Americas
Palm falls for second day on smaller-than-expected US biofuel mandate
Malaysian palm oil futures fell for a second day following news of a U.S. plan to implement a smaller biofuel mandate than it had initially proposed.
U.S. EPA finalizes biofuels blending mandates
The Biden administration has increased the amount of biofuels that oil refiners must blend into the nation's fuel mix over the next three years, but the plan includes lower mandates for corn-based ethanol than it has initially proposed, the administration announced.
Oil extends declines on China growth woes, firmer dollar
Oil prices weakened, extending falls to a third straight day, as the dollar strengthened on a U.S. housing market recovery while fears persisted that monetary stimulus may not be enough to revive growth in China.
U.S. boosts biofuel mandates over next 3 years, but biofuel groups feel shortchanged
The Biden administration increased the amount of biofuels that oil refiners must blend into the nation's fuel mix over the next three years, but the plan has angered the biofuel industry, which says mandates for corn-based ethanol and biodiesel are not high enough.
Canada retools inflation baskets, more focus on food, gas prices
Canada's national statistics agency revealed new weights for the basket of goods and services in its Consumer Price Index, giving more prominence to changes in the prices of food and gasoline.
SASA Polyester Sanayi A.S. to build propane dehydrogenation unit In Turkey using Honeywell Oleflex Tech
Honeywell announced that SASA Polyester Sanayi A.Ş. will build the world’s largest Propane Dehydrogenation unit in Yumurtalık, Türkiye using the latest generation of Honeywell Oleflex technology.
Another fire breaks out at Calcasieu Refinery
A fire broke out at the Calcasieu Refining Company in Louisiana while crews were working on dismantling an old tank that had previously caught fire.
Funds rotate positions from crude oil to distillates
Portfolio investors are rotating positions from crude oil to middle distillates – anticipating that the low level of distillate inventories will keep prices relatively firm even if the global economy and petroleum consumption slow.
Iran's oil exports hit 5-year highs as U.S. holds nuclear talks
Iran's crude exports and oil output have hit new highs in 2023 despite U.S. sanctions, according to consultants, shipping data and a source familiar with the matter, adding to global supply when other producers are limiting output.
South Korea jet fuel exports to U.S. set to rise to near 2-year high in June
South Korean jet fuel exports to the United States in June are headed for a near two-year high as oil traders cash in on stronger U.S. demand as Asia's aviation sector is still recovering, industry sources said.
- OCI Global completes $1.9-B sale of OCI Methanol to Methanex Corporation 6/30
- Partnership for sustainability: Pekutherm and POLYVANTIS launch circular economy initiative 6/30
- Lloyd’s Register signs strategic collaboration with DAI Infrastruktur for green ammonia Project Ra 6/30
- Alleima expands product portfolio for the urea industry with SAF™ 2906 6/30
- UK's Lindsey oil refinery insolvent, 420 jobs at risk 6/30
- Irving Oil reports normal operations after fire at Saint John refinery (Canada) 6/30
