MRPL buys 1 million barrels from Oman at a $3 premium to Dated Brent as Middle East term supplies face disruptions. Indian refiners are turning to West African and Omani crude due to shipping constraints in the Strait of Hormuz and Bab el-Mandeb. State-owned MRPL purchased
Quick Read - Marathon Petroleum (MPC) posted $17.73 EPS against a $13.95 estimate as its refining margin nearly doubled to $36 per barrel. - Valero (VLO) warns margins could drop 28% by 2027, but structural limits keep today's crack spreads historically wide. No new U.S. r
A revived pipeline could redirect Kirkuk crude exports to the Mediterranean, reducing reliance on the Strait of Hormuz amid regional tensions. Iraq and Syria aim to restore a defunct oil pipeline linking Kirkuk fields to Syria’s Mediterranean coast within three years. The
Houthi attack on a Saudi oil tanker near Yanbu raises concerns over Red Sea shipping risks amid ongoing Strait of Hormuz tensions. Oil prices rose after Yemen’s Houthi movement claimed a missile strike on a Saudi oil tanker near the Red Sea port of Yanbu. The attack unders
The Iran-aligned Houthi group in Yemen on Wednesday claimed a “precise hit” on a Saudi oil tanker in the Red Sea, Houthi military spokesperson Yahya Saree said. “The Yemeni Armed Forces conducted a military operation targeting the Saudi oil tanker 'Wafaa' north of the Red Sea...<
US distiller Next Century Spirits has acquired a selection of brands from local peer Grain & Barrel Spirits, including the American whiskey label Chicken Cock. Financial terms of the deal were not disclosed In a statement yesterday (4 August), the North Carolina-bas
Oil prices fell after reports of a 60-day agreement to reopen the Strait of Hormuz, easing supply concerns amid geopolitical tensions. Brent crude futures declined to $79 per barrel as markets reacted to reports of a temporary deal between the US, Iran, and Oman to reopen
Commodity producing and trading giant Glencore booked a $4.4-billion net income for the first half of the year, a jump of $5 billion from a loss a year earlier, as the oil and copper price rallies and volatility boosted revenues and trading profits. Glencore on Wednesday r
Oil prices rebound after a 5% drop, supported by short-covering and easing geopolitical tensions. West Texas Intermediate crude rose 1.56% to $75.50 on Wednesday, recovering from a more than 5% decline in the prior session. The gain followed a technical rebound as traders
Oil prices rebound from a 5% drop as traders buy the dip, but diplomatic progress between the US and Iran limits upside. West Texas Intermediate crude climbed 1.56% to $75.50 on Wednesday, recovering from a more than 5% decline in the prior session. The move reflects a tec
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