Michael Kern

Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com, 

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Oil costs are set to publish a weekly acquire for the primary time in three weeks, though demand issues proceed to loom because the U.S.-China commerce warfare escalates.

Friday, April 18th, 2025 

Because the Western hemisphere wound down buying and selling exercise with the onset of the Easter holidays, crude oil markets have posted a formidable 7% week-on-week rise, with ICE Brent now again at $68 per barrel. New OPEC+ compensation quotas, tighter US sanctions on Iran, and comparatively upbeat March macro information have all boosted sentiment within the quick time period, though additional US-China escalation may upend this week’s restoration.

US Ratchets Up Stress on Iran. The Trump Administration issued new sanctions to curb Iran’s oil exports, together with the Shengxing Chemical teapot refinery based mostly in Shandong province for buying greater than $1 billion price of Iranian crude, the second Chinese language refiner to be hit with direct sanctions.

EIA Is Bleeding Folks After DOGE Test. The US Power Info Administration (EIA) is reported to have misplaced greater than 100 staff within the newest spherical of resignation gives put ahead by Elon Musk’s DOGE drive, probably shedding as much as 40% of the EIA’s 350 staff, placing information publications in danger.

Mauritania Exports Its First Ever Gasoline Cargo. UK power main BP (NYSE:BP) has lastly loaded its first LNG cargo – aboard the British Sponsor LNG provider – from the two.3 mtpa Higher Tortue Ahmeyim (GTA) facility offshore Mauritania, following a six-week delay to the export terminal’s commissioning.

Equinor’s US Wind Ambitions Dissipate. US Inside Secretary Doug Burgum mandated a halt to development of the Empire Wind offshore challenge developed by Norway’s state oil agency Equinor (NYSE:EQNR) off the New York Coast, citing inadequate environmental evaluation earlier than approval.

BlackRock Will get Able to Purchase Up Utilities. The US Federal Power Regulatory Fee allowed US funding agency BlackRock (NYSE:BLK) to personal main stakes of public utility corporations, a joint 2023 movement of 16 Republican-led states decrying its ESG investing calls for on utility corporations.

Bahrain Resumes LNG Imports. Regardless of being a producer of oil and sharing an enormous oil subject with Saudi Arabia, the Center Japanese kingdom of Bahrain is about to renew importing LNG after a five-year hiatus, with a 170,000 m³ cargo from the US Sabine Move LNG facility transferring in the direction of the Arab Gulf.    

Europe Has Now Solely Two Russian Patrons. The Czech Republic has formally halted its imports of Russian crude after the Transalpine pipeline (TAL) from Italy’s Trieste boosted throughput capability to 900,000 b/d, with Czech refiners now getting all of their oil wants from the seas.

Congo Faucets Blackwater Know-How. Erik Prince, the founder of personal army agency Blackwater, has allegedly signed an settlement with the Democratic Republic of Congo to safe the nation’s huge steel reserves and scale back cross-border smuggling of commodities amidst ongoing warfare in Japanese Congo.

Buying and selling Companies Eye Italian Refinery Sale. International commodity merchants Glencore (LON:GLEN) and Gunvor are contemplating shopping for Italy’s API downstream agency, working two refineries in Ancona and Trecate, totalling 200,000 b/d in capability, with Azerbaijan’s state oil agency SOCAR additionally eager to buy the asset.    

Pressure Majeure Saps Malaysia’s LNG Provide. Malaysia’s Petronas, operator of the enormous 29.3 mtpa Bintulu LNG export terminal, is experiencing manufacturing points as a result of boiler malfunction, setting a pricing ground for Asia’s JKM fuel futures which can be set to rebound from their 9-month low of $12 per mmBtu.

China Hits New Coal File. China posted one other all-time excessive in coal manufacturing because the March provide totals amounted to 440.6 million tonnes, up 9.6% from a yr in the past, worsening the nation’s coal oversupply and forcing energy utilities to chop their coal imports by 6% month-over-month in March.

Refiners Flee California Regulatory Hell. US refining big Valero Power (NYSE:VLO) filed its request to ‘idle, restructure or stop’ operations at its 170,000 b/d Benicia refinery subsequent to San Francisco by April 2026, marking the second refinery closure in California in lower than a yr amidst rising regulatory prices.

America’s Copper Dream Is On. Following years of stalling and controversy, the Trump administration is about to approve a land swap that might pave the way in which for Rio Tinto (NYSE:RIO) and its challenge associate BHP (NYSE:BHP) to launch one of many world’s largest copper mines, the Decision Copper challenge in Arizona.  

Ukraine Indicators Watered-Down Minerals Deal. Ukrainian authorities said that Kyiv and Washington have signed a memorandum of intent on creating mineral sources within the Japanese European nation, aiming for the institution of a Ukraine reconstruction funding fund, with a full deal anticipated subsequent week.

By Michael Kern for Oilprice.com

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