Refining
US refiners tighten belts as golden era fades
US independent oil refiners are shelving projects and tightening budgets as a global glut of diesel and gasoline erodes their profit, ending a golden era of high refining margins.
US fuel inventories tumble as refiners cut rates
Gasoline and distillate inventories also dropped more than expected, as refining rates fell, new data from the Energy Information Administration (EIA) showed.
ExxonMobil reports death of contractor in work at Beaumont refinery
The AltairStrickland worker was struck in the head and neck area by piping that was being removed from a heat exchanger, a local sheriff's office spokesperson said.
Oil rally stalls as refining fundamentals weaken
Refining margins have also started to soften, which could be a bad sign for oil demand if they encourage refiners to cut crude processing, according to the analyst.
India, Iran reach payment deal allowing refiners to buy Iranian crude
Indian refiners have been holding 55% of the oil payments to Iran after a prior route was halted in 2013. Iran was India's second-largest oil supplier before the recent sanctions.
Brazil exports diesel to Europe as patterns reverse
At least two 37,000-ton cargoes of diesel, on the tankers Torm Gunhild and MT Alexandros, have sailed in recent weeks from Brazil to Europe, according to Reuters ship tracking data and traders.
Saudis raise crude oil pricing for Asian refiners by most in over a year
Refiners may choose to not take full contracted volumes, instead seeking alternative crudes on the spot market or access the large amount of crude stored around the region.
Growing gasoline, diesel glut sparks sharp sell-off in global oil markets
The sell-off came amid warnings that supplies could outpace global demand even during the peak summer driving season that traditionally kicks in at the end of May.
Canadian wildfire could limit oil supply to refiners
The United States imports about 3.5 MMbpd of Canadian crude, which is particularly important for US refiners from Ohio to the Dakotas.
Brazil’s fuel consumption falls as economy shrinks
Brazil became one of the largest and fastest-growing oil consumers in the world, and the country's rapid growth was itself a source of upward pressure on oil prices. But consumption growth began to slow significantly from the middle of 2014 as the price of oil tumbled.
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