News
September 14 update
...North Sea oil had just been discovered and the slogan “it’s our oil” began to get traction. Back in October 2013, we looked at the downstream oil industry in Scotland...
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Interview
Celebrating 50 golden years of Peak Oil
...Peak Oil Tom Pearson founded Peak Oil as a business from his home address in Dronfield, back in 1972 and explains how it all began: “I started Tom Pearson Oils...
News
Market intelligence – FREE trial offer
The Oil Market Journal (OMJ) has expanded rapidly from its origins in 1999 when its aim was to provide large volume oil buyers with reliable Rotterdam spot market trading assessments....
Opinion
Free oil? Not today …
...that does not mean that oil no longer has any value. The value of the oil in store is almost certainly already sold in the forward markets at a positive...
Insight
The downstream oil market landscape of Ireland in the 2020s
...Oil. In 2018, Irving Oil acquired large independent, Tedcastle Oil Products (TOP), providing it with a distribution terminal in Dublin as well as a substantially expanded market reach. The refinery...
Sponsored
ESL Fuels Biofuel Market Update – Q1 2025
...the UK, following concerns that export prices are below market value, potentially undermining the domestic biodiesel market. EU anti-dumping levies on US product were lifted in the UK in 2022...
News
Double awards success for WCF Chandlers
At the end of 2022, WCF Chandlers, the Lincolnshire based distributor, celebrated a fantastic double win at a local business awards event. The annual Grantham Journal Business Awards were held...
News
February 2016 update
...demand. The current over supply situation has been well documented; fracked oil flooding US markets, OPEC refusing to cut production in an attempt to maintain market share and now, Iran’s...
News
Argus partners with OMJ to add transparency to downstream fuel prices
Having agreed a partnership that will see its clients benefit from greater insight and market transparency, Oil Market Journal (OMJ) will now distribute Argus prices to its clients, including key...
Market Report
Volatile grounds: How geopolitical crises shape oil price fluctuations
...per barrel. It was at this point though, that the big hedge-funds re-entered the market and bought swathes of oil futures. This obviously supported the oil price against further falls...
News
Simon – investing in our infrastructure
...since shipping moved from coal to oil. Government sponsored Navy oiling stations around the world provided physical impetus for the change from coal to oil burning ships of the line...
Insight
Are fuel buying patterns changing in the UK and Ireland domestic heating sectors?
...closely tracks global oil markets. Domestic demand is highly price-sensitive – domestic heating oil consumers typically purchase in bulk when prices are low. For example, low prices in 2020 (COVID-19)...
Insight
Security of oil supply in the fuel distribution sector
...of Russia’s role in the petroleum industry as the world’s second-largest crude oil producer and largest exporter of refined oil products. Closer to home, Russia supplies about 30% of Europe’s...
Analysis
Government announces £50m support package for heating oil users – but questions remain over scale and delivery
...to Wales. The announcement follows a sharp increase in heating oil prices linked to disruption in global oil markets, with kerosene prices rising significantly faster than crude. Around 1.7 million...
News
OPEC+ continues oil production cut in uncertain market
...into effect today, 5 December, in an already churning oil market. Speaking after yesterday’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+...
News
OMJ expands product range
The Oil Market Journal has greatly expanded its product offering to help clients to future proof their business for the low carbon economy. In addition to providing oil prices, OMJ...
News
James Smith 1925 – 2013
...Fuel Oil News back in 1977. A journalist with family roots in the energy industry, having started Knutsford Oil, he spotted a gap in the industry’s communication channel giving rise...
News
Could heating oil prices be frozen?
...impact on the cost of living very sharply into focus Economic and geopolitical factors have interacted with supply and demand issues in the global oil market generating the movement and...