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European diesel margins jumped Tuesday, as a confluence of factors led markets higher. Gasoil (diesel) margins in Europe rose to $36.84 per barrel, up $4.12 from Friday's close: Russian diesel exports to Europe fell another 8% in May, are at their lowest level since October 2020, and ~2...
The President is reportedly asking oil refiners and integrated companies to "restart idled refineries." The move marks a pivot in three ways. First, the Administration is acknowledging that prices at the pump are elevated in large part because of a shortage in refining capacity. Sec...
--News Direct-- The Detroit refinery hosted a Small Business Saturday event in April to highlight local vendors in the community and help stimulate the local economy. This community fair was part of the refinery’s second annual Fueling Detroit Event Series. Nearly 300 residen...
Shortly following Russia's invasion of Ukraine, commodity strategists and investors worked feverishly to forecast the impact of sanctions and self-sanctioning activity on global energy supplies. Estimates ranged from no impact to a ~3.0mb/d loss in global oil production; however, recent data ...
Regulations mandate US oil refiners do not blend low-cost products like butane into the gasoline pool during summer, as the blended components increase smog. However, the Biden Administration is reportedly considering a suspension of the mandate, in a move that could lead to lower prices at t...
Over the weekend, Saudi's energy minister told the Financial Times that the Kingdom plans to "work out an agreement with OPEC+ .. which includes Russia." Since Russia's invasion of Ukraine, Saudi has been consistent in messaging that the cartel "should not play politics" and that managing oil...
The White House has become increasingly aware of the "worrisome decline" in diesel inventories in the Northeast. According to sources cited by CNN, the White House is considering a release of strategic stockpiles to combat the crisis. Given the reduction in East-coast diesel inventories of ~4...
Much ink has been spilled over the companies and sectors benefitting most from the pandemic. Behavioral changes stemming from health concerns, paired with historic fiscal and monetary stimulus, fueled share price performance for many perceived "pandemic winners." Salesforce (CRM) replaced Exx...
The US Department of Transportation reported Thursday that total miles driven in the US surpassed pre-pandemic levels. Americans drove 277.4b miles in March, up from 272.4b miles during the same month in 2019 (+1.8%), and up from 269.4b miles in March 2021 (+3.0%). Prices at the pump made all...
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Blackcomb Pipeline Reaches Final Investment Decision to Transport Growing Natural Gas Production from the Permian Basin to the Gulf Coast Region PR Newswire AUSTIN, Texas , July 31, 2024 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE: M...
An emergency food pantry in Dickinson, North Dakota, recently got help in meeting local needs after issuing a public call for assistance via social media. The Association to Meet Emergency Needs pantry needed to replenish its supply shelves, prompting support from Marathon Petroleum's Dick...
NORTHAMPTON, MA / ACCESSWIRE / July 16, 2024 / Marathon Petroleum Corporation The Port of Long Beach, California, is supporting an effort to reduce debris in the port with devices that collect trash from the surface of the water. Marathon Pipe Line installed two electric trash skimmers ...