Traders book tankers in Europe to ship gasoline across Atlantic after Colonial shutdown

© Reuters. FILE PHOTO: Holding tanks are seen at Colonial Pipeline’s Charlotte Tank Farm in Charlotte, North Carolina, U.S. in an undated photograph. Colonial Pipeline/Handout via REUTERS. By Ahmad Ghaddar and Ron Bousso LONDON (Reuters) -Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that […]

Continue Reading

OPEC+ Drama Helps Gasoline to 1st Week Above $2 Since 2019

© Reuters. By Barani Krishnan Investing.com –  US gasoline futures finished their first week above $ 2 per gallon since 2019, while global crude benchmark Brent neared $ 70 a barrel, after producer alliance OPEC+ largely withheld a production hike for next month, defying market expectations. New York-traded settled at $ 2.065 per gallon on […]

Continue Reading

Oil Up Again as US Reports Crude Draw vs Gasoline Build

© Reuters. Investing.com – Crude prices rose for an eight day in a row on Wednesday as the U.S. government reported another weekly drop in stockpiles that bucked market expectations — though gasoline inventories ballooned again, exhibiting the one weak link in the oil complex. New York-traded , the key indicator for U.S. crude, settled […]

Continue Reading

Oil Prices Hits March Highs on Vaccine Hopes, Defying Gasoline Stock Spike

© Reuters. By Barani Krishnan Investing.com — Crude stockpiles in the United States fell by almost 800,000 barrels last week, confounding analysts expectations for a build and sending benchmark U.S. oil to $ 45 highs last seen in March before the market upheavals caused by the coronavirus pandemic. for the week ended Nov. 20 slid […]

Continue Reading

Desperate for fuel, Venezuelans steal PDVSA crude and make their own gasoline

2/2 © Reuters. FILE PHOTO: A man walks past a closed gas station of the state oil company PDVSA in San Cristobal 2/2 By Mariela Nava and Luc Cohen MARACAIBO, Venezuela (Reuters) – Venezuelans, desperate for fuel after months of shortages, have begun stealing crude from idled fields owned by state oil company Petroleos de […]

Continue Reading

Asia gasoline profits burn away to nearly nothing as pandemic rages

© Reuters. By Seng Li Peng SINGAPORE (Reuters) – Asia’s gasoline refining margins nearly burned up in July, dropping to just above zero in the worst profit performance for refined fuels over the month as a new wave of coronavirus infections walloped demand recovery and swelled supplies. Gasoline had staged a stunning comeback in June […]

Continue Reading

Venezuela’s new gasoline system fails to end epic lines

4/4 © Reuters. Venezuela’s government launches new fuel pricing system, in Caracas 2/4 By Vivian Sequera and Deisy Buitrago CARACAS (Reuters) – Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price system aimed at […]

Continue Reading

Oil up in Spread Play Vs. Gasoline, Sentiment Still Weak on Recession Worry

© Reuters. By Barani Krishnan  Investing.com – Crude prices settled up on Monday, gaining in spread trades against gasoline futures, which hit record lows on anticipation of demand destruction for fuel from the widening U.S. lockdown over Covid-19. Analysts, however, said they expected U.S. crude to trade not too far from the key $ 20 […]

Continue Reading