Heating Oil

U.S. crude oil, fuel and extract stocks rose last week mainly driven by low crude exports and as suggested demand for fine-tuned items declined, the Energy Info Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 457.3 million barrels in the week ended April 5, the EIA said, compared with analysts' expectations in a poll for a 2.4 million-barrel increase. Unrefined futures fell after the bigger-than-expected build. Brent futures were trading 3 cents lower at 89.39 a. barrel by 10:48 a.m. ET (1448 GMT). West Texas Intermediate. crude futures (WTI) were down 11 cents at $85.12 a....

Mexico's governmental frontrunner Claudia Sheinbaum prepares to purchase stateowned Pemex' oil refineries to lower the substantial volumes of lowvalue fuels produced and rather improve the output of motor fuels, one of her advisors stated. Pemex has actually been producing record levels of heavy fuels, such as the especially polluting fuel oil, as its local refineries battle to process the heavy Maya crude it pumps. In 2015, Pemex produced 260,285 barrels per day (bpd) of fuel oil - going beyond the production of gasoline at 252,203 bpd. Thought about a waste product, in Mexico fuel oil is generally scorched for electrical...

U.S. unrefined stocks increased suddenly recently, while fuel and distillate stocks fell more than anticipated, as refining activity slowed in the world's leading oil producing country, the Energy Information Administration said on Wednesday. Crude stocks swelled for a second straight week, increasing by 3.2 million barrels to 451.4 million barrels in the week to March 29, the EIA stated, compared to experts' expectations in a poll for a 1.5 million-barrel draw. U.S. fuel stocks, meanwhile, fell by 4.3 million barrels in the week to 227.8 million barrels, the EIA said, compared with experts' expectations in a poll for a. 800,000-barrel...

Worldwide trade flows have showed indications of speeding up at the start of 2024, as the significant industrial economies began to pull out of the slump that started in late 2022, which must enhance need for transport fuels such as diesel. Short-term activity indications have been misshaped by unusual weather patterns across North America and Europe, with a remarkably moderate December followed by more normal temperatures in January. On balance, nevertheless, the majority of indications indicate production and freight activity starting to speed up around the turn of the year, in some cases quite significantly, despite reasonably high interest rates....

International trade flows have showed indications of speeding up at the start of 2024, as the major commercial economies started to take out of the downturn that started in late 2022, which must improve need for transport fuels such as diesel. Short-term activity indicators have actually been distorted by unusual weather patterns throughout North America and Europe, with an extremely mild December followed by more regular temperatures in January. On balance, nevertheless, most indicators point to production and freight activity starting to speed up around the turn of the year, in many cases quite significantly, despite relatively high rate of...

Egypt raised prices on a. large range of fuel products on Friday, the official gazette. stated, pressing ahead with a pledge it made to the International. Monetary Fund (IMF) more than a year ago as part of a $3 billion. financial support agreement. In a letter of intent checked in November 2022, Egypt stated it. would enable most sustain item prices to increase to bring domestic. costs more in line with those in worldwide energy markets. It also assured to make up for a slowdown in such boosts. over the previous year. But it subsequently hiked costs only. once, in...

Fuel suppliers in Baltimore will face some trucking hold-ups and other minor logistical issues after the collapse of a significant bridge earlier today shut the city's port indefinitely, market participants said on Wednesday. A cargo ship smashed into the Francis Scott Secret Bridge on Tuesday, triggering parts of the bridge to collapse into shipping lanes at the mouth of the Port of Baltimore, and putting one of the busiest ports on the U.S. East Coast out of service. The bridge's collapse includes hold-ups to fuel shipments that will last numerous months, as fuel trucks that previously utilized the bridge will...

U.S. unrefined stocks increased while gasoline and distillate inventories fell in the week ending April 12, the Energy Information Administration said on Wednesday. Crude inventories increased by 2.7 million barrels to 460 million barrels, the EIA said, compared with experts' expectations in a. poll for a 1.4 million-barrel increase. Unrefined stocks at the Cushing, Oklahoma, shipment hub. increased by 33,000 barrels in the week, the EIA said. Refinery unrefined runs increased by 131,000 barrels per. day in the week, the EIA stated. Refinery usage rates fell by 0.2. percentage points in the week. U.S. gasoline stocks fell by 1.2 million....

U.S. producers are having a hard time to gain back momentum as the sector attempts to take out of the prolonged however shallow decline, with any help from lower rate of interest postponed due to continuing inflation in the service sector. The desultory state of factory and freight activity has restricted diesel usage, postponed the anticipated depletion of fuel stocks, and caused refining margins to soften. The Institute for Supply Management (ISM)'s acquiring index slipped to 47.8 (18th percentile for all months because 1980) in February down from 49.1 (25th percentile) in January. The index has actually been below the...

U.S. petroleum stockpiles rose while gasoline and distillate stocks fell last week as refiners performed at listed below seasonal lows due to planned and unexpected outages, the Energy Information Administration stated on Wednesday. Crude stocks rose for the fifth consecutive week, increasing by 4.2 million barrels to 447.2 million barrels in the week ending Feb. 23, the EIA said, compared to analysts' expectations in a survey for a 2.7 million-barrel rise. Stocks at the Cushing, Oklahoma, shipment center for U.S. unrefined futures increased by 1.5 million barrels recently to 31 million barrels, the EIA said. Brent oil and West Texas...

U.S. petroleum stockpiles rose last week, while gasoline and extract stocks fell as refinery upkeep and failures kept activity low, the Energy Information Administration stated on Thursday. Unrefined inventories increased by 3.5 million barrels to 442.9 million barrels in the week ending Feb. 16, the EIA stated, compared to analysts' expectations in a survey for a 3.9 million-barrel increase. Unrefined stocks at the Cushing, Oklahoma, delivery center increased by 741,000 barrels last week to 29.5 million, the EIA stated. On the other hand, refinery crude runs inched up by 31,000 barrels daily, and refinery usage rates were unchanged at 80.6%...

U.S. crude stocks increased while gas and extract inventories fell in the week ending Feb. 9, the Energy Information Administration said on Wednesday. Unrefined inventories increased by 12.0 million barrels to 439.5 million barrels last week, the EIA said, compared to experts' expectations in a poll for a 2.6 million-barrel rise. Unrefined stocks at the Cushing, Oklahoma, delivery center increased by 710,000 barrels last week, the EIA stated. Refinery unrefined runs fell by 298,000 barrels per day in the week ended Feb. 9, the EIA said. Refinery utilization rates fell by 1.8 percentage points in the week. U.S. fuel stocks...

Singapore's middle distillates stockpiles drew for a second week, falling by 2%. week on week, however China import volumes for diesel/gasoil and jet. fuel/kerosene remained popular, official information revealed on. Thursday. Gasoil/diesel and jet fuel/kerosene inventories at key oil. storage center Singapore were at 10.134 million barrels, below. 10.349 million barrels a week ago, figures from Enterprise. Singapore showed. Jet fuel/kerosene net exports climbed by nearly 10%, fuelled. by the 43% rise in overall exports week on week. Key factors today were Australia and Vietnam, with. the latter drawing more freights regionally given some planned. refinery maintenance there that simply...

Singapore's middle extracts stockpiles increased almost 2% week on week, driven by the dip in net exports of jet fuel/kerosene, while diesel/gasoil exports for March to northwest Europe were at more than 140,000 metric tons, official information showed on Thursday. Gasoil/diesel and jet fuel/kerosene inventories at essential oil storage center Singapore were at 10.301 million barrels, up from 10.134 million barrels in the previous week, figures from Business Singapore revealed. Net exports of jet fuel/kerosene fell about 85% from the previous week, with the 87% decline in overall exports being a secret factor. China's import volumes slipped to slightly below...

Singapore's middle extracts stockpiles slipped weekonweek as net exports of diesel/gasoil rose, main information showed on Thursday. Inventories of diesel/gasoil and jet fuel/kerosene at key oil storage center Singapore were at 8.845 million barrels in the week of Feb. 21, below 9.547 million barrels from a week earlier, the data from Business Singapore showed. Net exports of diesel/gasoil increased by 37% from recently, mainly due to an 11% decrease in overall imports. Import arrivals were mostly from Russia and Saudi Arabia for the week, the information showed. Around 100,000 metric loads of India-origin diesel/gasoil were bound for Singapore in February,...