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 […]
2025 Oil Outlook: A Bear’s Market or Analyst’s Breakout?
Oil markets are heading into 2025 under a mix of cautious optimism and looming challenges. While prices remained surprisingly stable throughout 2024, with West Texas Intermediate and Brent crude fluctuating minimally around $70 and $74 per barrel, respectively, next year could see significant shifts driven by a handful of key factors. Demand Dynamics: Spotlight on […]
Trump Eyes Broader Oil Sanctions on Iran
The incoming Trump administration is reportedly planning to expand sanctions on Iran’s oil sector, targeting not just crude exports but a wider range of petroleum products. This strategy aims to intensify economic pressure on Tehran by cutting off additional revenue streams. According to sources familiar with the matter, the new measures could include restrictions on […]
India’s Gas Demand Climbs as Fertilizers Dominate
LNG Imports Rise as Domestic Gas Production Declines: Shifting Energy Trends in India India’s natural gas consumption reached 6019 million standard cubic meters (MMSCM) in October 2024, reflecting the growing energy demands of its industrial and urban sectors. The fertilizer sector emerged as the largest consumer, accounting for 29% of the total usage, followed by […]
Winter Fuels Bullish Surge in Europe’s Diesel Market
Optimism is growing in the European diesel and gasoil markets as hedge funds and portfolio managers continue to cut their bearish positions amid colder weather and surging natural gas prices. Traders are increasingly bullish on diesel futures, with expectations for further price increases throughout the winter. In the week leading up to November 26, money […]
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 […]
Global Energy Markets Struggle Amid Gas Price Surges, Supply Disruptions, and OPEC+ Uncertainty
European natural gas prices have jumped nearly 45% this year, driven by cold weather forecasts and U.S. sanctions on Gazprombank, a key Russian financial entity. Northwest Europe is experiencing its first notably cold winter since 2021, with temperatures below the 30-year average, causing gas inventories to drop to 87.7% of capacity. LNG (liquefied natural gas) […]
Turkey’s Top Refiner Tupras Locks in Over 500,000t Bitumen Sales for 2025
Turkey’s largest refiner, Tupras, has signed agreements for the supply of over 500,000 tons of bitumen in 2025, sourced from its Izmit and Izmir refineries. As reported by Argus media, These contracts, awarded through a tender process, attracted major international players, including Rubis Asphalt, Continental Bitumen (Colas), and Vitol, highlighting Tupras’ critical role in the […]
Algeria Set to Resume Bitumen Imports from Spain
Algerian bitumen importers are preparing to restart imports from Spain, marking the end of a two-year halt on trade between the countries. The Algerian government recently lifted restrictions that were imposed in June 2022 after Spain publicly backed Morocco’s Western Sahara autonomy plan, leading to the suspension of a friendship treaty and halting bitumen shipments. […]
