Crude oil
Union: Kuwait’s oil, gas worker strike remains on course for Sunday
"There are no negotiations between the unions and the government over the strike," Farhan al-Ajmi, head of the Petrochemicals Industries Co. workers union, told Reuters.
Kuwait’s oil, gas workers plan to go on strike
Workers fear reduced salaries, benefits and layoffs will be part of a planned government overhaul of the payroll system in the public sector, according to the union.
US crude stocks unexpectedly fall as refiners run in overdrive
The EIA report was "modestly supportive" with the jump in refinery runs and fall in imports "obvious catalysts in causing overall crude oil inventories to decline," a key analyst said.
Asian refiners turn to Middle East’s heavy crudes over Latin America
Latin American crude sold to Asia fell 1% in the first three months of 2016 from a year ago, while Middle East exports to Asia rose 7% in the first quarter, according to new data.
Strong oil demand from China’s teapot refiners drives tanker jam
China's independent refiners, freed of government constraints after securing permission to import just last year, have gorged on plentiful low-cost crude in 2016. This has created delays for tankers that have quadrupled to between 20 to 30 days at Qingdao port in Shandong province.
Oil prices extend losses as gasoline glut looms
The decline on Tuesday follows data showing US gasoline demand during January fell for the first time in 14 months, while overall US oil demand fell 1% that month from a year ago.
Industry Metrics
US product markets weakened despite strong domestic gasoline demand.
US, Indian gasoline demand boosts outlook for oil
Hedge funds have turned very bullish about the outlook for oil prices based on indicators showing strong gasoline demand in the US and India.
Iran’s lack of storage access limits oil exports to European refiners
Some 45-50 million barrels of Iran's oil are estimated to be held in tankers at sea, barely changed from the amounts thought to be in floating storage before sanctions were lifted at the start of the year.
Oil price war scares sense of US energy security
Imports will almost certainly increase further over the remainder of the year as refineries ramp up production to meet record gasoline consumption and US crude output continues to decline.
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