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Refining Margins

All articles tagged with #refining margins

energy9 days ago•18 min saved

Diesel Cracks Rally to Fresh Records as Global Fuel Squeeze Intensifies

Diesel markets are tightening to record highs as Middle East tensions and Russia’s diesel export bans, along with Ukrainian disruptions, curb supply via Hormuz. The ICE gasoil crack climbed to about $79 per barrel, US diesel cracks hover above $100, and the Sep/Nov spread shows backwardation around $80/ton, signaling tight near-term supply. With limited slack in refining capacity and ongoing demand, cracks are expected to stay elevated and volatile, underpinning stronger refiner profits per banks like Goldman Sachs.

via Crude Oil Prices Today | OilPrice.com|

#diesel #energy #hormuz

markets24 days ago•336 min saved

Global fuel crunch triggers record refining margins as markets brace for storms

Oil remains costly as a cascade of supply shocks—from Hormuz disruptions and Middle East conflict to Russia’s war impacts and export curbs—keeps fuel tight. The diesel crack spread vaulted to a record $102 per barrel, signaling booming refiners’ profits even as Gulf Coast plants run flat-out ahead of hurricane season. China’s export limits, along with outages and sanctions, keep gasoline, diesel and jet fuel prices elevated, risking inflation with potential demand destruction if margins stay wide longer.

via CNN|

#diesel-crack-spread #geopolitics #markets

business1 month ago•6 min saved

Oil Majors Ride War-Driven Price Surge to Record Profits

The closure of the Strait of Hormuz amid the Iran war has pushed crude prices higher, enabling major oil companies to report multi‑billion quarterly profits as upstream and refining margins improve, while consumers face elevated fuel prices in the US and Europe and policymakers pressure for relief.

via Al Jazeera|

#big-oil #business #iran-war

energy1 month ago•18 min saved

Diesel Crunch Takes Center Stage as Oil Markets Tighten, Goldman Says

Goldman Sachs says diesel is at the epicenter of a widening global fuel crunch driven by war-related refinery outages in the Middle East and Russia. July refining throughput has fallen as much as 6.5 million barrels per day vs. a year ago, with diesel exports down about 2.6 million bpd (roughly 35%), leaving middle-distillate inventories below seasonal norms and pushing refining margins to record highs as gasoline, diesel, and jet fuel supplies tighten.

via Crude Oil Prices Today | OilPrice.com|

#diesel #energy #goldman-sachs

energy6 months ago•21 min saved

Jet Fuel Cracks Leap to Fresh Highs as Hormuz Turbulence Tightens Markets

Jet fuel cracks to record highs as Iran-related conflict disrupts Strait of Hormuz, tightening supply for Asia and Europe. Singapore jet fuel jumped about 140% to around $230 per barrel, while Europe’s jet premium to crude widened, with cracking margins surging to new records. The stress in jet fuel outpaced crude due to storage constraints and refinery constraints, with roughly 20% of global jet exports passing through Hormuz. If disruptions persist, airlines and consumers could face sustained higher costs and refining runs may stay restrained even if tensions ease.

via Crude Oil Prices Today | OilPrice.com|

#energy #jet-fuel #middle-east-crisis

business2 years ago•1 min saved

Shell Reports $6.2 Billion Q3 Profit and $3.5 Billion Share Buyback

Shell reported a third-quarter profit of $6.2 billion, benefiting from higher oil prices and refining margins. The profit was in line with estimates but marked a decline from the previous year. The company also announced a $3.5 billion share buyback. Shell's CEO stated that the company delivered strong operational and financial performance, capturing opportunities in volatile commodity markets. Free cash flow fell, while cash capital expenditure rose. Energy majors, including BP and TotalEnergies, have been impacted by soaring fossil fuel prices.

via CNBC|

#business #oil-prices #profit

business3 years ago•3 min saved

BP's Profit Plummets 70% but Dividend Gets a Boost

BP's second-quarter profit dropped 70% to $2.6 billion, missing forecasts, due to weak refining margins and oil trading income. However, the energy giant still increased its dividend by 10% and plans to repurchase $1.5 billion of its shares. BP's weaker results were attributed to declining refining margins, higher maintenance activity, and weaker trading results. The company's net cash flow was negative, and its debt-to-capital ratio increased. BP expects oil prices to be supported in the third quarter, but the European gas and Asian LNG markets may be at risk. The company aims to expand its renewables and low-carbon business while reducing oil output by 25% by 2030.

via Reuters|

#bp #business #dividend

energy3 years ago•3 min saved

Oil Prices React to Mixed Economic Data and Investment News

U.S. gasoline and diesel inventories are below the five-year average, indicating strong fuel demand and supporting crude oil prices and U.S. refining margins. Despite optimistic views on summer fuel demand, oil prices have fallen due to concerns about the economy and high interest rates. However, the International Energy Agency predicts a tightening market in the second half of the year, with demand expected to exceed supply by almost 2 mb/d. Refining margins have fallen since Q4 2022 but remain higher than historical norms, and U.S. refiners are optimistic about cracks going forward.

via OilPrice.com|

#diesel #energy #fuel-demand