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Oil prices dip on concerns about possible return of Iranian supply |

U.S. West Texas Intermediate crude fell 57 cents, or 0.9%, to $65.64 a barrel.
Oil prices dipped on Thursday, as concern about demand in India and the potential for a rise in Iranian supplies offset optimism over the U.S and European summer driving season.
Brent fell 60 cents, or 0.9%, to $68.27 a barrel by 1121 GMT. U.S. West Texas Intermediate crude fell 57 cents, or 0.9%, to $65.64 a barrel.
“Despite supportive inventory data from the United States on Wednesday, crude oil remains stuck in a sideways environment with Brent trading between $65 to $70 per barrel,” said UBS oil analyst Giovanni Staunovo.
U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said, as a gradual lifting of coronavirus restrictions boosted road fuel demand. ....

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Japan refiners need 3 mths to resume Iran oil imports even with nuclear deal - PAJ head

Japan refiners need 3 mths to resume Iran oil imports even with nuclear deal - PAJ head
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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ENGINE: East of Suez Bunker Fuel Availability Outlook | Hellenic Shipping News Worldwide

ENGINE: East of Suez Bunker Fuel Availability Outlook
Lead times for HSFO380 stems are shorter in Singapore and longer in Zhoushan this week, while VLSFO availability has improved in Fujairah.
Lead times for HSFO380 stems have dropped to 10 days in Singapore, down from 12-15 days two weeks ago. The high sulphur fuel grade has become more available in the port amid lower demand, sources say.
VLSFO stems continue to require 6-8 days of lead time in Singapore. LSMGO lead times are also unchanged on the week at 4-5 days.
Singapore’s residual fuel oil stocks were drawn and slipped to 24.56 million bbls last week, Enterprise Singapore data showed. There is still considerably more fuel oil stored in the bunkering hub than in the first quarter of the year, following a big stockbuild in April. ....

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Weekend driving in U.S., China pave way for gasoline market recovery | Hellenic Shipping News Worldwide

Weekend driving in U.S., China pave way for gasoline market recovery | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

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Weekend driving in U.S., China pave way for gasoline market recovery

Weekend driving in U.S., China pave way for gasoline market recovery
Reuters
2 hrs ago
By Stephanie Kelly, Muyu Xu and Bozorgmehr Sharafedin
© Reuters/EDUARDO MUNOZ
Cars drive along the NJ 495 route while road work signs are seen on the roadside, in Union City
By Stephanie Kelly, Muyu Xu and Bozorgmehr Sharafedin
(Reuters) - Motorists taking weekend trips have helped boost gasoline demand in the United States, China and the United Kingdom, but the recovery has been crimped by rising coronavirus infection rates elsewhere, particularly India.
Road fuel use is crucial to the global oil market s recovery from more than a year of demand destruction during the pandemic. Fuel consumption worldwide is due to increase about 6% this year from 2020 to 97.7 million barrels per day, U.S. Energy Information Administration data forecast. ....

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