Brazil's National Petroleum Agency approved independent producer Petro Rio's $100 million purchase of two blocks in the Campos Basin from BP Energy, clearing the way for the first oil to be pumped from the area in early 2024, according to Petro Rio.

Flows of ultra low sulfur diesel to Europe from the East of Suez is set to be about 1.59 million mt in June, with a further 480,000 mt to arrive in July so far, according to cFlow, S&P Global Platts trade-flow software.

Spot market differentials for August-loading barrels of sweet crude from Asia-Pacific are set to benefit from firm product crack spreads as well as a wide Brent/Dubai spread, which is making rival arbitrage barrels more expensive for Asian refiners.

Libyas National Oil Corporation and Frances TotalEnergies are working to find finance for the North Gialo and NC-98 oil field projects after development was suspended recently due to a lack of funding, Libyan oil officials said June 18.

Singapores commercial middle distillate stocks for the week ended June 16 climbed 15% from a 16-month low on lackluster demand.

Oil futures moved higher June 18 as the US National Hurricane Center issued a tropical storm warning for much of the central Gulf Coast.

A new wave of LNG importers borne out of Chinas gas market reforms is the new growth opportunity in Asias LNG market, but their limited procurement capability and prompt demand requirements mean they are active only in the spot market.

The refinery has not been selling products over the past month due to planned maintenance.