- Oil nudges higher on hopes of summer fuel demand
June 10, 2024
"We continue to expect the market to firm up and crude prices to reach mid-$80/bbl levels as we move into 3Q 2024, but it will likely need a convincing signal of tightening from preliminary inventory data," FGE said.
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- Oil Prices Start the Week With a Slight Gain but Uncertainty Remains
June 10, 2024
Another aggravating factor for oil prices was the increase in inventories across OECD countries. Those were reported at 48 million barrels on land in May, which was significantly higher than the 2015-2019 average, which stood at 30 milli...
- The World’s Flying Again and Jets Are Burning Fuel Like It’s 2019
June 10, 2024
“As a human race, we are starting to travel more again,” said Eugene Lindell, head of refined products at industry consultant FGE. We are “shaking off the pandemic years.”
Both the International Energy Agency and FGE do not expect deman...
- Asia high-sulphur fuel oil market to take a breather in strong rally
June 06, 2024
"HSFO cracks should ease from current levels as we expect Russia's HSFO exports to remain elevated at around 600,000 barrels per day in June," said Palash Jain, a Middle East oil analyst at consultancy FGE, noting that several Russian re...
- Extreme Asian heat spurs LNG demand ahead of summer months
June 03, 2024
"Spot prices are now driven by Asian demand. Temperatures in South Asia are rising due to a heatwave, increasing power demand," said Siamak Adibi, principal consultant at energy consultancy FGE.
While China may still see lower demand co...