Page 24 - Dated Brent News Today

Supply disruptions out of Kazakhstan, the North Sea and Libya and dislocations to typical trade flows as the market adapts to the Russia situation have driven the European crude market structure into an extreme backwardation, with buyers being forced to pay hefty premiums for prompt cargoes. The extreme backwardation — where prompt cargoes trade higher ...

Russian oil exports grew by 12% in the first five months of 2022, Deputy Prime Minister Alexander Novak said June 17, as demand persists, despite Western sanctions reducing oil exports to Europe. “This means that our oil and oil products are in demand today around the world,” Novak said during the St Petersburg International Economic ...

Two prominent oil industry groups in a June 16 letter addressed to President Joe Biden outlined the realities faced by US refiners in response to his June 14 letter requesting they meet with the Department of Energy to find a way to increase gasoline and diesel output to bring down the price of gasoline and ...

Market observers expect Middle Eastern crude flows to Europe to surge as Russian barrels are displaced. Iraq has opted to undercut its regional rivals in o...

Russia is close to restoring its oil production volumes to February levels, the Prime news agency reported June 16, citing Deputy Prime Minister Alexander Novak as saying. Russia’s oil output fell significantly following Russia’s invasion of Ukraine, which triggered extensive Western sanctions and led traditional key buyers in Europe to significantly reduce purchases of Russian ...

Unwavering and exceptionally strong product cracks for diesel and jet fuel have steadied Nigerian crude values against increasingly challenging arbitrage flows to key markets, contrary to some expectations earlier in the July trade cycle. Arbitrages to Asia and Europe for Nigerian grades have looked increasingly arduous given historic levels of backwardation in Dated Brent. Steep ...

Cash differentials for August-loading barrels of Asia-Pacific sweet crude barrels are poised to maintain firmer footings on the month on the back of resilient middle distillate product cracks, despite a longer loading program seen for Malaysia’s flagship Kimanis crude, traders told S&P Global Commodity Insights June 17. The demand is there, buyers are ramping up ...

Hurricane Energy, the UK based oil and gas company, has provided an update on Lancaster field operations and net free cash balances as of 31 May 2022.

As the world grapples with high grains and oilseeds prices due to tight supplies, high input costs and geopolitical conflicts, more expensive logistics in agricultural powerhouses US and Brazil are also adding to overall cost of the commodities. And these expenses are further burdening consumers. The US is one of the major suppliers of corn, ...

Global oil supply may struggle to keep up with demand in 2023 as a resurgent China comes when Russia begins to feel the full force of sanctions, the International Energy Agency warned in its latest monthly oil market report June 15. Despite triple digit oil prices for much of 2022, a Dated Brent benchmark that ...