Insight
What price oil? 2024 In review
A review of pricing data through 2024, for both Brent crude and HVO diesel, produced in association with The Oil Market Journal The following pages present a graph that shows...
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Analysis
Why kerosene surged: Inside the heating oil price shock
...of systematic profiteering by distributors. Why kerosene has surged faster than crude One of the most common questions is why heating oil has risen so much more sharply than crude....
News
An Iran Conflict special market briefing From the Oil Market Journal
...crude oil. U.S. has 439.279 mb of commercial crude stocks.* U.S. has 415.441 mb of emergency reserves.* This equates to almost 1 barrel in emergency reserves for every barrel of...
Market Report
Why US action in the Middle East has handed power to the regime it intended to suppress
...lost refining capacity, than it is to replace lost crude production. After all, we know that there is sufficient crude oil in the world (even outside of the Middle East)...
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Insight
The Humber refinery – a key indigenous source of supply
...facility comprises two distillation units, one running light low to medium sulphur crudes with the other running sour/acidic crudes primarily from the North Sea for which the facility’s location endows...
News
OPEC+ continues oil production cut in uncertain market
...crude oil exports from the Middle East, West Africa, and US. The crude import ban is followed by a product import ban for the EU starting 5 February. With the...
Insight
Association stats show steady progress towards net zero
...Russian imports, however, was not the same for different oil products with Russian crude replaced first and diesel taking an extra two months to be phased out. Most Russian crude...
News
Cyberattack effect on oil prices
...2% as a result. “As a domestic distribution network of refined product, opposed to crude, the wider impact on global oil prices was lessened, for example Brent crude prices increased...
Market Report
Prices and predictions: how did we do in 2025, and what does 2026 hold?
...demand remains stagnant. The most optimistic growth forecasts for crude consumption only show an increase in demand of circa 1.1m bpd in 2026, versus crude supply increases of up to...
Market Report
Volatile grounds: How geopolitical crises shape oil price fluctuations
...of Brent Crude in January was $78 per barrel (bbl), but by the end of May it had fallen to $63 – a 20% drop in the price of crude....
Further Reading
Opinion
Crude falls below $100/bbl as OPEC+ increases output but for how long?
...crude oil stocks of 4.5 million barrels, had an immediate impact on the oil price with crude oil trading lower the morning after the OPEC+ agreement was announced. Falling below...
News
Oil price at seven-year high amid supply concerns
...crude inventories are running low. In a recent report, Morgan Stanley said it had calculated that observable crude oil inventories globally had shed some 690 million barrels in 2021 leaving...
Market Report
Prices and predictions: how are we faring?
...it has had in lowering consumer prices, because do remember that end-users buy refined products, rather than crude oil itself. So, in January, refineries were buying their crude at $76...
News
February 2016 update
...of the crude oil sold around the world. The vast majority of crude oil is sold at a discount to these two grades. So when we talk about $20 a...
Opinion
We’ll meet again: oil to gas price gap shrinking rapidly
...have talked quite a few times about how the very high natural gas price must be a very bullish element for crude oil in general and for light sweet crudes...
Analysis
Energy Resilience – Is the UK facing a crisis?
...that importing refined materials drives a lack of control of the source of the crude being refined, as is the case on refined imports from India. India imports crude oil...
Analysis
Why has the price of heating oil risen faster than crude?
Heating oil prices have surged in recent weeks, as global oil markets react to escalating conflict in the Middle East. But while crude oil prices have risen sharply, kerosene –...
News
Why Canada’s environmental zealot will happily leverage the country’s oil to avoid financial havoc
...be the ultimate loser in any general “tit-for-tat” tariff war. Nonetheless, the new Prime Minister does hold one “ace in his pack” and that of course is Canadian crude oil....