Economics
Oil prices rise after new EU sanctions on Russia
The EU reached an agreement on an 18th sanctions package against Russia over its war in Ukraine, which includes measures aimed at dealing further blows to Russia's oil and energy industries.
China's refined oil exports dip 0.6% in June but hit 12-month high
China's exports of refined products, including diesel, gasoline, aviation fuel and marine fuel, fell 0.6% year-on-year to 5.34 MMt in June, though the figure marked the highest monthly total since June 2024.
What's in the EU's 18th sanctions package against Russia?
Here are the details of the European Union's 18th sanctions package against Russia over its war in Ukraine, approved on Friday and aimed at dealing further blows to Russia's oil and energy industry.
China's surplus crude oil surges in June, giving refiners options
China accelerated the pace at which it is building crude oil stockpiles in June as the strongest imports in almost two years outweighed a rise in refinery processing.
China state refiners ramp up output on rising demand, stock rebuild
Chinese state-owned refiners are ramping up output after completing maintenance to meet higher third-quarter fuel demand and to rebuild diesel and gasoline stocks which are at multi-year lows.
Argentina raises biofuel prices for domestic market
The Argentine government raised the prices of biofuels for mandatory local blending on Monday.
Dow to close three European chemical plants, cut 800 jobs
Dow Chemical will shut down three chemical plants in Europe and cut around 800 jobs in response to structural challenges in the region, the chemicals company said. The company said the shutdowns will remove higher-cost, energy-intensive portions of Dow's portfolio in Europe.
Gunvor plans to halt oil terminal activities at Europoort refinery
Global commodities trading house Gunvor intends to mothball the terminal activities at its Europoort oil refinery in Rotterdam, Netherlands
EU to set up Critical Chemical Alliance to secure supply chains
The European Commission will work with EU member states and the chemicals sector to support production of chemicals identified as critical for Europe's industrial supply chains, the EU executive said.
Refinery closures may lead to higher gasoline prices on the U.S. West Coast
California is set to lose 17% of its oil refinery capacity over the next 12 months because of two planned refinery closures. If realized, the closure of the facilities is likely to contribute to increases in fuel price volatility on the U.S. West Coast.
- Asian gasoline margin spikes to highest since August 2023 11/14
- Lukoil-Moldova grants free use of airport fuel terminal to government amid U.S. sanctions 11/14
- Croatia rejects Russian vacuum gasoil cargo after U.S. sanctions 11/14
- Bulgaria wins UK sanctions reprieve on refinery, petrol stations 11/14
- China's Sinochem shuts one crude unit at Quanzhou after fire 11/14
- Enbridge approves $1.4-B project to boost Canadian oil flows to U.S. refiners 11/14
