Member States of the International Maritime Organization (IMO) – the UN agency that regulates global shipping have called for an immediate end to ongoing attacks on ships and seafarers transiting through the Red Sea and Gulf of Aden. In a resolution adopted in London,...

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Refining cracks for high sulphur fuel oil posted weekly gains as of Friday, as the market retained strength against a backdrop of low onshore inventories at key storage hubs. Singapore’s prompt-month 380-cst HSFO crack closed at discounts of about $5.50 a barrel at...

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Expanded sanctions on Russia and enhanced pressure on countries that Moscow considers friendly are hurting Russian firms’ export revenues and creating oil payment issues, the Bank of Russia said. The United States has hit Russia with waves of Ukraine-related sanctions...

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Russia will use fuel export bans again as a way of regulating supply and demand, but for now the domestic market is well supplied, Deputy Prime Minister, Alexander Novak said on Friday. Russia this week suspended a partial gasoline export ban it had imposed from March...

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The oil and gas contracts market faced turbulence, with a notable quarter-on-quarter (QoQ) decline of 37% in disclosed contract value, dropping from $50.2 billion in Q4 2023 to $31.4 billion in Q1 2024. This decline was accompanied by a decrease in overall contract...

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India and Egypt were the top destinations for Russian seaborne fuel oil and Vacuum Gasoil (VGO) exports in April, traders said and LSEG data showed. In total, Russian fuel oil and VGO seaborne exports fell in April by 10% month-on-month to about 3.32 million tons, as...

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