Danish-flagged oil products tanker Torm Innovation will sail to Asia via the Suez Canal with its cargo due to the security situation in the southern Red Sea, the vessel’s owner Torm said on Friday. The Iran-aligned Houthis on Monday declared a naval blockade against Saudi Arabia, opening a potential new front against the United States in its war with Iran and raising the threat to global energy supplies and trade beyond the Gulf.
The Brazilian government decided to extend a subsidy for gasoline of 0.44 real per liter, the Finance Ministry said in a statement on Thursday, amid rising oil prices driven by the escalating conflict in the Middle East.
Trading in Eurobob barges and market activity
A total of 2,000 metric tons of Eurobob E5 barges traded on Argus, with Sahara selling to Gunvor.
4,000 metric tons of Eurobob E10 barges traded, with Trafigura selling to Varo.
Shell sold an E5 barge to Trafigura in the Platts window.
Gasoline refining margins rise as crude retreats
Northwest European gasoline refining margins rose by $1.81 to $32.67 a barrel on Friday, after crude oil retreated from the last session's $100-a-barrel mark, a level it hit for the first time since May amid concerns over potential shipping disruptions in the Middle East.
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