Oil hit an 11-month high just below US$57 a barrel on Tuesday, bolstered by Saudi Arabia’s plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand.
Oil prices eased for a second day on Thursday as mounting coronavirus cases globally raised demand concerns, although a drawdown in U.S. crude stocks for a fifth straight week capped losses.
Correlation between the Market Bunker Price Index () vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Jan.12 showed undercharging of 380 HSFO bunker grades in Singapore (-7 USD), Fujairah (-1 USD) and overcharging in Houston (+16 USD).
Justin Trudeau’s decision to shuffle his cabinet is the strongest sign yet that he could soon send Canadians to the polls.
New York (CNN Business)There’s more to the market than the FAANG stocks of Big Tech.
Asia’s naphtha and LPG markets have been bullish in recent weeks, supported by strong demand but inclement global weather and shipping delays at the Panama Canal are driving up propane prices faster than naphtha, S&P Global Platts data showed.
Oil in New York was steady as its new year rally stalled with the International Energy Agency saying a “big chunk” of U.S. shale is profitable at current prices, signaling potential over-supply problems ahead.
Korea Shipbuilding & Offshore Engineering Co. said Tuesday that it has signed a 200 billion won (US$182 million) deal to build two oil tankers for a European company.
Key ports throughout the Americas saw spot retail marine fuel pricing climb during the week Jan. 4-8.