Home / Oil & Energy / General Energy News (page 5)

General Energy News

Asia Distillates: Feb refiner sales continue; cash premiums decline

Asia’s middle distillates markets recorded a slew of February spot tenders as a handful of refiners continued to clear their requirements, while margins slipped to a near two-month low. Offers stayed brisk, with South Korea’s GS Caltex continuing its sales in line with earlier expectations, though some traders are expecting February offers to be slightly fewer than January ahead of the refinery maintenance season. At least one China refiner was also in discussion for some February cargoes, though further details could not be confirmed. Meantime, Vietnam’s Petrolimex sought its February ...

Read More »

Asia Distillates: Refiner Feb sale prices volatile; no physical window deals

Asia’s middle distillates markets continued to record a bout of thin spot activity on the trading window, with no physical deals for a second straight session, though some refiner sales for February carried on and spot discussion levels turned volatile. China’s diesel exports for February were currently estimated at 400,000-500,000 metric tons, slightly higher from last month given the strength in export margins. Worries about local inventories being insufficient may curb near-term exports from growing, two China-based trade sources said. Meanwhile, volumes of 10ppm sulphur gasoil from South Korea are ...

Read More »

US natgas prices ease to fresh one-week low on Freeport LNG outage, less cold forecasts

U.S. natural gas futures eased about 1% to a fresh one-week low on Wednesday after Freeport LNG’s export plant in Texas shut and on forecasts for less cold weather in late January and early February that should reduce heating demand. With temperatures across the country averaging their lowest in at least five years on Tuesday, demand for gas hit new daily record highs on Monday and Tuesday while spot power and gas prices rose to multi-year highs in several parts of the country. Front-month gas futures for February delivery on ...

Read More »

Europe Gas: Prices largely stable amid warmer, windier weather

Dutch and British wholesale gas prices were little changed on Wednesday morning as forecasts for warmer and windier weather curbed demand for gas. The benchmark front-month contract at the Dutch TTF hub (TRNLTTFMc1) was up 0.01 euro at 49.93 euros per megawatt hour (MWh), or $15.25/mmbtu, by 0917 GMT according to LSEG data. The Dutch day-ahead contract (TRNLTTFD1) was down 0.25 euro at 50.25 euros/MWh. In Britain, the front-month contract (TRGBNBPMc1) contract edged up 0.61 pence at 127.08 p/therm. “Our… outlook for TTF DA is moderately bearish mainly due to ...

Read More »

Energy demand, prices surge as massive winter storm freezes most of US

A massive winter storm stretched from Canada to Florida and South Texas Jan. 21, boosting power demand and prices into triple digits in several locations and cutting power to more than 45,000 Texas customers due to ice on power lines. The National Weather Service showed warnings of “extreme cold,” winter storm and freezing conditions prevailing across most areas in the Rocky Mountains, eastward to the Atlantic and southward to Mexico and the Gulf of Mexico. CustomWeather forecast population-weighted temperatures in the Southeast to average 33.6 degrees F on Jan. 21 ...

Read More »

U.S. retail gasoline prices to decrease in 2025 and 2026 with lower crude oil price

In our January Short-Term Energy Outlook, we now forecast U.S. retail gasoline prices through the end of 2026. We estimate U.S. average gasoline prices in 2025 will decrease by 11 cents per gallon (gal), or about 3%, compared with 2024. In 2026, we forecast a further decrease of about 18 cents/gal, or an additional 6%. The lower U.S. gasoline prices are primarily a result of lower crude oil prices, as well as decreasing gasoline consumption in 2026 because of increasing fleetwide fuel economy. Decreasing U.S. refinery capacity over the forecast ...

Read More »

Brazil’s gasoline demand decreases, diesel rises on year in 2024: ANP

Gasoline C demand lowered while diesel B demand increased in the Brazilian retail market in 2024, with overall fuel sales reaching 134.8 million cu m, up 3.88% year over year, according to data from the National Agency of Oil, Gas and Biofuels, or ANP. In a battle against hydrous ethanol, gasoline C (27.5% ethanol blend) lost market share, closing the year at around 44 million cu m sold at the pump — an overall 4.12% decrease in demand on the year, according to ANP data. Whether that drop continues through ...

Read More »

Europe Gas Prices rise on low storage, LNG concerns

Dutch and British wholesale gas prices mostly rose on Tuesday morning, as withdrawals from gas storage sites and some uncertainty over liquefied natural gas (LNG) supply continued to provide support. The benchmark front-month contract at the Dutch TTF hub (TRNLTTFMc1) inched up by 0.78 euro to 48.50 euros per megawatt hour (MWh), or $14.70/mmBtu, by 0914 GMT, according to LSEG data. The Dutch contract for March (TRNLTTFMc2) was 0.93 euro higher at 48.58 euros/MWh, but the day-ahead contract (TRNLTTFD1) was 0.12 euro lower at 49.48 euros/MWh. In the British market, ...

Read More »

Asia Distillates: Window activity thins; some bullishness evident for forward markets

Asia’s middle distillates markets were thinly discussed on Tuesday, with limited physical trading activity and fewer February refiner offers emerging, though bullishness for forward markets was evident. Continued weakness in ICE gasoil markets over the past few trading sessions contributed to the slightly thinner activity, but traders were still bullish about forward markets. Supplies may tighten soon given planned maintenance programmes in northeast Asia, together with the lower crude runs in China from teapots, two trade sources said. However, refining margins (GO10SGCKMc1) bucked the uptrend and reversed earlier gains, slipping ...

Read More »

US natgas futures fall 4%, while extreme cold boosts spot prices to multi-year highs

U.S. natural gas futures fell about 4% to a one-week low on Tuesday even as extreme cold across much of the country boosted spot gas and power prices to multi-year highs in several regions and with gas heating demand expected to reach a record high. Futures prices declined because freezing weather over the long U.S. Martin Luther King Jr. holiday weekend did not do much to reduce gas output and the latest weather forecasts continued to call for less cold and lower heating demand next week. Front-month gas futures for ...

Read More »

Asia Middle Distillates: Feb refiner sales continue; margins at 6-mth high

Asia’s middle distillates markets continued to see February spot sale activities from northeast Asian refiners against a backdrop of firmer paper swaps – with margins starting the trading week at a six-month high. More spot sales for February cargoes emerged from a handful of northeast Asian refiners, in line with expectations, as they sought to clear their regular requirements. SK Energy was offering more 10ppm sulphur gasoil, while China’s WEPEC was offering jet fuel. Floating sale prices linked to free on board (FOB Singapore) quotes, however, remained in the discounted ...

Read More »

Europe Gas Prices ease on milder weather ahead of Trump inauguration

Dutch and British wholesale gas prices declined on Monday morning due to milder weather forecasts for the rest of this month, stronger wind output, easing tension in the Middle East and as Donald Trump was due to be sworn in as U.S. President. The benchmark front-month contract at the Dutch TTF hub (TRNLTTFMc1) was down 1.07 euro at 46.33 euros per megawatt hour (MWh), or $14.01/mmbtu, by 0926 GMT according to LSEG data. The Dutch contract for March (TRNLTTFMc2) was 0.68 euro lower at 46.53 euros/MWh. In Britain, the front-month ...

Read More »

Asian spot LNG slips amid healthy stocks, weak demand

Asian spot liquefied natural gas (LNG) prices slightly declined this week, weighed by healthy inventory levels in the region and weak demand. The average LNG price for March delivery into north-east Asia (LNG-AS) slipped to $13.90 per million British thermal units (mmBtu), versus $14.00/mmBtu last week, industry sources estimated. “The slight decrease was attributed to weak demand in Asia, as buying interest remained muted despite colder weather, owing to healthy inventory levels,” said Go Katayama, an analyst at data and analytics firm Kpler. “Going forward in Asia for the week ...

Read More »

China refinery throughput in rare decline as EVs contribute to weakening demand

China’s oil refinery throughput in 2024 fell for the first time in more than two decades barring the pandemic-hit year of 2022, government data showed on Friday, as plants tempered operations in response to stagnant fuel demand and depressed margins. The world’s second-largest refining industry after that of the U.S. processed 1.6% less crude oil last year at 708.43 million metric tons, the National Bureau of Statistics said. The figure amounts to about 14.13 million barrels per day, Reuters calculations showed, slipping from the record 14.7 million bpd set in ...

Read More »

Gasoline margins extend fall, posting weekly loss on firm stockpiles

Asia’s gasoline refining margins extended declines to a third straight session on Friday, ending the week lower, as steady inventory levels and tepid demand prospects weighed on the market. The crack (GL92-SIN-CRK) ticked down $0.40 from the previous day to $4.33, its weakest level since Nov. 14, amid muted trading activity on the day. Stocks of the motor fuel held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose marginally on the week to a new record high, data from Dutch consultancy Insights Global showed on Thursday. Gasoline stocks stood ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping
error: Content is protected !!
×