Economics

China blunted Iran war oil shock, but can it do the same for fuels?

China's dramatic slashing of its crude oil imports has been credited with keeping prices from spiking during the Iran conflict.

Less than a month's supply: Europe's jet fuel stocks are wafer thin as Iran tensions flare

Britain, France and Germany are particularly vulnerable in a continent where decades of refinery closures left it more reliant than most on Middle Eastern shipments via the Strait of Hormuz.

Rising oil prices drive Indonesians to embrace biodiesel

Motorists in Indonesia are modifying their cars to run on subsidised biodiesel amid high global oil prices, as Jakarta raises the fuel's palm oil content in an effort to reduce the country's reliance on energy imports.

Indian BPCL and Japan's Taiyo Oil buy U.S. crude via tenders

Asian refiners had reduced purchases of U.S. crude following the U.S.-Iran ceasefire agreement.

Kyrgyzstan expects fuel from China, Belarus to offset Russian supply crunch

ACME signs 100,000-tpy green methanol offtake agreement with Mitsubishi Gas Chemical

ADNOC launches global LNG marketing and trading platform

South Korea's four oil refiners charged with price collusion

Though prosecutors did not name the companies, South Korea only has four refiners: HD Hyundai Oilbank, SK Energy, GS Caltex and S-Oil.

World absorbs historic Iran war oil supply loss, but depleted stocks bring risks

Tehran's throttling of the Strait of Hormuz in response to the U.S. and Israeli attacks launched on February 28 fed fears of a catastrophic global energy crunch.

Brazil to phase out subsidy for diesel more slowly than for gasoline, minister says

Brazil's government will take longer to phase out its diesel subsidy than the gasoline benefit, reflecting concerns the process must be handled carefully, even after the drop in global oil prices, to avoid price shocks or fuel shortages.