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(Reuters) – Fuel oil exports bound for the U.S. Gulf Coast slumped to their lowest level since January 2019 last month, a sign of weakened refinery demand as margins have softened, analysts said. Feedstocks like high sulfur fuel oil and other heavy residues can be refined into higher value products such as gasoline and diesel …
U.S. Gulf Coast-Bound Fuel Oil Cargoes Hit 5-Yr Low as Refinery Demand Weakens Read More »
Sept 6 (Reuters) – Bank of America Global Research on Friday downgraded its 2025 Brent price forecast by $5 to $75 per barrel, citing weaker demand, particularly from China, and significant inventory builds. According to the bank’s analysts, subdued global oil demand growth of 1.1 million barrels per day (bpd) year-on-year in 2025, combined with …
BofA Lowers 2025 Brent Forecast by $5/bbl on Softer Demand Read More »
By Katrina Hamlin HONG KONG, Sept 6 (Reuters Breakingviews) – China’s electric cars have zoomed into a new era of battery-powered driving. Now models such as BYD’s (002594.SZ) Seal and Great Wall Motor’s (601633.SS) Funky Cat face an international backlash. The U.S. is quadrupling duties on imports of electric vehicles from the People’s Republic to …
Sharp declines in gasoline prices tend to come with economic downturns or other nasty market shocks, not by presidential decree. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. Former President …
(Reuters) – The Canadian Association of Petroleum Producers (CAPP) on Thursday urged the country’s Competition Bureau to make changes to anti-greenwashing legislation passed earlier this year, and repeated calls for recent amendments to the law to be scrapped entirely. CONTEXT The Competition Bureau is developing guidance on how companies should interpret recent changes to Canada’s Competition …
Canada Oil Industry Group Calls for Changes to Anti-Greenwashing Laws Read More »
JPMorgan expects OPEC+ to maintain its current production levels for at least another year, leading to an average price of $75 for Brent crude in 2025, JP Morgan said in a note on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, on Thursday said they agreed to delay a …
JPMorgan Sees OPEC+ Holding Output Steady for Another Year Read More »
By Ernest Scheyder Piedmont Lithium’s headquarters is seen in Belmont, Gaston County, North Carolina, U.S., July 16, 2021. Picture taken July 16, 2021. REUTERS/Ernest Scheyder/File Photo Summary CEO cites market conditions, plans to reapply for DOE loan later Company faces financial stress amid 83% drop in lithium prices Piedmont cancels Tennessee project, N.Carolina plans face delays …
Piedmont Lithium Pulls U.S. Government Loan Application as Prices Slump Read More »
(Reuters) – U.S. natural gas company Williams Cos is on track to add 12 projects representing about 4.2 billion cubic feet per day (bcfd) of capacity from 2024-2027, company CEO Alan Armstrong said at the Barclays CEO Energy-Power Conference on Wednesday. The additions come after the company placed 17 projects representing about 5.0 bcfd of …
(Reuters) – U.S. crude oil and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures on Wednesday. The API figures showed crude stocks fell by 7.431 million barrels in the week ended Aug. 30, the sources said, speaking on condition of anonymity. Gasoline inventories fell by 336,000 barrels, and distillates …
API Shows Weekly US Crude, Fuel Stockpiles Fall, Market Sources Say Read More »
Sept 4 (Reuters) – If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose …
Citi Says 2025 Oil Prices Could Average $60/bbl Without Deeper OPEC+ Cuts Read More »
