Oil

Latest news from the commodity market. Updates on commodity trading, prices and futures news.

Oil

November 18, 2019

Shell Traders Post $1 Billion Profit in Fuel Oil Market

Royal Dutch Shell Plc has made $1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to...

November 14, 2019

The Spike in Oil-Tanker Rates May Be Over, But a Boom Is Coming – report

A surge in the cost of hiring oil tankers last month may already seem like a distant memory, but the rally was enough to convince...

November 14, 2019

Growth in global oil demand to slow from 2025 – IEA

Growth in global oil demand is expected to slow from 2025 as fuel efficiency improves and the use of electric vehicles increases, but consumption is...

November 6, 2019

Saudi Oil Pricing Shows IMO 2020 Demand Lift for Light Crude

Saudi Arabia has priced its lighter crude at the widest premium to heavier oil in almost two years as new rules mandating cleaner shipping fuels...

November 4, 2019

Saudi Aramco kick-starts what could be world’s biggest IPO, offers scant details

Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in...

October 30, 2019

Unipec resumes bookings of COSCO-owned tankers – sources

Chinese oil trader Unipec has restarted using tankers owned by state-owned shipping group COSCO after the United States eased sanctions temporarily on the Chinese state-owned...

October 25, 2019

Norway’s New Crude a Threat to Rivals in Prized Asia Market

Norway’s new oil grade is making inroads in Asia, threatening to undermine sales of similar crudes from Africa and South America. (more…)

October 25, 2019

China’s CNOOC: COSCO sanctions have impact, but oil and gas output unaffected

CNOOC, China’s largest offshore oil and gas producer, on Thursday said it would be affected by U.S. sanctions on its COSCO shipping firm but there...

October 23, 2019

China Dominates in Oil Tanker Market as Refiners Prepare for IMO 2020

China’s demand for crude oil shows no signs of abating. (more…)

October 21, 2019

Carlyle Group quits $1 billion U.S. oil export project

Carlyle Group said on Friday it had dropped out as a stakeholder in Lone Star Ports LLC, which proposed a $1 billion crude oil export...

October 18, 2019

Asian Buyers Seek Oil From Closer to Home as Shipping Costs Soar

Soaring oil tanker costs are boosting Asian demand for crude grades produced closer to home. (more…)

October 17, 2019

Oil Trading in U.S. Gulf Dries Up as Tanker Rates Skyrocket

Soaring oil-tanker costs are drying up activity in the U.S. export market as sellers are slow to lower offers and buyers are skittish, according to...

October 16, 2019

U.S.-Asia Tanker Rates Slip from Record Highs as Tanker Fears Ease

Freight rates to ship U.S. crude to Asia eased on Tuesday from record levels as the shock of a global tanker shortage due to U.S....

October 14, 2019

Asian oil buyers grapple with rising costs as global freight rates jump

Asian oil refiners are grappling with a jump in global freight rates that shows no sign of abating, driving up costs of crude imports from...

October 10, 2019

COSCO Dalian’s ships shut off tracers after U.S. sanctions announced

About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on...