French supermajor TotalEnergies is taking advantage of high refining margins to buy up as much U.S. oil as possible, pushing WTI to its highest premium since November.
The trading arm of French supermajor TotalEnergies is gobbling up U.S. crude, pushing WTI crude for delivery at Cushing to its highest premium since November, Bloomberg hasDubbed Atlantic Trading and Marketing Inc., the company appears to be taking advantage of high refining margins created by tight supply and strong demand for fuel.
Another interesting aspect of these developments that the Bloomberg report notes is that demand for U.S. oil has jumped despite the fact it cannot replace the lost Saudi and Russian barrels. The latter are cutting heavier, more sour crude grades while WTI is light and sweet.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
There were bombs buried through the UK economy - and then Liz Truss sparked a credibility crisisAfter criticism of ex-PM Liz Truss by former Bank of England governor Mark Carney, Sky's Ed Conway writes that her main mistake was failing to see the unintended consequences of her growth plan.
Read more »
Man City anger in West Ham dressing room sparked Guardiola reactionManchester City manager Pep Guardiola was surprised to see what his players had to say when West Ham took the lead
Read more »
Man Utd vs Bayern sparked Fergie and Van Gaal disagreement after full-time rantManchester United come up against Bayern Munich on Wednesday as they begin their Champions League campaign.
Read more »
Glencore Loses Another Head Oil Trader After Massive PayoutsCommodity trader Glencore PLC lost yet another member of its oil trading division, with Guy Freshwater, head of crude oil trading in the United States, taking his leave.
Read more »
Panellists confirmed for review into unrest in LeicesterThe unrest was sparked following a cricket match between India and Pakistan in September last year.
Read more »
Panellists confirmed for review into unrest in LeicesterThe unrest was sparked following a cricket match between India and Pakistan in September last year.
Read more »