http://www.hydrocarbonprocessing.com Hydrocarbon Processing http://hydrocarbonprocessing.com/news/2026/06/fragile-iran-deal-offers-oil-relief-but-hormuz-risks-remain/ Under the agreement announced late on Sunday, Iran and the U.S. agreed to lift their blockades on the Strait of Hormuz, through which roughly a fifth of global oil and LNG flowed before the war broke out on February 28. http://hydrocarbonprocessing.com/news/2026/06/us-refiners-can-still-absorb-more-venezuelan-oil-energy-secretary-wright-says/ Venezuela is sending about half of its total exports of 1.25 MMbpd to the U.S., with the remaining volumes going mainly to India and Europe. http://hydrocarbonprocessing.com/news/2026/06/from-corn-fields-to-cargo-ships-ethanol-gains-early-traction-as-marine-fuel/ http://hydrocarbonprocessing.com/news/2026/06/trans-mountain-pipeline-in-canada-hits-full-capacity-two-years-after-upgrade/ The uncertainty in global crude markets and the disruption to the Strait of Hormuz have increased demand for Canadian oil from Asian markets, but have also made it difficult to predict the pipeline's utilization rates beyond the short-term. http://hydrocarbonprocessing.com/news/2026/06/china-learns-to-live-on-less-fuel-to-the-relief-of-oil-markets/ Gasoline sales at Sinopec, which runs China's biggest network of petrol stations and is the world's largest refiner, dropped 8% on-year in April while diesel fell 6%. http://hydrocarbonprocessing.com/news/2026/06/opinion-hormuz-reopening-could-be-opec-s-undoing/ The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum Exporting Countries and moved the industry’s center of gravity away from the Middle East. http://hydrocarbonprocessing.com/news/2026/06/us-summer-driving-season-hits-as-gasoline-supplies-squeezed-tight/ Surging summer demand from American motorists has not stopped U.S. refiners from increasingly prioritizing lucrative diesel and jet fuel production to backfill global shortages caused by shipping disruptions at the Strait of Hormuz. http://hydrocarbonprocessing.com/news/2026/06/us-sanctions-cuban-state-oil-company-adding-obstacles-for-fuel-imports/ Washington has imposed sanctions on an array of Cuban entities and people, including the island nation's president, as it seeks to intensify pressure on Cuba's communist leaders. http://hydrocarbonprocessing.com/news/2026/06/eu-proposes-21st-package-of-sanctions-against-russia-targeting-banks-refiners-traders-lng/ The EU has proposed a 21st package of sanctions against Russia for its war in Ukraine, heavily targeting the country's banks and crypto networks as well as drone production, oil traders and refiners. http://hydrocarbonprocessing.com/news/2026/06/chinese-refiners-delay-projects-with-middle-east-oil-supply-disrupted/ The delays come as the Iran conflict has crunched refiners' margins, with the Middle East oil supply disruption driving up crude prices, while they face state fuel price caps. At the same time fuel demand has weakened due to electric vehicle growth.