Diesel Refining Margins Tumble 7% as Russian Output Recovers
Diesel crack spreads declined sharply on Tuesday, pressured by a significant rebound in Russian refinery processing and France's plan to release strategic diesel reserves.
Latest by Elena Volkova
Oil Prices Rebound as Houthi Attack on Saudi Refinery Revives Supply Concerns
Crude benchmarks rose after two days of losses following a claimed Houthi missile strike on a major Saudi Arabian refinery, overshadowing diplomatic efforts to ease regional tensions.
South African Corn Planting Intentions Fall to Lowest Level Since 2019
South African farmers plan a significant reduction in corn acreage for the upcoming season, driven by rising input costs and drought fears, according to a report from the Crop Estimates Committee.
Diesel Refining Margins Fall 7% on Rising Russian Supply and French Reserve Release
Profitability for refining diesel dropped sharply on Tuesday as Russian crude processing rebounded and France announced plans to release 10 million barrels from its strategic reserves, signaling an increase in global supply.
Poland to Finalize Strategic Oil Reserve Release Plan by End of November
Poland's energy minister announced the country will develop its own schedule for releasing strategic oil and fuel reserves by the end of November, while noting there is no immediate need for such action.
Saudi Aramco Offers Spot Crude to Europe as Pipeline Exports Resume
The state oil company is offering spot cargoes for October and November to compensate for earlier supply disruptions caused by a pipeline shutdown. The move is helping to ease tight market conditions and lower prices for some European grades.
Polymarket Faces Renewed CFTC Probe Over 2022 Settlement, Sources Say
The Commodity Futures Trading Commission is again investigating whether prediction market Polymarket violated a 2022 agreement to block U.S. users from its offshore platform, according to people familiar with the matter.
Trump Administration to Propose Easing Methane Rules for Oil and Gas Producers
President Trump is set to announce a plan to roll back Biden-era methane emissions rules for the oil and gas sector, a move timed to address voter concerns about energy prices a week before the midterm elections.
Yemen's Houthis Claim Missile Strike on Saudi Arabia's Largest Oil Refinery
Yemen's Iran-aligned Houthi group claimed it struck Saudi Arabia's largest oil refinery at Ras Tanura with a ballistic missile, a significant escalation in hostilities targeting the kingdom's critical energy infrastructure. Saudi authorities have not confirmed the attack, though reports suggest a fire near the terminal was contained.