FOB Arab Gulf 95 RON gasoline has strengthened as the market digested news of partial works at Saudi Aramco Total Refining and Petrochemical Co., or Satorp.
Global equities rose on Monday, but the mood among investors was cautious, as surging commodity prices and government bond yields continued to fan fears of a damaging rise in inflation.
Sraeli authorities are trying to locate the source of a suspected oil spill that has been described as one of the most severe ecological disasters to hit the country, threatening wildlife, forcing beaches to close and prompting a mass cleanup.
Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas.
The Asian middle distillates market is set to enter the week of Feb. 22 amid cautious fundamentals as traders find their way forward.
New York —
Korea Shipbuilding & Offshore Engineering Co. said Monday that it has bagged orders worth a combined 540 billion won (US$489 million) from Asia, Europe and Africa.
The world’s major hedge funds are betting on a jump in oil prices.
Oil supplies from OPEC and its key producer allies are set to begin flooding back to the market this year, triggering a shift in global crude quality which could bring welcome relief to swathes of embattled refiners struggling to turn a profit in the wake of the pandemic-trigged demand collapse.