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U.S. diesel prices are hovering near record highs as the wars in the Middle East and Ukraine squeeze global refining capacity. A top European central banker warns high diesel prices could linger much longer. But some investors expect oil to tumble once the Strait of Hormuz reopens. The average price for a gallon (3.79
Brent crude settled at $104.32 a barrel and WTI at $92.41. Traders also weighed talk of a possible US diesel export ban and disruptions to Saudi oil flows from Houthi attacks.
LONDON, Sept 25 (Reuters) — European diesel refining margins fell sharply on Friday as regional inventories edged higher. Low-sulphur gasoil futures traded at $79.30 a barrel above Brent crude futures by 1640 GMT, $9.53 lower than the previous close. Margins hit a record high of nearly $95 on Wednesday after President
Former Congresswoman Marjorie Taylor Greene called for urgent action to construct new refineries in America, citing the lack of major new refineries since 1977. Greene took to X on Thursday to criticize the government’s lack of success in building new refineries in the country, calling it “the most absurd, ridiculous,
US Fed Plans To Raise Bank Oversight Thresholds, Sources Say - EU Urges The UK To Raise Tariffs On Chinese Cars - German Consumer Confidence Falls To Lowest Since May - BoE s Bailey Warns It s Getting Harder to Avoid Rate Hikes - GfK: Britain s Consumer Boost Is Running Out Of Steam - Japan s Finance Minister Says Taka
New Delhi, Sept. 25 -- The US is considering a 90-day ban on diesel exports as the Trump administration faces pressure to bring down fuel prices ahead of the November midterm elections, Politico reported.The proposal has triggered divisions within the administration and opposition from the US fuel…
Aviation trade group Airlines for America, which represents airlines like Delta Air Lines Inc. (NYSE: DAL ), United Airlines Holdings Inc. (NASDAQ: UAL ), American Airlines Group Inc. (NASDAQ: AAL ) and more, has urged the Trump administration to reject additional China-U.S. flights, warning that Airlines could face co
Khamenei s Advisor: May Take War To Indian Ocean If Struck Again Russia, Ukraine, US Envoys To Hold Meeting In New York Pres Trump: Will Discuss AI With Xi, Want To Leave As Is US Unveils Two-Month Trade Truce As Xi Arrives For Summit Fed s Williams: Reasonable To See Another Rate Hike This Year Germany s Top Economic
NEW DELHI, Sept 24 (Reuters) — Asia's naphtha prices rose on Thursday, in line with crude oil benchmarks, as supplies from the Middle East remained scarce, traders said. The price for first-half November cargo rose by $11.50 to about $927 per metric ton. The crack for naphtha declined to about $131 per ton over Brent c
Industry groups and businesses have urged President Donald Trump to rescind the plan to ban or limit exports of diesel, which has been pushed back against by Energy Secretary Chris Wright amid record-high diesel prices and energy shocks due to the Strait of Hormuz uncertainty, as well as the Russia-Ukraine war. Diesel
A White House official has denied claims that the U.S. is considering a 90-day ban on diesel exports to address rising fuel prices. Energy Secretary Chris Wright dismissed a Politico report suggesting the U.S. was preparing to enforce a 90-day ban on diesel exports, Reuters reported. This alleged ban was supposedly aim
US heating oil futures rose above $4.80 per gallon, partially recovering their losses from the previous session, after the White House denied reports that the US was preparing a 90-day diesel export ban. Energy Secretary Chris Wright also said the administration was instead working with refiners to increase US diesel s
EXECUTIVE SUMMARY * MNI FED: Gov Barr: Base Case Is For Further Hikes: #83aa171c-7fc4-49fd-82f5-351bcb071d96 * MNI IRAN: Security Chief Says In No Rush To Negotiate: #5df7e2ac-e490-4920-91fd-84069fe559a3 * MNI IRAN: Pezeshkian Talks On Nuclear, Hormuz & US Stance In UN Address: #c9b6854d-8cab-47cb-8646-ce411062279c * M
WH Denies Plan For 90-Day Diesel Exports Ban, Calls Report 'Fake News' - US Energy Secretary Wright Says Diesel Export Ban Would Not Work - Iran President Defends Country's Right To Nuclear Enrichment - Rubio Says Iran Deal Would Require Hard Work Over Time - Rubio Says Russia, Ukraine Express Interest In Limited Energ
Oil Products End of Day Summary: Diesel Cracks Fall US diesel cracks have lost ground after Politico issued a story suggesting that the WH is preparing a 90-day diesel ban. The report drove up U.S. gasoline cracks * US ULSD crack down 9.4$/bbl at 101.18$/bbl * US gasoline crack up 2.6$/bbl at 48.08$/bbl * EIA Weekly US
Cracks have fallen after Iran said it was reviewing a US response to its proposal to end hostilities. Meanwhile, US Energy Sec. Wright said that a diesel export ban would not work, which follows comments by Trump on Tuesday in support of a ban. * US ULSD crack down 8.9$/bbl at 101.64$/bbl * US gasoline crack down 0.1$/
Keeping American diesel at home sounds like the fastest way to make it cheaper, but the opposite could happen. President Donald Trump said on Tuesday that he backs a diesel export ban. That day, the national average diesel price hit a fresh record at $6.53 a gallon, according to AAA. “I’ve said let’s not send out the d
Access Full Report Here: Executive summary: * President Donald Trump has "Executive Time" at 08:00 ET 13:00 BST, holds closed-door policy meetings at 11:00 ET 16:00 BST, and greets Chinese President Xi Jinping at Joint Base Andrews at 18:00 ET 23:00 BST. * Secretary of State Marco Rubio will meet Russian Foreign Minist
US OIL: America Open - WTI Crude prices have extended the trend lower amid market optimism as talks continue on the sidelines of this week's UN gathering. EIA trade expectations are mixed, with crude and distillates seen lower but gasoline stocks higher. * US special envoy Witkoff said that lengthy talks have taken pla
Russia's refinery runs remained largely unchanged w/w at around 4m b/d between Sep 10-16 according to a Bloomberg source. * This figure however does not represent recent strikes on the Yaroslavl, Moscow, Ufa and Kuibyshev refineries. * Bloomberg reported earlier this week that Russia look set to extend the diesel expor
A US ban on diesel exports would immediately drive up prices across Europe, Latin America and America's West Coast, according to Kpler cited by Bloomberg. * It would "starve" the world of supplies as "there is no replacement to the US' massive export volume," said David Tonyan. * A ban is still unlikely and "would cost
Crude prices have extended the trend lower amid market optimism as talks continue on the sidelines of this week's UN gathering. * US special envoy Witkoff said that lengthy talks have taken place with the Iranian delegation through mediators and they are set to continue. Iran's foreign ministry official Baghaei confirm
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but
EXECUTIVE SUMMARY * TRUMP HAILS 'VERY GOOD' IRAN TALKS FOLLOWING ANNIHILATION THREAT - BBG: #cdbad0a1-5c8d-4cdb-9819-370162b99299 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH - WSJ: #a4c79a68-e487-466b-a806-4885fa3200e0 * LASTING SHOCKS, FIRMING DEMAND REQUIRE FED ACTION - BARKIN - MNI
Oil prices fell again on the prospect of an increase in global supplies as the UN meetings allow talks to take place and Saudi looks to resume flows through its east-west pipeline in coming days. President Trump and Saudi-owned Al Arabiya said that US and Iranian delegations met and talks were productive. The latter re
Trump Says Iran Deal Nearing, Tehran Offers Hormuz Reopening - Iran Denies Reports Of Hormuz Reopening Deals From Kyodo, Reuters - Iran Seeks 20% Fine For Hormuz Transit Breach - Trump Floats 'Big Decision' At UN On If He'll 'Annihilate' Iran Or Make Deal - Senior Iran Security Source: Iran Ready For All War Scenarios
Former Congresswoman Marjorie Taylor Greene has backed the President Donald Trump administration’s plan to cut down on diesel exports, but GasBuddy analyst Patrick De Haan warns the move could do more harm than good in the long term. Banning Diesel Exports is an America First Move In a post on X on Monday, Greene toute
Trump Weighed Strikes Against Houthis In Yemen Before Holding Off - Iran Sets Conditions For Talks Amid Warning Of US Onslaught - Top Republicans Tell Trump To Ban US Diesel Exports Ahead Of Midterms - Greer Says US, China To Continue Talks On Trade Truce Extension - Fed's Goolsbee Says Road To 2% Inflation May Not Be
LONDON, Sept 21 (Reuters) — Northwest European gasoline refining margins gained more than $4 to a one-week high of $54.22 a barrel on Monday in heavy trading. About 22,000 metric tons of gasoline E5 barges traded, with Exxon Mobil and Petroineos selling to Gunvor and Vitol. A further 6,000 metric tons of gasoline E10 b
Diesel prices have rallied in Europe and the United States to record highs amid war-related export cuts from major producers including Russia, Saudi Arabia, and the United Arab Emirates, with little options cited to prevent further rises.