Oil Markets

Could a shift in Congress reshape oil policy or just intensify the scrutiny? The US midterm elections are just around the corner, with all 435 House seats and 35 Senate seats on the ballot Nov. 3. At stake is whether Republicans retain control of Congress or Democrats win one or both chambers and gain new leverage over the Trump administration's energy agenda. On the Oil Markets Podcast by S&P Glo...

The resumption of Russian diesel exports could bring some relief to a constrained European market, but uncertainty remains high. This episode unpacks how the lifting of Russia's diesel export ban and the return of supply could reshape market balances.   Join S&P Global Energy's Gary Clark, associate director, price reporting, and reporters Sophia Aung and Elza Turner as they dissect what is keepin...

India is entering a pivotal phase in the development of its upstream oil and gas sector, with the government seeking to unlock the potential of deepwater and ultra-deepwater resources amid rising energy demand. Recent reforms have focused on improving access to acreage, strengthening fiscal and contractual terms, streamlining regulations, and reducing the risks associated with frontier exploration...

Latin America is becoming a critical engine of global oil supply growth. In this episode of the Platts Oil Markets Podcast, Jeff Mower is joined by Washington-based policy editor Kate Winston and Mexico editor Sheky Espejo to examine Venezuela's reopening to international energy companies, Brazil's record production and exploration push, and why the region is attracting renewed investment. As conc...

Prices for Russian crude strengthened in September, amid lower domestic production and Middle East supply concerns while Russia's refining sector continues to face major challenges as a result of Ukrainian attacks. Russia has extended its diesel export ban and the US is considering introducing similar restrictions, driving prices higher and raising the risk of diesel deficits in the coming months....

Asia's energy markets are navigating a period defined by heightened geopolitical risk, vulnerable maritime chokepoints, shifting trade flows, and growing uncertainty over supply security. With APPEC 2026 concluding earlier in September, discussions at the event highlighted how refiners, traders, shipowners, and policymakers are reassessing sourcing strategies, inventories, freight exposure, compli...

Distillate prices are rising as escalating tensions in the Middle East and Russia inject fresh uncertainty into global energy markets. Join S&P Global Energy's Gary Clark, associate director, price reporting, alongside reporters Sophia Aung and Aruni Sunil, as they examine how geopolitical risks, supply disruptions, and a tightening physical market are underpinning a bullish outlook for distillate...

Diesel markets are entering their most stressful stretch of the year as record prices, thin inventories and disrupted supply flows collide across the Americas. In this episode of the Oil Markets Podcast, Jeff Mower speaks with Janet McGurty , Kauanna Navarro and Carlos Castillo about how constraints in Russia and the Middle East have pushed US Gulf Coast refiners into the role of global swing supp...

Middle East export disruptions, soaring gasoline demand and shifting trade flows have reshaped global naphtha markets over the past six months. Join Gary Clark , associate director, price reporting, and Barbara Fernandez-Pita , senior price reporter, as they break down what prompted the multiyear highs in gasoline blending demand for naphtha, the widening East-West arbitrage, propane's growing adv...

Energy markets are once again being tested by geopolitics. With fragile shipping routes and shifting trade patterns, energy security has returned to the top of the agenda. As the industry prepares for APPEC 2026, hosted by S&P Global Energy, the focus is no longer just on market access but on securing reliable, long-term energy supplies. Asia remains the center of gravity for global energy demand,...

As summer driving reaches its seasonal peak, European gasoline production faces challenging chokepoints amid broader macro trends reshaping supply and demand fundamentals. In this episode, S&P Global Energy's Emma Kettley is joined by Friedrich Gutsche and Rebeka Foley to discuss how restrictive domestic flows have weighed on gasoline blending economics, adding pressure on the regional supply bala...

North American oil companies delivered a striking second-quarter earnings season. Upstream producers raised output guidance while maintaining capital discipline, arguing that efficiency gains, not higher spending, are driving growth. Meanwhile, refiners benefited from some of the strongest margins since 2022, fueled by robust diesel and jet fuel demand, lower Chinese exports, refinery outages in R...

The Rhine River is one of Europe's most important trade arteries, carrying diesel, gasoil, and other refined products from the Amsterdam-Rotterdam-Antwerp hub to consumers across Germany, Switzerland, and beyond. As water levels fall toward historic lows, barges are carrying reduced loads, freight costs are surging, and supply chains are coming under increasing pressure. With Rhine water levels ap...

Diesel prices have soared, driven by supply constraints through the Strait of Hormuz and by the ongoing war between Russia and Ukraine. Ukraine has been able to knock out a sizable percentage of Russia's refining capacity, shrinking global supplies. Where does that leave Brazil, which has been dependent on diesel imports from Russia? How do Brazil's price subsidies impact diesel supplies? What rol...

Renewed tensions surrounding the Strait of Hormuz have refocused attention on supply security, freight costs and export flows across Asian refined products markets. While demand for gasoline, gasoil, jet fuel and naphtha remained broadly resilient, market participants are once again assessing the risk of disruptions to Middle Eastern exports and their impact on regional trade flows.  In this episo...

The announcement of a Russian ban on diesel exports following supply shortages at gas stations across the country has spurred cracks to widen significantly in the European market at a time when product markets continue to face uncertainty over the recovery of supply from the Persian Gulf and crude markets face pressure from low Chinese demand. In this episode, Gary Clark , associate director, pric...

Aside from a handful of high-profile deals, merger and acquisition activity in the US oil and gas sector has been tepid in recent months even as war in the Middle East pushed oil prices to multi-year highs. In this episode, S&P Global Energy's  Christopher van Moessner , editor, oil futures, is joined by Americas news editor Ashok Dutta and senior reporter Eamonn Brennan to discuss the outlook for...

The effective closure of the Strait of Hormuz following escalating tensions in the Middle East sent European fuel oil imports from the Gulf plummeting 95% in the first half of 2026. Supply chains faced unprecedented disruption while risk premiums skyrocketed across the bunker market. In this episode, S&P Global Energy's Emma Kettley, associate director, price reporting, is joined by reporters Jose...

Asia's energy security has always rested on a difficult bargain -- deep reliance on Middle Eastern crude in exchange for scale, proximity and established commercial relationships. The recent conflict tested that bargain in real time, forcing refiners, traders and governments to reroute supply, reassess risk and confront the true cost of dependence. As risk premiums fade and markets move from crisi...

As summer travel is getting into its stride, European supply chains for diesel and gasoline are geared to meet the seasonal uptick in road fuel demand. However, with production operating near capacity, demand may outpace available supply, possibly altering consumption patterns and prompting end-users to switch to alternative modes of transport. In this episode, Gary Clark, Friedrich Gutsche, Sophi...

With Strait of Hormuz constraints reshaping global supply routes, Latin America is stepping into the spotlight. In this episode, Jeff Mower , Kate Winston , Sheky Espejo and Charles Newbery unpack how producers across the region are positioned for upstream expansion. What are producers learning from Argentina's drive to boost Vaca Muerta oil output and exports? What does Colombia's upcoming electi...

The global crude oil market continues to see disrupted exports from the Middle East. Yet, with soft Asian demand and the release of strategic reserves around the world, Europe now finds itself struggling to place excess crude oil barrels ahead of peak summer demand.   To examine the latest development in European crude oil balances, S&P Global Energy's Gary Clark, associate director, is joined by...

The disruption to flows through the Strait of Hormuz is rapidly reshaping the Asian jet fuel market at a critical juncture, just as seasonal demand accelerates ahead of the peak summer travel period. As one of the world's most important energy chokepoints, the Strait has long facilitated the movement of significant volumes of Middle Eastern jet fuel. The loss of these flows is now forcing market p...

European and Asian LPG fundamentals have sharply diverged following the disruption to flows through the Strait of Hormuz in late February and early March. The supply shock sent Asian propane prices sharply higher, tightened availability, and disrupted petrochemical demand. Meanwhile, the European market, especially the Amsterdam-Rotterdam-Antwerp hub, has remained comparatively well supplied and u...

US crude exports have hit record high in April as buyers looked far afield to replace barrels that have been blocked by the Middle East war and the effective closure of the Strait of Hormuz. The surge in demand has been a boon for US suppliers, and there has been a scramble to overcome infrastructure constraints in order to push exports even higher. With Persian Gulf supply unlikely to return at p...