Oil Markets

The global LPG divide: Why Europe and Asia are moving in opposite directions

European and Asian LPG fundamentals have sharply diverged following the disruption to flows through the Strait of Hormuz in late February and early March. The supply shock sent Asian propane prices sharply higher, tightened availability, and disrupted petrochemical demand. Meanwhile, the European market, especially the Amsterdam-Rotterdam-Antwerp hub, has remained comparatively well supplied and under pressure. To examine the latest trends in this segment, S&P Global Energy's Gary Clark, the associate director of the EMEA clean refined price reporting team, is joined by Senior Price Reporter Barbara Fernandez-Pita to help explain how record US exports, surging freight costs, a closed arbitrage window, and the end of the winter heating season have helped insulate European propane from the worst of the global squeeze.

US exports hit record high as Middle East war blocks Persian Gulf supply

US crude exports have hit record high in April as buyers looked far afield to replace barrels that have been blocked by the Middle East war and the effective closure of the Strait of Hormuz. The surge in demand has been a boon for US suppliers, and there has been a scramble to overcome infrastructure constraints in order to push exports even higher. With Persian Gulf supply unlikely to return at pre-war levels anytime soon, are markets seeing a temporary dislocation or a more durable shift in global crude flows? In this episode of Platts Oil Markets Podcast by S&P Global Energy, Oil Futures editor Chris van Moessner is joined by Americas oil news editors Binish Azhar and Ashok Dutta, and crude oil price reporter Lucas Casas to discuss what is driving these record exports, their near-term outlook, and how the US midstream and upstream business segments are reacting to this new paradigm.

Bonus episode: Hedging through the storm - can India's Dated Brent contract reshape risk landscape?

India's crude imports are climbing, not just in volume, but in complexity. As the country widens its pool of suppliers, it is also exposing itself to a more fragmented pricing landscape. But here is the challenge -- in a world where geopolitical conflicts and supply shocks can send prices soaring overnight, how do you protect the energy sector and the economy from extreme volatility? In this bonus episode of Platts Oil Markets Podcast by S&P Global Energy, Asia Energy Editor Sambit Mohanty is joined by Gouri Shankar, vice president for product strategy at the National Stock Exchange, Pulkit Agarwal, head of India Content, and John Morley, global head of crude oil pricing, to discuss the need for sophisticated benchmarks in managing risk, and what the latest NSE crude oil contract based on a physical price benchmark -- Platts Dated Brent -- can offer to Indian market participants.

European middle distillate flows shift on Persian Gulf supply constraints

With more than two months having passed since the beginning of the war in the Middle East, a conflict that has tightened refined oil product flows through the Strait of Hormuz, market participants have been grappling with major upheaval in middle distillate trade routes as Europe seeks to replace lost Middle East supply. To examine the latest trends in this vital segment, S&P Global Energy's Emma Kettley, associate director, price reporting, is joined by reporters David Neef and Patrick McAllister to unpack how Europe has adapted to the disruptions to its key supply source in the Persian Gulf.

Service company earnings: Infrastructure shifts, e-fleets, and Latin American growth

In this episode of the Oil Markets Podcast from S&P Global Energy, host Jeff Mower dives into first-quarter earnings from major oil and gas service companies, including SLB, Baker Hughes, and Halliburton. Joined by S&P Global editors Binish Azhar, Sheky Espejo, and J. Robinson, the panel explores the sector's strategic pivot toward energy infrastructure and generation amid geopolitical uncertainties. Why are US shale producers still focused on completions despite high oil prices? How are surging diesel prices and record-low natural gas prices at the Waha hub driving the industry shift from diesel-powered frack spreads to natural gas and electric fleets? How is next-generation fracking technology being deployed in Argentina's Vaca Muerta? Are Pemex payments stabilizing in Mexico? Is there reason for cautious optimism surrounding Venezuela's future production goals? Join us for a wide-ranging conversation on these topics and more.