Oil Markets
Episodes
Service company earnings: Infrastructure shifts, e-fleets, and Latin American growth
30 Apr 2026
Contributed by Lukas
In this episode of the Oil Markets Podcast from S&P Global Energy, host Jeff Mower dives into first-quarter earnings from major oil and gas service...
From Hormuz to Asia: the ripple effects on oil trade, prices, and economies
23 Apr 2026
Contributed by Lukas
The conflict in the Middle East has sent ripples across the global energy landscape, with the spotlight on the Strait of Hormuz -- the critical artery...
Atlantic physical crude dynamics following Dated Brent's all-time high
16 Apr 2026
Contributed by Lukas
Dated Brent's record high assessment by Platts of $144.42/barrel stole the headlines on April 7, but physical market fundamentals in the Atlantic basi...
Hormuz chokepoint: Global scramble for diesel supply
09 Apr 2026
Contributed by Lukas
As traffic inches back through the Strait of Hormuz, oil and product flows remain constrained, sending buyers scrambling to replace Middle East barrel...
Nigeria's Dangote refinery takes spotlight amid Middle East conflict
02 Apr 2026
Contributed by Lukas
As the conflict in the Middle East has raised the specter of global fuel shortages, Nigeria's new Dangote refinery has attracted growing attention as ...
CERAWEEK 2026: With Hormuz shut, who fills the gap?
31 Mar 2026
Contributed by Lukas
From CERAWEEK 2026 in Houston, host Jeff Mower, Director of Americas Oil News, is joined by Senior Upstream Editor Ashok Dutta, oil news editor Bini...
Hormuz on a chokepoint, Asia's LPG scramble as Middle East Gulf flows stall
26 Mar 2026
Contributed by Lukas
Tensions between US-Israel and Iran are disrupting flows in the Strait of Hormuz, forcing Asia's LPG market to manage surging prices to shifting optim...
Europe's jet fuel prices rally to record highs on Persian Gulf shut-in
19 Mar 2026
Contributed by Lukas
Benchmark jet fuel assessments by Platts have reached all-time highs on the back of war in the Middle East. With vital middle distillate supplies lock...
War, Hormuz and the Fuel Price Shock
12 Mar 2026
Contributed by Lukas
After US and Israeli strikes on Iran and the closure of the Strait of Hormuz, oil markets have been on a rollercoaster. While crude has rallied above ...
Crude and oil products markets shaken by major conflict in the Middle East
04 Mar 2026
Contributed by Lukas
US and Israeli strikes on Iran since Feb. 28 have led to a major regional conflict, which has rocked geopolitics and resonated across the global oil s...
Asian refiners weigh impact on crude flows from geopolitical developments
26 Feb 2026
Contributed by Lukas
The outlook for Russian and Venezuelan crude flows, as well as geopolitical developments in Iran, are keeping Asian refiners on edge. Indian refinerie...
Dissecting the oil market headlines from London's IE Week
19 Feb 2026
Contributed by Lukas
Geopolitics and its impact on pricing and trade flows were the talk of the town as oil market participants convened in the cobbled streets of London a...
Upstream Ambitions, Refining Resilience: What Earnings Season Signals for 2026
12 Feb 2026
Contributed by Lukas
In this episode of the Oil Markets Podcast by S&P Global Energy, host Jeff Mower, Director of Americas Oil News, is joined by Senior Refining Editor J...
EU sanctions reshape Europe's refined product flows
05 Feb 2026
Contributed by Lukas
Europe's dependence on imported middle distillates is in sharper focus after the EU's 18th sanctions package halted imports of refined products proces...
Forced flows: How new European sanctions are reshaping Asian gasoil and jet fuel markets
29 Jan 2026
Contributed by Lukas
Tighter European sanctions targeting refined products made from Russian crude are accelerating shifts in global middle distillate trade flows, with As...
Dated Brent rallies but price reversal on the cards
22 Jan 2026
Contributed by Lukas
Dated Brent differential soars to three-year high amid a supply crunch driven by disrupted flows of Kazakhstan's CPC Blend crude. However, market part...
Venezuela Reopened? Trump, Sanctions, and the Heavy Crude Shock
15 Jan 2026
Contributed by Lukas
A sudden shift in US policy has put Venezuela back at the center of global oil markets. US and international oil executives are striking different ton...
Sanctions, tariffs and shifting trade flows: a look at global oil markets in 2026
12 Dec 2025
Contributed by Lukas
Sweeping changes to crude and product flows following sanctions and tariffs, shipping disruptions and questions surrounding China's demand outlook—o...
Uncertainty around WAF government policy and expected refinery maintenance sees European gasoline markets rally
04 Dec 2025
Contributed by Lukas
In the winter months, demand for gasoline in Europe softens, and stocks in the Amsterdam-Rotterdam-Antwerp hub begin to thicken. But recent developmen...
The roadmap for the energy sector as it embraces AI across functions
27 Nov 2025
Contributed by Lukas
The adoption of AI among energy and shipping companies is growing steadily. While it's helping to cut operational costs, boost productivity, and reduc...
Crude markets react to firm freight rates and Atlantic oversupply
20 Nov 2025
Contributed by Lukas
Physical differentials in the North Sea crude market and wider Atlantic basin have reached multiyear lows amid high freight rates and market length in...
Fleet constraints, rising rates
13 Nov 2025
Contributed by Lukas
Global tanker markets are riding high as shipowners post strong third-quarter earnings amid bullish forecasts. What's driving the surge in day rates? ...
The final countdown: Europe readies for full Russian LPG ban
06 Nov 2025
Contributed by Lukas
Europe's 19th sanctions package has promised to shut the door on the last remaining flows of Russian energy still trading into the region, including b...
Low prices, high stakes in the Caribbean
30 Oct 2025
Contributed by Lukas
The US has ramped up its naval presence in the Caribbean, following several strikes against suspected drug smuggling vessels off the coast of major oi...
With winter approaching, Asian diesel and jet fuel markets react
23 Oct 2025
Contributed by Lukas
In this Oil Markets podcast, we discuss the outlook for diesel and jet fuel/kerosene demand in Asia in the fourth quarter of 2025. This period is alwa...
Kirkuk crude resurgence: Navigating new trade dynamics
16 Oct 2025
Contributed by Lukas
Following the resumption of Kirkuk crude exports on September 27, 2025, the oil markets are poised for significant shifts. This development marks a cr...
High sulfur fuel oil prices get a boost from rising US crude exports
09 Oct 2025
Contributed by Lukas
A jump in US crude exports has helped to boost prices for high sulfur fuel oil, supplies of which are currently tight. What is driving demand for US c...
EU sanctions package on Russian oil set to reshape European diesel and jet trade flows
02 Oct 2025
Contributed by Lukas
With European imports of products refined from Russian crude oil set to be banned in the beginning of 2026, the spotlight is on exporters such as Indi...
Insights from APPEC 2025 on China's oil demand and global shipping
25 Sep 2025
Contributed by Lukas
In the wake of APPEC 2025, China's evolving oil demand and the impact on global shipping markets are in the spotlight. With China's oil consumption sl...
What impact is Dangote's ramp-up having on the global fuel oil market?
18 Sep 2025
Contributed by Lukas
Dangote's RFCC outage has added additional length to the global fuel oil market, with Singapore blending significant volumes of feedstocks into their ...
Seasonal gasoline transition in US shapes refining strategies, blendstock trade
11 Sep 2025
Contributed by Lukas
As the US transitions to higher-volatility gasoline grades, refiners are adjusting their strategies to balance supply and demand amid seasonal mainten...
What is behind diverging LPG fundamentals over the summer period?
04 Sep 2025
Contributed by Lukas
During the summer season, warmer temperatures and muted levels of demand should traditionally bring length to the LPG markets. This certainly appears...
APPEC to look at Asia's changing energy narrative amid tariffs and transition
28 Aug 2025
Contributed by Lukas
APPEC to look at Asia's changing energy narrative amid tariffs and transition Navigating trade, technology and transition—that's the theme of thi...
Drones hammer Russian, Ukrainian energy infrastructure amid push for peace deal
21 Aug 2025
Contributed by Lukas
The world's attention has turned the US in recent days after back-to-back peace summits separately involving Russia's and Ukraine's presidents. But in...
What's in store for US diesel and jet?
14 Aug 2025
Contributed by Lukas
US diesel prices have rallied this summer as strong export demand has helped to tighten inventories, while jet fuel prices have remained stable. With ...
Tainted crude: Europe responds to Azeri Light contamination
07 Aug 2025
Contributed by Lukas
An outbreak of crude contamination impacting Azerbaijan's Azeri Light supply has set Europe's refiners on edge. As buyers seek to avoid being hit wit...
Tightness in USGC heavy crude puts spotlight on Canadian access
31 Jul 2025
Contributed by Lukas
Heavy crude supplies to the US Gulf Coast have tightened. Waterborne imports have dropped sharply, driven largely by declines from Mexico and Venezuel...
EU sanctions, ceasefire, and OPEC+ move—what are the implications for Asia
24 Jul 2025
Contributed by Lukas
Oil is going through a period of uneasy calm. The higher-than-expected rise in OPEC+ production quotas for August, combined with a ceasefire betwee...
Second UK refinery collapse puts focus on survivors
17 Jul 2025
Contributed by Lukas
With the UK at risk of losing its second oil refinery in less than six months, Europe's refining sector is showing growing signs of strain. In this ep...
LPG boom: Exports, tariffs, and summer demand support North American NGLs
10 Jul 2025
Contributed by Lukas
In this episode, the Americas NGLs pricing team discusses Gulf Coast and Canada NGL market dynamics. Light ends manager Sarah Hernandez and LPG report...
A dive into distillates: The latest on Europe's diesel and jet fuel markets
03 Jul 2025
Contributed by Lukas
With European middle-distillate markets remaining well-supplied amid turbulence in the Middle East, the prospect of new legislation regarding the orig...
Airstrikes on Iran put oil war premiums in the spotlight
26 Jun 2025
Contributed by Lukas
Oil prices rallied following Israeli attacks on Iranian nuclear and military targets, but just as quickly reversed after the US bombed three of Iran's...
Middle East flare-up and ramifications for European oil markets
19 Jun 2025
Contributed by Lukas
A sudden ramp-up in tensions as Israel and Iran exchange blows has proved impactful for oil markets in the EMEA region. In this episode of the Platts ...
Energy Asia to shine spotlight on transition, trade, and turbulence
12 Jun 2025
Contributed by Lukas
Energy Asia will be held from June 16-18, 2025, in Kuala Lumpur, Malaysia. The role of national oil companies in securing a net-zero future, the chall...
Atlantic gasoline heats up amid refinery shifts and US demand
05 Jun 2025
Contributed by Lukas
The Memorial Day weekend in the US is often considered the kickoff to the summer driving season, a period of heightened gasoline demand where families...
Mexico's gasoline crunch
29 May 2025
Contributed by Lukas
Mexico is facing regional gasoline shortages as its refining system struggles to meet demand, deepening reliance on U.S. imports. With the Dos Bocas r...
Global shipping, oil industries prepare for roll out of USTR's historic measures
22 May 2025
Contributed by Lukas
The proposed 2025 Section 301 actions by the US Trade Representative (USTR) against China's maritime, logistics, and shipbuilding sectors could reshap...
Two years of WTI Midland in Dated Brent
15 May 2025
Contributed by Lukas
In this episode of the Oil Markets podcast, host Joel Hanley is joined by front-line North Sea reporters Natasha Tan and Joey Daly to mark the second ...
Guyana shakes up oil markets as Yellowtail emerges
08 May 2025
Contributed by Lukas
Guyana's latest crude stream is due to reach the market in the third quarter, adding 250,000 b/d to the South American country's production capacity. ...
How has the outlook shifted for LPG and naphtha as macroeconomic uncertainty looms?
01 May 2025
Contributed by Lukas
When the US began announcing tariffs a month ago and China hit back with reciprocal tariffs, the whole oil market complex tumbled. Despite a relative ...
From tariffs to OPEC+ output increase – how will Asia navigate through the changes?
24 Apr 2025
Contributed by Lukas
The sweeping reciprocal tariffs announced by the United States in early April, followed by China's retaliatory levies on US imports, along with OPEC+'...
Two weeks after Trump's 'liberation day' - how have the oil paper and physical markets responded?
17 Apr 2025
Contributed by Lukas
Following the swathe of protectionist tariff measures announced by US President Donald Trump April 2nd, the crude oil complex was sent into a frenzy, ...
More players bring competition to Brazil's refined products markets
10 Apr 2025
Contributed by Lukas
"O Petróleo é Nosso," or "The Oil is Ours," was a popular slogan central to the founding of Brazil's state-owned oil company, Petrobras, in 1953. Th...
Fuelling change: May 1st Mediterranean Emissions Control Area and marine fuels
03 Apr 2025
Contributed by Lukas
With the May 1st deadline for Mediterranean Emissions Control Area fast approaching, marine fuel suppliers and shipowners are bracing for impact. In t...
Ceasefire, sanctions and tariffs: implications for Asian oil flows
27 Mar 2025
Contributed by Lukas
Russia's temporary halt on attacks on Ukraine's energy infrastructure has raised hopes of the two countries eventually moving towards a peace deal, fo...
Gasoil in the Mediterranean: emissions control zones and emerging opportunities
20 Mar 2025
Contributed by Lukas
The Mediterranean gasoil market is undergoing significant changes as new Emission Control Zones come into effect, drastically altering sulfur limits f...
Bonus episode: At CERAWeek, big tech and big energy cozy up
14 Mar 2025
Contributed by Lukas
The tech industry came in hot at the CERAWeek by S&P Global conference in 2025, and the conversation shifted from decarbonization and energy...
Weak Northwest European gasoline and naphtha fundamentals challenge seasonal expectations
13 Mar 2025
Contributed by Lukas
The beginning of spring marks the start of gasoline's seasonal transition from winter into summer specification but the market fundamentals remain und...
Trump tariffs highlight US refiner dependence on Mexico and Canada
06 Mar 2025
Contributed by Lukas
New US tariffs on imports from Canada and Mexico are highlighting the dependence of US refiners and consumers on crude and refined products from both ...
India Energy Week shines spotlight on policies, diplomacy and supply strategy
27 Feb 2025
Contributed by Lukas
India Energy Week brought together thought leaders, industry pioneers and curious minds from around the globe to discuss the future of energy in India...
CPC pipeline damage and oil market implications amid ongoing Russia-Ukraine war
20 Feb 2025
Contributed by Lukas
In what was the first direct hit from drone attacks on the Caspian Pipeline Consortium route since the onset of Russia's invasion of Ukraine in 2022, ...
Deal or no deal: Trump, Iran, Venezuela, and a million barrels of oil
13 Feb 2025
Contributed by Lukas
Since his return to the US presidency, Donald Trump has launched a maximum-pressure campaign on Iran in pursuit of a nuclear deal, in sharp contrast w...
India Energy Week to seek answers on demand trajectory, oil diplomacy and upstream push
07 Feb 2025
Contributed by Lukas
India's rapidly growing energy demand, the shifting focus of oil producers towards the country, and the transition to cleaner energy sources are key t...
Oil markets navigate Trump's tough talk and tariffs
06 Feb 2025
Contributed by Lukas
A fast-paced beginning to the second Trump presidency has sent ripples across financial and commodities markets globally with tough talk on sanctions ...
New sanctions on tankers and implications for China and India's oil imports
31 Jan 2025
Contributed by Lukas
The recent expansions of the US Office of Foreign Asset Control (OFAC) vessel sanction list have sent shockwaves throughout the tankers and crude oil ...
Understanding the rise in Northwest European gasoline stocks
23 Jan 2025
Contributed by Lukas
With European stockpiles of gasoline reaching uncharacteristically high levels in recent weeks, Joel Hanley is joined in this episode by Ernest Puey a...
2025 opens with fire and ice for US refiners
16 Jan 2025
Contributed by Lukas
US refiners have had a dramatic start to the new year, facing wintry blasts on the East Coast and devastating wildfires on the West Coast. Plummeting ...
Exploring the dynamics of Midland crude supply and Asian demand in the Atlantic market
09 Jan 2025
Contributed by Lukas
High volumes of WTI Midland crude arrived in Europe in December, significantly impacting light sweet sentiment in both the North Sea and West African ...
Oil market dynamics in 2024 and the path to 2025
12 Dec 2024
Contributed by Lukas
It's been quite the year for oil markets. In this special episode of the podcast, Joel Hanley, Jeff Mower, Sambit Mohanty and Richard Swann look back ...
Returning Russian gasoline exports, implications for global product markets
05 Dec 2024
Contributed by Lukas
The Russian government's announcement of the partial resumption of gasoline exports by the country's refineries comes at a time when global oil produc...
Chinese exports' tax rebate cuts: a precursor to another US-China trade war in 2025?
28 Nov 2024
Contributed by Lukas
China will slash its clean oil product export tax rebates from 13% to 9% starting December 1, which will likely dampen outflows from Asia's third-lar...
The African refining revolution: challenges and opportunities
21 Nov 2024
Contributed by Lukas
After several false starts in developing domestic refining capacity, the African continent is now home to one of the world's largest refineries. But w...
What will Trump's second term mean for US refining and biofuels?
14 Nov 2024
Contributed by Lukas
Much has been said about Donald Trump's ambitions in upstream oil sector, specifically his promise to unleash US oil producers and boost output. Conve...
Price, not the president: OPEC+ policy as Trump returns
07 Nov 2024
Contributed by Lukas
The election of Donald Trump for a second term as US president has brought significant attention to US energy policy. Meanwhile, OPEC+ announced on No...
Permian production and potential pipeline pileups
31 Oct 2024
Contributed by Lukas
Crude production in the Permian Basin is growing, but pipeline capacity growth out of the West Texas/New Mexico play is lagging. With Permian crude ou...
Asia's affinity for US crude: Can geopolitics, sanctions and elections affect trade flows?
24 Oct 2024
Contributed by Lukas
The footprint of US crude oil is rapidly expanding, intensifying competition with OPEC and non-OPEC supplies in key Asian markets. As geopolitical ten...
What is driving the counter-seasonal strength in European fuel oil markets?
17 Oct 2024
Contributed by Lukas
As high sulfur fuel oil cracks in Europe hover at year-to-date highs outside of their traditional summer peaks, reporters Tommy Petrou and Takis Gouna...
California's battle against high gasoline prices
10 Oct 2024
Contributed by Lukas
California gasoline prices are notoriously volatile, and state's lawmakers are taking notice. California's Senate is considering a bill proposed by Go...
EMEA crude spot markets navigate volatility amid Middle East escalation
03 Oct 2024
Contributed by Lukas
As oil derivatives and futures contracts navigate volatile seas, how are the more prompt physical spot markets reacting to an expected return of Libya...
Oil demand in India and China: A tale of two nations in the New Energy age
26 Sep 2024
Contributed by Lukas
Oil demand in India and China—the two Asian giants—was a key topic of discussion at the Asia Pacific Petroleum Conference. China's oil demand go...
Europe's refining crisis: Grangemouth's closure and its ripple effects
19 Sep 2024
Contributed by Lukas
The impending closure of Grangemouth, one of the last six refineries in the UK, raises urgent questions about the future of Europe's refining landscap...
Growing non-OPEC crude output pulls plug on price rally
12 Sep 2024
Contributed by Lukas
Crude futures prices have tumbled recently in part as supply expectations are outweighing demand forecasts. On the supply side, non-OPEC crude product...
Market-moving Libya back in the spotlight
05 Sep 2024
Contributed by Lukas
Since the politically motivated suspension of crude oil production in Libya on August 26, the oil markets have experienced a heightened level of volat...
APPEC to shine spotlight on how Asia is navigating a multi-faceted energy future
29 Aug 2024
Contributed by Lukas
Emerging trends in Asian oil consumption centers, enhancing energy security and the decarbonization strategies Asian countries are pursuing will be s...
China's slowing economy spells a downturn for US crude exports
22 Aug 2024
Contributed by Lukas
Economic growth has slowed in China, cutting into US crude exports and softening spot price differentials for US Gulf Mars crude. The expected supply ...
Can OPEC+ hold its nerve on supply as demand stutters?
15 Aug 2024
Contributed by Lukas
OPEC's latest and eagerly watched monthly oil market report, which presented a softer near-term demand outlook compared to its July forecasts, has coi...
Venezuela's oil future is up for grabs in election contest
08 Aug 2024
Contributed by Lukas
The future of Venezuela's oil industry is in the crosshairs of a political battle. Current president Nicolás Maduro is fighting to maintain power fol...
Shifting flows: US diesel displaces Middle Eastern supply to Europe
01 Aug 2024
Contributed by Lukas
In July, US diesel exports to Europe surged to multi-year highs, displacing Middle Eastern flows due to inverted arbitrage economics and a bearish nea...
Middle Eastern vs Russian crude - the tug-of-war to woo Indian refiners
25 Jul 2024
Contributed by Lukas
Never before India's oil import basket has changed so dramatically as it has changed in the past three years. The sharp rise in the share of Russian b...
How is Dangote's crude supply diversification disrupting global trade flows?
18 Jul 2024
Contributed by Lukas
The Dangote refinery in Nigeria is poised to disrupt refined product flows in the Atlantic Basin just months after its long-awaited commissioning in e...
A jet-setting summer crowns a new king of the barrel
11 Jul 2024
Contributed by Lukas
Summer flying season has taken over for summer driving season. Jet fuel prices and demand have surged to record levels in June and July, and US offici...
Navigating Russian oil flows amid tightening sanctions
04 Jul 2024
Contributed by Lukas
The European Union's decision on 24 June to target Russian shipping company Sovcomflot in its latest round of sanctions comes as ship tracking data sh...
Is Asian jet fuel demand stalling as aviation recovery struggles for a lift?
27 Jun 2024
Contributed by Lukas
The aviation sector post-pandemic recovery was seen as a bright spot for regional oil demand this year. However, with uneven recovery within the indus...
Road fuel availability dampens price sentiment ahead of US driving season
20 Jun 2024
Contributed by Lukas
The Northern Hemisphere summer's regular star of the oil barrel, gasoline, has entered its traditional season of price strength with the market struct...
Atlantic Canada's offshore oil potential
13 Jun 2024
Contributed by Lukas
Canada's Newfoundland and Labrador province is sitting on an estimated 124 billion barrels in offshore crude reserves with access to global export mar...
Decoding the OPEC+ meeting: crude output increases in 2024
06 Jun 2024
Contributed by Lukas
Oil prices slumped after OPEC+ announced deals to ease voluntary crude output cuts in the last quarter of 2024 and extend group-wide production quotas...
Mexico's energy future hinges on election outcome
30 May 2024
Contributed by Lukas
Mexico's presidential election on 2 June comes at a time of declining crude and natural gas production and uncertainty over the country's transition t...
Naphtha flow from Africa's Dangote refinery boosting product tankers
24 May 2024
Contributed by Lukas
Nigeria's Dangote refinery, built at a cost of $20 billion and is Africa's largest, has started exporting naphtha to North Asian markets at a time wh...
How are crude prices reacting to a lengthening Atlantic Basin market?
16 May 2024
Contributed by Lukas
As European refineries return from seasonal maintenance, ample prompt supply in the North Sea, Mediterranean and West African crude markets suggests t...
Diesel flows shift as Brazil fuels up
09 May 2024
Contributed by Lukas
Diesel imports into Brazil have risen in recent months, but remains below a recent peak seen in January as the South American country deals with new p...