Oil Markets

Americas refined products markets are adjusting to altered trade flows more than a year after Russia's invasion of Ukraine. Refined products that were once supplied to Brazil from the US Gulf Coast have now been replaced by Russian barrels, while other markets in Latin America are still being wary of touching Russian product out of fear of repercussions from the US. Oversupply has caused naphtha in particular to deal with volatility and low export demand. S&P Global Commodity Insights' Maria Jimenez Moya, Latin America refined products price reporter, sits down with Sarah Hernandez, managing editor for Americas light ends pricing, to discuss the changes arising in North and Latin American markets of naphtha and refined products as a result of Russian inflows. Related prices: NEW: AULDA00 - ULSD DAP South Brazil (All-Origin) $/bbl AGSUA00 - Gasoline CFR Suape Cargo Differential USC/Gal

Asia's oil demand revival, China's much anticipating role in aiding that recovery, heightened concerns around managing legal, regulatory and sanctions risks , as well as the region's affinity for embracing new energy will be some of the key themes in focus at the Asia Pacific Petroleum Conference -- or APPEC 2023 -- organized by S&P Global Commodity Insights and scheduled to take place in Singapore from September 4 to 6 of 2023. In a wide-ranging discussion with Asia Editorial Lead Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Calvin Lee, Asia Head of Content, Mriganka Jaipuriyar, Asia Head of News, and Kang Wu, Head of Global Demand and Asia Analytics -- share their insights on the key themes that could potentially dominate the discussions at APPEC, we well as how Asian energy companies and policy makers are crafting out their future energy strategies in a region heavily dependent on fossil fuel imports. S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date! Stay on top of our coverage of APPEC 2023 on our website. More listening options: We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

For many years, Russia was Europe's main supplier of key refined oil products until Western sanctions were imposed in February 2023. Six months into the embargo on Russian refined products, markets across the continent continue to adjust. Prices appear to be rising and shipping times have lengthened as European buyers find products further afield in India, the Middle East and the US Gulf Coast. In the second of a special two-part Platts Oil Markets podcast retrospective, OPEC+ Oil News reporter Rosemary Griffin and Refined Oil Products Managers Gary Clark and Kieran Hess join Francesco Di Salvo to discuss how European oil markets have adapted to a "new normal" following one of the most consequential events in the geopolitics of oil in decades. Click here to listen to part 1 of this special retrospective. Related price assessments: AAVBG00 – ULSD 10ppm CIF NWE Cargo PAAAL00 – Naphtha CIF NWE Cargo PMAAS00 – Propane FOB ARA S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date! Stay on top of our coverage of APPEC 2023 on our website. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

Trade disruptions. Refinery adjustments. New arbitrage flows. These are some of the consequences Europe faced as the continent had to wean itself off Russian crude following the embargo, which came into effect in December 2022. Russia has since managed to find new customers in Asia, but military attacks on oil infrastructure in the Black Sea could jeopardize such a strategy. In the first of a special two-part Platts Oil Markets podcast retrospective, OPEC+ Oil News reporter Rosemary Griffin and Crude Oil Managers Emma Kettley and John Morley join Joel Hanley to discuss how European oil markets have adapted to a "new normal" following one of the most consequential events in the geopolitics of oil in decades. KBCOB00 – KEBCO CIF Med vs Med Dtd Strip KBCOD00 – KEBCO CIF R'dam vs Med Dtd Stri AURLA00 – Urals DAP India vs Dubai DWCUB00 – Urals DAP India vs Forward Dated Brent S&P Commodity Insights APPEC is returning to Singapore this September 4-6. Save the date! Stay on top of our coverage of APPEC 2023 on our website. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

The small South American country of Guyana has experienced a quick transformation within the past decade, going from zero oil production in 2019 to nearly 400,000 b/d in 2023 and that is expected to reach around 600,000 by the end of 2024. That will position Guyana as one of the world's top oil producing countries in the world and a rare exception in the market where exploration and production is expanding. S&P Global Commodity Insights' oil pricing and news experts Laura Huchzermeyer, Patrick Harrington, and Starr Spencer discuss investment and pricing trends in Guyana, as well as new price assessments for Guyana's Unity Gold. Prices in this episode: Liza FOB Guyana ALIZA00> Unity Gold FOB Guyana AUNIA00> We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

Refiners in Asia are crafting out expansion strategies and pumping billions of dollars to diversify their portfolio and adapt to the changing energy landscape. Renewables, hydrogen and solar energy are starting to figure in their ambitions. But a key area of focus for refiners is to raise their petrochemicals intensity to ensure business models remain profitable in the event electric vehicles and other cleaner forms of energy take a toll on demand for transport fuels. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Maria Tsay, Global Head of Petrochemicals Pricing, Zhuwei Wang, Asian Oil Analytics Manager, and Pulkit Agarwal, India Content Head -- share their insights on whether going further downstream would be the only option for refiners to remain profitable and over the longer term. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: SPGCI Podcast Survey More listening options:

Nigeria, Africa's largest crude oil producer, is struggling to keep oil flowing amid leaks at the Forcados oil terminal port. The ill-fated facility has been offline for much of 2022 due to sabotage, and now faces the prospect of another force majeure that could affect European markets. In this episode of the Platts Oil Markets podcast, oil news reporter Charlie Mitchell and oil price reporters Luke Stuart and George Delaney join Francesco di Salvo to discuss what is happening in Nigeria and how traders have reacted so far. Related price assessments: AAGXP00 - Forcados FOB Nigeria vs WAF Dtd Strip AAGXL00 - Bonny Light FOB Nigeria London vs WAF Dtd Strip AAHPM00 - Azeri Light CIF Augusta vs BTC Dtd Strip We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

North American heavy and sour crude price differentials have reached multiyear highs in recent weeks. These are prices that are typically seen only after major production disruptions like hurricanes. But there are no clouds in sight in the Gulf of Mexico. Sour crude prices are supported by a myriad of factors including global supply tightness, Strategic Petroleum Reserve buybacks and very strong values for high sulfur fuel oil. S&P Global Commodity Insights' Laura Huchzermeyer, Americas crude pricing manager, discusses current pricing trends with USGC crude reporter Kristian Tialios and residual and marine fuel manager Patrick Burns. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

Europe is bracing for challenges this summer as its main waterway experiences lower-than-usual rainfall. The Rhine is drying up well ahead of historical patterns, and the short-term forecast is for water levels to fall below critical levels for barge navigation as early as mid-July. In this Platts Oil Markets podcast from S&P Global Commodity Insights, John Morley is joined by oil news reporter Robert Perkins, as well as Natasha Tan and Vinicius Maffei, middle-distillates and light-ends price reporters respectively. Together they look at the immediate impact and potential disruption to European oil product markets should the Rhine suffer a severe dry spell. Related price assessments: AAJUS00 - ULSD 10ppmS FOB ARA Barge PJABA00 - Jet FOB FARAG Barge PAAAL00 - Naphtha CIF NWE Cargo $/mt We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

Summer travel season is upon us, so what's the outlook for fuel demand in the Americas for the coming months? Naphtha, a key component in gasoline, was recently in short supply but now appears to be in ample supply, and recent S&P Global analyst reports show an anticipated rebound in diesel demand in the second half of 2023. S&P Global Commodity Insights' Sarah Hernandez, Americas light ends pricing manager, discusses recent trends in gasoline, aromatics and distillates with petrochemicals editor Wendy Dulaney and Americas distillates manager Jordan Daniel. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

OPEC's kingpin Saudi Arabia has slashed its crude output by a further 1 million b/d in July, bringing the alliance's total cuts to 4.7 million b/d in the month, or about 5% of global capacity. But with Asia's crude import mix evolving since the Russia-Ukraine conflict, S&P Global Commodity Insights' Asia Oil Editor Neo Rong Wei spoke with Asia Oil News Managing Editor Philip Vahn and China Analyst Oceana Zhou about the impacts of these cuts, as well as factors affecting Asia's crude demand. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz Related Platts price assessments: AAYEE00 - FOB Singapore 92 RON Gasoline crack spread vs M2 Dubai Swap AAHCF00 - FOB Singapore gasoil crack spread vs Dubai swap AAHCM00 - FOB Singapore Jet fuel/Kerosens crack spread vs M2 Dubai Swap Explore the details of the Energy Asia Conference here. CERAWeek by S&P Global is a knowledge partner for the conference.

The war in Ukraine has created a new set of trade flows, as many buyers look to avoid Russian commodities. What are European buyers doing to replace Russian crude oil, and how have these changed flows upturned the markets? In the latest Oil Markets podcast, London-based crude oil price reporters Luke Stuart, George Delaney, and Sam Angell discuss with Joel Hanley how oil from Brazil, Iraq, and the US is helping fill the gap. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz Related price symbols: AAWVI00 - Urals Primorsk vs Med Dtd StripPCAAS00 - Dated BrentWMCRB00 – WTI Midland CIF RotterdamAAGXN00 – Qua Iboe AAGXT00 – Cabinda And explore more crude grades on our Periodic Table of Oil, an interactive with all the key information on region of origin, price, trade volumes, sulfur content, viscosity, carbon intensity, trade flows and benchmarks.

Canada's crude production has been reduced in recent weeks by wildfires in Alberta, tightening price discounts for some Canadian crude grades. While the bulk of output has returned, and longer-term output is expected to rise 500,000 b/d by 2030, high development costs are threatening that outlook, with Equinor announcing a delay of its Bay du Nord project. S&P Global Commodity Insights' Jeff Mower, director of Americas oil news, discusses these market conditions and their impacts with Americas crude pricing reporter Julia Pecha and Calgary correspondent Ashok Dutta. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

More and more ships are turning off their transponders in the Black Sea in risky but lucrative trades. Deep discounts on Russia's main export crude, Urals, and refined products such as gasoil and diesel, are attracting strong market interest. And dark shipping in "no man's land" now appears to be another option for those willing to play the markets. In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Max Lin, Luke Stuart and Natasha Tan join Joel Hanley to discuss Russia's new attempts to break through Western sanctions. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz Related price symbols: AAWVI00 - Urals Primorsk vs Med Dtd Strip AAYWS00 - Gasoil 0.1%S CIF NWE Cargo AAVBG00 - ULSD 10ppmS CIF NWE Cargo Related content by our speakers on this episode: Russia behind 225% spike in shadowy oil transfers at sea Infographic: Russia drives global spike in dark STS transfers Russia's Urals shines as crude export volumes grow in May

As Asian oil demand recovery shows signs of sustaining the strong momentum, there were two key questions that's keeping refiners on tenterhooks -- if purchasing Russian crude would increasingly get tougher following the recent pledge by G7 leaders to ensure stricter policy enforcement. And secondly, if OPEC and its allies would aim for further cuts as prices have climbed down to relatively modest levels. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Kang Wu, Head of Global Demand and Asia Analytics, Herman Wang, Associate Editorial News Director for the Middle East and Europe, and Paul Sheldon, Chief Geopolitical Advisor -- share their insights on Russian flows, the future strategy of OPEC+ and other key issues that could potentially alter the oil supply landscape.

Nigerian President Muhammadu Buhari is due to inaugurate the 650,000 b/d refinery on 22 May. But after many years of delays, and with the project running $11 billion over its original $9 billion production cost target, many traders are questioning whether the project is really ready. In this episode of the Platts Oil Markets podcast, S&P Global Oil news reporter Charlie Mitchell and Gasoline editor Matthew Tracey-Cook join Joel Hanley to discuss what the market should expect from this colossal refinery that could change Nigeria's fortunes. Further reading, by speaker Charlie Mitchel: Long-awaited Dangote refinery set to shake up WAF crude, products flows Related price assessments: Gasoline FOB NWE West Africa Cargo - AAKUV00 Crude Oil Cabinda FOB Angola vs Angola Dtd Strip - AAGXT00 Crude Oil Bonny Light FOB Nigeria London vs WAF Dtd Strip - AAGXL00

This year, the US, alongside G7 countries, placed a price cap on Russian-grade refined product at $100/b. This marked another set of sanctions designed to shrink Russia's influence on global oil markets. Following the Feb. 5 price cap, disruptions have been seen in both the clean tanker market and the Americas diesel market. In this Oil Markets episode, S&P Global Commodity Insights' shipping, diesel, and Latin America refined products experts Eugenia Romero, Jordan Daniel and Maria Jimenez Moya sit down to discuss the current landscape and recent changes to these trade flows. Related prices: Clean USGC-Brazil 38kt (TCAFQ00) ULSD USGC prompt pipeline (AATGY00) ULSD USGC export (AAXRV00)

As of May 2, 2023, Platts incorporated US WTI Midland crude oil into Platts Dated Brent and related benchmark assessments. This is the first-ever inclusion of a non-North Sea grade and is expected to boost the liquidity of the world's most important physical crude oil leading benchmark assessment. In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights crude oil managers John Morley and Emma Kettley discuss with Joel Hanley the scope of the change and the implications of this momentous development. Learn more: Methodology and Specifications Guide, Europe and Africa Crude Oil FAQ: Platts WTI Midland's inclusion into the Brent complex Infographic: Brent benchmark gets major boost from US crude Contact us: [email protected]

One of the largest crude importers globally, China had seen demand plummet amid the pandemic, although it has been showing signs of recovery – with better-than-expected economic growth and record-high production in Q1 2023. S&P Global Commodity Insights Asia Oil Editor Neo Rong Wei discussed with Analyst Oceana Zhou and Asia Oil News Managing Editor Philip Vahn the outlook for oil in the region. On this episode of the Oil Markets podcast, we dive into what China's economic recovery means for the markets, and how Asia's outlook on oil may change amid a regional economic downturn. Related Platts price assessments: AAYEE00 - FOB Singapore 92 RON Gasoline crack spread vs M2 Dubai Swap AAHCF00 - FOB Singapore gasoil crack spread vs Dubai swap AAHCM00 - FOB Singapore Jet fuel/Kerosens crack spread vs M2 Dubai Swap

Italy's Eni has been one of the most successful drillers in Mexico. One of many E&P companies active in Mexico's upstream auctions following the country's 2013-2014 liberalization, Eni was the first independent to produce in Mexican waters in 2019. Most recently, Eni announced a 200 million boe discovery at the Yatzil well in the Salina sub-basin, and has just been given approval to drill another offshore exploration well. Jeff Mower, director of Americas oil news, and Sheky Espejo, Mexico energy correspondent, discuss what Eni's success means for Mexico's struggling oil output. Register for the Middle East Petroleum & Gas conference here

The debate over the use of alternative currencies in global oil trade has intensified over the past one year following the Russia-Ukraine conflict, which has not only dramatically reshaped oil flows but also altered energy relations between producers and consumers. But there are questions as to how quickly the global trading community can embrace alternative currencies while balancing the risks associated with moving away from the US dollar. In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, renowned commodities investor and chairman of Beeland Interests Inc. Jim Rogers, and two senior leaders at S&P Global Commodity Insights - Dave Ernsberger, Global Head of Market Reporting and Trading Solutions, and Chief Energy Strategist Atul Arya - share their views on the challenges and opportunities ahead as debate on the subject intensifies.

Increased volatility, rising prices and strained geopolitical relations. These are some of the side-effects of the latest OPEC+ production cut. Meanwhile, Platts Market on Close crude assessments fully reflect traders' sharp reaction to the surprise move amid uncertainty in various oil grades. In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Rosemary Griffin, Sam Angell and Luke Stuart join Joel Hanley to discuss the immediate impact of the OPEC+ announcement, the decision by Russian sellers to change the way they price barrels, and potential threats to an already fragile global oil supply. Join us at MPGC 2023! The 30th Annual Middle East Petroleum & Gas conference (MPGC) will be brought to you by S&P Global Commodity Insights, along with the host, Emirates National Oil Company (ENOC) on 22-23 May 2023 in Dubai, UAE. Registrations are open! Related Platts price assessments: PCAAS00 - Dated Brent PCAAT00 - Dubai Mo01 (NextGen MOC) Urals FOB Primorsk Urals FOB Novo Afra AAGZS00 - Urals FOB Novo SuezDWCUA00 - Urals DAP West Coast India AAEJD00 - Kirkuk FOB Ceyhan

US fuel oil stocks in the first quarter of 2023 reached their highest levels since April 2020. Traders have had to alleviate their oversupply by exporting, though high freight rates have made profits more difficult to find. In this Oil Markets episode, Americas fuel oil experts Beth Brown and Patrick Burns sit down with Americas shipping experts Catherine Rogers and Catherine Kellogg to discuss how traders have had to shift routes and export heavier material to find an open arbitrage. Prices in this episode: PUAFZ00 (USGC HSFO) TDUCG00 (Dirty USG-UKC Aframax)

In this episode of the Platts Oil Markets podcast, Francesco Di Salvo is joined by Gary Clark, Patrick McAllister and Matthew Tracey-Cook to explore the theme of evolving standards and specifications for transport fuels in the continent reflecting on the main takeaways of ARDA Week 2023. Price assessments discussed in this episode: FOB ARA 0.1% gasoil barges: #AAYWT00 FOB AR 10ppm premium gasoline barges: #PGABM00

Energy stakeholders from around the world gathered in Houston this week for CERAWeek by S&P Global to talk about the biggest issues and current trends in the energy industry. On the oil front, speakers and panelists highlighted permitting timelines amid record-high export crude demand, while a shift in hedging practices was seen in light of recent volatility in crude prices. In this Oil Markets podcast, Jeff Mower sits down with Dave Ernsberger and Binish Azhar to discuss these topics and others coming out of the conference. Register here for the World Petrochemical Conference, March 20-24

The year 2023 did not start as expected: China suddenly dropped all COVID restrictions, boosting sentiment in the global jet market, while diesel prices fell despite the ban on Russian oil product imports into the EU from 5 February. As a result, European jet fuel cracks jumped above diesel, but the spread narrowed by the end of February and the two products are now neck and neck, raising the question of which one will be maximised by refiners, thus tightening the supply of the other in the coming months. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights experts Maxim Kotenev and Gary Clark join Francesco Di Salvo to discuss the outlook for the jet fuel market, its potential impact on other middle distillates and whether a recession is likely to prevent aviation from fully recovering from the pandemic. Related price symbols: Diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00 Jet fuel: CIF NWE jet fuel cargoes #PJAAU00

With the European Union's ban on Russian oil products coming into effect, the spotlight is now on Asia as the market tries to find answers to the extent to which the region can absorb Russian products displaced from Europe and how Asian refiners can take advantage of the product vacuum in other regions of Europe. In a wide-ranging discussion with Asia Energy Editor Sambit Mohanty, S&P Global Commodity Insights senior experts Jonathan Nonis, Wendy Cheong and Zhuwei Wang discuss the outlook for potential changes in product flows, such as diesel, naphtha and LPG, that Asia could see, as well as the pricing, shipping and logistics challenges that could arise with long-distance product shipments.

In March, Europe is set to experience a record surge in WTI Midland crude flows from the US, as demand for American crude booms. In the latest Platts Oil Markets podcast we explore the key drivers behind this increase in demand and the push and pull factors fueling the growth in US crude exports to Europe. Join editorial director John Morley and editors David Lewis, Sam Angell, and Vinicius Maffei for valuable insights into the latest developments in the global oil market and the implications for the energy industry. Related price assessments: WTI Midland CIF Rotterdam vs Dated Brent: WMCRB00 Naphtha CIF NWE cargo M1 crack: AAECX00 Gasoline Eurobob 10ppm FOB ARA barge crack: ABWFL00

Oil and gas producers and service companies have been reporting their fourth-quarter earnings over the past few weeks. And, apart from the headline-grabbing record profits, we've seen some common themes and concerns emerge. While companies have generally been more optimistic as far as inflation and bottlenecks go, they also continue to express concerns about underinvestment. What does this mean for oil and gas production? Jeff Mower, director of Americas oil news, is joined by senior oil editor Starr Spencer and natural gas editor Dylan Chase to discuss these issues and more. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Midland WTI (PCACJ00), Waha gas (IGBAD21) and much more.

What will replace Russian diesel and naphtha flows to Europe after EU sanctions take effect on 5 February? Where will Russian supply go instead? In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors Rowan Staden-Coats and Vinicius Maffei join Joel Hanley to discuss the expected impact of the upcoming sanctions, what uncertainties remain about replacement supply and whether Russian production will have to be cut after 5 February, and what impact this could have on global supply and prices. Related price symbols: CIF ARA 10ppm ULSD cargoes #AAVBG00 CIF NEW naphtha cargoes #PAAAL00

The Russia-Ukraine war has dominated the attention of global commodity markets for nearly a year now. As the start date for the latest EU sanctions against Russian refined products approaches, questions about what these sanctions could mean for trade flows also grow. And while these questions often center on potential changes in US and European markets, the global impact of sanctions could also extend to other regions, such as Latin America. S&P Global Commodity Insights' Americas oil experts Anna Trier, Jeff Mower and Maria Jimenez Moya dive into the impacts seen from the Dec. 5 sanctions against Russian seaborne crude, and what we could expect to see in US, Europe, and Latin America markets after the Feb. 5 sanctions go into effect. Register for the Platts London Energy Forum here

China has already hinted at its first batch of oil product export quota for 2023, which has left some market watchers nervous amid the current economic headwinds at the start of this year. In this episode, we look deeper at the implications of the oil product export quota from China, how it could impact the oil product supply-demand fundamentals in Asia, and what the rest of Asia can expect. S&P Global Commodity Insights' experts—Oceana Zhou and Su Yeen Cheong from the Platts editorial team and Wang Zhuwei Manager, Asia oil analytics. Related price symbols: PGAEY00 - Gasoline Unl 92 FOB Spore Cargo PJABF00 - Jet Kero FOB Spore Cargo AAOVC00 - Gasoil .001%S (10ppm) FOB Spore Cargo POABC00 - Gasoil FOB Spore Cargo PUADV00 - FO 180 CST 3.5%S FOB Spore Cargo PPXDK00 - FO 380 CST 3.5%S FOB Spore Cargo PAAAD00 - Naphtha C+F Japan Cargo $/mt (NextGen MOC)

Natural gas supply disruptions into Europe saw both LPG and gasoil heating fuels used as substitutes in 2022 with concern over preparations for winter amid a low stocks environment. However, a mild winter thus far has kept heating fuel markets weak, limiting switching between different fuels. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors Aly Blakeway, Patrick McAllister and Maxim Kotenev discuss with Gary Clark supply, demand and prices for European gasoil, LPG and kerosene for heating markets amid a mild winter, and ahead of sanctions on Russian oil product exports into the European Union from February 5. Price assessments on Platts Dimensions Pro: Platts Propane CIF NWE Large Cargo: #PMABA00 Platts Gasoil 0.1%S CIF NWE Cargo: #AAYWS00 Platts Jet CIF NWE Cargo: #PJAAU00

In this special episode of the Platts Oil Markets podcast, S&P Global Commodity Insights leaders Joel Hanley, Sambit Mohanty and Richard Swann round up the events of 2022. From the war in Ukraine to renewed Chinese lockdowns, the team looks at disrupted trade flows and the renewed challenges for supply and demand in a volatile world. Also check out: Platts Capitol Crude podcast

With the European Union ban on Russian seaborne crude imports and the price cap of $60 a barrel taking effect, the spotlight is now on China and India as the market tries to assess to what extent top Asian buyers can absorb the additional displaced barrels from Europe. In this podcast, Sambit Mohanty, Asia Energy Editor, discusses with Calvin Lee, Asia head of content, Alice Niu, China head of content and Pulkit Agarwal, India head of content, the implications of the $60/b price cap for Asian buyers, the impact of the decision of OPEC and its allies to keep their policy unchanged, and China's oil consumption outlook amid easing of pandemic-related restrictions. Related infographic: G7 price cap hangs over Russian oil flows Subscribe to Platts Dimensions Pro for access to assessments and premium content covering crude oil. Click here to listen to the Capitol Crude podcast series.

The development of Mexico's upstream oil sector has slowed since President Lopez Obrador was elected in 2018, as Lopez Obrador halted the upstream auctions put in place by the liberalization process that started in 2013. However, several companies were able to get their foot in the door, and as a result production from the private sector is expected to edge higher in coming years. Sheky Espejo, S&P Global Commodity Insights' Mexico energy correspondent, joins Jeff Mower, director of Americas oil news, to discuss this trend. Related assessments: AAYMP00 – Maya market parity price AAXWA00 – CIF Eastern Mexico gasoline

With longer-haul voyages and the 'dark fleet' growing, tight freight availability is pushing shipping rates to fresh highs. What does strong shipping market mean for the crude competing to replace Russian flows?S&P Global Commodity Insights reporters George Papageorgiou, Sam Angell, and George Delaney discuss with Joel Hanley the spike in rates and the effect on oil from the Mediterranean and Africa. Related stories: Soaring tanker freight depresses FOB differentials for Med, West African crudes FEATURE: Growing maritime risks as shadow tanker fleet expands to cover Russian trades Related price assessments: AAGXN00 - Qua Iboe FOB Nigeria vs WAF Dtd Strip AAGXJ00 - Urals Rotterdam vs Med Dtd Strip TDACS00 - West Africa-UKC 260kt $/mt TDACR00 - West Africa-UKC 130kt $/mt TDABL00 - Ceyhan-Med 80kt $/mt

The tug-of-war between Asia and Europe for sourcing oil is set to intensify as the European Union's ban on Russian seaborne crude inches closer. From Middle East to Africa, suppliers are already feeling the pressure of how to split supplies between different regions. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, S&P Global Commodity Insights' experts--Andy Critchlow, Head of News for Europe, Middle East and Africa, Paul Sheldon, Chief Geopolitical Advisor, and Kang Wu, Head of Global Oil Demand and Asia Analytics--share their insights on some of the biggest challenges the market may face after sanctions are imposed, the strategy of OPEC+ and the hurdles in making the G7 price cap work. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering crude oil. Related content: Energy Security Sentinel

In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Robert Perkins, Virginie Malicier and David Lewis discuss with John Morley what has already changed in the oil markets since February 24 and the expected impact of upcoming sanctions, from the ban on exports of Russian crude oil to Europe and the US for any loading after December 5, to the ban on exports of oil products into Europe from Feb. 5 and the shipping insurance ban from December as well. Related price assessments: Non-Russian diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00 Diesel including Russian origin: CIF ARA 10ppm ULSD "all origins" cargoes #ALORA00 Dated Brent: #PCAAS00 Russian crude oil: Urals CIF NWE #AAGXJ00 New assessment of Kazakh origin Urals (started on Nov. 1): CIF Med KEBCO #KBCOA00

The US Gulf Coast crude market is exporting record volumes while also seeing sky-high freight rates. This dynamic has been playing out consistently for the past few months, but how are these exports continuing to move in such great volumes despite this major headwind? In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights crude and shipping experts Laura Huchzermeyer, Kristian Tialios and Catherine Kellogg discuss the factors that are contributing to these high freight rates and how they are impacting US Gulf Coast exports. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts AGS (AGSAA00), 130kt Suezmax Brazil-UK Continent (ABRKB00), 270kt USGC-China (TDUCB00) and much more.

What role will oil play in mitigating Europe's natural gas problem this winter? With energy costs skyrocketing since the start of the Russian-Ukraine war, industries and households across the continent have been looking across the barrel for practical alternatives to natural gas. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights associate editors Aly Blakeway and Patrick McAllister explore with Francesco Di Salvo to what degree LPG and gasoil may be utilized in the short-term to replace natural gas. LPG: CIF ARA large propane cargoes PMABA00 LPG barges: FOB ARA propane barges PMAAS00 0.1% gasoil: FOB 0.1% gasoil barges AAYWT00 ULSD: FOB ARA 10ppm diesel barges AAJUS00

Oil product market sentiment in Asia has been volatile due to the larger-than-expected Q4 exports from China. The uncertainty saw the region's best-performing product crack for the year -- ULSD -- falling by a record 30% in just two trading sessions in the first half of September. As trading sentiment slowly recovers, the Asian oil market has to adjust to the expected increase in oil products from China over the next few months amid gloomy macroeconomic scenario. In a discussion, S&P Global Commodity Insights' experts Jonathan Nonis, Oceana Zhou, Su Yeen Cheong, and Zhuwei Wang talk about the impact of China's Q4 oil products export this late in the year and what it means going forward. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.

The gasoline and diesel markets in Northwest Europe have tightened as France seeks alternative sources of supply due to strike at five of the country's six refineries. Though negotiations are ongoing at ExxonMobil and TotalEnergies, and strike action might stop soon, supply disruptions are expected to continue at least for a few weeks. In this bonus episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights senior editors Virginie Malicier and Elza Turner discuss with Francesco Di Salvo why these social movements had such an impact on road fuel prices. This week's episode: It's been a perfect storm for Midwest gasoline supply Related price symbols: PCAAS00 - Dated Brent AAJUS00 - ULSD 10ppmS FOB ARA Barge ABXGT00 - ULSD 10ppm CIF NWE basis Le Havre Cargo Eur cents/liter AARIN00 - ICE LS Gasoil at London MOC Mo01 (NextGen MOC) AARIO00 - ICE LS Gasoil at London MOC Mo02 (NextGen MOC)

Though summer driving season is already in the rearview mirror, gasoline differentials in the US Midwest and West Coast apparently haven't gotten the memo. A flurry of planned and unplanned refinery outages in both regions have pressured already-tight supply dynamics as the rest of the world scrambles to secure gasoline supply. S&P Global Commodity Insights gasoline reporter Anna Trier speaks with Debnil Chowdhury, Americas Head of Refining and Marketing at SPGCI, about how refinery issues catapulted Chicago gasoline differentials to all-time highs and what relief, if any, is on the horizon for Midwest production.

S&P Global Commodity Insights senior leaders Richard Swann and Dave Ernsberger discuss with Joel Hanley the issues highlighted by Singapore's APPEC event, the first fully in-person edition of Asia's leading oil forum in two years. Topics for under discussion included energy security, OPEC+ cuts, the price cap on Russian oil, Chinese quotas, and more, showing once again how this important event helps shape the energy conversation. Related price assessment: Dated Brent: PCAAS00

The strength seen across European and African crude oil markets in the spring and summer has largely been eroded as focus shifts to the potential demand reduction caused by economic slowdowns. There are some potential headwinds on the horizon that could shift this more bearish picture however, with multiple supply disruptions hitting the North Sea, Mediterranean, and West Africa. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors David Lewis and Sam Angell join John Morley to discuss the latest news shaping European crude markets. Price assessments discussed in this episode: Dated Brent outright price (PCAAS00) CPC Blend vs forward Dated Brent (AAHPL00) WAF Index vs forward Dated Brent (AWAFB00)

The path to recovery for Asian oil demand has not been free of challenges. With a worse than expected consumption outlook in China due to pandemic-induced lockdowns, markets are looking for answers on whether gains in Asia, excluding China, will be strong enough to offset the bearish consumption outlook in the region's biggest oil consumer. In a wide-ranging discussion ahead of APPEC 2022, S&P Global Commodity Insights' experts--Dave Ernsberger, Head of Market Reporting and Trading Solutions, Rosemary Griffin, Russia Managing Editor and Zhuwei Wang, Asian Oil Analytics Manager-- discuss with Sambit Mohanty, Asia Energy Editor, the possibility of Asian oil demand returning to pre-pandemic levels in 2022, the outlook for Russian oil flows to the region, and the energy security versus energy sustainability debate. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering Platts Gasoline Unl 92 FOB Spore Cargo (PGAEY00), Platts Gasoil FOB Spore Cargo (POABC00) and much more.

With the energy crisis looming over Europe, many industries fear they will have to reduce production, including petrochemical crackers. These consumers of feedstocks such as naphtha and LPG are sensitive not only to high natural gas prices but also to a lower demand outlook for plastic goods amid economic downturn and inflationary pressures. In this Oil Markets episode, S&P Global Commodity Insights editors Vinicius Maffei and Aly Blakeway explore with Francesco Di Salvo the impact of these pressures on European naphtha and LPG markets. Subscribe to Platts Dimensions Pro for access to assessments and premium content covering naphtha (PAAAL00), LPG (PMABA00), and much more.

Record-low stock levels in US diesel markets could signal problems for the highly liquid product. Dry weather has dampened crop projections, and long-term backwardation has stifled diesel storage and movement between regions in the US. Associate refined products director Matthew Kohlman and diesel pricing specialist Wendy Dulaney discuss seasonal trends in ULSD as fall approaches.

EU sanctions on Russian fuel oil have dramatically altered supply flows for high sulfur material within Europe, and while there is some trading activity still in the Mediterranean basin, most Russian fuel oil is heading to Singapore and elsewhere in the East. While weaker demand has offset a lack of supply within Europe for now, market uncertainty remains high with the question of where Europe will get its imports from in the future open. In this episode of the Oil Markets Podcast, S&P Global Commodity Insights editors Mary Tiernan and Chloe Davies discuss with John Morley sanctions and market dynamics for high sulfur fuel oil and VGO in Europe.