India is advancing its plans to expand LPG underground caverns to cushion the impact of price and supply fluctuations amid increasing geopolitical turbulence, thereby broadening its oil storage and stockholding strategy beyond crude oil. Analysts and industry sources told Platts that India’s...
General Energy News
India, Saudi Arabia looking to collaborate on upcoming refinery projects
India and Saudi Arabia have agreed to collaborate on two upcoming refinery projects in India, a move that would help to expand their scope of energy cooperation beyond the traditional buyer-seller relationship, Indian government officials said April 22. The two sides agreed to expand energy...
Diesel margins at one-month high amid near-term bullish fundamentals
Asia’s middle distillates market structure firmed further as front-month prices received support from bullish near-term supply-demand fundamentals, with China barrels being offered through the week for May shipment. Talks of tightening supplies remained a supportive market driver, with some...
US natgas prices fell 2% to 5-month low on mild weather, low demand
U.S. natural gas futures fell about 2% to a five-month low on Friday on forecasts for mild weather through mid May that will keep heating and cooling demand low, allowing utilities to keep putting more gas into storage than usual in coming weeks. On its second to last day as the front-month, gas...
Gasoline margins climb on lower inventories
Northwest European gasoline profit margins rose by about 40 cents to $14.03 a barrel on Friday supported by lower inventories. Trafigura sold two barges of Eurobob E5 to Litasco. Sahara sold a barge of Eurobob E10 to BP. Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA)...
https://www.hellenicshippingnews.com/gasoline-margins-climb-on-lower-inventories/
Europe Gas: Prices hold steady as market seeks new input
Dutch and British wholesale gas prices were rangebound on Friday morning amid a lack of fundamental news and sufficient supply. The benchmark Dutch front-month contract (TRNLTTFMc1) eased by 0.20 euro to 33.45 euros per megawatt hour (MWh) by 0859 GMT, while the June contract was up 0.30 euro at...
https://www.hellenicshippingnews.com/europe-gas-prices-hold-steady-as-market-seeks-new-input/
German gas output falls 2.3% in 2024, oil stable
Germany’s domestic gas production fell 2.3% to 4.2 billion cubic metres in 2024 while oil output was stable at 1.6 million metric tons, industry association BVEG said on Thursday. The BVEG companies achieved a turnover of 2.4 billion euros ($2.7 billion) from their German production activities,...
https://www.hellenicshippingnews.com/german-gas-output-falls-2-3-in-2024-oil-stable/
Europe Gas Prices little changed on healthy supply
Dutch and British wholesale gas prices were little changed on Thursday morning on healthy supply. The benchmark Dutch front-month contract (TRNLTTFMc1) edged up 0.17 euro to 34.30 euros per megawatt hour (MWh) by 0758 GMT, while the June contract was 0.18 euro higher at 34.33 euros/MWh, according...
https://www.hellenicshippingnews.com/europe-gas-prices-little-changed-on-healthy-supply/
Naphtha margin up, window activity thin
Asia’s naphtha refining profit margin gained on Thursday after prices of the oil product weakened in tandem with crude oil benchmarks, but window activity remained thin for a fifth consecutive session. The crack rose by about $7 to $89.83 per metric ton over Brent crude. The price for first-half...
https://www.hellenicshippingnews.com/naphtha-margin-up-window-activity-thin/
US natgas prices fall 4% to 5-month low on big storage build, mild weather
U.S. natural gas futures fell about 4% to a five-month low on Thursday on a bigger-than-expected weekly storage build and expectations that mild weather will keep heating and cooling demand low in coming weeks. The U.S. Energy Information Administration (EIA) said energy firms added 88 billion...