Category: Fuel

America is facing a dramatic diesel shortage that could get even worse

Good morning markets individuals, I’m senior reporter Phil Rosen. If you are like me, breakfast this morning consists of the Halloween sweet you “forgot” to go away out for trick-or-treaters final evening. (Don’t fear, I will not inform anybody.) Or possibly, you loaded up forward of time so that you could meet the push and have leftovers. Econ 101, actually — when demand overruns provide,…

Oil prices could trade above $120 next year – but extremely low diesel inventories pose an even bigger concern, top...

An oil pump jack pumps oil in a subject close to Calgary, Alberta in Canada. Todd Korol/Reuters Oil prices could soar greater into 2023, but the diesel disaster nonetheless poses the better menace, Energy Aspects’ Amrita Sen stated.  Both oil and diesel stockpiles are hovering close to document lows. The EIA warned earlier this month that the US had only some weeks of reserve diesel…

Tankers filled with dirty Russian oil are piling up around Asian ports ahead of fresh EU sanctions

Getty Images Tankers carrying Russian oil have settled at ports near Malaysia and Singapore ahead of the next round of EU sanctions.  Roughly 1.1 million tons of high-sulfur fuel oil was sitting on vessels for the week ending October 24. New European Union sanctions will ban insurance on tankers holding Russian oil starting December 5.  Tankers carrying Russian oil have settled at ports near Malaysia…

Saudi Aramco says its energy transition is not delivering and launches a $1.5 billion fund for a more ‘realistic’ plan

Getty Images Saudi Arabia’s state-run oil giant is investing $1.5 billion in a new energy transition plan.  Saudi Aramco’s CEO Amin Nasser said the current framework is “flawed.” The Kingdom has cautioned that the transition could take decades.  Saudi Arabia’s state-run oil giant is investing $1.5 billion in a global energy transition, while cautioning that alternative sources aren’t yet capable of handling demand.  Saudi Aramco…