Crude Oil Market
Barring a few macro risks, oil marketing firms seem to be in a sweet spot
China today has the largest refining capacity globally, with its refining capacity to reach 21 million barrels per day (mb/d) in 2025
 "Barring a few macro risks, oil marketing firms seem to be in a sweet spot")
Oil futures, options hit record Q2 volumes amid global market turmoil
Significant volatility in the second quarter had global benchmark Brent crude futures dropping to a four-year low of $60.23 a barrel on May 5 and then surging to $78.85 on June 19
 "Oil futures, options hit record Q2 volumes amid global market turmoil")
Israel-Iran clash: No immediate impact on crude oil supply, say officials
Officials say India's crude and LNG imports remain steady but warn that any hostilities affecting the Strait of Hormuz could threaten oil flows from Gulf partners
 "Israel-Iran clash: No immediate impact on crude oil supply, say officials")
Oil slumps nearly 4% on US-Iran deal hopes as stock rally eases
It was not just Brent that was impacted. Europe's oil and gas stocks toppled back nearly 2%, while government bonds of rival producers from Angola to Nigeria also took a hit
 "Oil slumps nearly 4% on US-Iran deal hopes as stock rally eases")
Oil prices rebound nearly 3% after drop, but oversupply fears weigh
The return of Chinese market participants after a five-day public holiday since May 1 was also seen supporting prices on Tuesday
 "Oil prices rebound nearly 3% after drop, but oversupply fears weigh")
Oil set for biggest weekly loss in a month ahead of OPEC+ meeting
The OPEC+ meeting was moved up to Saturday from the original plan of Monday, three sources told Reuters on Friday, although it was not immediately clear why the meeting was rescheduled
 "Oil set for biggest weekly loss in a month ahead of OPEC+ meeting")
IEA cuts 2025 oil demand forecast amid trade tensions, economic uncertainty
Global oil demand expected to rise by 730,000 b/d in 2025, down from 940,000 b/d last year
 "IEA cuts 2025 oil demand forecast amid trade tensions, economic uncertainty")
WTI crude oil may stay below $60 in H2-CY2025 on Trump tariff woes: Analyst
Oil prices: The 90-day relief on reciprocal tariffs could see crude oil prices edging a bit higher towards $65. However, overall, we expect prices to trade range bound between $65-$58
 "WTI crude oil may stay below $60 in H2-CY2025 on Trump tariff woes: Analyst")
US mulls plan to halt Iranian oil tankers at sea to disrupt exports
That would delay delivery of crude to refiners. It could also expose parties involved in facilitating the trade to reputational damage and sanctions, the sources said
 "US mulls plan to halt Iranian oil tankers at sea to disrupt exports")
Phillips 66 Q4 loss softened by renewable fuels as refining margins fall
On an adjusted basis, the company reported a loss of 15 cents per share in the quarter, compared with the analysts' average estimate of 23 cents loss per share, according to data compiled by LSEG
 "Phillips 66 Q4 loss softened by renewable fuels as refining margins fall")
US oil refiners face a tough year as investor sentiment turns negative
US refining utilization averaged 90.3 per cent in the fourth quarter, up from 87.6 per cent in the same quarter last year, according to Tudor, Pickering, Holt & Co
Indian refiners eye windfall from Urals oil drop: Will motorists benefit?
Indian refiners may face a windfall this year from falling Urals oil rates even as US levies sanctions on Russian firms. Will motorists benefit?
 "Indian refiners eye windfall from Urals oil drop: Will motorists benefit?")
Crude oil prices rise on China optimism as investors return after holiday
Xi's New Year address on Tuesday said that China would implement more proactive policies to promote growth in 2025
 "Crude oil prices rise on China optimism as investors return after holiday")
CRISIL analysis: Crude oil prices may soften on lower risk premium
Amid the shifting sands of geopolitics, Russia remained India's top crude oil supplier accounting for 35 to 40 per cent of total imports
 "CRISIL analysis: Crude oil prices may soften on lower risk premium")
Carlos Slim invested $1 billion in 2024 to supercharge crude oil bets
Slim now owns 24.2 per cent of Talos, prompting the board in October to introduce a poison pill to prevent him from acquiring more than a quarter of the stock
 "Carlos Slim invested $1 billion in 2024 to supercharge crude oil bets")
State refiners may buy Middle East spot oil to replace Russian shortfall
The refiners fear continued problems in securing Russian oil in the spot market could continue in coming months
 "State refiners may buy Middle East spot oil to replace Russian shortfall")
Major port cargo rises 6% in September at 65 million metric tonnes
The previous month saw a near 9 per cent increase in export-import (Exim) cargo and a 1.9 per cent fall in coastal cargo
 "Major port cargo rises 6% in September at 65 million metric tonnes")
India's crude oil import bill surge 12% in H1 FY25 amid domestic slump
Crude oil imports amounted to 120.5 million tonnes between April and September, representing a 4 per cent increase from the 115.9 million tonnes imported during the corresponding period last year
 "India's crude oil import bill surge 12% in H1 FY25 amid domestic slump")
Crude Oil prices down 9% in 5 weeks on growth worries; outlook stays tepid
The overall sentiment in oil remains bearish and we expect prices to see further sell towards the support of $70 and $68 per barrel, says Mohammed Imran of Sharekhan by BNP Paribas.
 "Crude Oil prices down 9% in 5 weeks on growth worries; outlook stays tepid")
Russian oil prevails in India's July imports despite refinery shutdowns
Low discounts fail to impact pecking order; continuing reliance on Russian supplies helps prop up GRMs of refiners
 "Russian oil prevails in India's July imports despite refinery shutdowns")
