VLSFO 3Q viscosity levels hit new high

: Oil products
25/10/08

Very low-sulphur fuel oil (VLSFO) global viscosity levels hit a new record high in the third quarter of 2025, according to the most recent data from French classification society Bureau Veritas.

VLSFO viscosity levels at 50°C (122°F) averaged 190 centistokes (cst) in the third quarter, exceeding the record set in the previous quarter since Bureau Veritas began collecting this information in 2020. The third quarter 2025 average was up by 15pc compared with the same period last year at 165 cst.

Gothenburg, Sweden, had the highest average viscosity at 336cst followed by Skagen, Denmark, at 323cst and Zona Comun, Argentina, at 300cst, Bureau Veritas said.

New Orleans, Louisiana; and Santos, Brazil, once again had the lowest average VLSFO viscosity at 83cst and 94cst, respectively. Yeosu, South Korea, was the third-lowest average viscosity at 118cst, according to Bureau Veritas.

The higher the viscosity level, the less wear and tear will occur in a ship's engine.

By Luis Gronda

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25/11/10

European gasoline cracks hit 18-month high

London, 10 November (Argus) — European gasoline margins to crude hit an 18-month high on Monday. Benchmark non-oxy gasoline barge premiums to Ice Brent crude futures were $22.11/bl at Monday's close, surpassing seasonal peaks during the 2025 and 2024 summer driving seasons and the highest since 7 May 2024. Non-oxy barge refining margins have averaged $18.59/bl to date in October, the highest for the period since 2022 when global demand began returning following the Covid-19 pandemic. Ambiguity about the future of Russian firm Lukoil's subsidiary Litasco and its European refining and product assets has supported European gasoline cracks. The US blocked trading firm Gunvor's bid for the assets, throwing the future of Litasco's downstream European operations in doubt. Prices were already underpinned by European refinery maintenance and tighter prompt supply availability, according to traders. Gasoline barge loading delays have been reported since late September-early October, limiting the amount of product making its way into storage. Cracks have also been supported recently by refiners pivoting to diesel production to capture strong distillate margins, a trader said, as the global diesel pool is shrunken by lower Russian export loadings. Europe appears to be rolling back the amount of gasoline made available for export. Cargo loadings from the EU, UK and Norway for overseas destinations in the first 10 days of November were the the lowest daily rate on record for the period at 736,000 b/d, according to Kpler. This was down from 844,000 b/d in 1-10 October. And Europe has imported 104,000 b/d of gasoline to date this month, the highest for the period since August 2024, to tackle elevated prompt supply tightness. This is reflected in $45/t backwardation in the Eurobob oxy swap structure, between the balance of the November swap and the front-month December swap on Monday. West African buying interest may be waning, however. Nigeria's 650,000 b/d Dangote refinery cut its asking prices for gasoline on Friday, probably closing the arbitrage window from Europe to its second-largest export market. This may weigh on non-oxy barge refining premiums. Paper indications are still pricing in a drop in Eurobob oxy cracks month-on-month until January. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EPA does not update court on biofuel timing: Correction

25/11/10

EPA does not update court on biofuel timing: Correction

Corrects government shutdown's impact on court deadlines, and updates with new information throughout. New York, 10 November (Argus) — President Donald Trump's administration did not update a court on its timeline for finalizing new biofuel blend mandates, as a partial government shutdown slows down court cases and regulatory work. Biofuel groups Clean Fuels Alliance America and Growth Energy have repeatedly sued the administration over its delays, hoping that a court will require the Environmental Protection Agency (EPA) to set new biofuel quotas before year-end. Judge Timothy Kelly of the US District Court for the District of Columbia ordered the administration to provide an update on its timeline by 7 November. But in a filing that evening, the biofuel groups said they had not heard back from government lawyers. No timing update was provided. "It is the understanding of Clean Fuels and Growth Energy that counsel for defendants may currently be furloughed," they told the court. Kelly ordered the update before the ongoing partial government shutdown began. The DC district court later said in a general order that it would give the government more time to respond across all civil cases because of the funding lapse. Government lawyers had previously warned courts that the shutdown would sideline critical officials and make it hard to meet deadlines. But the government's lack of response to biofuel groups in the case is still raising fears of more prolonged delays updating a program that is important for producers of ethanol, renewable diesel and other biofuels and is popular among powerful farm-state Trump allies in Congress. EPA told Argus it was reviewing comments on its plan to make oil companies offset past program exemptions and "continues to work on final regulations" to establish new blend mandates. In past cases over biofuel program deadlines, biofuel groups and federal officials have negotiated new timelines or judges have ordered EPA to act by a set date. Clean Fuels said it would continue to ask the DC court to expedite the case and require the agency to publish a final regulation by year-end. Under the Renewable Fuel Standard, EPA requires oil refiners and importers to annually blend different types of biofuels or buy credits from those that do. The program is crucial for the production margins of ethanol, renewable diesel and other biofuels and is popular among powerful farm-state Trump allies in Congress. EPA — required by law to set new mandates 14 months in advance of a new year — is late setting new quotas for 2026 and 2027. Even before the shutdown, the Trump administration told the DC court that developing a complicated plan to offset the impact of small refinery exemptions meant it might not be able to finalize new blend mandates until next year . Biofuel advocates fear that further delays would mean less ambitious final quotas, another hurdle for biorefineries that have cut run rates this year and for farmers hurting from this year's tariff fights. EPA has indeed been more cautious in the past when finalizing retroactive mandates since oil companies have less notice on volumes they must bring to market. Lawyers and lobbyists who closely track the program have also told Argus that delays raise the chance that major program updates — like a plan to halve program credits for fuels made abroad or from foreign feedstocks — are at least pushed back. Oil refiners have argued the half-credit idea is illegal and questioned how EPA could roll out a new feedstock tracking system in a matter of weeks. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Rising German gasoil prices pressure demand

25/11/10

Rising German gasoil prices pressure demand

Hamburg, 10 November (Argus) — Inland heating oil and diesel prices in Germany rose last week, driven by a rally in Ice gasoil futures. The increases curbed buying interest from consumers. Ice front-month gasoil futures climbed above $800/t on 7 November — their highest since early July 2024. The rise equates to about €7.30/100 litres. National average prices for heating oil and diesel in Germany increased at a more moderate pace, up by around €4/100l, but still reached their highest since late June. Gasoline prices saw a smaller increase of about €1.40/100l. Traders said higher prices are deterring buyers. Subdued demand also explains the smaller rise in domestic prices compared with futures. High domestic refinery utilisation is helping cap inland price increases in Germany, with only the 187,000 b/d Godorf refinery currently in partial shutdown. Calculated German greenhouse gas (GHG) costs for diesel fell by nearly €1/100l last week, further weighing on prices. The drop reflects lower prices for hydrotreated vegetable oil (HVO) and GHG certificates. Arbitrage conditions for US gasoil exports to Europe worsened in October. But the arbitrage window reopened last week as Ice futures rose, potentially allowing US flows to Europe to resume in the coming weeks — assuming fundamentals remain stable. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US EPA grants more waivers from biofuel quotas

25/11/07

US EPA grants more waivers from biofuel quotas

New York, 7 November (Argus) — President Donald Trump's administration today granted small refiners even more exemptions from federal biofuel blend mandates, raising the stakes of a debate about whether larger oil companies should shoulder more of the burden. The US Environmental Protection Agency (EPA) granted two full exemptions from the program's annual blend requirements, halved obligations in response to 12 petitions, and denied two others. The agency requires oil refiners and importers to annually blend biofuels or buy credits from those who do, though small facilities that process 75,000 b/d or less can request program waivers that can save them tens of millions of dollars. The agency used the same methodology as its sweeping August decision , which responded to a historic backlog of petitions and granted most refiners some relief from years of mandates. New petitions poured in afterwards, including from refiners that had not requested waivers in years. And more decisions could come soon, with EPA committing Friday to "address new petitions as quickly as possible" and to try to meet a legal requirement to decide requests within 90 days. Farm and biofuel groups fear that widespread waivers curb demand for their products and have lobbied the Trump administration to follow through on a plan to make oil companies without exemptions blend more biofuels in future years to offset past exemptions for their smaller rivals. Particularly for higher-cost products like renewable diesel and biogas, any dip in demand can prompt biorefineries to slash output. The debate has intensified in recent weeks after a refiner granted generous exemptions in August announced plans to convert a renewable diesel unit back to crude. "The impact on biofuel and agriculture markets will be devastating" without compensating for these exemptions in future biofuel quotas, said Geoff Cooper, president of the ethanol lobby Renewable Fuels Association. EPA already planned on estimating future exemptions from 2026-2027 requirements when finalizing biofuel mandates those years. But the agency has added more work to its plate with a subsequent plan to force large oil refiners to compensate for either all or half of the biofuel volumes lost to actual and expected exemptions from 2023-2025 requirements. The impact of older exemptions is less significant since the credits are expired. The challenge for EPA is that small refiners can submit new or revised petitions at any time, including for years-old mandates. That makes it hard for EPA to accurately forecast future exemptions, and biofuel groups have feared that the agency could muddle the effects of its "reallocation" plan by underestimating volumes ultimately lost to program waivers. Indeed, EPA with its Friday decisions has already waived more requirements than it predicted earlier this year. The agency last forecast that exemptions from 2023 and 2024 mandates would amount to around 1.4bn Renewable Identification Number credits (RINs) of lost demand — but now, the waivers have already reduced obligations those years by 1.92bn RINs, according to program data. If EPA sticks to its plans, that means large refiners will have to blend an even greater share in future years than expected. But if the Trump administration waters down its reallocation idea, biofuel demand could sink more than previously forecast too. There is also the risk that EPA underestimates exemptions for the 2025 compliance year. EPA last forecast that exemptions from those requirements will amount to 780mn RINs of lost demand but has not yet decided any of the 12 pending petitions for that year. Many more requests are likely. Small refiners add to their winnings The August exemptions were a windfall for some oil companies. HF Sinclair, which owns multiple small refineries, last week reported $115mn from lower compliance costs as well as a $56mn indirect benefit from "commercial optimization" of its RIN credit position. And HF Sinclair won more Friday, winning full waivers from 2023 and 2024 biofuel mandates for the "east" section of a larger 125,000 b/d complex in Tulsa, Oklahoma that before September had not previously requested relief in at least three years. The company also won partial relief for two other units from 2021 mandates. Phillips 66 won four years of partial relief for its 66,000 b/d Montana facility, as did Big West Oil for its 35,000 b/d Utah plant. Silver Eagle won exemptions from 2023 blend mandates for two smaller units it owns in Wyoming and Utah. The only Friday denials were for Chevron's 45,000 b/d Utah refinery, which applied for the first time in years just last month. But the increasingly generous relief for small refiners is likely to provoke further backlash from larger oil companies, which argue that making them blend more biofuels is anticompetitive and illegal. EPA is months behind schedule on setting biofuel mandates for 2026 and 2027 and has a deadline Friday to tell a court more about how its reallocation plan affects its timeline. Biofuel groups have asked the court to force the agency to finalize program updates by year-end. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US flight reductions to be staged over 7 days: Update

25/11/07

US flight reductions to be staged over 7 days: Update

Updates total cancellations, delays. Houston, 7 November (Argus) — The US Federal Aviation Administration (FAA) will stage planned flight cancellations over seven days before reaching a full 10pc reduction at key airports. A 4pc reduction in operations will take effect today at 40 high-traffic airports across the US before ramping up to 6pc by 11 November, 8pc by 13 November and 10pc by 14 November, according to the US Department of Transportation. Airlines will be allowed to use their own discretion to decide which flights are canceled to satisfy the order, which does not require a reduction in international flights. Total cancellations within, into or out of the US today reached 850 by 12pm ET today, according to flight-tracking site FlightAware, marking the highest rate month-to-date. Delays totaled 1,686. More than 660 cancellations are expected tomorrow, and at least 265 are planned for Sunday. US flight cancellations have totaled 1,875 since 1 November, and delays totaled 32,865. The count also includes mechanical, weather-related, and other incidents. US transportation secretary Sean Duffy had warned the US earlier this week that an extended US government shutdown would cause mass flight cancellations and airspace closures, blaming Democrats for not voting to reopen the government. Air traffic controllers and Transportation Security Administration (TSA) agents have been working without pay and with fewer staff since the partial US government shutdown started on 1 October. Staffing shortages prompted the FAA to periodically issue temporary ground stops at some airports because of a lack of air traffic controllers, while TSA staff shortages led to hours-long security check-ins. The planned flight reductions may add downward pressure to US jet fuel prices because of lower demand. The Argus US jet fuel index already fell by 22.6¢/USG week-on-week to $2.41/USG by the end of trade 6 November. By Amanda Hilow US/Canada airports with flight restrictions Airport Code Ted Stevens Anchorage International ANC Hartsfield-Jackson Atlanta International ATL Boston Logan International BOS Baltimore/Washington International BWI Charlotte Douglas International CLT Cincinnati/Northern Kentucky International CVG Dallas Love Field DAL Ronald Reagan Washington National DCA Denver International DEN Dallas/Fort Worth International DFW Detroit Metropolitan Wayne County DTW Newark Liberty International EWR Fort Lauderdale/Hollywood International FLL Honolulu International HNL William P. Hobby Airport, Houston HOU Washington Dulles International IAD George Bush Houston International IAH Indianapolis International IND New York John F. Kennedy International JFK Las Vegas McCarran International LAS Los Angeles International LAX New York LaGuardia LGA Orlando International MCO Chicago Midway MDW Memphis International MEM Miami International MIA Minneapolis/St. Paul International MSP Oakland International OAK Ontario International, Canada ONT Chicago O'Hare International ORD Portland International, Oregon PDX Philadelphia International PHL Phoenix Sky Harbor International PHX San Diego International SAN Louisville International SDF Seattle/Tacoma International SEA San Francisco International SFO Salt Lake City International SLC Teterboro, New Jersey TEB Tampa International TPA US Department of Transportation Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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VLSFO 3Q viscosity levels hit new high

Related news posts

European gasoline cracks hit 18-month high

European gasoline cracks hit 18-month high

EPA does not update court on biofuel timing: Correction

EPA does not update court on biofuel timing: Correction

Rising German gasoil prices pressure demand

Rising German gasoil prices pressure demand

US EPA grants more waivers from biofuel quotas

US EPA grants more waivers from biofuel quotas

US flight reductions to be staged over 7 days: Update

US flight reductions to be staged over 7 days: Update

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