06 Jan 2025
The upward momentum was fuelled by forecasts of lower temperatures in key markets, which amplified demand for heating oil, offering short-term price support. Additionally, geopolitical concerns over tightening sanctions prompted buyers to realign supply chains
06 Jan 2025
03 Jan 2025
03 Jan 2025
Crude oil inventories now stand at 415.6 million barrels, approximately 5% below the five-year average for this time of year. Meanwhile, refinery utilization edged higher, with operating rates reaching 92.7%, up from 92.5% the previous week.
03 Jan 2025
02 Jan 2025
The decision was in response to mounting criticism, specifically regarding the impact a 1% VAT hike has on consumption and manufacturing activity, both already languishing beneath high inflationary pressures. Critics also highlighted concerns about the impact of increased taxation
02 Jan 2025
The traditional seasonal surge in demand ahead of the Lunar New Year (LNY) is being amplified by an unusually high volume of shipments directed toward the United States for this period. Shippers are expediting imports in anticipation of potential tariff increases
