27 October 2025: 16:30 GMT
Kuwait Petroleum Corp’s Al Zour refinery goes down and throws the gasoil market into a frenzy! KPC then began shooting out crude in several tenders, offloading it as it could no longer refine it all. Issuing two tenders for 800 kb cargoes shows the Kuwaitis are trying to offload crude they can no longer put to good use. Add in market murmurs of an outage of the hydrocracker (10 kb/d capacity) and reformer (13 kb/d) at HPCL’s Mumbai refinery and diesel cracks surged to their highest since February 2024 – both in Europe and Asia! Ans with the Middle East in focus, Iraq halted loadings after the fire at the Zubair oilfield.
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