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Crude oil

Marathon prepares Galveston Bay, Texas refinery units for restart

Marathon Petroleum Corp. began preparing on Monday to restart multiple units at its Galveston Bay oil refinery in Texas City, Texas, following a power outage earlier in the day.

Nigeria's NNPC seeks new oil-backed loan to boost finances, debt to gasoline suppliers has doubled

Nigeria's NNPC is in talks for another oil-backed loan to boost its finances and allow investment in its business, its chief executive said, as pressure mounts on the state-backed oil company the economy depends upon.

India's June fuel demand edges up 2.6%

India's fuel consumption rose by 2.6% year-on-year to 19.99 metric MMt in June from a year earlier.

ExxonMobil signals 2Q earnings hit from refining margins, natural gas prices

ExxonMobil said on Monday lower natural gas prices and refining margins are expected to hit the oil major's 2Q earnings.

Africa could compete in fuel exports, but massive investments are needed

Africa could become a refined fuel exporter, with at least two top-notch refineries due to come on stream within the next five years, but it must overcome its dire infrastructure and a funding crunch.

Peru, Ecuador to join efforts on security and oil integration

The presidents of Peru and Ecuador pledged to join efforts to fight transnational organized crime and also discussed new possibilities for oil processing.

As Nigeria's gasoline debt hits $6 B, some traders back out

Nigeria's debt to gasoline suppliers has surpassed $6 billion - doubling since early April - as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs.

EIA: U.S. crude stocks, gasoline and distillate inventories fall

U.S. crude stocks, gasoline and distillate inventories fell in the week ending June 28, the U.S. Energy Information Administration (EIA) said on Wednesday.

Oryx Group signs lease to operate Curacao's oil terminal

A unit of Hong Kong-headquartered energy firm Oryx Group has reached an agreement with Curacao's refinery to lease and operate storage facilities on the Caribbean island for 30 yr.

EIA: Increasing U.S. gasoline inventories are reducing gasoline prices

Weekly U.S. average gasoline prices have declined $0.19/gallon (gal) since the 2024 high on April 22, falling to $3.48/gal on July 1, $0.05/gal less than the price a year ago. Increasing gasoline inventories, relatively weak demand and oil prices below recent peaks are all contributing to falling gasoline prices, according to the U.S. Energy Information Administration (EIA).