Economics
China's May fuel oil imports ease after hitting highest in a decade
China's fuel oil imports dipped in May after hitting a decade-high in April, while exports of low-sulfur marine fuels rose, General Administration of Customs data showed.
Oil falls on mixed Chinese demand picture
Oil prices fell in choppy trading as a clouded oil demand outlook outweighed the potential boost from a cut to China's benchmark lending rates.
Canada retools inflation baskets, more focus on food, gas prices
Canada's national statistics agency revealed new weights for the basket of goods and services in its Consumer Price Index, giving more prominence to changes in the prices of food and gasoline.
India oil firms could consider cutting petrol, diesel prices in next quarter
Indian fuel retailers could consider cutting petrol and diesel prices in the next quarter if the global situation remains stable, its oil minister Hardeep Singh Puri told broadcaster NDTV.
SASA Polyester Sanayi A.S. to build propane dehydrogenation unit In Turkey using Honeywell Oleflex Tech
Honeywell announced that SASA Polyester Sanayi A.Ş. will build the world’s largest Propane Dehydrogenation unit in Yumurtalık, Türkiye using the latest generation of Honeywell Oleflex technology.
BASF breaks ground on polyethylene plant at Zhanjiang Verbund site in China
BASF has broken ground on a polyethylene plant at its Verbund site in Zhanjiang, China.
Angola fuel hike protesters clash with police
Angolan police fired tear gas in the capital Luanda and other cities Benguela and Namibe as thousands of protesters took to the streets a week after clashes over a recent fuel hike killed at least five people.
China stored massive volume of crude oil in May, giving it options
China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.
Funds rotate positions from crude oil to distillates
Portfolio investors are rotating positions from crude oil to middle distillates – anticipating that the low level of distillate inventories will keep prices relatively firm even if the global economy and petroleum consumption slow.
EU parliament set to accept renewables deal with assurances on ammonia plants
European Union lawmakers plan to accept changes made by countries last week to the bloc's renewable energy law, to give assurances to France and others on potentially exempting ammonia plants, the parliament's lead negotiator said.
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