Reading Time: < 1 minute Rack Petroleum Ltd.’s HedgeHog app allows users to confirm a guaranteed price for diesel for future delivery up to two years into the future.
Fuel hedging platform wins AIM innovation award
Will oil hit US$100? It already did in some markets
Saudi Arabia, Russia 'in solid control'
Reading Time: < 1 minute London | Reuters –– With oil investors and traders focused on an oil-price rally that has come close to US$100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply. The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to […] Read more
U.S. EPA denies nearly all biofuel blending exemption petitions
Refineries didn't prove hardship, agency said
Reading Time: 2 minutes New York | Reuters — U.S. President Joe Biden’s administration on Friday denied almost all outstanding petitions from oil refiners asking to be exempted from mandates that require them to mix biofuels into their fuel. The Environmental Protection Agency (EPA), which has the authority to issue the exemptions, denied 26 petitions from 15 small refineries […] Read more
Bunge expects U.S. renewable diesel capacity of about five billion gallons by 2024
Reading Time: 2 minutes Chicago | Reuters — U.S. renewable diesel production capacity will more than double to about five billion gallons by 2024 from about two billion gallons, Bunge CEO Greg Heckman said on Tuesday. The agricultural commodities trader has not altered its own capacity plans due to a U.S. government proposal on biofuels announced last week, Heckman […] Read more
Suncor to keep its Petro-Canada retail fuel business
Reading Time: 2 minutes Reuters — Suncor Energy on Tuesday said it will retain its Petro-Canada gas station retail business following a review the company initiated earlier this year under pressure from activist investor Elliott Investment Management. Suncor replaced its CEO in July and agreed to review its retail fuel unit by the end of this year after Elliott […] Read more
Haiti gang blockade causing catastrophic hunger, U.N. says
Situation "close to breaking point," WFP rep says
Reading Time: 2 minutes Miami | Reuters — Haitians are experiencing catastrophic hunger because of gangsters blockading a major fuel terminal, U.N. officials said on Friday, with more than four million facing acute food insecurity. A coalition of gangs has prevented the distribution of diesel and gasoline for over a month to protest a plan to cut fuel subsidies. […] Read more
Rajapaksa dynasty draws to humiliating close in Sri Lanka
Food shortages, fertilizer ban among flashpoints
Reading Time: 2 minutes Colombo | Reuters — The Rajapaksa dynasty dominated Sri Lankan politics until April when street protests against fuel and food shortages began to slip out of control. President Gotabaya Rajapaksa fled the country early on Wednesday, leaving no one from the once-illustrious family in a position of power. The president vowed last month to stay […] Read more
‘Petro-plectic’ anger rises toward fuel prices
Fuel refiners seen booking 'epic' revenues
Reading Time: 2 minutes MarketsFarm — Fuel prices are very likely to continue to increase with summer approaching, according to Tom Kloza, the Florida-based global head of energy analysis for Oil Price Information Services. “I wish I could say there’s a light at the end of the tunnel, but I would say right now, it’s just a flicker,” he […] Read more
EU offers farmers aid, more land to grow due to Ukraine war
Reading Time: 2 minutes Brussels | Reuters — The European Union will distribute 500 million euros (C$692 million) to help farmers and allow them to grow crops on fallow land to mitigate food price spikes and potential shortages resulting from Russia’s war in Ukraine. Published on Wednesday, the proposals by the EU’s executive European Commission also include assistance to […] Read more
Fuel prices may remain high beyond Russian invasion, expert says
Reading Time: 2 minutes MarketsFarm — The decision by the U.S. to halt the import of Russian petroleum products due to the country’s invasion of Ukraine created sticker shock at the pumps in North America — but an end to that invasion would not necessarily mean an end to high fuel prices. On March 15, the average price of […] Read more
A message from April Stewart, Country Guide's Associate Editor
