Page 24 - Arab Medium News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Saudi Arabia may raise light crude prices for Asia in April Top oil exporter Saudi Arabia is expected to raise its official selling prices (OSPs) for light crude grades for Asia in April, tracking stronger Middle East benchmarks and refining margins, a Reuters survey showed on Tuesday. Sources at five Asian refiners expect the April OSP for flagship Arab Light crude to increase by an average of 16 cents a barrel, which would take it to the highest level since August last year. Their forecasts ranged from increases of 5 cents to 30 cents, in line with gains in benchmarks DME Oman and cash Duba...

China’s state-run refineries, modern integrated plants embrace new Iraqi Basrah Medium crude China is poised to receive about 21 million barrels of the new Iraqi crude grade Basrah Medium by mid March, with most of these shipments expected to be processed by the country’s integrated refining complexes and newly built plants, according to latest shipping data and refining industry sources with close knowledge of the matter. In January, Iraq’s State Oil Marketing Organization introduced the new Basrah Medium grade to split Basrah Light into two crudes to support the stability of its crude...

Saudi Aramco, the largest oil producer in the Middle East, kept the official selling prices for all of its Asia-bound crude oil grades unchanged for March, largely in line with market expectations, traders told S&P Global Platts Feb. 5. Aramco kept the March OSP differential for its Arab Light crude steady from February, when it ...

REFINERY MARGIN TRACKER: Rising RINs costs pump up US refinery margins US refining margins rose last week as higher RINs prices increased the cost of meeting the Renewable Fuel Standard mandate, with RINs for both ethanol and biodiesel breaching the $1/RIN price, an analysis by S&P Global Platts showed Feb. 1. For the week ended Jan. 29, the price of an ethanol RIN rose almost 11 cents/RIN from the week earlier to reach $1.01/RIN while biodiesel RINs rose over 9 cents/RIN to $1.15/RIN, according to Platts assessments. While RINs are a cost, refined products prices are inflated by those RINs. ...

2 hours Hedge Funds Capitalized On Oil Price Pullback 4 hours Canada’s Green Shift Could Displace Three-Quarters Of Oil Workers 5 hours Oil Trading Giant Vitol Sees Revenues Drop In 2020 7 hours BP On Track To Meet Net Debt Target Ahead of Schedule 24 hours U.S. Energy Consumption Saw Biggest Decrease Ever Last Year 1 day Copper Prices Jump After Leading Producer Chile Closes Its Borders 1 day Record High COVID Cases Could Stall India’s Oil Imports 1 day Lawsuits...