Futures Markets
Saudi Aramco lowest prices on heavy crude
Saudi Arabia’s state oil company, Saudi Aramco, lowered its selling price on crude oil to the US, Europe, and Asia on Tuesday, with the largest price cuts coming on its heaviest, most difficult to refine oil.
The price on Arab Heavy was lowered by $2.75 per barrel to Europe and by $2.25 per barrel [...]
Oil commodities under pressure from uncertain supplies
Among pressure on various commodities markets, oil and gasoline prices seem to be especially worrisome to most investors, even though they have eased somewhat as European nations have offered to tap their reserves to ease the supply crunch in the US.
Still, it will take 10 days for European gasoline to reach the US [...]
Refinery worries continue after Katrina
As worries began to surface that shrinking gasoline inventories will make rationing necessary within a few weeks, gasoline prices went higher again on Thursday.
The problem, analysts say is not a shortage of crude oil, but a lack of refining capacity to turn the oil into gasoline with so many refineries either completely closed [...]
Canadian refineria put off maintenance to help supplies
Oil companies in Canada are thinking about putting off scheduled autumn maintenance work on their refineries and pipelines in order to help the United States overcome gasoline supply interruptions caused by Hurricane Katrina.
Postponing maintenance will allow Canadian refineries to keep working at capacity at a time when US refining capacity is crippled by [...]