Oil Markets
Episodes
How has the Russia-Ukraine war impacted diesel and gasoil markets?
21 Apr 2022
Contributed by Lukas
What exactly defines the origin of an oil product? How is self-sanctioning affecting Russian diesel and gasoil exports? And how is Russian-origin dies...
Heavy hunting: The search for alternative heavy sour crudes in the global market
14 Apr 2022
Contributed by Lukas
In the ever-evolving crude market, the dearth of crude from Iran, Venezuela and, most recently, Russia, has led Asian refiners to buy up tight supplie...
Are high prices and strong structure here to stay for light sweet crude, or have OPEC+ and the US relieved the tension?
07 Apr 2022
Contributed by Lukas
In this episode of the Oil Markets Podcast, S&P Global Commodity Insights editors Paul Hickin, Emma Kettley, and Sam Angell discuss with Joel Hanley t...
Resurgence of COVID-19 threatens oil demand revival in Asia
31 Mar 2022
Contributed by Lukas
Asia's sustained oil demand revival over the last few months may face a fresh setback following COVID-19 outbreaks in China and other countries in th...
Americas shipping, bunkers hit rough waters on crude volatility
24 Mar 2022
Contributed by Lukas
As global oil markets continue to react in real time to the ongoing conflict in Europe, downstream sectors and interconnected industries are also begi...
Fuelling the Russian shortfall
17 Mar 2022
Contributed by Lukas
Europe's high sulfur fuel oil requirements largely depend on exports from Russia. In this episode of the Oil Markets Podcast, S&P Global Commodity Ins...
Russia-Ukraine conflict pushes European commodities to new highs
10 Mar 2022
Contributed by Lukas
Oil markets – and others – are seeing record prices and intense volatility as Russia's invasion of its neighbor continues. S&P Global Commodity In...
Russia-Ukraine conflict aggravates oil supply worries for Asian buyers
03 Mar 2022
Contributed by Lukas
Russia's invasion of Ukraine has stalled oil supplies to refiners in Asia as buyers remain wary of the fallout of the widespread sanctions imposed on...
$100/b oil - Implications for Asia, the world and energy transition
23 Feb 2022
Contributed by Lukas
When the outbreak of the COVID-19 pandemic decimated global oil demand and pulled down prices to their lows in 2020, not many would have believed that...
Crude oil markets soar while Russian sellers count the cost
17 Feb 2022
Contributed by Lukas
Europe's sweet/sour crude price spread has widened on strong distillate demand and caution over Russian barrels. Platts reporters Emma Kettley and Iai...
US octanes see bearish expectations on premium grade blending
10 Feb 2022
Contributed by Lukas
While not always at the forefront of the market, low RVP, high octane blendstocks such as alkylate and reformate are necessary blending components whi...
How would sanctions against Russia impact European oil markets?
03 Feb 2022
Contributed by Lukas
While diplomatic talks between the US and Russia continue, questions are raised about what consequences, if any, would new economic sanctions have on ...
The good, bad and the ugly for Asian oil markets in 2022
27 Jan 2022
Contributed by Lukas
There is growing optimism that 2022 will turn out to be the strongest year for Asian oil demand since the outbreak of COVID-19 more than two years ago...
Jet fuel values buck falling passenger trend
20 Jan 2022
Contributed by Lukas
Despite falling passenger numbers, airlines are facing soaring fuel bills. S&P Global Platts reporters Virginie Malicier and Lawrence Toye discuss wit...
US crude oil exports here to stay as world demand continues to recover in 2022
13 Jan 2022
Contributed by Lukas
Looking ahead into 2022, US crude oil export flows will continue to recover and grow as demand and prices surge, but will we see export volumes return...
Oil Markets in 2021: a very fragile recovery
16 Dec 2021
Contributed by Lukas
As the world has slowly emerged from a lockdown-ridden 2020, the oil markets have had to adjust. Platts reporters from around the world discuss the fu...
As the SAF market expands, policy support is needed
09 Dec 2021
Contributed by Lukas
Sustainable aviation fuel is gaining popularity among renewable fuel manufacturers. The SAF market is poised for rapid growth in the coming years as g...
Omicron's Black Friday injects new fragility
01 Dec 2021
Contributed by Lukas
Oil markets crashed on the emergence of the omicron variant of COVID-19, leaving market jitters and increased volatility. S&P Global Platts reporters ...
Asian jet fuel market takes off after a long hiatus; airlines eye sustainable fuels
25 Nov 2021
Contributed by Lukas
The Asian jet fuel market is finally witnessing renewed interest after COVID-19 unleashed an unprecedented crisis in the aviation industry. Heightened...
European road fuel market dynamics under a heavy oil complex backwardation
18 Nov 2021
Contributed by Lukas
The strong backwardation in diesel and gasoline forward pricing is reflective of a tight fundamental picture for road fuels in Europe as demand steadi...
Colonial Pipeline allocations return on higher demand, lower imports
11 Nov 2021
Contributed by Lukas
Demand to ship gasoline on Colonial Pipeline has outpaced available space since October, a first in 19 months. The Atlantic Coast has seen higher dema...
Brent's role in key international spreads reveals regional and quality dislocations
03 Nov 2021
Contributed by Lukas
The continued strength in the Brent complex as a whole, demonstrated by the Dated Brent benchmark breaching the $85/b threshold in late October, masks...
Asian crude importers dip into strategic reserves as oil prices bite
28 Oct 2021
Contributed by Lukas
In a shift of strategy to battle surging oil prices, Asia's leading oil consumers India and China have started selling crude oil from their strategic ...
High energy prices add to tightness in the European middle distillates complex
21 Oct 2021
Contributed by Lukas
High natural gas prices are leading to both a tighter European supply of middle distillates and greater global gasoil demand, while the diesel cargo m...
How have panic buying and the E10 launch impacted UK gasoline and diesel?
07 Oct 2021
Contributed by Lukas
Car tanks may be running empty in the UK after panic buying at the pumps amid a lack of lorry drivers to bring supply from refineries and oil terminal...
APPEC shines spotlight on Asia's energy future and surging oil, gas prices
04 Oct 2021
Contributed by Lukas
The dramatic revival of oil and gas prices, the future of fossil fuels in a changing energy landscape, and the role energy will play in the recovery p...
How are rising prices and new green regulation impacting heating oil demand?
23 Sep 2021
Contributed by Lukas
Just as the summer finally comes to an end and mornings become chilly, we would be expecting demand for heating oil to ramp up in Europe, as no boom h...
Will the delta variant prevent a rebound in oil demand this year?
16 Sep 2021
Contributed by Lukas
The IEA may have revised down their oil demand estimates for the third quarter of this year, but looking further ahead both OPEC and IEA expect demand...
Spike in scrubbers, power demand keeps HSFO afloat despite drive for cleaner fuels
09 Sep 2021
Contributed by Lukas
Scrubber's uptick in the marine sector amid a favorable Hi-5 spread along with demand for high sulfur fuel oil for power consumption in Asia is helpi...
Destruction, power outages caused by Ida disrupt oil market
02 Sep 2021
Contributed by Lukas
It's been quite the week in energy markets, as Hurricane Ida hit the Louisiana coast, causing damage, power outages and destruction to the regular sup...
Can rising fuel prices derail Asia's oil demand recovery, economic growth?
26 Aug 2021
Contributed by Lukas
Asia is witnessing signs of rising mobility, improving the demand outlook for transportation fuels. It has also raised hopes for a sustained oil prod...
What's happening to the supply and demand balance for road fuels in Europe?
19 Aug 2021
Contributed by Lukas
All eyes are on supply in European diesel markets, where demand has remained relatively stable at almost back to pre-pandemic levels, but due to the s...
EPA and RVPs upend US light end markets
12 Aug 2021
Contributed by Lukas
An alphabet soup of changes have impacted US light end markets in the last year, including changes in environmental rules that have readjusted the ent...
Middle East tanker attacks highlight oil supply risks, raise geopolitical tensions
05 Aug 2021
Contributed by Lukas
On July 29, the oil product tanker Mercer Street was victim of a deadly drone attack, while a few days later another tanker, the Asphalt Princess, was...
China's oil import outlook brightens after tumbling in H1
29 Jul 2021
Contributed by Lukas
China, Asia's biggest oil consumer, saw its January to June crude oil imports post negative growth for the first time in eight years, pulled down by s...
Will jet fuel demand ever recover to pre-pandemic levels in Europe?
22 Jul 2021
Contributed by Lukas
Cash differentials for jet fuel barges trading in ARA reached 17-month highs mid-July. At the same time, the European Commission announced sweeping pr...
Steeper crude backwardation puts pressure on African crude oil
15 Jul 2021
Contributed by Lukas
Against a backdrop of growing Coronavirus infections and OPEC+ discord, oil prices keep rising. How can long-haul crude cargoes stay competitive as ba...
For Canada's crude market, it's a time of trials and tribulations
09 Jul 2021
Contributed by Lukas
It's been a tumultuous stretch for Canadian crude as the coronavirus pandemic and infrastructure uncertainty have impacted the market. However, prices...
Road transportation fuel prices diverge as jet fuel weighs down middle distillate complex
01 Jul 2021
Contributed by Lukas
Gasoline prices are rallying on underlying demand strength in Europe, West Africa and across the Atlantic, while diesel prices remain steady amid stag...
Energy transition to reshape future oil trade flows and business models
24 Jun 2021
Contributed by Lukas
In a fast-changing landscape where energy transition is the most popular catch phrase, the trading community is looking for answers on what's in store...
Rising bunker fuel costs hammer down on tanker shipowners' earnings
18 Jun 2021
Contributed by Lukas
While demand for tankers of clean and dirty oil products has yet to recover fully from the pandemic, prices of bunker fuels have been rising to 16-mon...
US Atlantic Coast sees surge in gasoline imports
10 Jun 2021
Contributed by Lukas
Gasoline imports into the US Atlantic Coast have surged to record highs in recent months. Andrea Salazar and Anna Trier of S&P Global Platts look at w...
Do fundamentals support the rise of crude futures to two-year highs?
03 Jun 2021
Contributed by Lukas
While the pandemic is far from over and coronavirus cases are still rising in some Asian countries, the front-month Brent crude futures breached on Ju...
Unpacking China's new tax: Implications on crude oil and refined product markets
01 Jun 2021
Contributed by Lukas
China on May 14 announced that it will implement a consumption tax on mixed aromatics, light cycle oil and bitumen blend from June 12 in an effort to ...
Road fuels in the balance on Colonial Pipeline and Covid recovery
20 May 2021
Contributed by Lukas
While the May 7 outage of the Colonial Pipeline prompted fears of fuel shortages on the US Atlantic Coast, it also led to talk of extra gasoline and d...
US Gulf Coast crude differentials linger at pre-pandemic levels
13 May 2021
Contributed by Lukas
Global crude prices have staged an impressive rally, recovering to pre-COVID levels. However, many US Gulf Coast crude differentials and regional spre...
Will vaccine passports bring the jet fuel market back to life?
06 May 2021
Contributed by Lukas
While the European jet fuel market has yet to recover from the pandemic and continues to trade at low cash premiums, will demand for aviation fuel be ...
India in focus: Oil demand concerns and weathering the COVID-19 storm
29 Apr 2021
Contributed by Lukas
The astronomical surge in India's COVID-19 cases to record highs has baffled policymakers and overwhelmed the country's medical infrastructure. The ...
How the divergence between gasoline and diesel is boosting low sulfur VGO
20 Apr 2021
Contributed by Lukas
While the European gasoline market has been increasing strengthening versus its middle distillates counterpart, weighed down by COVID-19 restrictions ...
US gasoline markets continue to feel effects of Texas freeze
15 Apr 2021
Contributed by Lukas
Soybean futures continue to support RVO prices as the US market awaits a Supreme Court decision to determine the future of small refinery exemptions. ...
The new Suez Crisis: what effect has Ever Given had on oil markets?
01 Apr 2021
Contributed by Lukas
While the grounding of the Ever Given in the Suez Canal has created countless memes, it has also reminded the world on the fragility of supply chains....
Slow burn: Asia's cautious approach to sustainable aviation fuel
26 Mar 2021
Contributed by Lukas
Major airlines in Asia have identified sustainable aviation fuel as having a potential to make a significant contribution to the global goal of reduci...
IMO 2020, COVID-19 drive turbulence in the fuel oil complex
18 Mar 2021
Contributed by Lukas
The market for low sulfur fuel oils – 0.1% S and 0.5% S – has tightened on the refinery response to COVID-19, while as a result of IMO 2020, lackl...
Pandemic, politics usher uncertainty into Brazil's diesel market
11 Mar 2021
Contributed by Lukas
Rising prices and a failed trucker strike last month have rocked the Brazilian diesel market this year. Petrobras, Brazil's state-owned oil company, h...
Can the crude recovery continue?
04 Mar 2021
Contributed by Lukas
With oil prices reaching 13-month highs, surprising many market analysts, are these higher levels here to stay and how might they impact production le...
Stocks management in focus as Asian refiners tackle oil products surplus
26 Feb 2021
Contributed by Lukas
Middle Eastern crude producers are sending fewer cargoes to Asia, but refiners in the region are unfazed. S&P Global Platts Head of News for Asia Mri...
What's driving the light ends spike in volatility?
18 Feb 2021
Contributed by Lukas
Bad weather on the US Gulf Coast and a rise in crude oil prices has added to volatility in the European naphtha paper market -- belying more balanced ...
Fuel oil markets come back into focus as global demand returns
11 Feb 2021
Contributed by Lukas
For fuel oil markets, 2020 was a strange year, as the global pandemic overshadowed implementation of the landmark IMO 2020 regulation. With global dem...
Jet fuel values still exposed to COVID effect
04 Feb 2021
Contributed by Lukas
The price of aviation fuel dropped to record lows at the start of the coronavirus pandemic. In this podcast, Platts reporters Emma Thomas and Chris Ew...
Cold spell drives oil resurgence in Asia's power sector
01 Feb 2021
Contributed by Lukas
The last few weeks saw temperatures in many parts of North Asia drop to record lows, and energy prices hit record highs. Platts JKM, the benchmark fo...
Naphtha rallies on petchem strength
21 Jan 2021
Contributed by Lukas
As most refined products struggle to find demand through the pandemic's destruction, naphtha has found itself riding on a three-year high crack spread...
Gains in WTI, robust petrochemical demand add strength to US NGLs
14 Jan 2021
Contributed by Lukas
US NGLs have strengthened across the board early in 2021, with some of those gains tied to increases in West Texas Intermediate and others linked in r...
Diesel faces up to the challenges of 2021
07 Jan 2021
Contributed by Lukas
As the major road freight fuel for Europe and beyond, how has diesel coped with the global pandemic and what are its prospects heading into the new ye...
2020 in Review: The year that changed everything
17 Dec 2020
Contributed by Lukas
As 2020 finally draws to a close, Oil Markets Podcast hosts from around the world – Mriganka Jaipuriyar, Joel Hanley and Richard Swann – gather to...
For flagship US crude, 2020 has been a year of challenges, changes
10 Dec 2020
Contributed by Lukas
It has been a big year for the US flagship crude, West Texas Intermediate, and in particular the way that grade is priced. Following significant growt...
Platts proposes WTI Midland's inclusion into Dated Brent
03 Dec 2020
Contributed by Lukas
With so much US crude now coming to Europe, Platts has announced a proposal to include US WTI Midland into the North Sea benchmark of Dated Brent. Jon...
The road ahead for Japan's crude and refined product imports
30 Nov 2020
Contributed by Lukas
The pandemic has pummeled Japan's oil demand and led to some dramatic drops in its crude imports and refinery runs. The onset of winter and subsequent...
Aviation looks to vaccine for boost in demand
19 Nov 2020
Contributed by Lukas
Jet fuel took center stage at the recent International Air Transport Association Fuel Forum, as the industry grapples with the demand destruction due ...
US diesel markets soar amid hurricanes' aftermath
11 Nov 2020
Contributed by Lukas
Diesel prices across the US soared last week, reaching multiyear highs in nearly every region. The aftermath of several hurricanes this year curtailed...
Lockdown 2.0: Products vs Pandemic
06 Nov 2020
Contributed by Lukas
As coronavirus cases rise sharply in Europe, many countries are entering into second lockdowns to curb the spread of the virus – but are the markets...
China in focus: Demand recovery, import outlook and peak oil scenarios
29 Oct 2020
Contributed by Lukas
China's GDP grew by 4.9% the third quarter, putting the country's economy back on an expansionary track. China is one of the very few countries to...
Crude throughput hindered on reduced refinery runs
22 Oct 2020
Contributed by Lukas
Despite demand for some refined products returning to pre-COVID levels, refinery margins in Europe have remained at all-time lows, leading to a bottle...
Signs of resilience in the African downstream markets
15 Oct 2020
Contributed by Lukas
For the first time, the African Refiners and Distributors Week was held virtually in the week commencing Oct. 5, discussing the challenges of the down...
US crude exports face reversal of fortune amid COVID-19 pandemic
08 Oct 2020
Contributed by Lukas
With global demand destruction and COVID-19 continuing to impact US production, the expected trajectory of US crude exports is vastly different than j...
Kerosene powering ships
01 Oct 2020
Contributed by Lukas
The COVID-19 pandemic continues to create interesting opportunities; one of the more surprising is seeing kerosene finding its way into marine fuel. P...
Flexibility, adaptability and efficiency are keys in surviving fragile oil demand environment
28 Sep 2020
Contributed by Lukas
Fresh from the recent Asia Pacific Petroleum Conference or Platts APPEC, Gawoon Phil Vahn and Surabhi Sahu join Mriganka Jaipuriyar to share ke...
US Gulf Coast naphtha sets sail to satisfy Asia's appetite
16 Sep 2020
Contributed by Lukas
US Gulf Coast market players looking to get light naphtha barrels off their hands, a hungry Asian market and weakened freight is the perfect arbitrage...
Prospects brighten for European floating diesel storage
11 Sep 2020
Contributed by Lukas
There is rising supply for European diesel and while demand is recovering it is still short of last year's levels, the pronounced contango this is pro...
Can Russia cope with its own bear market?
03 Sep 2020
Contributed by Lukas
Russia's slashing of crude output is well documented, but how are its internal markets coping with the impact of COVID-19? Joel Hanley asks Russia exp...
Asian HSFO markets endure IMO 2020, coronavirus challenges
27 Aug 2020
Contributed by Lukas
Light sulfur fuel oil has been the main marine fuel of choice worldwide, but high sulfur fuel oil has held its stead in Asia. S&P Global Platts senior...
Jet fuel rises above coronavirus with a new, greener assessment
20 Aug 2020
Contributed by Lukas
COVID-19 may have caused demand for jet fuel to plummet but S&P Global Platts and the wider industry are looking to the future with a newly launched E...
Ethanol surges as other fuel blending components tank
13 Aug 2020
Contributed by Lukas
As European road transport demand gradually recovers amid the coronavirus pandemic, the price of gasoline blending component ethanol has reached all-t...
Where next for oil prices as OPEC eases cuts?
06 Aug 2020
Contributed by Lukas
OPEC and its allies are loosening the reins around production cuts amid tentative signs of an oil demand recovery, which is likely to bring additional...
China under pressure to export more refined products after Q2 oil shopping spree
30 Jul 2020
Contributed by Lukas
While the rest of the world is still on a relatively slow recovery phase, China's crude imports and throughput levels are hitting record highs. Its GD...
Diesel and gasoil fortunes diverge as lockdowns ease
23 Jul 2020
Contributed by Lukas
As Europe emerges from its COVID-19 lockdown, diesel demand is flickering back to life. But can the same be said for gasoil? S&P Global Platts reporte...
Refineries brace for further headwinds from COVID-19 as recovery looks patchy
16 Jul 2020
Contributed by Lukas
Storm clouds still lurk over the refining sector as a combination of firm heavy crude prices and limited upside to light product prices squeeze margin...
A new benchmark for American crude to move on from a negative experience
10 Jul 2020
Contributed by Lukas
The American crude benchmark NYMEX WTI went negative in April, an event that sparked global questions of 'How?' and 'Why?' Now, the US crude industry ...
Shifting dynamics in store for Mediterranean LPG
02 Jul 2020
Contributed by Lukas
The closure for maintenance of the salt caverns at Lavera on the French Mediterranean coast poses some questions for the region's LPG market, especial...
Asia's ample US crude imports in H1 unlikely to rattle OPEC producers
30 Jun 2020
Contributed by Lukas
Asia's high volume of US crude imports in the first half 2020 could prove a false alarm for OPEC+ producers fretting over their shrinking share of the...
Fuel oil challenges expectations
19 Jun 2020
Contributed by Lukas
Turbulence in oil markets and shifting regulation has led to some surprising dynamics at the bottom of the barrel. Following S&P Global Platts' Europe...
A cautious recovery for gasoline as drivers look beyond coronavirus
11 Jun 2020
Contributed by Lukas
Rising driving demand has offered some support to the top of the barrel but, with expectations of higher demand also in evidence, higher inventories m...
Signs of China's crude demand recovery emerge
29 May 2020
Contributed by Lukas
Fuel demand across Northeast Asia plunged at the height of the coronavirus outbreak in the region over February and March. But the tide has since turn...
Green shoots for jet fuel in sight at the IATA conference
21 May 2020
Contributed by Lukas
There are some that say the aviation sector is on life-support but industry participants are already looking to signs of recovery, with no sign of dit...
Rising hygiene products demand and falling naphtha prices present opportunities for petchems
14 May 2020
Contributed by Lukas
Falling values for naphtha are stimulating margins for some petrochemical manufacturers, as COVID-19 sends people rushing to buy hand sanitizer and di...
Oil Markets extra: How do benchmarks cope in times of market stress?
13 May 2020
Contributed by Lukas
In this special bonus episode of the S&P Global Platts Oil Markets podcast, Dave Ernsberger, head of pricing and market insight, discusses with Joel h...
Heavy-duty trucks, buses offer fuel switching opportunities for hydrogen: Hyzon CTO
12 May 2020
Contributed by Lukas
New fuel cell electric vehicle manufacturer Hyzon Motors has made rapid progress since forming in March, already signing an MOU with a UK partner to d...
More turbulence ahead for jet fuel as forward structure gives a grim outlook
07 May 2020
Contributed by Lukas
The malaise in jet fuel and air traffic is grounding airmail and the outlook seems bleak for airlines as the contango in jet fuel stretches out ever f...
When it comes to crude, Chinese buyers are spoilt for choice
30 Apr 2020
Contributed by Lukas
A difficult road ahead for diesel
23 Apr 2020
Contributed by Lukas
The European diesel markets are in turmoil: demand has crashed – taking prices with it – and storage is filling up fast. Could we see a repeat of ...
Oil products struggle as IEA slashes refinery throughput forecast
17 Apr 2020
Contributed by Lukas
Oil products are succumbing to record breaking lows, with jet cracks entering record-breaking and negative territory, and refineries are presented wit...