Crude Hits the Gas as China Stirs the Pot and Winter Bites
Oil prices surged to their highest levels since October, fueled by Beijing’s economic stimulus spree and frosty weather boosting global fuel demand. Brent crude edged up by $0.15 to $76.66 per barrel early Monday, following a Friday close that marked its strongest since Oct. 14. Meanwhile, WTI crude gained $0.22 to $74.18, also hitting a […]
Trump Threatens EU with Tariffs over Energy Imports
President-elect Donald Trump has issued a clear ultimatum to the European Union: boost imports of American oil and gas or face new tariffs. In a statement delivered on his social media platform, Trump emphasized the need for the EU to address its trade deficit with the U.S. by purchasing more U.S. energy products. Trump has […]
Naphtha Prices Drop for 2025 Contracts Due to Weak Demand and Oversupply
Naphtha prices for 2025 contracts have dropped slightly due to weak demand in the petrochemical industry and a supply glut. Several Asian companies, including South Korea’s YNCC, Singapore’s PCS, and Taiwan’s Formosa Petrochemical, have signed contracts for naphtha at lower premiums compared to 2024 prices. This marks a shift in the market as companies are […]
China’s Independent Refiners Shift Focus Amid Iranian Supply Crunch
China’s independent refiners, known as “teapots,” are facing growing challenges in securing Iranian crude oil, prompting a significant shift in their sourcing strategies. Iranian oil, traditionally a cost-effective option for these refiners, has become increasingly scarce and expensive. This is largely due to the broadening of U.S. sanctions in October, targeting tankers involved in the […]
Oil Drops 2% as Trump Win Shakes Up U.S. Election
Oil prices declined by up to 2% on Wednesday after experiencing gains in the previous two days. This drop was mainly influenced by a notable surge in the U.S. dollar following projections that Republican Donald Trump had won the U.S. presidential election, defeating Democrat Kamala Harris. This projected outcome, which implies significant potential shifts in […]
