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15.09.26 - 04:09
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Indian Refineries Run At Up To 108% Capacity On Soaring Diesel Demand (ZeroHedge)
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Indian Refineries Run At Up To 108% Capacity On Soaring Diesel Demand
India's refineries have been running at an unprecedented 105% to 108% capacity utilization in the past six months as demand for diesel soars and international fuel markets tighten amid the ongoing Middle East crisis, OilPrice reports citing Reuters.
Refinery capacity utilization in the world's third-largest crude oil importer has been between 105% and 108% since the war began, a senior executive at Mangalore Refinery and Petrochemicals Limited (MRPL) said at the APPEC petroleum conference in Singapore on Wednesday.
“Most of our refiners are complex, can take a wide variety of crude from an API range of something like 16 to 45 or 48,” Nandakumar Pillai, a company director at MRPL, said at the event, as carried by Reuters.
MRPL operates a refinery with the capacity to process 300,000 barrels per day (bpd) on the coast of India's southern state of Karnataka. The refinery has a versatile design with complex secon...
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14.09.26 - 21:09
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Here′s What′s Happening Inside Convenience Stores As Gas And Diesel Spike (ZeroHedge)
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Here's What's Happening Inside Convenience Stores As Gas And Diesel Spike
We continue to track convenience store trends as an indicator of working-class sentiment, building on our coverage of the spending pullback that emerged early in the US-Iran conflict. That weakness persisted into late summer as August's fuel-price spike put further pressure on household budgets.
The Gulf conflict and a global refining squeeze pushed regular gasoline above $4.50 a gallon and diesel above $5.50 in August, leaving consumers with less room for discretionary purchases.
Jefferies food analyst Scott Marks published a note on Monday morning providing new insight into consumer trends at the convenience store level in August, as elevated fuel prices appeared to renew pressure on consumers.
Marks and his team found that visits fell 2% from a year earlier, a 1.25-percentage-point deterioration in the annual growth rate compared with July. The reversal largely erased July's improvement, he said, adding that high...
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14.09.26 - 18:00
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$6 Diesel Flashes 2008 Warning As Energy Shock, AI Slowdown Fears Fuel Perfect Storm (ZeroHedge)
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$6 Diesel Flashes 2008 Warning As Energy Shock, AI Slowdown Fears Fuel Perfect Storm
As of Monday morning, AAA's national average retail diesel price topped $6.23 a gallon as a global refining crisis sparked by the Russia-Ukraine war and compounded by the Gulf conflict sent the price of the most critical fuel powering the industrial world skyrocketing.
Bloomberg Intelligence senior commodity strategist Mike McGlone warned Monday that "$6 diesel echoes 2008 gasoline shock."
"Commodity spikes tend to sow the seeds of their own reversal, and diesel's first-ever surge above $6 a gallon may echo gasoline's 2008 experience. The US daily average gasoline price, at roughly $4.30 on Sept. 11, is only about 4% above its 2008 peak, which helped fuel the Great Recession," McGlone wrote in a note.
He added, "Elevated stock market valuations could add to the vulnerability."
On top of a fuel price shock, tech is sliding Monday morning amid fears of an AI slowdown (read the mo...
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14.09.26 - 16:36
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ROUNDUP 2: Benzinpreis auf Rekordhoch - Diesel kurz davor (DPA-AFX)
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(neu: Söder und Klingbeil)MÜNCHEN (dpa-AFX) - Tanken wird immer teurer: Übers Wochenende ist der Preis für Superbenzin der Sorte E10 auf ein neues Rekordhoch gestiegen. Im bundesweiten Tagesdurchschnitt des Sonntags kostete ein Liter 2,273 Euro, wie der ......
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