Asia’s middle distillates markets remained thinly discussed, with traders awaiting January spot activity to be in full bloom the next few trading sessions. Traders held mixed views on the diesel/gasoil demand-supply balance in the next two months, with most expecting it to hinge on the weather situation in the west – though the east-west arbitrage price spread was at its narrowest in slightly more than three months. On the jet fuel/kerosene front, traders were slightly more positive given production issues at Japan-based refineries ahead of some scheduled maintenance – though ...

Dutch and British wholesale gas prices were slightly lower on Thursday morning, trading in a narrow range following a sharp decline in the previous session as weather outlook for the end of the week has been revised warmer and windier. A price rise is still possible as a cold spell expected next week could raise gas demand for heating. The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 0.13 euro at 46.93 euros per megawatt hour (MWh), or $14.85/mmbtu, by 1001 GMT. In Britain, the day-ahead contract ...

Asia’s gasoline margins climbed above $10 on Thursday, as overall demand continued to rise on the back of a seasonal jump. The crack jumped to $10.21 per barrel over Brent crude, from $9.09 on Wednesday. In naphtha, the margins climbed by $2.65 to $82.83 per metric ton over Brent crude. The backwardation between second-half January and second-half February narrowed to $1.75. NEWS Oil prices were mostly stable ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply ...

On the US East Coast, small but steady renewable diesel deliveries have averaged 12.9 million gallons per quarter through 2024 and reached a record 14.4 million gallons in the third quarter. The US Energy Information Administration reported that 57% of East Coast imports originated from Singapore, 37% from Finland and 6% from the Netherlands. RD adoption has gained significant traction on the East Coast in 2024, with several milestones marking its growth. New York City Mayor Eric Adams said Oct. 4 that the city’s fleet of 12,500 heavy-duty and off-road ...

U.S. natural gas futures edged up about 1% on Thursday on forecasts for cooler weather and more heating demand over the next two weeks than previously expected, and rising amounts of feed gas flowing to the nation’s liquefied natural gas (LNG) export plants. That slight price increase also came ahead of a federal report expected to show that utilities pulled a near-normal amount of gas out of storage during mostly seasonally normal weather last week. Analysts said utilities likely added 1 billion cubic feet (bcf) of gas to storage during ...

There are delays in the supply of Russian oil being delivered to the Czech Republic via the Druzhba pipeline, Czech refiner Orlen Unipetrol said on Wednesday, but noted its operations have not been affected. “Production of fuel is going on without interruption and availability on the Czech market is not threatened,” Unipetrol, owned by Polish company Orlen PKN.WA, wrote on social media platform X. “This is not an exceptional situation in the first days of the pumping month,” Orlen said in emailed response to questions from Reuters. Czech pipeline operator ...

Dutch and British wholesale gas prices dipped on Wednesday morning as temperatures were expected turned warmer and windier weather curbed demand for gas. The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 0.67 euro at 47.80 euros per megawatt hour (MWh), or $14.69/mmbtu, by 0910 GMT. The Dutch day-ahead contract TRNLTTFD1 edged down 0.80 euros to 47.60 euros/MWh. In Britain, the day-ahead contract TRGBNBPMc1 fell by 2.25 pence to 118.90 p/therm. “A warmer and windier revision in weather forecasts for the end of next week in Europe ...

Pakistan has deferred its liquefied natural gas (LNG) contract with Qatar for a year, Petroleum Minister Musadik Malik said on Wednesday, adding that the country will now get LNG cargoes from Qatar in 2026 instead of 2025. Annual power use in Pakistan, which gets over a third of its electricity from natural gas, has declined 8-10% year-on-year over the past three quarters, the country’s power minister told Reuters in November, primarily due to higher tariffs curbing household consumption. The South Asian nation has deferred five LNG cargoes from Qatar and ...

Shell SHEL.L, BP BP.L, Aramco and Glencore are among nearly two dozen firms Bangladesh has approved as suppliers of spot liquefied natural gas (LNG) as it seeks to boost competition and cut costs, the country’s top energy official told Reuters. Bangladesh’s spot market was previously dominated by Vitol, Gunvor and Excelerate Energy, said Muhammad Fouzul Kabir Khan, the country’s de facto energy and power minister. But after the ousting of Prime Minister Sheikh Hasina in August, the interim government is moving to an open instead of private tender. The country ...

Gas prices across the US Great Lakes and the Northeast are in for more volatility over the next several days as a winter storm now centered over southern Canada promises to bring artic air and snow to the region. In Dec. 3 trading, cash prices at Transco Zone 6 New York, Iroquois Zone 2 and Mich Con city-gate retreated from recent highs recorded ahead of and immediately after the US Thanksgiving Holiday weekend. In the New York metro area, gas prices Dec. 3 were moving around $2.80-$2.90/MMBtu – down from ...

Asia’s gasoline margins climbed further on Wednesday as the market watches ongoing developments in US-China trade relations, affecting the world’s two largest consumers of gasoline. The crack rose to $9.09 per barrel over Brent crude from $8.23 on Tuesday. China’s gasoline exports are expected to have rebounded in November after refiners dashed to secure higher profits before the reduction in export tax rebates – from 13% to 9% – took effect this month, analysts and traders said. An LSEG analyst added that gasoline exports are expected to decline again after ...

Asia’s refining margin for gasoil fell to its lowest in five weeks, weighed by sufficient supply and inventories in the region despite capped Chinese exports. The prompt-month crack for 10ppm sulphur gasoil slipped to a premium of about $14.60 a barrel on Wednesday, based on LSEG data. However, a firmer-priced spot trade lifted its cash premium up slightly on Wednesday, with Vitol buying a cargo from Aramco for prompt dates in the H2-December laycan. Meanwhile, jet fuel firmed in recent sessions, with cash premium holding near a three-week high, though ...

U.S. natural gas futures slid about 2% to a two-week low on Wednesday on rising output and forecasts for milder weather over the next two weeks than previously expected. Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange fell 5 cents, or 1.6%, to $2.992 per million British thermal units (mmBtu) at 8:02 a.m. EST (1302 GMT), putting the contract on track for its lowest close since Nov. 18. With the March-April “widow maker” spread now trading in unusual contango this week with the April contract ...

Northwest European diesel profit margins softened by around 50 cents to $17 a barrel on Wednesday after data showed a much larger than expected build in U.S. inventories. U.S. distillate stockpiles, which include diesel and heating oil, rose last week by 3.4 million barrels 118.1 million barrels, versus expectations for a 900,000-barrel rise, EIA data showed. Shell completed a two-month long maintenance shutdown at its 400,000 barrel per day Pernis oil refinery in Rotterdam in the Netherlands on Wednesday and is currently restarting units at the plant, the company saidon ...

Asia’s middle distillate markets diverged on Tuesday, with the gasoil market softening and jet fuel strengthening. Cash premium for 10ppm sulphur gasoil dropped further, with the product trading softer day-on-day, while refining margins inched lower to premiums of $15.15 a barrel. India’s MRPL is selling more gasoil/diesel for loading in December. The cargo of 45,000 to 60,000 metric tons is expected to load between Dec. 22 and 23. Additionally, the refiner offered 40,000 tons of jet fuel/kerosene for loading between Dec. 19 and 21. Both tenders close on Tuesday. Meanwhile, ...