Idemitsu Kosan, Japan's second-largest oil refiner, has begun sourcing Saudi crude from Yanbu via the Suez route and the Cape of Good Hope and sees no near-term threat to stable supplies, helped by UAE crude routed via Fujairah and imports from North America, its president said on Tuesday. "If you set aside longer shipping times and higher transportation costs, we don't expect any significant disruption to crude procurement," President Noriaki Sakai told Reuters. Attacks by Yemen's [Read more]
News
Canada’s pipeline ambitions hinge on uncertain output expansion
Canadian pipeline firms are proposing billions of dollars in new projects despite oil sands companies being reluctant to commit to significant production expansions amid ongoing uncertainty around climate policies and long-term global demand. At least six different pipeline projects are underway or proposed in Canada, to move oil to the United States or to export markets on the Pacific coast. If all are built, the country's export pipeline capacity would increase by 45%, or 2.25 million barrels [Read more]
Proposed Canadian crude oil pipeline projects
A series of new Canadian crude oil export pipeline projects could help the world's fourth-largest oil producer meet global demand and come closer to achieving Prime Minister Mark Carney's "energy superpower" ambition. At least six different pipeline projects are underway or proposed, which together could increase the country's export pipeline capacity by 2.25 million barrels per day by 2035 and ultimately boost Canada's oil exports, according to a Reuters calculation. Below is a [Read more]
Oil market starts pricing in a prolonged Hormuz crisis: Bousso
The oil market is increasingly behaving as though disruptions to Middle East energy supplies are not a temporary shock but a new reality. Nearly six months after war erupted between the U.S. and Iran, hopes for a diplomatic breakthrough have faded. An interim ceasefire agreed on June 17 has effectively collapsed, the 60-day negotiating period has expired, and neither Washington nor Tehran appears willing to compromise over the future of the Strait of Hormuz. Instead, both sides are digging [Read more]
Hormuz Strait to remain shut until U.S. meets interim deal conditions, Iran says
The Strait of Hormuz will remain shut until the U.S. meets the conditions of an interim deal signed with Iran in June, the top Iranian negotiator Mohammad Baqer Qalibaf said in comments published by state media on Tuesday. These conditions include the U.S. liftingits blockade of Iranian ports, lifting oil sanctions,releasingTehran's frozen assets, and ending threats and military operations on all fronts, Qalibaf told parliament. The memorandum of understanding, clinched on June 17, quickly [Read more]
Selling grips bond markets from US to Japan as inflation, fiscal worries take hold
Long-term borrowing costs from the United States to Japan and Germany rose to their highest levels in decades on Tuesday, as renewed inflation worries added to lingering concerns of fiscal pressures across major economies, dealing bond markets a fresh blow. Thirty-year bond yields in the United States, the world's most systemically crucial government bond market, hit their highest since 2007 as oil prices rose back above $90 a barrel, fanning inflation worries as U.S.-Iran peace hopes [Read more]
Vessel struck by unknown projectile in Strait of Hormuz, crew casualty reported, UKMTO says
The United Kingdom Maritime Trade Operations (UKMTO) received a report on Tuesday that a vessel was struck by an unknown projectile while transiting outbound in the Strait of Hormuz, causing engine room damage and a crew casualty, with the remaining crew being assisted by the Omani Coast Guard. No environmental impact has been reported and authorities are investigating, UKMTO said. The incident comes as shipping through the Strait of Hormuz remains severely disrupted, with vessel crossings [Read more]
Oil climbs as fading US-Iran peace hopes raise supply risks
Oil prices rose on Tuesday as a deal to end the Middle East war seemed further out of sight with Iran saying it will adopt a more offensive stance and the U.S. ruling out extending a ceasefire agreement, heightening worries about energy supply. Iran will shift to a "fully offensive" military posture because efforts to negotiate a permanent end to the war with the U.S. have stalled, a senior Iranian official told Reuters on Monday, as Washington ruled out extending a temporary ceasefire [Read more]
Targa to build three Permian gas processing plants, new pipeline
Pipeline operator Targa Resources said on Monday it would build three natural gas processing plants in the Permian Delaware Basin and a new pipeline, expanding its footprint as production rises in the U.S. shale region. Midstream companies in the U.S. such as Targa are benefiting from strong oil and gas production in the Permian Basin, rising natgas demand driven by liquefied natural gas exports and soaring power generation tied to AI operations, cryptocurrency mining and data [Read more]
US diesel crack surpasses $100 a barrel for the first time on supply disruptions
The U.S. diesel crack, a key measure of refining profitability, hit an all-time high of $102.20 a barrel on Monday as global supply disruptions from the wars in Iran and Ukraine run into peak agricultural consumption season. Measured as the premium of U.S. diesel futures over U.S. West Texas Intermediate crude oil futures, the U.S. diesel crack was trading at $99.82 a barrel, up 2.4% from Friday, as of 11:56 a.m. ET. The crack has hit new intraday record highs in five of the last six sessions, [Read more]
- « Previous Page
- 1
- …
- 66
- 67
- 68
- 69
- 70
- …
- 3880
- Next Page »