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Hedge funds trim short oil positions as prices hit crisis point: Kemp

Zawya - 3/30/2020 1:00:00 PM
according to position records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission. In recent weeks, U.S. crude and middle distillate fuels such as jet fuel and diesel have been among the hardest hit parts of the petroleum market. In the course of this month, U.S. cash crude prices for oil delivered to the Cushing ...

UPDATE 1-Jet fuel refining margins turn negative as airlines ground fleets

Reuters - 3/24/2020 7:35:00 AM
Asian jet fuel refining margins have turned negative for the first time in over a decade as airlines continue to ground flights on international and domestic routes amid stringent travel restrictions to contain the coronavirus pandemic.

3 Top Energy Stocks at Bargain Prices

The Motley Fool - 3/27/2020 6:31:00 PM
Indeed, there are several stocks with strong fundamentals currently selling at bargain prices. Though stocks across sectors have fallen ... That means, Phillips 66 produce more distillate -- think diesel and jet fuel -- per barrel of crude oil it refines, as compared to its peers. Distillate margins are holding better compared to gasoline ...

Oil prices up a second session on Fed stimulus and optimism over fiscal package

MarketWatch - 3/24/2020 7:15:00 PM
Oil futures ended higher on Tuesday, extending their gain to a second straight session, a day after the Federal Reserve unveiled a historic round of

Glut of jet fuel is on brink of overwhelming global storage

Arabian Business - 3/23/2020 5:27:00 AM
More importantly, perhaps, December prices for jet fuel are at about $350 a ton ... a senior executive at one of the world’s biggest commodity traders estimated. If either figure is right, and if oil refineries fail to respond by dialing back output ...

U.S. diesel cash prices latest to slump from coronavirus fallout

Reuters - 3/23/2020 5:33:00 AM
U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products more affected by coronavirus fallout.

Oil price falls below $20 US a barrel, its lowest since 2002 - 3/30/2020 3:52:00 PM
The price of oil has hit its lowest level in almost 20 years and could ... "Demand for gasoline (no driving) and jet fuel (no flying) has now crashed," said Bjarne Schieldrop, chief commodities analyst at Norwegian research firm SEB. The International Energy Agency estimates global demand for oil is down by about five million barrels a day ...

Coronavirus pandemic: ATF price slashed by 12%; petrol,diesel prices unchanged

Business Today - 3/23/2020 8:56:00 AM
Jet fuel prices were slashed by 12 per cent after oil firms reverted back to fortnightly revisions to pass on the benefit of falling crude oil prices, but rates of petrol and diesel remained unchanged for the seventh straight day to adjust the hike in excise duty. State-owned oil firms cut aviation turbine fuel (ATF) price by Rs 6,687.75 per ...

Oil prices tumble as traders scramble for storage space

The Irish Times - 3/25/2020 1:49:00 PM
While diesel is less affected, jet-fuel consumption has “virtually gone” with 6 million barrels a day lost out of a normal level of 7.3 million barrels a day. Oil prices have buckled on foot of the coronavirus ... supply exceeding demand by 10 per cent or 10 million bpd. Commodity data firm Kpler estimates the industry is using around ...

COLUMN-Hedge funds trim short oil positions as prices hit crisis point: Kemp

YAHOO! - 3/30/2020 12:09:00 PM
Hedge funds began trimming short positions in petroleum last week as crude oil prices fell to crisis levels for some producers and refiners and traders started to anticipate shutdowns at oilfields and refineries.