Brazil’s Petrobras to invest $3.6 billion to expand refinery and petrochemical complex

17 Sep 2024 Petrobras is the second-largest shareholder in Braskem, Brazil’s only petrochemical producer. The company will allocate 13 billion reais to the construction of a new plant in Itaboraí, focused on producing petrochemical derivatives, with another 7 billion reais dedicated to expanding a nearby refinery.

13 Sep 2024

Oil surged over 2% amid Gulf of Mexico production shutdowns

Oil prices rose sharply on Thursday, climbing more than 2% as the market evaluated the damage to US Gulf of Mexico oil output following the passage of Hurricane Francine.

13 Sep 2024

Dalian Commodity Exchange: 13 September 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 13 September 2024 settled as follows:

12 Sep 2024

Oil rebounded on concerns over production disruption in the US

The storm, which is barrelling toward Louisiana has forced companies to halt roughly 25% of their Gulf crude output. Oil giants such as Exxon Mobil and Shell have evacuated crews and suspended operations on platforms

12 Sep 2024

Freightos: Weekly Ocean Freight Index Update

Rates from Asia to the US East Coast have been more stable due to concerns about a potential port worker strike on 01 October but are expected to decline as the strike deadline passes.

12 Sep 2024

EIA: US commercial crude and gasoline stocks saw increases

The demand for gasoline and distillates is also weakening, as evidenced by a 2.3 million-barrel increase in gasoline inventories. Despite this rise, gasoline stocks are still about 1% below the five-year average for this time of year.