TOKYO: Japan's biggest refiner, Eneos Holdings Inc., has stopped buying crude oil from Russia in response to Moscow's invasion of Ukraine, Chairman Tsutomu Sugimori said on Tuesday. Eneos will continue to receive supplies until around April based on contracts signed before Russia launched its invasion on Feb. 24, with no issues on financial settlement and shipment, Sugimori
Japan said it started releasing March 10 a total 7.5 million barrels of oil from privately-held petroleum reserves as part of its contribution to the International Energy Agency’s coordinated release of a total 60 million barrels to calm crude oil prices rattled by Russia’s invasion of Ukraine. Japan is releasing 7.5 million barrels of crude .
Asian middle distillates are expected to be rangebound for the Feb. 21-25 trading week as tight supply continues to support the complex, while see-sawing geopolitical tensions between Russia and the West created uncertainty around the market outlook. At 10:00 am Singapore time (0200 GMT), the front-month April ICE Brent crude oil futures contract was at .
Russia s military buildup around Ukraine s border is stoking fears about its potential impact on the economy of import-reliant Japan amid speculation a Russian invasion may further pressure elevated crude oil and commodity prices.