A wave of new oil refining capacity that’s coming on stream won’t be enough to solve a global shortage of diesel, jet fuel and similar petroleum products. That’s the takeway from the Paris-based International Energy […]
Global diesel and gasoline markets are witnessing blowout crack spreads in the US$50-60 per barrel (bbl) range, reflecting a clear lag in the refining system to respond effectively and decide between supplying diesel or gasoline. […]
In response to Friday’s worse-than-expected inflation reading, which makes another drastic rate hike a foregone conclusion ahead of this week’s Fed meeting, stocks were getting hammered on Friday and Monday. The S&P 500 dropped 2.9 […]
The spot price of liquefied natural gas (LNG) in Asia has largely shrugged off an outage at a major U.S. export plant, amid signs that demand in the world’s top-importing region remains tepid. The explosion […]
U.S. refining capacity could take a hit from an earlier than planned closure of a major refinery in Houston, which could worsen the refining and fuel crunch in the country. LyondellBasell—which announced in April that it would […]
The most expensive gasoline in the United States can be found at the Chevron station in Mendocino, California, where a gallon of regular unleaded will set you back $9.46, and it would cost $289 to fill […]
Gas prices have more than doubled under President Biden’s administration. Since Biden took office in January 2021, the price for a gallon of gas has doubled. On Jan. 20, 2021, the average price for a gallon […]
Stocks, the dollar and crude oil firmed on Monday as investors positioned themselves for more direction on interest rates and the economy from a string of central bank meetings spilling into next week. The European […]
Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to […]
(Bloomberg) — OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including […]
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