Trading firm Trafigura has sold a 700,000 bl cargo of US light sweet WTI to Israel, the third US crude cargo to be shipped transatlantic since Washington lifted crude export restrictions in December. Only a handful of US cargoes have moved to foreign markets since the ban was lifted because of a combination of infrastructure constraints and poor arbitrage economics. But WTI's widening discount to Ice Brent in recent weeks has made such deals more likely. Trafigura says shipping WTI to Europe and Israel for March delivery is profitable, and shipbrokers say the firm is looking to charter more vessels to take to Israel.
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Al Taweelah smelter repair to take up to a year: EGA
Al Taweelah smelter repair to take up to a year: EGA
London, 3 April (Argus) — Emirates Global Aluminium (EGA) said repairs at its Al Taweelah smelter may take up to a year after the facility sustained significant damage during an Iranian missile and drone attack on the Khalifa Economic Zone Abu Dhabi on 28 March. "To resume operations at the smelter, EGA must repair infrastructure damage and progressively restore each of the reduction cells," the company said in an update published on 3 April. "Early indications are that a complete restoration of primary aluminium production could take up to 12 months." Iran hit the facility on 28 March , injuring several employees. Iranian steelmakers Khouzestan Steel (KhSC) and Mobarakeh Steel were struck by air raids attributed to the US and Israel on 27 March , damaging storage facilities and power infrastructure, officials said. Iran was preparing retaliatory strikes on Gulf steel producers, according to the Tasnim news agency, which is linked to the Islamic Revolutionary Guard Corps. Al Taweelah produced 1.6mn t of cast metal in 2025, according to EGA. EGA is a major bauxite importer, bringing in 11.15mn t in 2025 and 10.65mn t in 2024, according to Kpler data, and is a significant Capesize charterer. Some vessels destined for Al Taweelah are currently delayed because of the de facto closure of the strait of Hormuz. The Amarantos , which loaded in Takoradi, Ghana, on 20 February, has been idling between Mozambique and Madagascar for several days and has since been redirected to Kandla, India, Kpler data show. The Clivia Oldendorff , carrying Ghanaian bauxite, remains idling between Mozambique and Madagascar, according to Kpler. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US fighter jet shot down over Iran: Tasnim
US fighter jet shot down over Iran: Tasnim
Washington, 3 April (Argus) — Iran's military has shot down a US F-15 fighter jet over Iran, Iranian news agency Tasnim said on Friday. In a development that could spark a major escalation of the US-Israeli war with Iran and upend the White House's timetable for the conflict, the Iranian Army's Air Defense Unit shot down the fighter jet, Tasnim reported. The fate of the F-15 crew members was not immediately clear. In a conflicting report, Iranian state news agency Irna posted images on X of what it described as an "F-35 fighter jet" that it said had been destroyed by the Islamic Revolutionary Guard Corps. Neither the White House nor US Central Command responded immediately to enquiries, while the Pentagon referred questions to Central Command. President Donald Trump has not posted on his social media platform about the incident. But at around 3:30pm ET he did post, "KEEP THE OIL, ANYONE?" And earlier in the day, Trump posted: "With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE. IT WOULD BE A 'GUSHER' FOR THE WORLD???" During his prime time address to the US public about the war on 1 April, Trump claimed that the Iranians "have no anti-aircraft equipment", adding: "Their radar is 100pc annihilated. We are unstoppable as a military force." A second US war plane, an A-10 Warthog attack plane, crashed near the strait of Hormuz about the same time as the F-15, the New York Times reported on Friday. By David Ivanovich Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iranian crude cargo changes course from India to China
Iranian crude cargo changes course from India to China
Dubai, 3 April (Argus) — A vessel that appeared to be carrying the first Iranian crude cargo to India for close to seven years has now changed course, and is signaling its destination as China, ship-tracking data show. The Aframax Ping Shun , carrying about 600,000 bl of Iranian crude, is now shown heading for Dongying in China after previously signalling its destination as Vadinar in India, according to data from Kpler and Vortexa . The reroute brings the shipment back into Iran's usual export pattern, with China emerging as the main destination for Tehran's heavily sanctioned and discounted crude in recent years. Vortexa data show China took more than 90pc of Iran's crude exports in 2025. The cargo's final destination could still change. Ping Shun , which was sanctioned by the US Treasury's Office of Foreign Assets Control (Ofac) in 2025, is on a time charter to Iran's state-owned oil firm NIOC, ship brokers said. The vessel loaded at Kharg Island in early March. The cargo initially appeared to open a narrow window for India's first known Iranian crude delivery since May 2019, when US sanctions waivers that had allowed limited imports were withdrawn. India had previously supported the trade through alternative payment and marine insurance arrangements. A temporary US waiver issued on 21 March for Iranian crude loaded on or before 20 March and discharged by 19 April briefly revived that possibility. But the waiver did not amount to broader sanctions relief, and market participants said trades involving sanctioned vessels still face heavy compliance scrutiny. Some said payment-related hurdles may also have prompted the reroute. The voyage comes as the US-Israel war with Iran enters its second month with no clear resolution in sight, raising concerns over prolonged supply disruption. US President Donald Trump said on Wednesday that Washington would hit Iran "extremely hard" over the next two to three weeks. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Kuwait's Mina al-Ahmadi refinery hit again by drones
Kuwait's Mina al-Ahmadi refinery hit again by drones
Dubai, 3 April (Argus) — Kuwait's 346,000 b/d Mina al Ahmadi refinery came under another drone attack early on Friday, causing fires in several operational units, state-owned Kuwait Petroleum (KPC) said. It was the third strike on the refinery in just over two weeks. KPC did not specify the extent of the damage or whether refinery operations were affected, but said it was working to maintain operational continuity. No injuries were reported. The refinery was previously hit in the early hours of 19 March, and again early on 20 March, which saw KPC shut a number of affected units as a precaution . Another Kuwaiti refinery, the 454,000 b/d Mina Abdullah plant, was also struck early on 19 March, adding to concerns over the vulnerability of the country's refining system. Kuwait has a third refinery, the 615,000 b/d al-Zour facility, further south, close to the Neutral Zone which Kuwait shares with Saudi Arabia. This latest attack follows weeks of repeated Iranian missile and drone attacks in Kuwait, and elsewhere in the Mideast Gulf region, in response to US and Israeli strikes on Iran. Kuwait's authorities have reported damage to airport and port infrastructure in recent weeks. Its air defenses have intercepted more than 500 drones and 300 ballistic missiles since the US-Israel war with Iran began on 28 February. US president Donald Trump said on Wednesday that military strikes on Iran would continue, dashing hopes for an imminent end to the conflict. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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