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UK bitumen imports increase in 1Q
UK bitumen imports increase in 1Q
London, 6 May (Argus) — UK bitumen imports increased year-on-year to 225,000t in the first quarter from 191,000t, Kpler data show. This rise came despite a spike in bitumen and crude oil values after the US-Iran war started on 28 February. Market participants attribute this to term supply deals struck at a fixed price by regional players before February, which offset the impact of rising crude prices. UK domestic bitumen prices, which were assessed by Argus at £345/t ($470/t) delivered on 27 February, increased to £535/t delivered by the end of April. But this increase was less than other key European markets including Germany, France and Italy, where price spikes were much sharper. The UK bitumen market is heavily reliant on imports. The country has just one bitumen-producing refinery — the 24,000 b/d Shell-Nynas joint venture at Eastham in northwest England. Last year, the country's bitumen throughput fell to to 322,000t, its lowest since 1995. After the start of the Iran war, regional market participants expressed concerns over tightened crude supply into key bitumen producing refineries that supply the UK. But flows from Shell's 404,000 b/d Pernis refinery — the UK's primary source of bitumen — remained strong in March and April. Pernis exported 59,000t in March to the UK and 57,000t in April, Kpler data show, significantly up from 16,000t and 8,000t in March and April last year. UK bitumen buyers have also reduced their reliance on north German refineries this year. The Brunsbuettel refinery only returned to full capacity in March after being hit by a fire in October. German first quarter exports to the UK more than halved from 26,000t to 11,000t, according to Kpler data. The tighter supply could change in the coming weeks. Venezuelan crude was recently unloaded in Nynas' 13,900 b/d Gothenburg refinery, although this could not be confirmed. The plant also imported roughly 60,000t of Venezuelan high-sulphur fuel oil (HSFO) on 25 April aboard the 112,119dwt Seacalm, the first such supply since 2019. The 6,712dwt Bitpower loaded a bitumen cargo in Gothenburg on 4 May, for delivery into a terminal in Dundee, UK, for 7 May. By Navneet Vyasan UK imports.pdf k t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Economic recovery lifts German diesel demand in 2025
Economic recovery lifts German diesel demand in 2025
Hamburg, 6 May (Argus) — German diesel demand rose in 2025 for the first time in six years, signalling a recovery in industrial activity after a prolonged period of economic weakness, latest data from the Federal Office for Economic Affairs and Export Control (Bafa) show. But the current conflict in the Middle East could yet reverse this nascent trend. The rise in diesel demand reflects a modest rebound in economic activity. After two consecutive years of recession, Germany's economy returned to growth last year, expanding by 0.2pc, according to the Federal Statistical Office (Destatis). The downturn had been triggered by Russia's war against Ukraine and the resulting sanctions on the Russian energy sector, which pushed energy prices sharply higher across Europe — and especially in Germany. Higher costs weighed heavily on domestic industry, with the chemicals sector particularly affected. As a result, Germany's gross domestic product (GDP) contracted by 0.9pc in 2023 and by 0.5pc in 2024 (see chart) . Prolonged economic weakness over this period also depressed diesel demand. Lower industrial output reduces transport needs for intermediate goods and finished products, cutting truck movements and, in turn, diesel consumption. This pattern is evident in Bafa fuel data. After the Covid-19 crisis caused a sharp fall in diesel demand in 2020 and 2021, consumption fell again in 2022 and declined further in 2023 and 2024. The increase recorded in 2025 therefore marks the first reversal in diesel demand since 2019 (see chart). It appears unlikely, however, that the recovery will be sustained this year in the wake of the US-Israeli war on Iran, which has driven a sharp rise in energy prices since late February. GDP in the first quarter of 2026 rose by 0.5pc year on year, according to Destatis, but the Federal Ministry for Economic Affairs and Climate Action (BMWE) says the performance was largely driven by positive momentum before the war started. Destatis' truck mileage index and data from the German Association of the Automotive Industry (VDA) both point to a marked deterioration in economic conditions in March. BMWE attributes the slowdown mainly to higher energy and raw material costs, compounded by disruptions to supply chains for intermediate goods. By Johannes Guhlke German Diesel inland deliveries German GDP year on year change Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE's Fujairah bunker sales rebound in April
UAE's Fujairah bunker sales rebound in April
Dubai, 6 May (Argus) — Sales of marine fuels at the UAE port of Fujairah, the world's fourth-largest bunkering port, located outside the strait of Hormuz, rose in April from their lowest ever monthly level in March, according to Argus data. Argus compiles daily data on deals from Fujairah suppliers, traders and buyers, capturing up to a quarter of the market, offering a snapshot of broader market trends. The volume of bunker sales in deals collected for assessment by Argus rose to 57,000t or 910 t/d last month from around 29,000t or 460 t/d in March. April's total is still the second lowest ever monthly level, according to records. For comparison, in February, Argus collected 162,000t or 2,700 t/d of deals data. Very-low sulphur fuel oil (VLSFO) accounted for around 37,000t or 1,760 t/d of sales in April, up from 21,000t or 1,000 t/d of sales in March. High-sulphur fuel oil (HSFO) sales rose on the month to 18,000t or 870 t/d from 7,000t or 336 t/d, while traded volumes of marine gasoil rose to 2,100t or 100 t/d from 855t or 40 t/d. Sales rebounded after US president Donald Trump announced an indefinite extension to the US-Iran ceasefire in early April, encouraging more vessels to call at the port for refuelling. But the precarious security and supply situation, as well as high war risk insurance premiums, have been forcing regular bunker buyers to seek refuelling in other regions such as India, Sri Lanka and African ports. A fall in marine fuel cargo imports into Fujairah and the suspension of local bunker fuels production have been tightening the availability. Some suppliers have run out of stocks, with marine fuels mostly sold from whatever is left in storage tanks and barges. A recent drone attack on the port's storage and loading facilities has raised fresh concerns. Early May deals data shows bunker buying activity to have fallen, with only two deals for around 2,000t of marine fuels submitted to Argus for assessment in the first three trading days. One trader described the demand and supply situation as "dead and dry". "We receive enquiries, but they get repeatedly postponed," a Fujairah supplier said. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia announces $7.7bn fuel security package
Australia announces $7.7bn fuel security package
Sydney, 6 May (Argus) — Australia's upcoming budget will include a A$10.7bn ($7.7bn) package aimed at strengthening national fuel and fertilizer security, including the creation of a permanent, government-owned fuel reserve of about 1bn litres (6.29mn bl) and an increase in the country's minimum stockholding obligation (MSO). The package is intended to support the increase of the MSO by about 10 days, as part of wider efforts to increase the government-owned stockpile of gasoil, jet fuel and gasoline to 50 days, the federal government said today. The government will consult on implementation of the reserve, including its ability to underwrite or purchase fuel, support storage infrastructure and trade stocks during severe or prolonged supply disruptions. Of the total funding, A$7.5bn will be allocated to establish a facility to increase fuel and fertilizer supply and storage through financial support mechanisms such as loans, equity, guarantees, insurance and price support. A further A$3.2bn will be used to fund the government-owned fuel reserve, which will focus on addressing regional stockouts. The increased MSO will be supported by A$34.7mn over four years for the ongoing management of Australia's fuel security. The budget will also include A$10mn to support feasibility studies into new or expanded fuel refining capacity, to be co-funded with state and territory governments. At least one proposal already has backing from both federal and state governments to assess the potential for additional refining capacity, prime minister Anthony Albanese said today. The government said the changes will be implemented progressively and supported by investment in new and refurbished fuel storage infrastructure. Further details of the Australian Fuel Security and Resilience package will be released with the federal budget next week. Australia held 33 days of gasoil, 43 days of gasoline and 28 days of jet fuel stocks as of 28 April, energy minister Chris Bowen said on 2 May. Australian fuel importers under the MSO are required to hold 32 days' supply of gasoil, and 27 days of gasoline and jet fuel, while local refiners, Viva Energy and Ampol, are required to hold 20 days of gasoil and 24 days of gasoline and jet fuel. A 20pc reduction to the MSO is currently in place, first implemented in March to allow more supply of gasoil and gasoline in response to panic buying-induced shortages. The centre right Coalition opposition said last week it would seek to double the country's mandated fuel stocks if it returns to government after the next federal election. An A$800mn energy security package would lift the MSO to 60 days by early 2028 and expand domestic storage capacity by at least 6.29mn bl, opposition leader Angus Taylor said on 28 April, adding that the policy would increase retail fuel prices by "about a cent a litre". Western Australia and Victoria have already established their own strategic gasoil reserves, while other states are considering similar measures. State governments have also begun amending legislation in anticipation of a worsening fuel outlook, with Western Australia amending its Fuel, Energy and Power Resources Act on 5 May and South Australia proposing legislation to expand its authority to impose fuel rationing on 4 May. Australia is currently operating under level two of its National Fuel Emergency Response framework, under which national fuel supply remains functional but localised disruptions are occurring. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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