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Refining Margins

All articles tagged with #refining margins

energy4 hours ago•21 min saved

Jet Fuel Cracks Leap to Fresh Highs as Hormuz Turbulence Tightens Markets

Jet fuel cracks to record highs as Iran-related conflict disrupts Strait of Hormuz, tightening supply for Asia and Europe. Singapore jet fuel jumped about 140% to around $230 per barrel, while Europe’s jet premium to crude widened, with cracking margins surging to new records. The stress in jet fuel outpaced crude due to storage constraints and refinery constraints, with roughly 20% of global jet exports passing through Hormuz. If disruptions persist, airlines and consumers could face sustained higher costs and refining runs may stay restrained even if tensions ease.

via Crude Oil Prices Today | OilPrice.com|

#energy #jet-fuel #middle-east-crisis

business2 years ago•1 min saved

Shell Reports $6.2 Billion Q3 Profit and $3.5 Billion Share Buyback

Shell reported a third-quarter profit of $6.2 billion, benefiting from higher oil prices and refining margins. The profit was in line with estimates but marked a decline from the previous year. The company also announced a $3.5 billion share buyback. Shell's CEO stated that the company delivered strong operational and financial performance, capturing opportunities in volatile commodity markets. Free cash flow fell, while cash capital expenditure rose. Energy majors, including BP and TotalEnergies, have been impacted by soaring fossil fuel prices.

via CNBC|

#business #oil-prices #profit

business2 years ago•3 min saved

BP's Profit Plummets 70% but Dividend Gets a Boost

BP's second-quarter profit dropped 70% to $2.6 billion, missing forecasts, due to weak refining margins and oil trading income. However, the energy giant still increased its dividend by 10% and plans to repurchase $1.5 billion of its shares. BP's weaker results were attributed to declining refining margins, higher maintenance activity, and weaker trading results. The company's net cash flow was negative, and its debt-to-capital ratio increased. BP expects oil prices to be supported in the third quarter, but the European gas and Asian LNG markets may be at risk. The company aims to expand its renewables and low-carbon business while reducing oil output by 25% by 2030.

via Reuters|

#bp #business #dividend

energy2 years ago•3 min saved

Oil Prices React to Mixed Economic Data and Investment News

U.S. gasoline and diesel inventories are below the five-year average, indicating strong fuel demand and supporting crude oil prices and U.S. refining margins. Despite optimistic views on summer fuel demand, oil prices have fallen due to concerns about the economy and high interest rates. However, the International Energy Agency predicts a tightening market in the second half of the year, with demand expected to exceed supply by almost 2 mb/d. Refining margins have fallen since Q4 2022 but remain higher than historical norms, and U.S. refiners are optimistic about cracks going forward.

via OilPrice.com|

#diesel #energy #fuel-demand