India’s Diesel Exports Experience Shifts in August
India’s diesel export landscape is undergoing notable shifts in August, with rising volumes to Singapore and changing dynamics in Europe. The surge in diesel exports to Singapore, expected to reach a 19-month high, is driven by factors like lower freight costs and depleted inventories in the region. Conversely, diesel exports to Europe are predicted to hit their lowest levels this year, attributed to more lucrative economies in the East. While the current trend might be short-lived due to changing price spreads, the complex interplay between demand, economics, and regional dynamics showcases the dynamic nature of the global diesel market. This evolving scenario highlights the challenges and opportunities that exporters navigate to optimize their positions.
Oil falls again as worries grow over global economy, China COVID cases
Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID cases.
Oil prices edge down, recession fears back in focus
Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal.
Oil prices climb on concerns over tight supplies
Oil prices rose on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about falling demand in China, the world’s biggest crude importer.
Big U.S. banks see loan growth slowing as outlook for demand, economy darkens
U.S. bank executives said they’re optimistic on loan growth as demand for borrowing from retail and business customers bounced back in the second quarter from the lows of the pandemic, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence.
Analysis: High energy prices could sink U.S. stocks during earnings season
Sky-high oil prices pose yet another obstacle to U.S. corporate earnings, and some on Wall Street are worried this could sink stock prices even deeper into the red.
Oil rebounds as supply concerns dominate
Oil prices rebounded on Wednesday as a drop in U.S. oil inventories and concerns over tighter supplies from Russia and Libya drove a recovery from the previous session’s sharp losses.
LME suspends nickel trading after prices soar past $100,000
The London Metal Exchange (LME) halted nickel trading on Tuesday after prices doubled in just hours to a record $100,000 per tonne, fuelled by a race to cover short positions after Western sanctions threatened supply from major producer Russia.
U.S. economy likely regained steam in Q4, 2021 growth seen best in 37 years
U.S. economic growth likely accelerated in the fourth quarter as businesses replenished depleted inventories to meet strong demand for goods, helping the nation to log its best performance in nearly four decades in 2021.
EXCLUSIVE India starts selling oil from strategic reserves after policy shift
India has begun selling oil from its Strategic Petroleum Reserve (SPR) to state-run refiners as it implements a new policy to commercialise its federal storage by leasing out space, three sources familiar with the matter said.
