Oil Markets

As crude prices have recently inched up past the $90/b level, they are on pace to end the third quarter nearly 35% higher than they started, fundamentally altering the landscape for both upstream and downstream players. Drillers and producers are ramping up output as they look to capitalize on high prices, while refiners are more cautious as they expect tight supply, low inventory and rising demand through year-end. S&P Global Commodity Insights' oil futures editor Chris van Moessner chats with upstream editor Starr Spencer and senior refinery writer Janet McGurty about the industry is adapting to the new price environment and how that could impact Q3 results. Join us on our new comprehensive platform, Platts Connect

The OPEC+ production cuts continue to impact both crude oil and refined products. Dated Brent has reached a 10-month high. Prices in the diesel market are also rising amid supply constraints. Meanwhile, the latest report from the IEA has warned investors of strong demand in Q4. In this episode of the Platts Oil Markets podcast, London-based oil news reporter Robert Perkins and oil price reporters Sam Angell and Sasha Foss join Francesco Di Salvo to discuss the current bullish sentiment supporting prices as market participants react to the latest developments in the oil markets. Price assessments discussed: PCAAS00 - Dated Brent AJSVB00 - Johan Sverdrup FOB North Sea vs North Sea Dtd Strip AAVBG00 - ULSD 10ppmS CIF NWE Cargo

At the Asia-Pacific Petroleum Conference, the focus was on energy transition, carbon intensity, biofuels, and water intensity in commodity production. The complex nature of the oil market, extreme weather events, and value vs. volume were discussed. Concerns over the diesel market, high distillate cracks, and the impact of the price cap on Russian oil revenues were explored. Transparency in the price cap mechanism and the existence of an alternative market were highlighted. New assessments for diesel in Brazil and an upcoming event in Singapore were also mentioned.

The European bionaphtha market is starting to gain traction as the number of available feedstocks increases and demand for cleaner alternatives grows. Limited supply capacity has kept prices high, but production is set to increase amid a boom in biorefinery construction in the region. As a result, more trading opportunities will become available, along with the potential for a liberalized and transparently priced market. In this episode of the Platts Oil Markets podcast, London-based oil price reporters Vinicius Maffei, Simone Burgin and Aly Blakeway join Francesco Di Salvo to discuss the development of bionaphtha, as well as SAF and biopropane markets, as Europe leads the way in alternative fuels. PAADU00 - Bio-Naphtha FOB NWE Premium $/mt ABPRB00 - Bio-Propane FCA NWE Premium $/mt AJNWF00 - Sustainable Aviation Fuel CIF ARA Premium $/mt

Americas refined products markets are adjusting to altered trade flows more than a year after Russia's invasion of Ukraine. Refined products that were once supplied to Brazil from the US Gulf Coast have now been replaced by Russian barrels, while other markets in Latin America are still being wary of touching Russian product out of fear of repercussions from the US. Oversupply has caused naphtha in particular to deal with volatility and low export demand. S&P Global Commodity Insights' Maria Jimenez Moya, Latin America refined products price reporter, sits down with Sarah Hernandez, managing editor for Americas light ends pricing, to discuss the changes arising in North and Latin American markets of naphtha and refined products as a result of Russian inflows. Related prices: NEW: AULDA00 - ULSD DAP South Brazil (All-Origin) $/bbl AGSUA00 - Gasoline CFR Suape Cargo Differential USC/Gal

Asia's oil demand revival, China's role in aiding recovery, concerns about legal and regulatory risks, region's affinity for new energy, strategies of Asian energy companies, impact of Russian oil flows to China and India, role of oil in changing energy landscape, energy security versus sustainability debate in Asia

For many years, Russia was Europe's main supplier of key refined oil products until Western sanctions were imposed in February 2023. Six months into the embargo on Russian refined products, markets across the continent continue to adjust. Prices appear to be rising and shipping times have lengthened as European buyers find products further afield in India, the Middle East and the US Gulf Coast. In the second of a special two-part Platts Oil Markets podcast retrospective, OPEC+ Oil News reporter Rosemary Griffin and Refined Oil Products Managers Gary Clark and Kieran Hess join Francesco Di Salvo to discuss how European oil markets have adapted to a "new normal" following one of the most consequential events in the geopolitics of oil in decades. Click here to listen to part 1 of this special retrospective. Related price assessments: AAVBG00 – ULSD 10ppm CIF NWE Cargo PAAAL00 – Naphtha CIF NWE Cargo PMAAS00 – Propane FOB ARA S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date! Stay on top of our coverage of APPEC 2023 on our website. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

Trade disruptions. Refinery adjustments. New arbitrage flows. These are some of the consequences Europe faced as the continent had to wean itself off Russian crude following the embargo, which came into effect in December 2022. Russia has since managed to find new customers in Asia, but military attacks on oil infrastructure in the Black Sea could jeopardize such a strategy. In the first of a special two-part Platts Oil Markets podcast retrospective, OPEC+ Oil News reporter Rosemary Griffin and Crude Oil Managers Emma Kettley and John Morley join Joel Hanley to discuss how European oil markets have adapted to a "new normal" following one of the most consequential events in the geopolitics of oil in decades. KBCOB00 – KEBCO CIF Med vs Med Dtd Strip KBCOD00 – KEBCO CIF R'dam vs Med Dtd Stri AURLA00 – Urals DAP India vs Dubai DWCUB00 – Urals DAP India vs Forward Dated Brent S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date! Stay on top of our coverage of APPEC 2023 on our website. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

The small South American country of Guyana has experienced a quick transformation within the past decade, going from zero oil production in 2019 to nearly 400,000 b/d in 2023 and that is expected to reach around 600,000 by the end of 2024. That will position Guyana as one of the world's top oil producing countries in the world and a rare exception in the market where exploration and production is expanding. S&P Global Commodity Insights' oil pricing and news experts Laura Huchzermeyer, Patrick Harrington, and Starr Spencer discuss investment and pricing trends in Guyana, as well as new price assessments for Guyana's Unity Gold. Prices in this episode: Liza FOB Guyana ALIZA00> Unity Gold FOB Guyana AUNIA00> We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

Refiners in Asia are crafting out expansion strategies and pumping billions of dollars to diversify their portfolio and adapt to the changing energy landscape. Renewables, hydrogen and solar energy are starting to figure in their ambitions. But a key area of focus for refiners is to raise their petrochemicals intensity to ensure business models remain profitable in the event electric vehicles and other cleaner forms of energy take a toll on demand for transport fuels. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Maria Tsay, Global Head of Petrochemicals Pricing, Zhuwei Wang, Asian Oil Analytics Manager, and Pulkit Agarwal, India Content Head -- share their insights on whether going further downstream would be the only option for refiners to remain profitable and over the longer term. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: SPGCI Podcast Survey More listening options: