Western Gateway Pipeline Advances Following Strong Open Season Interest
The Western Gateway Pipeline, a joint venture project between Kinder Morgan and Phillips 66, will advance following a "successful" second open season that secured sufficient long-term shipper commitments, the companies said on Monday. Read More
Extending the Conflict Timeline
As the conflict between the U.S., Israel and Iran extend into a second month and the potential of U.S. troops arriving on the ground seemingly takes shape, the risks to our original timeline have been upgraded. Read More
Ship Fuel Costs up $393 Million/Day as US, Israel Strikes on Iran Spur Oil Prices Higher
Shipping companies are spending an extra €340 million ($394 million)/day in additional fuel costs due to the ongoing conflict between the U.S., Israel and Iran, according to the European Federation for Transport and Environment (T&E) in a report on March 27. Read More
Singapore Poised for Oil Import Surge Amid Iran War Supply Disruptions
Singapore is poised to import an unprecedented volume of refined products in March, highlighting the country’s importance as a key oil trading hub at a time of widespread supply disruptions, according to shipping data and market sources. Read More
Sheinbaum Asks Retailers to Forgo Diesel Price Increases after Government Trims Fuel Taxes
Mexican President Claudia Sheinbaum on Thursday urged fuel retailers to refrain from raising the retail price of diesel, citing a recent reduction in federal taxes on the fuel as oil prices surge on the continuing Middle East conflict. Read More
The Case for Oil Prices to Stay Below $150
The U.S.-Iran conflict is wrapping up its fourth week and Brent crude oil is maintaining a price north of $100 per barrel. OPIS acknowledges that there is no definite timeline for a conclusion, however we have recently increased our expectations for the conflict to last six weeks. Should fighting conclude after six weeks, it will potentially require up to twelve weeks of recovery and for marine transit to normalize. The coming days will be critical as U.S. military is being staged to potentially enter the Middle East. Read More
CERAWeek 2026: Global Oil Supply Disruption Unprecedented in Scale With no Near-Term Resolution, Executives Say
HOUSTON -- The closure of the Strait of Hormuz has produced a supply disruption with no parallel in the modern history of global oil markets, compounded by the simultaneous infrastructure attacks across Central Asia that have removed a second significant export corridor, executives and officials said Tuesday at CERAWeek 2026 by S&P Global in Houston. Read More
California Lawmakers Push to Pause Gas Tax as Prices Surge at the Pump
Democrat and Republican lawmakers in California are facing roadblocks in their push to temporarily suspend the state's climate programs and gas tax as retail prices have skyrocketed nearly $1/gal above year-ago marks. Read More
Couche-Tard ‘Actively’ Pursues Acquisitions, Increases Number of Single-Site Deals
Global convenience retailer Alimentation Couche-Tard is "actively" pursuing multiple potential acquisitions across its three primary regions, Chief Executive Officer Alex Miller said Wednesday in a call discussing financial results for its fiscal 2026 third quarter. Read More
Mexico Resumes Retail Tax Relief for Diesel for First Time in Nearly a Year as Fuel Prices Soar
Mexico's Finance Ministry late Friday said it would reduce retail taxes on diesel fuel this week for the first time in nearly a year. Read More
U.S. West Coast Diesel Exports to Mexico Drop 41% in 2025 as Trade Flows Shift
U.S. West Coast distillate exports to Mexico in 2025 fell by more than 41% from 2024, according to Energy Information data, leading fuel analysts and traders to question whether the decline was the result of cyclical demand shifts or Mexico's push to increase domestic refining capacity. Read More
Europe Retail Road Fuel Prices Post Multi-Year Highs on Iran Conflict: OPIS NAVX
Retail road fuel prices in France, Germany, Italy, Spain and the U.K. have posted multi-year highs, buoyed by rocketing crude due to the Iran conflict. Read More
Cumberland Farms Says it Will Acquire 54-Unit Fuel Retailer and C-Store Operator Coen Markets
Fuel retailer and convenience-store operator Cumberland Farms has agreed to acquire Pennsylvania-based Coen Markets, which owns 54 convenience stores in Pennsylvania, Ohio and West Virginia, according to a news release on Thursday. Read More
Mexican Energy Regulator CNE Approves Five New Fuel Station Permits, Brand Changes
Mexican energy regulator CNE last week said it approved five new fuel retail permits at its late-February meeting and accepted several other requests, including brand changes, permit transfers between companies and fuel transport applications. Read More
Analysis: How the Covid-19 Pandemic Shook Up Gasoline Market Share
The Covid-19 pandemic significantly influenced U.S. gasoline market share, altering demand patterns and reshaping industry dynamics, an OPIS analysis shows. Gasoline brands became increasingly competitive in a declining market. OPIS data indicate fuel demand fell 25.2% from 2019 to 2025. The push for market share has become a tight horse race. Read More
Middle East Crisis Leaves Europe in Hands of US Diesel Producers
The European diesel market is rallying due to the war in Iran, as the de-facto closure of the Strait of Hormuz blocks exports from the Middle East while refineries and storage facilities in the region come under attack. Read More
New War Risk Insurance Premiums Expected for Middle East Gulf by March 7
Following an escalation of tensions in the Middle East Gulf, insurance underwriters are expected to issue new war risk premiums by March 7, a shipping management firm informed OPIS on Thursday. Read More
Refiner Brand Market Share Falls, Big Independent Retailers See Market Share Climb
The combined U.S. gasoline market share for refiner fuel brands fell year to year in 2025 and in the fourth quarter, an OPIS analysis shows. Read More
Pemex Says 2025 Crude Oil Processing Rate Topped 1 Million b/d for First Time Since 2015
Mexican state-owned oil company Pemex said its seven domestic refineries processed an average of 1.014 million b/d of crude oil in 2025, up 12% from 2024, marking the first time since 2015 that annual average refinery throughput exceeded 1 million b/d. Read More
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
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
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
Couche-Tard plans building campaign, big acquisitions could also be in the works
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. The presentation also said Couche-Tard will expand through "opportunistic" regional and large-scale acquisitions and by adding sites to its franchise network. 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
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: 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: 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 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
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
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
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 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
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
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
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