Oil Markets

This year, the US, alongside G7 countries, placed a price cap on Russian-grade refined product at $100/b. This marked another set of sanctions designed to shrink Russia's influence on global oil markets. Following the Feb. 5 price cap, disruptions have been seen in both the clean tanker market and the Americas diesel market. In this Oil Markets episode, S&P Global Commodity Insights' shipping, diesel, and Latin America refined products experts Eugenia Romero, Jordan Daniel and Maria Jimenez Moya sit down to discuss the current landscape and recent changes to these trade flows. Related prices: Clean USGC-Brazil 38kt (TCAFQ00) ULSD USGC prompt pipeline (AATGY00) ULSD USGC export (AAXRV00)

As of May 2, 2023, Platts incorporated US WTI Midland crude oil into Platts Dated Brent and related benchmark assessments. This is the first-ever inclusion of a non-North Sea grade and is expected to boost the liquidity of the world's most important physical crude oil leading benchmark assessment. In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights crude oil managers John Morley and Emma Kettley discuss with Joel Hanley the scope of the change and the implications of this momentous development. Learn more: Methodology and Specifications Guide, Europe and Africa Crude Oil FAQ: Platts WTI Midland's inclusion into the Brent complex Infographic: Brent benchmark gets major boost from US crude Contact us: platts_oil_feedback@spglobal.com

One of the largest crude importers globally, China had seen demand plummet amid the pandemic, although it has been showing signs of recovery – with better-than-expected economic growth and record-high production in Q1 2023. S&P Global Commodity Insights Asia Oil Editor Neo Rong Wei discussed with Analyst Oceana Zhou and Asia Oil News Managing Editor Philip Vahn the outlook for oil in the region. On this episode of the Oil Markets podcast, we dive into what China's economic recovery means for the markets, and how Asia's outlook on oil may change amid a regional economic downturn. Related Platts price assessments: AAYEE00 - FOB Singapore 92 RON Gasoline crack spread vs M2 Dubai Swap AAHCF00 - FOB Singapore gasoil crack spread vs Dubai swap AAHCM00 - FOB Singapore Jet fuel/Kerosens crack spread vs M2 Dubai Swap

Italy's Eni has been one of the most successful drillers in Mexico. One of many E&P companies active in Mexico's upstream auctions following the country's 2013-2014 liberalization, Eni was the first independent to produce in Mexican waters in 2019. Most recently, Eni announced a 200 million boe discovery at the Yatzil well in the Salina sub-basin, and has just been given approval to drill another offshore exploration well. Jeff Mower, director of Americas oil news, and Sheky Espejo, Mexico energy correspondent, discuss what Eni's success means for Mexico's struggling oil output. Register for the Middle East Petroleum & Gas conference here

The debate over the use of alternative currencies in global oil trade has intensified over the past one year following the Russia-Ukraine conflict, which has not only dramatically reshaped oil flows but also altered energy relations between producers and consumers. But there are questions as to how quickly the global trading community can embrace alternative currencies while balancing the risks associated with moving away from the US dollar. In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, renowned commodities investor and chairman of Beeland Interests Inc. Jim Rogers, and two senior leaders at S&P Global Commodity Insights - Dave Ernsberger, Global Head of Market Reporting and Trading Solutions, and Chief Energy Strategist Atul Arya - share their views on the challenges and opportunities ahead as debate on the subject intensifies.

Increased volatility, rising prices and strained geopolitical relations. These are some of the side-effects of the latest OPEC+ production cut. Meanwhile, Platts Market on Close crude assessments fully reflect traders' sharp reaction to the surprise move amid uncertainty in various oil grades. In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Rosemary Griffin, Sam Angell and Luke Stuart join Joel Hanley to discuss the immediate impact of the OPEC+ announcement, the decision by Russian sellers to change the way they price barrels, and potential threats to an already fragile global oil supply. Join us at MPGC 2023! The 30th Annual Middle East Petroleum & Gas conference (MPGC) will be brought to you by S&P Global Commodity Insights, along with the host, Emirates National Oil Company (ENOC) on 22-23 May 2023 in Dubai, UAE. Registrations are open! Related Platts price assessments: PCAAS00 - Dated Brent PCAAT00 - Dubai Mo01 (NextGen MOC) Urals FOB Primorsk Urals FOB Novo Afra AAGZS00 - Urals FOB Novo SuezDWCUA00 - Urals DAP West Coast India AAEJD00 - Kirkuk FOB Ceyhan

US fuel oil stocks in the first quarter of 2023 reached their highest levels since April 2020. Traders have had to alleviate their oversupply by exporting, though high freight rates have made profits more difficult to find. In this Oil Markets episode, Americas fuel oil experts Beth Brown and Patrick Burns sit down with Americas shipping experts Catherine Rogers and Catherine Kellogg to discuss how traders have had to shift routes and export heavier material to find an open arbitrage. Prices in this episode: PUAFZ00 (USGC HSFO) TDUCG00 (Dirty USG-UKC Aframax)

In this episode of the Platts Oil Markets podcast, Francesco Di Salvo is joined by Gary Clark, Patrick McAllister and Matthew Tracey-Cook to explore the theme of evolving standards and specifications for transport fuels in the continent reflecting on the main takeaways of ARDA Week 2023. Price assessments discussed in this episode: FOB ARA 0.1% gasoil barges: #AAYWT00 FOB AR 10ppm premium gasoline barges: #PGABM00

Energy stakeholders from around the world gathered in Houston this week for CERAWeek by S&P Global to talk about the biggest issues and current trends in the energy industry. On the oil front, speakers and panelists highlighted permitting timelines amid record-high export crude demand, while a shift in hedging practices was seen in light of recent volatility in crude prices. In this Oil Markets podcast, Jeff Mower sits down with Dave Ernsberger and Binish Azhar to discuss these topics and others coming out of the conference. Register here for the World Petrochemical Conference, March 20-24

The year 2023 did not start as expected: China suddenly dropped all COVID restrictions, boosting sentiment in the global jet market, while diesel prices fell despite the ban on Russian oil product imports into the EU from 5 February. As a result, European jet fuel cracks jumped above diesel, but the spread narrowed by the end of February and the two products are now neck and neck, raising the question of which one will be maximised by refiners, thus tightening the supply of the other in the coming months. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights experts Maxim Kotenev and Gary Clark join Francesco Di Salvo to discuss the outlook for the jet fuel market, its potential impact on other middle distillates and whether a recession is likely to prevent aviation from fully recovering from the pandemic. Related price symbols: Diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00 Jet fuel: CIF NWE jet fuel cargoes #PJAAU00