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🔵 Crown Business Solutions - Weekly Oil & Gas Market Insight 🛢️ Analyzing Current Trends in the Oil & Gas Industry As we navigate through February, Crown Business Solutions brings you the latest and most accurate insights into the Oil & Gas market: 🔍 Key Market Developments This Week: - Oil prices have been on the rise, with Brent crude futures settling at $79.21 a barrel, a 0.79% increase. U.S. West Texas Intermediate crude also climbed to $73.86, marking a 0.75% rise. This upward trend has been driven by a larger-than-expected fall in U.S. fuel stocks and ongoing geopolitical tensions in the Middle East. - U.S. gasoline stocks saw a significant decrease, falling by 3.15 million barrels, contrasting with analysts' expectations of an increase. However, crude stocks experienced an unexpected build of 5.5 million barrels due to increased production and maintenance activities by U.S. refiners. 💡 Industry Highlights: - The U.S. Energy Information Administration (EIA) has reduced its 2024 outlook for domestic oil output growth, predicting that it won't reach December 2023's record levels until February 2025. This revision indicates a more cautious approach to production in light of recent market dynamics. - The Middle East continues to be a focal point for market watchers, with Israeli Prime Minister Benjamin Netanyahu's latest statements on Gaza and the ongoing attacks by Iranian-backed Houthi rebels on shipping in the Red Sea. These geopolitical events are influencing market sentiments and could impact global trade routes. 🚀 Forward-Looking Perspective: - The ongoing geopolitical tensions, coupled with changing production forecasts, are likely to introduce volatility in the oil and gas markets. - We are closely monitoring these developments to ensure our clients receive the most relevant and strategic market insights. 🔗 Contact us for detailed analysis and tailored advice. 📩 Email: info@crownbusinessholdings.com 🌐 Website: https://lnkd.in/g773r3Fq 💬 We welcome your views and queries in the comments section. 👍 Follow us for regular, data-driven updates on the Oil & Gas industry. #CrownBusinessSolutions #OilAndGas #EnergyMarket #WeeklyUpdate #MarketInsights #CrudeOil #NaturalGas #GeopoliticalTensions #MiddleEast #USOilProduction #GlobalTrade #MarketVolatility #StrategicAnalysis #EnergyTrends #oilandgas #oilandgasindustry #commodities #commodity #commoditytrade #trading #naturalresources #news #trending #trendingnews

Oil News: FAS proposes to intensify work on the development of small wholesale fuel trade. This was announced by Elena Tsyshevskaya, Head of the Department for Regulation of Fuel and Energy Complex and Chemical Industry, at the forum "Exchange Commodity Market". Small wholesale trade is an important link in the provision of petroleum products to the population and business. The mechanism may be especially in demand for consumers in the Far North and Far East. Oil companies will switch to the digital platform "Commodity Supply Operator" within a year. This was announced by Vitaly Korolev, Deputy Head of the Federal Antimonopoly Service of Russia, at the forum "Commodity Exchange Market". This transition will allow to solve most of the fuel transportation issues. At the same time, the situation on the fuel market is under constant control of the service. The March volume of idle capacity at Russian refineries exceeded 3.7 times the level of planned idle primary capacity in the original annual repair plan and reached 4.079 million tons, which is 1.151 million tons (+39.3%) higher than the previous estimate for the current month, calculated at the end of February, Reuters calculations based on data from sources in the industry showed. In April, the retired primary refining capacity may increase by 12,500 tons per day (+9.5%) compared to March and amount to 4.323 million tons. The total primary refining downtime at Russian refineries in January-April 2024 is expected to be 12.941 million tons, which is twice as much as last year's figure. The sharp increase in outage capacity in March was caused by a series of emergency shutdowns of primary units at Russian refineries as a result of drone attacks. The Russian Ministry of Energy has proposed to oblige state-owned companies to first of all buy raw materials on stock exchanges, if possible. FAS supports this idea. The SPIMEX indicator for oil prices, which will be used, among other things, to calculate oil taxes, may start working on January 1, 2025, said I. Artemyev, President of the trading floor. The output of petroleum products in Russia in February 2024 decreased by 0.7% compared to the same month in 2023. The reduction in production in January - February amounted to 2.4% year-on-year.

Change with the times/tides and you'll always catch the good wind... This is how African energy trading companies need to see the business.. Constantly changing and mitigating the risks involved

💡Several Northeast Asian refiners are preparing to ramp up runs post maintenance, but a bearish margin outlook may force some to moderate runs. Vortexa's Head of APAC Analysis Serena Huang looks at implied refinery runs, onshore inventories and transportation fuel exports in the latest insight "Northeast Asia’s refineries face uncertainties with ramp ups post turnaround" Read more: https://bit.ly/3V1dAog #Vortexa #VortexaInsights #oilandgas #energymarkets

Changes to supply, demand, price, and margins are affecting refinery and petrochemical operators and will have major implications on trade. To be successful #logistics companies need to strategically adapt and have insight on market dynamics and trade flows. Find out more about our data and research can help you stay ahead in the competitive landscape: https://okt.to/CxaT3f

Changes to supply, demand, price, and margins are affecting refinery and petrochemical operators and will have major implications on trade. To be successful #logistics companies need to strategically adapt and have insight on market dynamics and trade flows. Find out more about our data and research can help you stay ahead in the competitive landscape: https://okt.to/MXH6Ai

Changes to supply, demand, price, and margins are affecting refinery and petrochemical operators and will have major implications on trade. To be successful #logistics companies need to strategically adapt and have insight on market dynamics and trade flows. Find out more about our data and research can help you stay ahead in the competitive landscape: https://okt.to/kylfBM

Quality, pricing methodology, regulation… Gasoline traders and blenders are facing some challenging developments in NWE, adding some volatility layers to the upcoming year. An interesting article focused on the blending terminals.

𝐌𝐚𝐢𝐧𝐭𝐞𝐧𝐚𝐧𝐜𝐞, 𝐰𝐢𝐧𝐭𝐞𝐫 𝐝𝐞𝐦𝐚𝐧𝐝 𝐚𝐧𝐝 𝐫𝐮𝐧𝐜𝐮𝐭𝐬 𝐦𝐚𝐲 𝐥𝐞𝐧𝐝 𝐬𝐨𝐦𝐞 𝐬𝐡𝐨𝐫𝐭-𝐭𝐞𝐫𝐦 𝐬𝐭𝐫𝐞𝐧𝐠𝐭𝐡 𝐭𝐨 𝐠𝐥𝐨𝐛𝐚𝐥 𝐝𝐢𝐬𝐭𝐢𝐥𝐥𝐚𝐭𝐞. 𝐑𝐞𝐟𝐢𝐧𝐞𝐫𝐲 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞 𝐥𝐢𝐤𝐞𝐥𝐲 𝐭𝐨 𝐨𝐯𝐞𝐫𝐜𝐨𝐦𝐞 𝐭𝐡𝐞𝐬𝐞 𝐢𝐧 𝐐4 In our latest distillate market commentary, by James Noel-Beswick: > US and Middle Eastern diesel arbs continue to point to Europe > Global diesel spreads, but not cracks, find somewhat of a floor since the last weeks of August whilst Singapore regrade remains at its seasonally widest > Will the ongoing weakness in the crude market save refinery margins? > Distillate to mildly recover in the coming weeks but any gains to be limited Read full commentary: https://lnkd.in/emRHXhKx #oott #oilandgas #commoditytrading #fintech #trading #distillate #insight #data

From Reuters, with comments from James Noel-Beswick, Commodity Owner at Sparta: > Diesel Refining Cracks Decline: Northwest European diesel barge refining cracks fell by 3.7% to $17.14 per barrel due to an increase in regional stocks > Inventory Increase in ARA Hub: Stocks of refined oil products in the Amsterdam-Rotterdam-Antwerp (ARA) storage hub rose by 4% this week, driven mainly by a build in gasoil > Gasoline Stocks and Exports: Gasoline stocks in the ARA region decreased by over 1% due to stronger transatlantic exports, despite weaker inland demand > Stable Gasoil Market Outlook: The ICE Gasoil spread and crack have stabilised, and this trend is expected to continue as European refineries begin their turnaround season and demand increases towards the end of Q3. Read the full article: https://lnkd.in/edD6EYYw #oott #oilandgas #commoditytrading #trading #sparta #reuters