Mideast, WC India Gasoil Arbitrages Swing to Asia Amid Volatile Freight: Sources
The arbitrages for long range 2-size gasoil volumes from the Middle East and the West Coast of India have swung eastwards to Asia after many shipowners chose not to provide voyages through the Strait of Hormuz, although the situation remains volatile, market sources said. Read More
OPEC+ Members Agree to Increase Oil Output by Higher-than-Expected 206,000 b/d
OPEC+ member countries on Sunday said they would increase production by 206,000 b/d starting in April. Read More
European Oil Prices, Tanker Freight Rates Climb Amid US, Israel Strikes on Iran
Refined oil prices and tanker freight rates for shipping refined products into Europe from the Middle East started to climb on the last trading day of February ahead of the U.S. and Israel launching an offensive against Iran, an analyst told OPIS Sunday. Read More
Hormuz Shipping Risk Emerges as Main Market Threat After Iran Strikes: Analysts
The potential for maritime disruption in the Strait of Hormuz to trigger broad economic fallout across global trade networks is now the central focus for markets following Israeli and U.S. strikes on Iran, according to Abhi Rajendran, fellow at the Center for Energy Studies at Rice University's Baker Institute. Read More
Risk of Oil Supply Disruption ‘Significantly Heightened’ Following Strikes Against Iran: Lipow Oil Associates
Crude prices appear poised to jump when trading reopens Sunday evening after joint U.S. and Israel strikes against Iran, raising the risk of a broader supply shock in the Middle East, said Andy Lipow, President of Houston-based Lipow Oil Associates. Read More
Oil Prices Inch Higher After US and Israel Strike Iran
Oil prices were firmer early Saturday following reports that the US and Israel launched pre-emptive strikes against Iran, escalating tensions in the Middle East, according to the Wall Street Journal. Read More
EU Resumes Imports of Indian Diesel After Sanction Hiatus
The European Union has received its first cargo of Indian diesel after a six-week hiatus that coincided with the implementation of a ban on oil products based on Russian crude. Read More
HF Sinclair Hopeful on Western Pipeline Project, Forms Branded Marketing JV
HF Sinclair officials on Wednesday said the company is continuing to evaluate a refined product pipeline expansion that will allow it to serve U.S. West Coast markets and announced a fuel-distribution joint venture that would supply fuel from its refineries. Read More
Naphtha Gains Most From Lifting of Sanctions on Venezuelan Crude Oil
On Jan. 5, the U.S. launched an operation to take the then Venezuelan President, Nicolas Maduro, into custody. It also began to exert greater control over Venezuela's energy sector, lifting sanctions on crude oil and refined product exports it imposed in 2019. Read More
SkyNRG Starts Construction of SAF Production Project in the Netherlands
SkyNRG said Thursday that it has reached financial close on its Delfzijl sustainable aviation fuel (SAF) project in the north of the Netherlands, allowing it to transition from development to construction. Read More
Couche-Tard Says it Will Add at Least 750 Stores to its Retail Network Over Next Five Years
Alimentation Couche-Tard intends to add at least 750 stores over the next five years through new store construction and single-site acquisitions, the company said Wednesday in an investor presentation. Read More
Minnesota Reaches New Record for E15 Sales in 2025
Unleaded 88 sales in Minnesota reached a new annual record in 2025, marking the fifth consecutive year of growth, the Minnesota Bio-Fuels Association said Wednesday, citing Minnesota Department of Commerce data. Read More
Reformulated Gasoline Refinery Production Hits Five-Year Low: CEC
California's refinery production of reformulated gasoline last week fell to its lowest in at least five years, while stockpiles of the fuel inched up during the period, according to California Energy Commission data released Wednesday. Read More
Cuba Says No Jet Fuel Will Be Available at its Nine International Airports for the Next Month
Havana's José Martí International Airport on Sunday informed airlines that no jet fuel will be available at the country's nine international airports for a month beginning at midnight ET Tuesday. Read More
California Law Opens Pathway for New Kern Drilling as Refinery Capacity Declines
In less than six weeks, California's oil and gas permitting has already outpaced the entirety of 2025. Read More
Maersk, Hapag-Lloyd to Reroute Joint Shipping Service via Red Sea
Shipping companies A.P. Moller Maersk and Hapag-Lloyd have changed the route of one of their shared services under the Gemini Cooperation to transit the Red Sea and Suez Canal area, according to Maersk in an advisory to customers on Tuesday. Read More
Marathon Invests in New Projects to Boost Margins on Rosy Refining Outlook
Marathon Petroleum is investing in three new projects at its 638,000 b/d Garyville, La., and 140,000 b/d El Paso, Texas, facilities with an aim to increase margins and fuel production on the back of a bullish refining outlook, Chief Executive Maryann Mannen said on Tuesday. Read More
Mexico’s Dos Bocas Emerges as Pemex’s Top Refinery in December
Pemex's 340,000 b/d Dos Bocas refinery became the Mexican state-owned oil company best-performing plant in December, processing 263,402 b/d of crude, its highest output since it began running crude in 2024. Read More
European Carbon Allowances Eyed as Finance Tools Amid Rising Prices
European industrial operators have used free carbon allowances for financing purposes such as repurchasing agreements and as collateral for loans, and experts familiar with the deals say that rising carbon prices could encourage such practices. Free carbon allowances are handed to big emitters in several industrial sectors subject to the EU and UK emissions trading systems (ETSs) to stop operators from being at a competitive disadvantage to imports from countries without carbon prices. But an investigation by OPIS shows that such allowances are being used for wider financing purposes. Read More
Tank, Ports Partner to Develop EU CCS Shipping Corridor
LBC Tank Terminals, Associated British Ports and the North Sea Port have signed a Memorandum of Understanding to develop a Carbon Capture and Storage (CCS) terminal and shipping corridor connecting northwest Europe with the U.K to decarbonize shipping, LBC Tank terminals said in a news release on Monday. Read More
EcoCeres Opens First SAF Plant in Malaysia, Bullish on Outlook
EcoCeres is well placed to take advantage of Asia's demand for sustainable aviation fuel, which is expected to grow in the near future, said Chief Executive Officer Matti Lievonen at the inauguration of its SAF plant in Johor, the first such facility in Malaysia, on Monday. Read More
Marine Gasoil on East Coast Surges as Frigid Weather Pressures Diesel Market Higher
Marine gasoil on the U.S. East Coast has surged with the region's cold weather, OPIS data show. Read More
Ryanair Raises Traffic Guidance Again Amid Strong Demand
Ryanair on Monday raised its traffic guidance for the current fiscal year ending in March, reflecting strong customer demand and earlier than expected Boeing aircraft deliveries. Read More
California Likely to See E15 Retail Sites Within a Year: Industry Official
SAN DIEGO -- California is likely to see E15 retail sites by this time next year, an industry official said last week. Read More
EU Ban on Fuel Made From Russian Crude Kicks in
The EU ban on petroleum products derived from Russian crude came into effect Wednesday, potentially impacting imports of middle distillates from Turkey, India and China. Read More
Mexican Hydrocarbon Regulations Keep Foreign Majors Away from Pemex: Analyst
Pemex's ability to attract high-profile international investors under mixed-production contracts appears constrained by the country's strict hydrocarbons regulations, according to Gonzalo Monroy, managing director of Mexico City-based energy consultancy GMEC. Read More
Panama Canal 2025 Marine Fuel Sales Rise With Increased Vessel Traffic
Total marine fuel sales at the Panama Canal in 2025 were reported around 5.3 million metric tons, the highest annual total since 2019 when volumes totaled 5.35 million mt and predated the rollout of the 2020 lower sulfur standards, according to data released Tuesday by the Panama Maritime Authority. Read More
Maersk Gradually Resuming Operations via the Red Sea
Danish shipping company A.P Moller-Maersk is gradually resuming operations via the Suez Canal and the Red Sea providing security thresholds are met, a customer advisory note on Monday reported. Read More
Previously Scheduled Turnaround to Mark Start of Benicia Shutdown
A previously scheduled turnaround at Valero's 150,000 b/d Benicia refinery may mark the beginning of the end of refining operations at the Northern California facility, according to city officials and West Coast trading participants. Read More
US Gulf Coast Refining Outlook Remains Bright for Coming Years, RBN Analysis Concludes
The need for refining capacity in the U.S. Gulf Coast region is expected to grow by 400,000 b/d over the next two decades, while other regions of the country will most likely see the need to reduce capacity or see it remain flat, according to an analysis by RBN Energy released Friday. Read More
Independent Fuel Future Critical for Arizona and Nevada, Officials and Industry say
Arizona and Nevada are taking steps to break away from a decades-long dependence on California fuel as the Golden State experiences refinery closures and becomes increasingly dependent on gasoline imports that can take weeks to secure and ship. Read More
Phillips 66 CEO Says Venezuelan Heavy Crude Imports to Gulf Coast Could Reshape Market
Phillips 66 said the return of Venezuelan heavy crude to the U.S. Gulf Coast could reshape North American heavy crude flows and compete with Western Canadian Select oil in the near term. Read More
Sheinbaum Says Mexico Will Remain Key Fuel Supplier to Cuba As Venezuela Exports Decline
Mexico will continue to send crude oil and gasoline to Cuba, President Claudia Sheinbaum said Wednesday, after Venezuelan energy exports to the island nation were curtailed by U.S. sanctions and actions and may be halted. Read More
Potential Revival of Venezuelan Oil Output May Create Mid- to Long-Term Issues for Mexico
Trump administration's plans to sharply increase Venezuelan oil production are unlikely to affect Mexican crude production in the short term, but could eventually limit foreign investment in the country's energy sector, industry analysts said on Tuesday. Read More
PBF Energy Says it Plans to Conduct Turnaround Work at Most of its Refineries in 2026
PBF Energy is planning turnaround work at nearly all of its refineries this year and expects plant outages in the first, second and fourth quarters. Read More
2026 Preview: Mexico Energy Overhaul to Test USMCA as July Review of Pact Approaches
Mexico will be under pressure in the new year to prove that sweeping changes to its energy sector conform with the U.S.-Mexico-Canada Agreement on trade that was developed at a time when market conditions were different. Read More
2026 Preview: IMO Carbon Tax Delay Likely to Keep VLSFO, HSFO Demand Steady in New Year
While the global bunker fuel market continued to be shaped in 2025 by the war between Ukraine and Russia and risks to Red Sea shipping, those concerns paled in comparison to a delay in the push toward lower-carbon fuels. Read More
2026 Preview: Refinery Issues, Demand and SAF to Guide US Jet Fuel Market in the New Year
U.S. spot jet fuel supply and prices will remain vulnerable to refinery issues in the new year, while producers face slower demand growth and increased competition from sustainable aviation fuel. Read More
2026 Preview: NY Harbor Market Watching Refined Product Stocks, Growing Renewable Diesel Use
Northeast spot refined product market participants will enter the new year with a close watch on gasoline supplies, exports from Nigeria's Dangote refinery and the rising use of renewable diesel in the region. Read More
2026 Preview: Strong USGC Jet Fuel, Distillate Exports Expected to Continue into New Year
U.S. Gulf Coast refiners are likely to remain major exporters of jet fuel and distillates in the new year, following another big year in 2025. Read More
2026 Preview: Dangote, Dos Bocas Impacts Eyed in Gulf Coast Gasoline Market
U.S. Gulf Coast gasoline market participants say their key focuses in the new year will be the potential effects of increased production from Nigeria's 650,000 b/d Dangote and Mexico's 340,000 b/d Dos Bocas refineries. Read More
2026 Preview: Midwest Spot Market Participants Look to New Western Pipelines, RVP Waivers
The U.S. Midwest spot refined products market will enter the new year with questions over two proposed pipeline projects intended to move gasoline and distillate from Texas refineries to Arizona and California markets. In addition, it will have to deal with questions over how summertime sales of E15 in the region will affect supply and trade as states begin to file for waivers allowing summer sales of the higher ethanol blend. Read More
2026 Preview: West Coast Refined Product Market Begins New Year ‘Walking a Tightrope’
The U.S. West Coast fuels market, which will enter 2026 with the lowest refining capacity in years, will see another decline in April, when Valero Energy closes its 150,000 b/d Benicia plant in Northern California, likely raising unpredictability in a region long marked by price volatility. Read More
US Refineries, Union to Begin Contract Talks in January, as Industry Leans More on AI
U.S. oil companies and more than 30,000 refinery and petrochemical workers represented by the United Steelworkers union will begin negotiations on a new national collective bargaining agreement designed to address wage, safety and job security issues as the use of artificial intelligence expands in the industry. Read More
Crimson Renewable Energy to Pause Production at California Biodiesel Plant
Biodiesel producer Crimson Renewable Energy plans to pause production at its 37.3 million gal/year plant in Bakersfield, Calif., President and CEO Harry Simpson said on Sunday. Read More
US Fuel Distributor and Retailer Anabi Oil Acquires 12 California Stores
Fuel distributor and retailer Anabi Oil of Upland, Calif., has continued its aggressive expansion push by acquiring 12 California convenience stores from C&J Cox and affiliates in the Tri-Valley and Lake Tahoe areas, sell-side advisor Matrix Capital Markets Group said in a news release Thursday. Read More
Refining, Biofuel Groups Implore Trump to Resolve E15, SRE Uncertainty
A coalition of groups representing the refining, renewable fuel and fuel retail industries implored President Trump in a Thursday letter to offer "long-term policy certainty" on issues central to their members, including year-round access to E15 at the pump and the oft-controversial small refinery exemption (SRE) program under the Renewable Fuel Standard. Read More
PNW Gasoline Prices Fall After Olympic Pipeline Operations Fully Restored
Pacific Northwest sub-octane regular and premium grade spot market implied prices fell by double digits on lower offers Monday following restoration of operations along the Olympic Pipeline's 16-inch and 20-inch lines. Read More
Oil Surplus Outlook, Uncertain Geopolitics Led OPEC+ to Pause Hikes: Rystad
A looming global crude oil surplus, uncertainties over U.S. policies toward Venezuela and the continuing war between Ukraine and Russia led OPEC and allied producers to pause further production increases in the first quarter of 2026, analyst Rystad Energy said Sunday. Read More
Olympic Pipeline Partially Restarts; 20 Inch Line Stays Shut Pending Repairs
BP Pipelines North America said early Tuesday that the Olympic pipeline completed a partial restart after tests showed no indication of a leak in the 16-inch pipeline segment, allowing the line to safely resume operations. Read More
Oil Markets on Edge as Sanctions Against Lukoil, Rosneft Kick In
U.S. sanctions on Lukoil and Rosneft entered into force on Friday, potentially reducing Russia's ability to export crude oil and refined products into global markets even further. Read More
Europe Diesel Crack Hits Two-Year High on Supply Fears
Gross diesel margins in Northwest Europe (NWE) soared this week to the highest level since September 2023 as supplies from Russia – the world’s second largest exporter – come under pressure from sanctions and Ukrainian attacks on refineries and ports. Read More
California-Bound Gasoline Cargoes Set for Arrival Amid Refinery, Pipe Work
More than 1 million barrels of gasoline are set to arrive in California within the next 10 days, as market participants navigate pipeline constraints in the Pacific Northwest and refinery maintenance events in Los Angeles. Read More
Diesel Margins Rally as Russian Exports Plunge
Global diesel margins are surging to some of the highest levels seen over the past two years amid supply concerns caused by a combination of lower Russian volumes, new sanctions and refinery maintenance ahead of the colder weather season in the northern hemisphere. Read More
Oneok Reports Third Quarter Refined Product Shipments Increased 1-3% from Q2
Oneok on Wednesday reported its third quarter financial results, which showed refined product shipments in the quarter were up by about 1-3% from quarter two. Read More
E15 Growth Expected to Continue Despite Ongoing Challenges: Panelists
E15 growth is expected to continue into 2026, despite continuing challenges, according to panelists speaking this week at the Society of Independent Gasoline Marketers of America's (SIGMA) annual meeting in Nashville. Read More
FERC Rejects Colonial Pipeline’s Proposed Tariff Changes on Gasoline Grades
The Federal Energy Regulatory Commission has rejected Colonial Pipeline's proposed tariff modifications that would have changed how the pipeline operator ships various gasoline grades with different Reid Vapor Pressures. Read More
Phoenix to Receive Half of Proposed Product Pipeline’s Volumes: Phillips 66
Phillips 66 expects about half of the refined product volumes shipped on its proposed Western Gateway pipeline from the U.S. Midcontinent to Arizona and California would be shared equally by both states, Brian Mandell, the company's executive vice president for marketing and commercial said on Wednesday. Read More
As Reliance on Imported Gasoline Rises, California Adapts to a ‘New World’
California's gasoline imports over the first 10 months of 2025 have already exceeded totals for any year since at least 2004, according to Energy Information Administration data. Read More
Naphtha East-West Spread Widens on Fresh US Sanctions
The naphtha market has rallied with the regional east-west price gap widening to a three-year high, following U.S. sanctions on Russian oil giants Rosneft and Lukoil announced on Wednesday. Read More
Year-Round E15 Sales the ‘Top Priority’ for Ethanol Industry: RFA Chief
WASHINGTON -- E15 expansion has emerged as the "top priority" for the Renewable Fuels Association (RFA), its chief executive officer said Monday. Read More
Trends Suggest More Balanced California Gasoline Market Ahead of RVP Switch
The annual switch from 5.99-lb. RVP summer-grade gasoline to cheaper-to-make winter-grade blends in the West Coast has led to sharply different price moves over the past five years, but recent trends point to a more balanced supply and demand picture ahead of this year's transition, according to OPIS pricing history and public inventory data. Read More
Nevada Governor Seeks to Establish Committee Focused on Fuel Stability
Nevada Gov. Joe Lombardo is seeking to create a committee that will focus on strengthening the state’s fuel supply by reducing “vulnerabilities to regional and national disruptions,” a news release from the governor’s office said on Thursday. Read More
China-built US Vessels Exempted from Retaliatory Port Fees
Beijing has eased some of its moves to impose retaliatory fees on American vessels calling at Chinese ports, exempting ships built in China that are U.S.-owned or -operated from paying the special port fees. Read More
China to Levy Retaliatory Special Port Fees on US Vessels
China's Ministry of Transport said Friday it will begin imposing special port service fees on U.S.-owned and -operated vessels calling at Chinese ports starting Oct. 14 in response to a similar move by the U.S. Read More
US-Mexico Energy Trade Drops 21% in 2024 as Crude Imports Decline
The value of energy trade between the U.S. and Mexico in 2024 dropped to its lowest level since 2020 amid falling fuel prices and reduced Mexican oil output, according to a recent report from the U.S. Energy Information Administration using data from the U.S. Census Bureau. Read More
Northern California Refineries May Cover Supply Following El Segundo Fire
With a fire outbreak at Chevron's 290,500 b/d El Segundo refinery near Los Angeles now extinguished, traders and analysts speculate refineries in Northern California will bear the short-term brunt of supplying Southern California with distillates and gasoline products. Read More
Judge Says Biden Exceeded His Authority With Offshore Drilling Ban
A federal judge has reversed a last-minute effort by former President Joe Biden to permanently ban drilling off several sections of the U.S. coast. Read More
Russia’s Diesel Exports Plunge Amid Ukrainian Attacks on Refineries
Russia’s diesel exports plummeted in September to an eight-year low for the month as a recent wave of Ukrainian drone attacks has significantly disrupted the country’s refining system. Read More
More US Fuel Retailers are Opting to Own, Operate EV Chargers at Their Sites
More retail fuel chains are choosing to own and manage electric vehicle charging stations rather than contract with third-party providers in an effort to attract new customers and cash in on higher demand, industry sources said. Read More
OPIS Forum: China’s Primary Energy Consumption Forecast to Grow at Slower Rate
China’s primary energy consumption is expected to maintain its growth momentum till around 2040, albeit at a decelerating pace, according to Sinopec Economics and Development Research Institute at the OPIS Energy and Chemicals Forum in Singapore on Wednesday. Read More
Oil Price to Fall Sharply in Coming Months on Stock Buildup, OPEC Hikes: EIA
The Energy Information Administration said on Tuesday it expects the price of crude oil to decline significantly in the coming months, weighed down by large oil inventory builds as OPEC and its allied members increase oil production. Read More
US VGO Imports Highest in Three Years with Steady Refinery Utilization
In August 2025, the U.S. imported heavy feedstocks such as vacuum gasoil at levels not seen in more than a year and half as refinery utilization has remained healthy. Read More
EPA Moves to Revoke Finding Underpinning GHG Emission Regulations
The Trump administration on Tuesday unveiled its plan to revoke the finding that greenhouse gases endanger human health, which could allow for the invalidation of multiple federal climate regulations. Read More
Will European Refinery Run Rises Boost Diesel Yields and Support Margins?
The International Energy Agency’s July Oil Market Report says that European refinery throughput in July 2025 is projected to be 11.3 million barrels/day, up from 11 million b/d in June and 10.9 million b/d in May. The IEA added “the current strong margin environment and rising crude supplies increase the chances that runs will surprise to the upside in the coming months.” Read More
OPEC+ Production August Increase Covered by Current Production
On July 5, the eight members of OPEC+—the grouping of the Organization of the Petroleum Exporting Countries (OPEC) and ten other oil exporters—that agreed last December to an additional voluntary cut of 2.2 million barrels/day over a two-year period, announced the final stage of the unwinding of these cuts one year ahead of schedule by agreeing to a production increase of 548,000 b/d effective Aug 1. Read More
Larger Inter-Regional Price Spreads to Revive Jet Fuel Arbitrage Discussions
The price spreads for jet fuel between Northeast Asia versus Northwest Europe and the U.S. West Coast opened up at Wednesday's closing, which may once again entice market players to restart arbitrage discussions while simultaneously diverting selling interest for swing barrels away from Asia to Europe. Read More
Insolvent UK Lindsey Refinery Continues to Operate but Closure Looms
The U.K. government confirmed that it is funding operations at the 113,000 b/d Lindsey refinery for the time being while it assesses options for the future of the site after owners Prax Group filed for insolvency. Read More
European Diesel Margins Soar After Imports Dropped in June
The European diesel market is flashing warning lights after supplies from the Middle East plunged to multi-month lows in June. Read More
Freight Rates for Transatlantic Voyages Soar as Europe Pulls More US Diesel
Freight rates for MR tankers hauling U.S. diesel to Europe have tripled in two weeks amid supply concerns due to the escalating Iran-Israel conflict. Read More
Asia’s Oil, Refined Prices Jump on Israel-Iran Conflict
Oil and refined product prices rose in Asia on Friday amid heightened levels of uncertainty following Israel’s attacks on Iran’s nuclear facilities. Read More
Bunker Market Faces Challenging Future: 2050 Marine Energy
Tight margins, alternative fuel headwinds and increased competition for bunker volumes are just some of the challenges facing the current and future bunker market, according to Adrian Tolson, principal of 2050 Marine Energy. Read More