Analysis
Lowest fossil fuel generation on record in Europe
...from April, over 600 prices at or below zero have been observed so far in Iberia this year. Prices in other markets have also frequently been at or below zero...
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Market Report
The increasing impact of China’s economy on global oil demand
...oil prices sky-rocketing and yet for most of the year, the market has remained fairly stable. Plentiful oil supply has helped of course, but on the demand side, it has...
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...
Market Report
The impact of the Red Sea crisis and why expansion to the north could be catastrophic
...20 years, the Aden refinery was one of BP’s most profitable, taking cheap crude oil from inland Yemen and converting it into heavy fuel oil for shipping. However, in 1977...
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...
News
Heating oil theft falls
...influenced by the sustained fall in heating oil prices we have seen over recent times, meaning oil is not the expensive commodity it once was.” “The report findings also suggest...
News
Cheaper heating bills for oil households
...expensive than oil at £1,190 per annum. According to a new report from DECC published last month, the downward trend in oil prices is set to continue over the next...
News
Off grid homeowners benefit from low prices
UKIFDA says off grid homeowners across Great Britain are seeing prices of heating oil drop by up to 27% since the same time last year, according to the latest figures...
Opinion
OMJ anticipates oil market movements
Amidst a global lockdown resulting in less and less demand for oil, the oil market has been in turmoil. Ian Moore, director of the Oil Market Journal (OMJ) shares his...
Opinion
Ken’s Corner: Here Comes the Sun?
...lower oil levels in their tanks due to significantly higher prices in previous years, leading them to take advantage of the lower prices. There may also be a trend towards...
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...
Market Report
Portland Market Report – A spectacular own goal or a pivotal act of unknown agents?
...prices hit $40 per MMBtu (Metric Million British Thermal Units) – the oil equivalent of around $675 per barrel – and by the summer of 2022, gas was trading at...
News
OFT boosts transparency on heating oil prices
Following OFT action, GB Oils, the largest supplier of heating oil in the country, has changed its domestic heating oil contracts ensuring quoted prices do not increase from the time...
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
Stable oil prices mean a fall in Group revenue for J.R. Rix & Sons
...peak at £535.1m, was fuelled by a steep rise in crude oil prices brought about by the war in Ukraine. In 2023, oil prices dropped 17.9%, marking a return to...
Market Report
Battery raw materials – could they become the biggest obstacle to EV rollout?
...is normally found. In terms of the market, prices are typically stable, with supply currently surpassing demand. This position is expected to continue until at least 2030, and as a...
News
Fuel poverty could affect an extra 300,000 households this winter
...that energy prices rose by 7% in 2012, with the average energy bill at £1247. In the case of oil, at the start of December average prices are virtually unchanged...
News
Raw deal for rural renewables
...using oil for heating and hot water. If an existing oil-fired boiler was replaced with a biomass model then fuel bills would actually rise by £430 per year. Ground source...