(Oil Price) – China is on track to import record-high volumes of ethane from the United States this month as Chinese and other Asian petrochemicals producers rush to secure replacement feedstock amid plunging naphtha and liquefied petroleum gas (LPG) supply from the Middle East. China is expected to import as many as 800,000 tons of U.S. ethane in April, which
(Oil Price) – The European Union needs to suspend its planned ban on imports of Russian LNG, currently slated to take place on January 1, 2027, as the Middle East war has roiled energy markets, according to Claudio Descalzi, the chief executive of Italy’s oil and gas major Eni. “I think that it is necessary to suspend the ban that
(Investing)– Mexico’s sweeping new tariffs on imports from mostly Asian countries are set to take effect on Thursday, in a move that will largely align Mexico with the U.S. as the neighboring countries place significant barriers on Chinese imports. Approved by Congress in early December, the measure raises tariffs – most up to 35% – on countries without free trade
(BOE Report)– Commodities were pelted in 2025 by the whirlwind of tariffs and policies imposed by U.S. President Donald Trump, and while the storm may recede in 2026, the ripples will last some time. Trump’s efforts to remake global trade and his shifting geopolitical moves have boosted volatility in commodity markets, with prices being driven by daily headlines rather than
(Oil Price)– Falling U.S. energy sales in China and India failed to offset increases elsewhere in Asia as the Trump Administration’s trade policies have upended Asia’s energy imports. While Japan and South Korea have increased their imports of American crude oil, China has slashed U.S. crude and LNG imports, after halting purchases of LNG in February in response to the trade frictions
(Investing)– India’s oil imports from Russia are expected to drop to 800,000 barrels per day in December, down from 1.9 million barrels per day in November, according to a Bloomberg report on Monday. The significant reduction comes as Indian authorities have implemented tighter checks at ports and increased banking scrutiny to ensure compliance with Western sanctions on Russian oil. These
(BOE Report)– Tokyo Gas, Japan’s top city gas provider, plans to direct more than half of the 350 billion yen ($2.3 billion) it has earmarked for overseas investments over the next three years to the U.S. to drive growth, CEO Shinichi Sasayama said. In October, Tokyo Gas unveiled a plan to invest up to 1.3 trillion yen in the years
(Oil Price)– China’s crude oil imports last month remained elevated, with purchases from some countries hitting all-time highs, according to customs data cited by Reuters. Imports from the UAE, for instance, rose from 2.05 tons a year ago to 3.82 million tons last month, while purchases from Kuwait went up from 970,000 tons to 2.36 million tons, the data showed. Imports
(World Oil)– U.S. sanctions on Russia’s energy giants are sending shockwaves deep into the heart of China’s oil industry, where both state and private refiners face heightened pressure to keep up supplies while steering clear of penalties. As much as 20% of China’s crude imports — about 2 MMbpd in the first nine months of this year — come from
(Oil Price)– Reliance Industries, the top private refiner in India, has accelerated crude oil purchases from the Middle East, traders told Bloomberg on Tuesday, as the fate of Russian barrels going to India remains unclear. Reliance, which typically buys crude from the Middle East, has been more active than usual in procuring oil from the Gulf region in recent weeks. The refiner
(Oil Price)– India hasn’t requested refiners to cut imports of Russian crude oil and no cuts have been seen for the already placed nominations for loadings in November, Indian industry sources told Reuters on Friday, after the U.S. claimed refiners had started to reduce Russian supply. U.S.-Indian talks in Washington this week were productive and Indian refiners are already halving
(Oil Price)– The United States expects Japan to stop importing Russian energy, Treasury Secretary Scott Bessent said on X, following a meeting with Japan’s Finance Minister, Katsunobo Kato. “Minister Kato and I also discussed important issues pertaining to the U.S.-Japan economic relationship and the Administration’s expectation that Japan stop importing Russian energy,” Bessent wrote. Per a readout published by the Department
