia, with a particular focus on the role China is likely to play as trading rolls into the third quarter.RELATED CONTENTS&P Global Platts trade flow software cFlowPrice...
Saudi Arabia's King Salman has appointed his son Mohammed bin Salman as his successor, giving the young prince a free hand to carry out his ambitious economic reforms.S&P Global Platts editors Adal Mirza and Tamsin Carlisle discuss what the announcement means for the kingdom's National...
S&P Global Platts oil editors Joel Hanley, George Shaw and Chris Ewen discuss the narrowing spread between gasoline and diesel in Europe, highlighting the trends having an effect on this well-watched relationship.We welcome any feedback or suggestions for topics. Contact us at...
Joel Hanley speaks with fellow S&P Global Platts editors Amandeep Dhir, Eleni Pittalis and Elza Turner about the impact that OPEC/non-OPEC crude cuts are having on fuel oil margins.Related podcast: Sweet/sour crude spread in focus as Urals prices over CPC BlendWe welcome any feedback or...
S&P Global Platts editors Marcel Goldenberg and Ahila Karan discuss with Joel Hanley how the now-extended OPEC/non-OPEC oil output cuts are impacting gasoil and crude markets in the Mediterranean, where light, sweet crude is now at a discount to higher-sulfur oil.Related video: Despite...
In the week St Petersburg played host to the International Air Transport Association Fuel Forum, S&P Global Platts editors David Elward and Caroline Knight reflect on an expanding Russian aviation footprint, the outlook for the global airline sector and jet fuel prices, and industry efforts to...
In the inaugural episode of the S&P Global Platts OPEC Outlook podcast, Herman Wang, Platts OPEC correspondent, discusses what to watch for when the oil producer group's ministers meet on May 25 with their non-OPEC counterparts to review their production cut agreement. Ministers appear to be...
S&P Global Platts editors Joel Hanley and Jonty Rushforth discuss the key issues raised at the Platts Crude Oil Summit, from the supply/demand balance and OPEC's upcoming meeting, Asia's enigmatic demand growth, and the further evolution of crude benchmarks.We welcome any feedback or...
While the markets still try to digest the implications of the International Maritime Organisation's decision to move to a 0.5% sulfur cap for marine fuels from 2020, Platts oil products editors Joel Hanley, Ned Molloy and Eleni Pittalis discuss the visible signs of market change.We welcome any...
Iain Stevenson, managing editor for the S&P Global Platts EMEA light ends oil team, Ahila Karan and Fabian Weber, EMEA associate editors for the gasoil and gasoline markets, discuss clean product sulfur limit reductions in West Africa and the potential impact on European trade flows.We welcome...
Paula VanLaningham, managing editor for the S&P Global Platts EMEA crude oil team, Maude Desmarescaux and Marcel Goldenberg, EMEA editors for North Sea and the Urals and Mediterranean markets, discuss the growing influence of Asian buyers in the European crude markets.We welcome any feedback or...
Iran's crude oil production is close to pre-sanctions levels, according to the S&P Global Platts OPEC survey, but can the country push on further? Associate director Paul Hickin and senior editor Eklavya Gupte shed light on the diversification of Iranian crude export destinations, as it faces...
Saudi Aramco announced recently it would resume exports of refined products, including 1,000 ppm sulfur gasoil, to the Egyptian General Petroleum Corporation. Platts editors David Elward, Francesco Di Salvo and George Shaw discuss how the initial commitments have been met, in part, by lower sulfur...
S&P Global Platts editors Joel Hanley, John Morley and Marcel Goldenberg discuss the "exploding" price difference between two important crudes in North Europe -- benchmark Forties and Russia’s Urals.We welcome any feedback or suggestions for topics. Contact us at webeditor@platts.com.
S&P Global Platts editors Joel Hanley and Elza Turner discuss how Russian refinery upgrades and a rise in export duty have led to a fall in exports for fuel oil. However, one product in particular is seeing a rise in exports.We welcome any feedback or suggestions for topics. Contact us at...
Ahead of the African Refiners Association conference in Cape Town next week, Platts editors discuss Nigeria’s efforts to finalize the country’s second annual direct sale of crude oil and direct purchase of products program (DSDP) for 2017, and the region’s continued drive to adopt...
Ahead of the Platts London Oil & Energy Forum on February 20, editors David Elward and Robert Beaman join Joel Hanley for a look at the big issues in the oil markets. With matters such as OPEC’s output cut, West Africa’s clampdown on sulfur, and the new US president, there is a lot...
Once a North African OPEC powerhouse for light, sweet crude oil, Libya is now riven by civil war and disrupted oil supply. The country is trying to pull itself back into contention as a supplier of crude into the Mediterranean and beyond. S&P Global Platts editors Joel Hanley and Gillian Carr...
S&P Global Platts editors Joel Hanley and Marcel Goldenberg talk about the strength in Russia's Urals crude oil. With record crude volumes coming out of Russia, will December’s agreement with OPEC have a meaningful impact?We welcome any feedback or suggestions for topics. Contact us at...
Platts editors Joel Hanley and Amandeep Dhir discuss the current strength in low sulfur fuel oil in the Mediterranean, and the prospects for a fuel that faces an uncertain future in light of environmental regulation.We welcome any feedback or suggestions for topics. Contact us at...
Platts editors Joel Hanley and Virginie Malicier discuss the naphtha market’s strong start to 2017. As the year unfolds, what has turned the market from bearish to bullish in the short term?We welcome any feedback or suggestions for topics. Contact us at webeditor@platts.com.
Mexico’s higher gasoline prices for consumers are having a ripple effect through North American gasoline markets as the US exports more product to its neighbor. Josh Brown, editor for US gasoline markets, explains why Mexico’s domestic production is hobbled despite growing demand and...
Effective January 3, 2017, the Platts US Gulf Coast fuel oil assessment has been updated to reflect residual fuel oil intended for end-use by the bunker sector to meet maritime fuel demand. Patrick Burns, Americas fuel oil editor, talks with Matt Cook, associate editorial director for Americas...
The IMO’s decision in late October to go ahead with a 0.50% global sulfur cap in 2020 is the defining topic shaping the outlook for marine fuels. In this week’s podcast Martin Tallett, president, Ensys Energy, and David St-Amand, president, Navigistics Consulting, talk to Ned Molloy,...
S&P Global Platts editors David Elward and Ahila Karan discuss the nascent flows of Iranian gasoil into the Amsterdam- Rotterdam-Antwerp refining hub, where desulfurization opportunities have attracted the first shipments after a 10-year hiatus.Read more on this story -- Analysis: Iran emerges...
Russia is playing a key role in the agreement between OPEC and non-OPEC countries to remove up to 1.8 million b/d of crude oil from the market to accelerate rebalancing.With the first visible results of the efforts likely to be seen in February or so, Nadia Rodova, managing editor at S&P Global...
Platts editors Joel Hanley and Robert Beaman discuss the possibility of new grades of crude oil joining Brent, Forties, Oseberg and Ekofisk in the vital Dated Brent benchmark. Is Norway’s Troll the strongest candidate?Related videoWatch managing editor Paula Vanlaningham and price group...
Platts editors Joel Hanley and Elza Turner discuss the launch of the Urals crude oil futures contract on the St.Petersburg International Mercantile Exchange. Will international players help the contract provide a benchmark for Russian oil?We welcome any feedback or suggestions for topics. Contact...
The arrest of Russian Economy Minister Alexei Ulyukayev, accused of receiving a $2 million bribe for supporting Rosneft's acquisition of a 50% stake in Bashneft earlier this year, came as a shock to the market. The corruption scandal, involving a key player in the privatization process, raised a...
In early October Saudi Aramco stopped its open credit line to Egypt's EGPC halting the supply of refined products, according to traders. What led to this decision, and how does this fit into the political context in the Middle East? Ned Molloy, managing editor European fuel oil, George Shaw, editor...
There are no longer doubts about the technical feasibility of scrubbers, but the low oil price environment has made the financial case for investing in scrubbers less obvious. However with the upcoming IMO decision later in October in London, on whether to implement a global sulfur cap of 0.50% on...
This year Russian refinery upgrades have well and truly kicked in, after some delays, leading to a significant fall in fuel oil exports to Europe, and a shift towards higher-sulfur Vacuum Gasoil. S&P Global Platts' Ned Molloy, managing editor of fuel oil, interviews Jelena Grigorjeva,...
Sweeping changes to marine fuel regulation are affecting cruise liners more than most segments of the global shipping industry. Ned Molloy, managing editor, fuel oil at S&P Global Platts, speaks to Bud Darr, senior vice president of technical and regulatory affairs at Cruise Lines International...
Russia's privatization story has taken more twists and turns. The authorities have delayed the privatization of the country's fastest growing oil producer Bashneft, Lukoil has got cold feet over the potential purchase and Rosneft's interest has been muddied by the fact that it too is state owned....
Following numerous Russia-Asia economic events this spring, S&P Global Platts managing editor for oil news in Moscow Nadia Rodova and her Moscow-based colleague Nastassia Astrasheuskaya assess the prospects of oil and gas cooperation with investors from several Asian countries, with CNPC's...
As the European Union is to debate the extension of oil sanctions on Russia in June, Platts managing editor for oil news in Moscow Nadia Rodova and her Moscow-based colleague Rosemary Griffin discuss the impact of the sanctions on the country's oil sector and the implications for the future for...
Joel Hanley, editorial director for EMEA oil, talks with two Platts experts on Russia, Elza Turner and Nadia Rodova, about the changing profile of Russian refineries and exports, as lower crude oil prices, tax reforms, refinery upgrades and financing difficulties create a mixed outlook.We welcome...
Wildfires are still raging across northern Alberta, and the oil industry is grappling with shut-ins, forces majeures and price effects rippling through markets. Allen Reed, associate editor of Canadian crude oil, talks with Luciano Battistini, managing editor of crude oil, about the status of oil...
The US jet fuel industry is facing more problems with off-spec product, leading to lots of discussion around how jet fuel is stored, mixed, shipped on pipelines and tested. Kent Carlson, US jet fuel reporter, talks with Amanda Rayborn, managing editor for middle distillates, about some theories...
The premium of Mediterranean low sulfur fuel oil prices over Northwest Europe tumbled to its narrowest level in 20-months on the back of plummeting freight rates between the two regions.Platts oil and shipping editors, Beatrice Bedeschi and John Morley discuss the reasons behind the bearish...
Following a fourth-quarter earnings season in which oil companies took another severe hit from low oil and gas prices, Platts senior writer for EMEA oil news Robert Perkins and senior editor for EMEA oil news Nick Coleman discuss how the industry is adapting, some of the more surprising outcomes of...
The recent change in gasoil flows from Russia is the main driver of the shortage which has pushed Northwest European gasoil physical premiums to their highest in over three years. Platts oil products editors Olivier Lejeune, Elza Turner and George Shaw discuss recent market dynamics.We welcome any...
With a tumultuous year for oil prices now in the rear-view mirror, Platts middle distillates team leader Olivier Lejeune sits down with Phil Casey to discuss the structural shift observed on the European jet market in 2015 and the outlook for 2016. Despite robust demand, the region struggled to...
Memorial Day weekend in the US is expected to have the highest travel volume for the holiday in 10 years, according to AAA Travel, right at a time when refiners are cranking up capacity to churn out more gasoline. Jeff Bair, light ends team leader in the Americas, talks with Amanda Rayborn, who...
Is it the end of an era in Saudi Arabia? Platts associate editorial director for oil news Mriganka Jaipuriyar and senior editor Tamsin Carlisle look at how recent political developments in Saudi and the separation of Saudi Aramco from the Ministry of Petroleum could affect international oil...
Platts Robert Beaman, managing editor for EMEA crude oil, analyzes recent trends in Brent crude oil prices with North Sea crude editor Ned Molloy and futures specialist George Shaw. The team discusses a perceived disconnect between the rally in futures and the weak physical crude market, as...
Platts Olivier Lejeune, managing editor for European and African middle distillates, and Philippe Casey, European jet fuel editor, discuss the recent change in the European jet fuel specification and the serious implications for oil traders and pipeline operators across the continent. We welcome...
Platts Olivier Lejeune, managing editor, Europe and Africa middle distillates and Eline Potie, Europe and Africa gasoil editor, discuss the changing face of the European gasoil market after Russian refinery upgrade projects led to lower sulfur gasoil exports. We welcome any feedback or suggestions...
In this podcast, Vandana Hari, Platts editorial director in Asia, and Pradeep Rajan, Platts senior managing editor for freight markets, assess the oil volumes stockpiled by Iran and how much of it could flood the global market, as well as how the insurance landscape could evolve once oil sanctions...
Platts Benno Spencer, senior managing editor, Europe and Africa Oil and Erduan Reid, Europe and Africa fuel oil editor, discuss the surprising resurgence in Northwest European low sulfur fuel oil barge demand seen in the first half of April. The discussion focuses on Vitol's recent buying spree in...
China recently released criteria for refiners that do not have crude import quotas or licenses to start applying for new import quotas. Platts senior oil news writer Song Yen Ling explains this policy change, the current status of application for rights to import crude, and how it may affect the...
On March 28-29, Nigeria elected Muhammadu Buhari as the country's new president, defeating incumbent Goodluck Jonathan. Robert Beaman, Managing Editor for European and African crude oil, discusses the impact of the election on the oil industry and on the physical oil markets with editors Eklavya...
Gasoline accounts for roughly 30% of Japan's domestic oil demand. Platts Asian oil news associate director Mriganka Jaipuriyar and senior editor Takeo Kumagai analyze Japan's improved refining margins, the changes that helped refiners in the fiscal year 2014-2015, and the industry's outlook for...
Sophie Byron, managing editor of Europe and Africa light ends, and Iain Stevenson, associate editor for LPG, analyze what is causing the tightness in propane supply in Europe, its impact on prices, and the steps being taken by the region's producers to meet their propane requirements. We welcome...
Sophie Byron, managing editor for European and African light ends, discusses with editor Virginie Malicier, the gasoline seasonality switch from winter to summer specification and blending demand; and analyze Where US gasoline strength after strike action, refinery issues and maintenance has...
Robert Beaman, managing editor for European and African crude oil, discusses the impact on the WAF crude market of the recent changes in Suezmax and VLCC freight rates, with freight editor John Morley and price assessments specialist Dimitrios Moraitelis. With Brent crude contango having narrowed...
Platts Christopher Vowden, managing editor of fuel oil and feedstocks, and Marko Trtica, fuel oil editor, discuss the recent change in shipping emission regulations that has led to increased demand for European marine gasoil and the growing interest in other alternative fuels and technologies. We...
Several Asian governments have taken advantage of low oil prices to carry out retail pricing reforms in their respective countries. In this podcast, Platts senior editor Mriganka Jaipuriyar, editorial director in China Sebastian Lewis, and senior analyst Oceana Zhou discuss the potentially big...
Brian Pearce, IATA’s chief economist, talks to Ilana Djelal, associate editorial director for European clean products and Philippe Casey, European jet fuel editor on the impact of lower energy complex on downstream airline markets. We welcome any feedback or suggestions for topics. Contact...
In this podcast, Platts senior oil news writer Yen Ling Song looks at the pattern of China's crude imports over the past years and discusses the factors that may affect the country's buying decision in 2015, as well as its current and upcoming capacity for commercial storage and strategic petroleum...
Sophie Byron, managing editor of Europe and Africa light ends, and and Iain Stevenson, associate editor for LPG discuss structural changes in the LPG market, focusing on increased propane exports from the US and the impact on the European market. Also examined is the lack of seasonal strength in...
Malaysia has scrapped fuel subsidies and Indonesia has reduced them. Platts editors James Bourne, Mriganka Jaipuriyar, and Jonathan Nonis discuss the subsidy policy shifts, the impact on oil imports, and the domestic appetite for fuel in both countries. This is the latest in a series of weekly...
Benno Spencer, senior managing editor, Europe and Africa oil, Elza Turner, senior editor for Russian crude and products, and Paula VanLaningham, editor for Mediterranean and Urals crude, discuss the upcoming changes to the Russian oil export tax scheme and their impact on both crude and product...
Sophie Byron, managing editor of EMEA light ends and Virginie Malicier, editor for EMEA naphtha discuss the recent weakness in the European naphtha market with oversupply in Europe and low demand in Asia. Also examined is the ongoing competition from LPG for petrochemical cracking in Europe as...
Benno Spencer, senior managing editor, Europe and Africa oil, and Marko Trtica, fuel oil editor, discuss the recent OW Bunker bankruptcy and the consequences for the global bunker fuel market; focusing on price, competition, finance, losses and other ramifications.This is the latest in a series of...
Aleksandrs Juhnevics, managing editor, global shipping and freight, and Eklavya Gupte and John Morley, associate editors for West African crude and shipping, discuss the impact on the oil and shipping markets of the recent Ebola outbreak in WAF; and examine the steps taken by the shipping industry...
Cheong Su Yeen, Platts senior editor for jet fuel in Asia, and Song Yen Ling, Platts senior writer for oil, discuss the growth prospect of jet fuel demand in China amid the rapid development of high-speed railway network; the product balance for jet fuel in China; and the factors that will likely...
Elza Turner, senior editor for the Russian domestic oil market and Alex Pearce, editor for Northwest Europe distillates, discuss the temporary drop of Russian October diesel exports against the overall picture of steady flows to Europe and expected increase of volumes next year.This is the latest...
Sophie Byron, managing editor for EMEA light ends and Virginie Malicier, editor for EMEA naphtha, discuss the recent weakness in the European naphtha market, where cheaper propane remains in the petrochemical cracking pool and good availability of naphtha creates an overhang in the market. In...
A glut in ultra low sulfur diesel and gasoline looms in Asia. Jonathan Nonis, Platts senior managing editor for the Asian oil markets, discusses the factors behind the impending oversupply, Australia's potential demand growth, and the possibility of other markets as destinations of the surplus...
Sophie Byron, managing editor for EMEA light ends and Francesco Di Salvo, editor for EMEA gasoline, discuss the recent strength in the Northwest European gasoline market, where refinery maintenance has exerted upwards pressure on prices. This is despite the transition to cheaper winter-grade...
Andrew Bonnington, editorial director for European and African oil and Eklavya Gupte, associate editor covering the West African crude oil markets, discuss the unique challenges and opportunities facing the African continent. Booming US crude oil production has meant that Nigeria in particular has...
Benno Spencer, senior managing editor for EMEA oil and Paula VanLaningham, editor for Mediterranean and Urals crude, discuss the recent weakness in the Mediterranean Urals market, where differentials have dropped relative to the Northwest European market as incoming arbitrage barrels from the...
Mexico's energy reforms present potentially huge oil and gas exploration and investment opportunities to foreigners. James Bourne, Platts associate director of oil news in Asia, and Takeo Kumagai, Platts senior editor for Asia oil news, discuss the sets of investment opportunities for foreign...
Platts Stuart Elliott, associate editorial director, Europe and Africa oil news and Rosemary Griffin, associate editor, discuss the likely impact of new EU sanctions against Russian oil companies, and how the likes of Rosneft, Transneft and Gazprom Neft might combat the measures. This is the latest...
Platts Stuart Elliott, associate editorial director, Europe and Africa oil news and Nick Coleman, senior editor, discuss the run-up to the vote on Scottish independence, how the future of North Sea oil and gas is at the center of the debate and what an independent Scotland would look to do with its...
Platts Peter Norfolk, editorial director, global shipping and freight, and John Morley and Nigel Davies, West of Suez freight editors, discuss the impact on tanker markets of the restart of crude oil loading from the Libyan ports of Ras Lanuf and Es Sider, as well as the latest developments...
Platts Stuart Elliott, associate editorial director, Europe and Africa oil news and Dina Khrennikova, associate editor, discuss the problems that hit the launch of the giant Kashagan oil field offshore Kazakhstan and the likely timeline for the field's restart. This is the latest in a series of...
Platts Stuart Elliott, associate editorial director, Europe and Africa oil news and Rosemary Griffin, associate editor, discuss the impact on the Russian oil and gas sector of ongoing Western sanctions against Russia and two court rulings in favor of Yukos former shareholders announced recently....
Platts' Andrew Bonnington, editorial director for European and African oil discusses the recent fall in the value of low sulfur fuel oil relative to high sulfur fuel oil with editors, Ned Molloy and Maude Desmarescaux. The recent glut of light, sweet crudes and subsequent fall in the value of the...
Platts' Song Yen Ling, senior writer for China, analyzes China's apparent oil demand during the first six months of 2014, which edged up 0.6% on year to 9.91 million b/d, according to Platts calculations based on recent government data. She also assesses gasoil demand, which recovered to its...
Platts' Eklavya Gupte, West Africa crude editor, and Ned Molloy, North Sea crude editor, discuss the biggest slide in Brent crude prices this year, including the impact of Chinese de-stocking on West African exports, the fragile recovery in European refining margins, and headlines on Iraq and...
Shippers traveling within 200 miles of US shores are just six months away from new emissions regulations, which will lower the amount of sulfur in fuel allowed within Emission Control Areas. John-Laurent Tronche, team leader, Americas bunker fuel and residuel fuel oil, explains the options...
Andrew Bonnington, Platts editorial director for European and African oil, and Eklavya Gupte, West Africa editor, discuss the recent low values seen in the Angolan crude market amid weak Chinese demand and tumbling refining margins. This is the latest in a series of weekly podcasts aimed at...
Benno Spencer,Ned Molloy and Paula Vanlaningham, members of the Platts European crude oil price reporting team, discuss the recent reversal of fortunes for North Sea crude values, the bearish Mediterranean and Urals crude markets, stymied West African crude arbitrage to China and an environment of...
Ilana Djelal, Platts associate editorial director clean products EMEA and Eline Potie, Platts European gasoil market editor, discuss persistent weakness in the underlying gasoil demand and how this weakness is being mitigated by Baltic gasoil volume bypassing European markets in May. This is the...
Ellie Weir, Platts tankers team leader talks to John Morley, dirty tankers editor and Eklavya Gupte, West African crude editor, about the reasons behind WAF VLCC freight rates languishing at their lowest levels for eight months. Focusing on both the freight and crude oil markets to understand why...
Sophie Byron, Platts light ends team leader, and Francesco Di Salvo, Platts EMEA gasoline editor, discuss recent weakening in the European physical and paper gasoline markets, as weaker arbitrage opportunities to the US Atlantic Coast failed to absorb length, as well as the impact of West African...
Takeo Kumagai, senior editor for Platts oil news, talks with James Bourne, associate editorial director for oil news in Asia, about how operable capacity for oil refining in Japan has dropped roughly 20% on government regulations and waning domestic demand. Imports of certain products may increase...
The Great Australian Bight, off the southern coast of Australia, is causing excitement among major oil companies hoping to tap into the large offshore reserves there. James Bourne, Platts associate editorial director for Asian oil news, and Christine Forster, Platts senior writer for Asia oil news,...
James Bourne, Platts associate editorial director for Asian oil news in Singapore and Takeo Kumagai, Platts senior editor for Asia, based in Tokyo, analyze Japanese and South Korean buyers of Iranian crudes having maintained their annual term contracts for 2014 at volumes unchanged from last year....
Andrew Bonnington, Platts editorial director, European and African Oil and Charles Goldner, Platts EMEA diesel editor, on liquidity in the European diesel market having surged in recent weeks amid strong buying from trading companies. With diesel cars becoming more and more popular across Europe...
Mriganka Jaipuriyar, senior editor for Platts Oilgram News, and Song Yen Ling, senior writer for oil, discuss how India's upcoming election is shaping the country's oil and gas exploration policies. This is the latest in a series of weekly podcasts aimed at highlighting significant news stories...
The RBOB futures market has recently experienced a rally supported by bullish stocks data in the country. The US Atlantic Coast is the traditional outlet for Europe's structurally long gasoline market, however, an open arbitrage has so far been unable to translate in bullish fundamentals in...
A frigid winter in the Northeast gave US fuel oil markets a boost, but new regulations and more fuel switching in power generation means the fuel oil industry is facing major changes. Platts editors John-Laurent Tronche, team leader, Americas bunker fuel and residuel fuel, and Patrick Burns,...
Alison Ciaccio, futures oil editor, and Bridget Hunsucker, editor, Americas oil news, discuss Cushing, Oklahoma, the basis for the NYMEX light sweet crude contract, and the possibility of starting new US futures contracts in Albany, New York, and Houston, Texas. This is the latest in a series of...
Platts' Song Yen Ling, senior writer for China, discusses Chinese state-owned oil and gas companies' recently-announced investment plans, having taken the unusual step of cutting their capital expenditure; the norm being to have capex grow year on year in order to boost growth. The main reason for...
Stuart Elliott, associate editorial director, and Rosemary Griffin, associate editor, discuss the move by Washington to add the CEO of Russia's Rosneft to its list of sanctions designed to put pressure on Moscow over the Ukraine crisis. Rosneft's business interests so far are unaffected, but could...
Ahead of Platts' 5th Annual European Bunker Fuel Conference in Rotterdam on May 22-23, Chris Vowden, European fuel oil and feedstocks team leader, spoke to the Port of Rotterdam Authority's Ronald Backers, Business Developer, Liquid Bulk and Jaap van Dalen, Business Manager, Oil and Refining, about...
Russia's Urals crude oil grade has been volatile recently, briefly reaching a six month high in mid-March before rapidly falling back in the space of two weeks. What have been the fundamentals driving this change, and what has the impact been on the European crude markets? Platts' team leader for...
Record low temperatures in Japan are causing utilities to burn more direct burning crude for power generation. Daniel Colover, Platts Asia crude oil managing editor, and Ada Taib, senior editor for oil, discuss the continued pickup in demand for direct burning crude in Japan even after the cold...
Charles Goldner, EMEA diesel editor, and Olivier Lejeune, EMEA team leader for middle distillates, discuss the recent decision by UK oil importers to enact a new test on diesel filter-blocking tendency. This could make it more difficult to export Russian diesel to the country. This is the latest in...
Ellie Weir, team leader for EMEA shipping and Shubh Shukla, West of Suez freight editor, discuss the shipping security measures now recommended by the Norwegian Maritime Authority, following the hijacking of a vessel off shore Luanda, Angola in January. This is the latest in a series of weekly...
The Chinese oil sector is traditionally controlled by the state but this seems about to change as China’s largest refiner, Sinopec, announced plans to seek investment for its oil product marketing and retail division. Song Yen Ling, Platts senior writer for oil and gas news, discusses the...
Benno Spencer, senior managing editor Europe and Africa oil and Marko Trtica, fuel oil editor, discuss the recent strength seen in Northwest European low sulfur fuel oil, stemming from regional outflows to the US due to unprecedented cold across the Atlantic and European refinery maintenance. This...
Ilana Djelal, associate editorial director, clean products EMEA, and Eline Potié, middle distillates editor, discuss trends and flows in the European gasoil market. This is the latest in a series of weekly podcasts aimed at highlighting significant news stories from around the energy world....
Mediterranean-Japan freight rates have shot up over $3 million, the highest in over a year. Wanda Wang, Platts Asia shipping editor, explores how the West of Suez market and Aframaxes have pushed the rates up and shares market sentiments on the sustainability of the rates. This is the latest in a...
Aframax rates have risen sharply, promptin ships to ballast from the East to the West. Sameer Mohindru, Platts Asia senior editor for shipping and freight, discusses the performance of Aframax rates in 2013 and what events are rocking the boat for the market this year. This is the latest in a...
The North Sea crude oil market has weakened dramatically as Asian buying interest dries up ahead of refinery maintenance. Platts' Europe and Africa crude oil Team Leader Robert Beaman discusses these developments with North Sea editor Ned Molloy and West Africa editor Eklavya Gupte. The team...
Andrew Bonnington, editorial director for European and African Oil, discusses why airfares have not fallen in line with jet fuel prices, with Philippe Casey from the jet fuel desk. As the public outcry for lower airfares grows, Andrew and Philippe examine why hedging in the paper market prevents...
China's bunker fuel sales were estimated at 10 million mt in 2013, a 10% decrease from 2012. Atsuko Kawasaki, Platts Asia oil editor, examines the reasons behind the drop and shares market expectations for the year ahead. This is the latest in a series of weekly podcasts aimed at highlighting...
Benno Spencer, senior managing editor, Europe and Africa Oil, John Morley, West of Suez freight editor, and Eklavya Gupte, West African crude editor, discuss the factors that have contributed to the recent record strength in the dirty tanker market while also focusing on the impact of the strength...
Olivier Lejeune, team leader for European and African middle distillates, discusses a bearish start to 2014 for diesel, jet fuel and gasoil markets with editors David Elward and Robert Friend. Rising exports from the US and new refining capacity coming online in the Middle East is already putting...
Platts Europe & Africa crude oil team leader Robert Beaman discusses recent developments in Libyan crude exports with Urals and Mediterranean editor Paula VanLaningham. As some Libyan crude returns to market from the west of the country while exports from the east remain limited, they discuss...
Robert Beaman, managing editor for European and African crude oil, discusses the widening contango on the ICE Brent Futures structure with crude editors Eklavya Gupte and Ned Molloy. As steep contango encourages traders to put Atlantic Basin, Persian Gulf and Asian crudes into inland and floating...
Niels von Hombracht, a specialist in the field of the storage and logistics of crude oil, petroleum products and chemicals, discusses with John Kingston, Platts news director, the most pressing issue for the oil storage market and trends driving storage issues for crude versus storage issues for...
Eklavya Gupte, European feedstocks market editor and Chris Vowden, European fuel oil and feedstocks team leader, discuss the recent strength on the European vacuum gasoil market and how the increase in US gasoline values and an open arbitrage has provided a huge boost to the VGO market in Europe....
Despite muted growth in demand in the past year, gasoil is one product to watch in coming months. Song Yen Ling, senior writer for Platts oil and gas news, examines the general outlook for Chinese oil demand and notable developments in the market. This is the latest in a series of weekly podcasts...