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FUEL.AU
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Diesel market structure weakens further amid longer supply worries

Asia's diesel market weakened due to lengthy regional supplies and squeezed arbitrage spreads. January spot sales by northeast Asia refiners were at wider discounts. Indonesia's Pertamina showed interest in high-sulphur gasoil. Refining margins hit three-month lows, and cash differentials softened. Jet fuel activity increased slightly, but export arbitrage to the U.S. was closed. India exported over 130,000 metric tons of jet fuel to Southeast Asia. ARA oil stocks rose 1%. Oil prices fell amid Russia-Ukraine peace prospects and Venezuelan tanker blockade concerns.

Reuters·
Reuters·

Unions threaten to cut King and Queen off from Christmas fuel supplies

Union bosses threaten to cut off fuel supplies to the Royal family at Sandringham over Christmas due to a strike by Certas Energy drivers. The strike, planned from Dec 22 to Jan 25, is over pay disputes. The Royal family may face a "cold Christmas" unless Certas offers a fair pay rise. The strike will also impact schools, military sites, and petrol stations. Sandringham's biomass boiler and solar farm may mitigate fuel shortages.

The telegraph·
The telegraph·

Iran raises fuel prices for heavy users to curb consumption, smuggling

Iran has increased the price of subsidized gasoline for heavy users to curb fuel consumption and smuggling. The new rate is 50,000 rials per litre for those consuming over 160 litres monthly, while others can buy 60 litres at 15,000 rials and an additional 100 litres at 30,000 rials. The move aims to manage demand without inciting public unrest, as seen in 2019 protests. Taxi quotas remain unchanged.

Reuters·
Reuters·

Trump administration unlikely to finalize 2026 biofuel quotas this year, sources say

The Trump administration is unlikely to finalize the 2026 biofuel-blending quotas this year, extending uncertainty for the oil and agricultural sectors. The EPA is still reviewing comments and has scheduled stakeholder meetings for next year. This delay complicates contracts, hedging, and investment decisions. The administration may seek a broader agreement between oil and agricultural interests, with the EPA proposing higher renewable fuel requirements for 2026 and 2027.

Reuters·
Reuters·

Diesel timespreads soften; some January refiner sales in discount

Asia's diesel timespreads are softening due to rising supply expectations, with January refiner sales at discounts. Refining margins declined for the third session, and trading activity is muted. Jet fuel markets are strong due to increased kerosene demand. U.S. crude inventories fell, while distillates rose. Oil prices eased amid Russia-Ukraine peace talks and a U.S. tanker seizure off Venezuela. Kazakhstan adjusts 2026 oil production plans due to maintenance and damage from a drone attack.

Reuters·
Reuters·
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