Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude ended...
https://www.hellenicshippingnews.com/oil-falls-1-5-ends-week-lower-on-china-demand-fears/
Injections into natural gas storage in the Lower 48 states since April 1 have totaled 950 billion cubic feet (Bcf), according to our July 18 Weekly Natural Gas Storage Report. So far this injection season (April 1–October 31), the amount of natural gas injected into storage (less withdrawals) is...
Oil prices eased on Thursday as concerns over weak demand in China, the world’s largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains in the previous session after draws in U.S. inventories. Brent crude futures for September fell 59 cents, or 0.7%,...
Energy – supportive EIA inventory report Oil prices rebounded yesterday due to supportive inventory numbers from the US. The EIA reported that US commercial crude oil inventories fell by 3.74m barrels over the last week. This leaves total commercial crude oil inventories at 436.49m barrels- the...
https://www.hellenicshippingnews.com/the-commodities-feed-oil-inventory-draws/
Russian crude oil production in June exceeded quotas set by the OPEC+ group but the energy ministry pledged on Wednesday to stick to the required output level in July. It said the production level was assessed by independent sources certified by the OPEC+ deal. These include international...
Refining margins in the two largest US refining centers—the US Gulf Coast and the US Midwest—illustrate how weather and storms can have diametrically opposite reactions on refining margins and regional crack spreads, a July 23 analysis from S&P Global Commodity Insights showed. Hurricane Beryl...
https://www.hellenicshippingnews.com/hurricane-beryl-affects-usgc-midwest-margins-in-opposite-ways/
China’s natural gas demand is expected to grow between 6.5% and 7.7% this year to reach 420 billion to 425 billion cubic metres, the National Energy Administration said in an industry update. The growth is slightly higher than a previous forecast by state energy giant CNPC which pegged the growth...
India’s Reliance Industries (RELI.NS), opens new tab has received approval from the United States to resume importing oil from Venezuela despite Washington’s sanctions, a source familiar with the matter said on Wednesday. The United States in April re-imposed sanctions on Venezuela’s oil sector in...
The OPEC Secretariat said on Wednesday it had received a plan from Iraq to make up for overproduction in the first half of the year and said it would offset it by Sept. 2025. Iraq’s overproduced volumes between January and June totaled about 1.184 million barrels per day, the de facto Saudi-led...
https://www.hellenicshippingnews.com/iraq-to-offset-1-184-million-bpd-jan-june-overprodcution-opec/
U.S. crude oil, gasoline and distillate inventories fell last week, according to market sources citing American Petroleum Institute figures on Tuesday. The API figures showed crude stocks were downby 3.9million barrels in the week ended July 19, the sources said, speaking on condition of anonymity....