Page 5 - Platts Dated Brent News Today

High oil prices are likely to lead to demand destruction amid a scarcity of crude and little spare capacity globally as the disruption to energy supplies from Russia as a result of financial sanctions and its attacks on Ukraine escalates, the head of Vitol Asia said March 6. “The world does not have enough spare ...

Abu Dhabi National Oil Co. hiked the April official selling price for its flagship Murban crude oil by more than 10% from March, with Middle East crudes seeing greater demand as traders seek alternatives to Russian barrels. The April OSP for Murban was set at $93.99/b, up $8.88/b from the March OSP, the company said ...

Russia’s invasion of Ukraine has seen some of the harshest sanctions ever imposed on a nation and disrupted trade flows of energy and other commodities, even though such goods have not been directly sanctioned. Russia was China’s second largest crude oil supplier in 2021, accounting for around 15.5% of China’s total imports. Chinese buyers of ...

The spot market for trading carbon-accounted crude — including carbon credits and measuring the carbon intensity of the oil — is on the rise with S&P Global Platts launching a Market on Close assessment process for these transactions, similar to the window used to assess the Platts Dated Brent price benchmark. The new assessment process ...

The December-loading program for Malaysia’s Kimanis crude emerged Oct. 12, shedding light on the supply-side fundamentals of Malaysian sweet crudes, while a mixed outlook developed for the December trading cycle, according to market sources. The December-loading program for Kimanis crude reflected a total of eight cargoes, three more than the previous month, with Petronas holding ...

November-loading heavy sweet crude cargoes have traded at lower prices than for October despite initial expectations of increases on the back of gas-to-oil switching by power utilities amid amid skyrocketing LNG prices, market sources said Oct. 12. Most recently, Petronas was heard to have sold via tender a 600,000-barrel cargo of Sudan/South Sudan’s Dar Blend ...

London — Norways Equinor together with Shell, Total and the US ConocoPhillips have agreed a plan to extend provision of low-carbon electricity to the giant Troll field, as the country increases its lead over the UK industry both in production and the decarbonization of the industry. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In a statement, state-controlled Equinor said the partners would spend nearly $1 billion ...

Singapore — Spot cash premiums for June-loading barrels of Malaysian and Vietnamese crude oil have eased on the month amid demand concerns as COVID-19 cases spike in Asia, ample availability of arbitrage cargoes, and a wide Brent/Dubai EFS, market participants said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now COVID-19 resurgences in key demand centers in Asia, such as Thailand and India, raised concerns on demand ...

Asia crude: Key market indicators this week Asia’s crude oil market continued to surge above $70/b at the start of the week March 8-12, after Saudi Arabia’s energy ministry reported a drone attack by Iranian-backed Houthi rebels from Yemen on the morning of March 7, that hit a petroleum storage tank at the Ras Tanura port. May ICE Brent crude futures was pegged at $71.17/b at 0300 GMT March 8, $3.50/b higher from the 0830 GMT Asian close on March 5. MIDDLE EAST CRUDE **The week commences wi...

Spot premiums of Australia’s Vincent crude hit a new record amid strong demand for low sulfur marine fuel, trade sources said. Two 550,000-barrel cargoes of Vincent crude for March-loading were heard to have traded at premiums of around $11.50/b to Platts Dated Brent crude assessments, FOB, much higher compared to the high-$9s/b premiums heard for ...