Latest news with #MoscowOilRefinery
Globe and Mail
19-03-2025
- Business
- Globe and Mail
Oil Gains as EIA Data Reveals Significant API Discrepancy
The May WTI (CLK25) trading session settled at 66.91 (+0.16) [+0.24%], a high of 67.43, a low of 66.09. Cash price is at 66.87 (-0.72), while open interest for CLK25 is 314,463. CLK25 settled above its 5 day (66.86) , below its 20 day (67.85), below its 50 day (70.62), below its 100 day (69.63), below its 200 day (70.57) and below its year-to date (70.70) moving averages. The COT report (Futures and Options Summary) as of 3/11/25 showed commercials with a net short position of -212,629 (a decrease in short positions by 2,801 from the previous week) and non-commercials who are net long +194,324 (a increase in long positions by 10,102 from the previous week) June'25 Brent Crude contract settled at 70.32 (+0.20) [+0.29%] If you would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now Today's U.S. Energy Information Administration weekly report showed U.S. crude oil inventories had a build of +1.7 million barrels (much lower than API's build of +4.593 million barrels estimate), to a total of 437 million barrels. Seasonally inventories are about 5% lower than their five-year average. U.S. crude oil imports averaged 5.4 million barrels per day last week, a decrease of -85,000 bdp compared to the week prior. U.S. oil refinery inputs averaged 15.7 million barrels per day, a -45,000 bpd decline compared to the prior week, refineries operated at 86.9% capacity last week. Total commercial petroleum inventories increased by +1.6 million barrels last week. Total petroleum products supplied over the last four-week period have averaged 20.6 million barrels per day, up +2.5% year-over-year. U.S. crude oil inventories have had builds 7 out of the last 8 weeks. Yesterday on Truth Social Trump said 'My phone conversation today with President Putin of Russia was a very good and productive one. We agreed to an immediate Ceasefire on all Energy and Infrastructure, with an understanding that we will be working quickly to have a Complete Ceasefire and, ultimately, an END to this very horrible War between Russia and Ukraine.' This comes after the General Staff of Ukraine's Armed Forces said a drone strike was carried out on the Moscow Oil Refinery on March 11th, the Moscow Oil Refinery is one of the largest refiners in Russia, processing up to 11 million metric tons of oil per year, covering 40 to 50 percent of Moscow's gasoline and diesel supplies. Today Ukraine agreed to support the agreement, which calls for both nations to refrain from targeting each other's energy infrastructure for 30-days. However, hours after Putin assured Trump Russia would halt attacks on Ukraine's energy infrastructure, Russian forces carried out an airstrike on energy facilities in the Ukrainian city of Slovyansk, according to local reports. Ceasefire negotiations are scheduled to resume this Sunday in Saudi Arabia, according to Steve Witkoff, U.S. President Trump's special envoy to the Middle East. Russia's Deputy Prime Minister Novak told Russian state media TASS that Russia's oil production this year is forecasted to be slightly lower compared to 2024, Russia anticipates producing ~515 million tons of oil this year. Russian crude flows in the four weeks to March 9th increased by 300,000 barrels per day, which was the largest four week gain since January 2023, per Reuters. China tapped into their crude stockpiles in the first two months of 2025, the first time doing such in 18 months, as refiners processed more crude while imports decreased, Reuters said citing official data. For the January-February months Chinese refineries averaged about 30,000 barrels per day more than the total crude available. On Sunday China's State Council announced plans to 'vigorously boost consumption' in what it dubbed a 'special action plan' to boost domestic consumption. China's National Bureau of Statistics said China's Industrial Production grew to 5.9% in the first two months of 2025 from a year ago, above economists 5.3% forecast, although Industrial Production declined from the 6.2% growth rate posted in December. President Trump said that a meeting with President Xi Jinping will happen in the 'not too distant future.' China's Shanghai 300 Index closed higher by +0.06%. The Trans Niger Pipeline suffered an explosion the local Nigerian government said, the pipeline transports roughly 450,000 barrels per day. Last Friday's Baker Hughes weekly rig count showed the number of U.S. oil rigs increased by +1, to a total of 487, year over year it is -23 rigs lower. Canada's oil rigs declined by -31, to a total of 139. The Dow, S&P and Nasdaq all closed higher. The Dollar Index closed higher by +0.22%, settling at 103.47. Price Thoughts - Yesterday's API private survey data came in nowhere close to today''s the EIA's official Department of Energy data, as the EIA showed significantly less of a build than API's forecast, providing support to oil prices. As for the geopolitical component, it seems the market is weighing possible Russian energy sanctions heavier than they are weighing what's happened over the past 5 days between Israel and Hamas, which could lead to a wider conflict, although in my opinion, what's happening elsewhere in the Middle East with both the Red Sea disruptions and new Iranian oil sanctions are bearish. WTI Crude oil broke above its $67 short-term resistance / long-term support line again, while Brent sustained above its $70.00 level. Again the headline trading is leading the market move, while the global supply/demand and weakening USD situation has set a ceiling and floor, in my opinion. $65 has been a major support figure over the last year. To the upside there's still resistance in the $67 handle, above that $70, above that $74.50. Longer term I think we are still leaning more into the $65-$75 range rather than the $70-$80 range for 2025 for WTI. If you would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now You can reach me at - JRinaudo@ Follow Walsh Trading on X - @Walsh_trading Jim Rinaudo 312-957-4731 Walsh Trading 311 S Wacker Suite 540 Chicago, IL 60606 Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member. Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. ('WTI') shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.
CNN
11-03-2025
- Politics
- CNN
Russia says it was hit by ‘massive' drone attack ahead of crucial talks between US and Ukraine
Russia said it was hit by a 'massive' Ukrainian drone attack overnight Tuesday, just hours before critical talks between officials from Washington and Kyiv began. Moscow's defense ministry said it had downed 343 drones it claimed Ukraine had fired at Russia, of which 91 had targeted the Moscow region. It also said six Ukrainian strike drones were intercepted near Russia's Kursk nuclear power plant. If the figure is confirmed, the aerial attacks would represent one of the largest on Russia since its invasion of Ukraine. Falling debris damaged buildings in Moscow, in what mayor Sergei Sobyanin said on Telegram was a 'most massive' attack. Three people were killed and at least six wounded in the Moscow region, local officials said. Regional Gov. Andrey Vorobyev said on Telegram that the falling debris started a fire in a parking lot that burned through more than 20 cars. Ukraine's Armed Forces said it targeted the production facilities of the Moscow Oil Refinery, and claimed 'civilian infrastructure facilities were damaged as a result of the Russian aggressor's air defense.' Video geolocated by CNN shows an explosion at an apartment building in the southern Moscow region. The attacks forced two Moscow airports to close for safety reasons, as well as two airports east of the city, according to state-run news agency TASS, adding that several flights to Moscow were redirected to other airports. Meanwhile, the Ukrainian Air Force said it had defended against Russian ballistic missile and drone attacks overnight. At least one person was killed and 18 injured, according to a CNN tally of figures released by various Ukrainian officials. The attacks come ahead of Tuesday's talks between the US and Ukrainian delegations in Saudi Arabia, which are now in progress. US Secretary of State Marco Rubio and National Security adviser Mike Waltz are meeting the Ukrainian national security adviser, foreign minister and defense minister. 'We will protect Ukrainian interests, have a clear vision of ending the war, and work effectively with our American partners,' Zelensky's Chief of Staff Andriy Yermak said earlier on Tuesday. Ahead of the meeting, Rubio said the US wanted to hear what concessions Ukraine would be willing to make in negotiations to end the war with Russia, and that the talks could determine whether Washington resumes providing military aid and full intelligence sharing with Kyiv. CNN previously reported that the US is still sharing intelligence with Ukraine that can help its troops defend themselves but has 'scaled back' sharing details that could be used for offensive targeting of Russian forces, according to two US defense officials. Fighting on the ground has intensified in recent weeks as the US-Ukraine relationship has soured, following the shouting match between US President Donald Trump and Ukrainian President Volodymyr Zelensky in the Oval Office. Russia launched a major aerial assault on Ukraine last Friday and Saturday that killed more than two dozen people, according to Ukrainian authorities; another series of attacks killed six more civilians from Sunday to Monday. Ukraine's presence in Russia's Kursk region is also shrinking sharply, with the Russian advance threatening Kyiv's sole territorial bargaining counter at a crucial time in the war. Ukraine's reported attack on Moscow Tuesday appeared to be larger than its previous largest assault on the Russian capital last November. Russia said it downed 34 Ukrainian drones during that attack, which injured a woman, forced the temporary closure of airspace and caused two houses to catch fire. Last September, Russia said it destroyed at least 20 Ukrainian drones near Moscow in an attack that killed at least one person and forced airport closures in the capital.
Yahoo
11-03-2025
- Politics
- Yahoo
Ukraine targets Russian oil facilities in Moscow, Oryol oblasts in mass strike overnight, military claims
Ukrainian forces successfully attacked the Moscow Oil Refinery and a Druzhba oil pipeline facility in Oryol Oblast overnight on March 11, the General Staff of Ukraine's Armed Forces reported. The statement comes after Russia claimed to have downed over 330 Ukrainian drones in the Moscow, Oryol, and eight other oblasts in a massive drone strike. The attack was carried out by Ukraine's Unmanned Systems Forces in cooperation with the Security Service of Ukraine (SBU) and military intelligence (HUR), the General Staff said. The operation "struck a number of Russian strategic objects, enabling armed aggression against Ukraine," the military said. Ukraine has repeatedly targeted industrial and military facilities in Russia's rear to undermine Moscow's ability to wage its war. Multiple hits were recorded at the Moscow Oil Refinery, which is capable of processing 11 million metric tons of oil per year and covers 40-50% of Moscow's gasoline and diesel supplies, according to the statement. Read also: Moscow targeted by largest drone strike in war, over 330 UAVs downed across Russia, authorities claim Explosions were also reported at the Stalnoy Kon fuel facility in Oryol Oblast. This facility is a key part of the Druzhba oil pipeline infrastructure and ensures oil supplies to the Ust-Luga port in Leningrad Oblast. The facility lies around 170 kilometers (100 miles) from the Russia-Ukraine border. Russia's Defense Ministry claimed its forces had intercepted a massive strike of 337 Ukrainian drones across multiple regions, including 91 over Moscow Oblast, 126 over Kursk Oblast, 38 over Bryansk Oblast, eight over Oryol Oblast, and others over the Belgorod, Ryazan, Kaluga, Lipetsk, Voronezh, and Nizhny Novgorod regions. This would mark Ukraine's most extensive drone strike against Moscow and Russia throughout the full-scale war. Russian officials did not report hits against any strategic targets but claimed that civilian sites were damaged across Moscow Oblast. Three people were allegedly killed by drone debris, while 18 were wounded, Moscow claims. The Kyiv Independent could not verify the claims. The Ukrainian military said it has "detailed information about the strategic facilities" enabling Russian aggression and "adheres to the norms of international humanitarian law and takes measures to protect the civilian population as much as possible." We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
