Norway aims to establish five maritime transportation hydrogen hubs by 2025, along with up to two industrial projects with hydrogen production facilities, the government said in a road map published June 11.

NYMEX refined product futures settled sharply lower June 11 following reports that President Joe Biden's administration is weighing options to provide relief to US refiners from biofuel blending mandates.

Overall, the market is well supported with bullish signals on both the demand and the supply side, more than offsetting any bearish sentiment.

**Russian refinery outages reducing supply **Stronger gasoline demand affecting values

**Calls out catch 22 of low biojet volumes and low uptake **SAF key element to lower carbon sector for long-haul flights **Industry ripe for consolidation but unlikely for another two years

**Investing more than $2 bil a year in clean energy: Shell **Gazprom, Shell say energy transition inevitable

Fuel oil traders talking to S&P Global Platts have said that the low sulfur fuel oil market has been supported by seasonal utility demand from countries in the Med.

Availability of high sulfur fuel oil was heard to be satisfactory in the ARA region, as Russian quality M-100 fuel oil was heard heading to the US Gulf Coast to meet coker demand.

**Cost a key issue for ammonia **Small plants may emerge in 2025

**Tightening of 3.5%S FO at Fujairah **Supply overhang in the Mediterranean **Congestion leads to limited prompt availability at Montreal

**VLSFO bunker demand drop likely 30%-50% **Clear pathway for cruise industry recovery needed: CLIA

**Month-on-month demand in June set to improve **Transportation fuel demand to recover as COVID-19 eases

**IEA report lacks differentiated approach between developed and developing countries **Rapid phasing out of fossil fuels could destabilize energy supply, power grids

**Fuel oil imports rise 24.63% on week **Fuel oil exports fall 53% on week

Egypt's vast natural gas resource base will enable the country to produce hydrogen to meet future demand for the fuel both domestically and internationally, energy minister Tarek el-Molla said June 9.

Stocks of diesel and gasoil in the Amsterdam-Rotterdam-Antwerp, or ARA, hub fell 7.4% on the week to 2.135 million mt in the week to June 10, according to Insights Global data.

Crude throughputs at China's independent refineries in eastern Shandong province fell 1.3% month on month to 2.38 million b/d -- or 10.05 million mt -- in May, marking a 14-month low amid heavy maintenance despite refining margins having risen, according to data released from local energy information provider JLC on June 9.

Formosa is an occasional seller of fuel oil in the spot market, usually targeting sales of one cargo/month. Details of the company's last sell tender could not be ascertained.

While oil traders appeared ready June 10 to accept an instantaneous end to US sanctions on Iran's oil sector, analysts expect the Biden administration to take several weeks or months to actually remove them after the two countries agree to rejoin the 2015 nuclear deal.

Oil futures pushed to fresh multiyear highs June 10 as the market looked past large US product builds toward robust summer demand outlooks.