Oil Markets

With the European Union ban on Russian seaborne crude imports and the price cap of $60 a barrel taking effect, the spotlight is now on China and India as the market tries to assess to what extent top Asian buyers can absorb the additional displaced barrels from Europe. In this podcast, Sambit Mohanty, Asia Energy Editor, discusses with Calvin Lee, Asia head of content, Alice Niu, China head of content and Pulkit Agarwal, India head of content, the implications of the $60/b price cap for Asian buyers, the impact of the decision of OPEC and its allies to keep their policy unchanged, and China's oil consumption outlook amid easing of pandemic-related restrictions. Related infographic: G7 price cap hangs over Russian oil flows Subscribe to Platts Dimensions Pro for access to assessments and premium content covering crude oil. Click here to listen to the Capitol Crude podcast series.

The development of Mexico's upstream oil sector has slowed since President Lopez Obrador was elected in 2018, as Lopez Obrador halted the upstream auctions put in place by the liberalization process that started in 2013. However, several companies were able to get their foot in the door, and as a result production from the private sector is expected to edge higher in coming years. Sheky Espejo, S&P Global Commodity Insights' Mexico energy correspondent, joins Jeff Mower, director of Americas oil news, to discuss this trend. Related assessments: AAYMP00 – Maya market parity price AAXWA00 – CIF Eastern Mexico gasoline

With longer-haul voyages and the 'dark fleet' growing, tight freight availability is pushing shipping rates to fresh highs. What does strong shipping market mean for the crude competing to replace Russian flows?S&P Global Commodity Insights reporters George Papageorgiou, Sam Angell, and George Delaney discuss with Joel Hanley the spike in rates and the effect on oil from the Mediterranean and Africa. Related stories: Soaring tanker freight depresses FOB differentials for Med, West African crudes FEATURE: Growing maritime risks as shadow tanker fleet expands to cover Russian trades Related price assessments: AAGXN00 - Qua Iboe FOB Nigeria vs WAF Dtd Strip AAGXJ00 - Urals Rotterdam vs Med Dtd Strip TDACS00 - West Africa-UKC 260kt $/mt TDACR00 - West Africa-UKC 130kt $/mt TDABL00 - Ceyhan-Med 80kt $/mt

The tug-of-war between Asia and Europe for sourcing oil is set to intensify as the European Union's ban on Russian seaborne crude inches closer. From Middle East to Africa, suppliers are already feeling the pressure of how to split supplies between different regions. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, S&P Global Commodity Insights' experts--Andy Critchlow, Head of News for Europe, Middle East and Africa, Paul Sheldon, Chief Geopolitical Advisor, and Kang Wu, Head of Global Oil Demand and Asia Analytics--share their insights on some of the biggest challenges the market may face after sanctions are imposed, the strategy of OPEC+ and the hurdles in making the G7 price cap work. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering crude oil. Related content: Energy Security Sentinel

In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Robert Perkins, Virginie Malicier and David Lewis discuss with John Morley what has already changed in the oil markets since February 24 and the expected impact of upcoming sanctions, from the ban on exports of Russian crude oil to Europe and the US for any loading after December 5, to the ban on exports of oil products into Europe from Feb. 5 and the shipping insurance ban from December as well. Related price assessments: Non-Russian diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00 Diesel including Russian origin: CIF ARA 10ppm ULSD "all origins" cargoes #ALORA00 Dated Brent: #PCAAS00 Russian crude oil: Urals CIF NWE #AAGXJ00 New assessment of Kazakh origin Urals (started on Nov. 1): CIF Med KEBCO #KBCOA00

The US Gulf Coast crude market is exporting record volumes while also seeing sky-high freight rates. This dynamic has been playing out consistently for the past few months, but how are these exports continuing to move in such great volumes despite this major headwind? In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights crude and shipping experts Laura Huchzermeyer, Kristian Tialios and Catherine Kellogg discuss the factors that are contributing to these high freight rates and how they are impacting US Gulf Coast exports. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts AGS (AGSAA00), 130kt Suezmax Brazil-UK Continent (ABRKB00), 270kt USGC-China (TDUCB00) and much more.

What role will oil play in mitigating Europe's natural gas problem this winter? With energy costs skyrocketing since the start of the Russian-Ukraine war, industries and households across the continent have been looking across the barrel for practical alternatives to natural gas. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights associate editors Aly Blakeway and Patrick McAllister explore with Francesco Di Salvo to what degree LPG and gasoil may be utilized in the short-term to replace natural gas. LPG: CIF ARA large propane cargoes PMABA00 LPG barges: FOB ARA propane barges PMAAS00 0.1% gasoil: FOB 0.1% gasoil barges AAYWT00 ULSD: FOB ARA 10ppm diesel barges AAJUS00

Oil product market sentiment in Asia has been volatile due to the larger-than-expected Q4 exports from China. The uncertainty saw the region's best-performing product crack for the year -- ULSD -- falling by a record 30% in just two trading sessions in the first half of September. As trading sentiment slowly recovers, the Asian oil market has to adjust to the expected increase in oil products from China over the next few months amid gloomy macroeconomic scenario. In a discussion, S&P Global Commodity Insights' experts Jonathan Nonis, Oceana Zhou, Su Yeen Cheong, and Zhuwei Wang talk about the impact of China's Q4 oil products export this late in the year and what it means going forward. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.

The gasoline and diesel markets in Northwest Europe have tightened as France seeks alternative sources of supply due to strike at five of the country's six refineries. Though negotiations are ongoing at ExxonMobil and TotalEnergies, and strike action might stop soon, supply disruptions are expected to continue at least for a few weeks. In this bonus episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights senior editors Virginie Malicier and Elza Turner discuss with Francesco Di Salvo why these social movements had such an impact on road fuel prices. This week's episode: It's been a perfect storm for Midwest gasoline supply Related price symbols: PCAAS00 - Dated Brent AAJUS00 - ULSD 10ppmS FOB ARA Barge ABXGT00 - ULSD 10ppm CIF NWE basis Le Havre Cargo Eur cents/liter AARIN00 - ICE LS Gasoil at London MOC Mo01 (NextGen MOC) AARIO00 - ICE LS Gasoil at London MOC Mo02 (NextGen MOC)

Though summer driving season is already in the rearview mirror, gasoline differentials in the US Midwest and West Coast apparently haven't gotten the memo. A flurry of planned and unplanned refinery outages in both regions have pressured already-tight supply dynamics as the rest of the world scrambles to secure gasoline supply. S&P Global Commodity Insights gasoline reporter Anna Trier speaks with Debnil Chowdhury, Americas Head of Refining and Marketing at SPGCI, about how refinery issues catapulted Chicago gasoline differentials to all-time highs and what relief, if any, is on the horizon for Midwest production.