Japan naphtha crack looks to remain under pressure in Q2 on thin petrochemicals margins

The C+F Japan physical naphtha crack against Brent crude is expected to remain under pressure in the second quarter after hitting a five-month low amid razor-thin petrochemicals margins, while more supply from the Middle East after refinery turnarounds have offset lower Russian naphtha inflows into...


US natgas will be cheaper than coal in 2024 for the first time, EIA says

U.S. natural gas will be cheaper to burn than coal in 2024 for the first time ever, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO). The use of coal to generate U.S. power has been falling versus gas for years in part because gas produces less carbon...


TMX crude pipeline seen filling up to 590,000 b/d capacity by end of decade

Western Canadian oil producers have good reason to cheer, as after waiting for decades the 590,000 b/d Trans Mountain Expansion pipeline is scheduled to start up May 1, providing additional egress to the West Coast, access for their heavy barrels to a new market in Asia, and, above all, much-needed...


Middle East Crude-Benchmarks inch up; another Murban delivery emerges

Middle East crude benchmarks climbed on Thursday as spot buying momentum picked up slightly on the window, while another Murban cargo delivery emerged. This brings the total number of Murban cargoes to be delivered for June to a total of five cargoes in the month so far. Meanwhile, in the broader...


Russia considers easing gasoline environmental requirements, sources say

Russia’s government is looking at the possibility of introducing some easing of rigorous fuel environmental standards in order to allow the usage of low-quality gasoline in the face of possible fuel shortages, three industry sources told Reuters. According to sources’ calculations, it could bring...


US Treasury seeks crypto sanctions authority, but oil sanctions impact may be small

The US Treasury Department is urging Congress to give it more authority to go after bad actors that use cryptocurrency to evade sanctions, but any shift in policy is expected to have a limited impact on oil-related sanctions in the near term, experts say. “These new tools are less important for the...


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