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IMO uncertainty stalls LatAm biobunker growth
IMO uncertainty stalls LatAm biobunker growth
Sao Paulo, 16 September (Argus) — Latin American biodiesel producers are delaying investments in the maritime sector as the shipping industry awaits a decision on the International Maritime Organisation's (IMO) proposed Net-Zero Framework (NZF). A supplier on Latin America's Pacific coast cancelled plans to deliver palm oil-based biodiesel to Peruvian and Ecuadorian ports. Other regional producers have also postponed projects targeting the biobunker market. Marine biodiesel demand in 2026 has been estimated to be at least two-thirds lower than in 2025, Latin American suppliers told Argus . In the absence of a global regulatory driver, and following heightened US-Iran tensions, vessels calling at regional ports have focused on purchasing the lowest-cost fuel and not straying from more conventional fuel options . Suppliers said current demand in Latin America does not justify investments without global shipping emissions regulations. Competing for European demand is not financially viable because biodiesel prices in Rotterdam are much lower than in US ports. Europe remains the main demand centre as shipowners must comply with FuelEU Maritime and Renewable Energy Directive (RED) requirements. Argus assessed B30 advanced fame and VLSFO delivered on board (dob) Netherlands at an average price of $877.50/t in the past 30 days. Argus' B24 advanced fame and VLSFO dob Rio Grande — was assessed at an average price of $1,094/t in the same period. Argus currently only assesses B24 advanced fame for the Latin America market instead of B30. Market participants are waiting for regulatory clarity to expand production and supply, but agreement on IMO's NZF still appears distant. Limited progress was made at the Inter-sessional Working Group on Reduction of GHG Emissions from Ships (ISWG-GHG 22) meeting on 1-4 September, which involved more than 1,200 delegates and contributors. The issue was deferred to the next inter-sessional meeting on 23-27 November, shortly before the extraordinary Marine Environment Protection Committee session from 30 November to 3 December in London. Discussions continued outside the formal meeting. Countries broadly agreed that the current draft should remain the basis for negotiations, but a group of member states is seeking to remove provisions covering the Net-Zero Fund. Market participants doubt the NZF will be approved this year. Shipowners' association Bimco said there were some signs of willingness to compromise at ISWG-GHG 22, but disagreements over the framework remain significant, making convergence challenging and raising doubts over whether a revised proposal can emerge before MEPC 85 in early December. SEA-LNG also described the scenario for approval later this year as "challenging". But one Brazilian delegate said he remains optimistic about the negotiations and expects "substantial progress" at ISWG-GHG 23. By Gabriel Tassi Lara Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Jones Act waiver approvals slow, but data limited
Jones Act waiver approvals slow, but data limited
New York, 16 September (Argus) — US trade officials' implementation of a case-by-case review of Jones Act waiver requests since mid-August has cut in half the number of international vessels approved for domestic US shipping, according to sources, although a significant lag in waiver reports is obscuring the data. The more thorough review of requests for waivers from the law that limits US port-to-port shipping to US-built, -owned and -operated ships has led to only about half of all Jones Act waiver requests being approved since the revised process started, two industry sources familiar with the matter told Argus . This compares to a near-blanket approval extended previously to any shippers requesting the waiver since it first went into effect 17 March. US refiners, who have used the waivers extensively to move crude and products between domestic ports, are now seeing some denials because of the new requirement that they prove a Jones Act ship is not available, according to sources, but many are still getting approved. The US Maritime Administration (Marad) database where authorized Jones Act waiver movements are posted lists 255 voyages in total so far this year, including 30 posted since the start of the new review process on 17 August. But all of the voyages in the database as of 16 September loaded prior to the new process starting, meaning the tougher standards were likely not applied to them, denying the market of a clear picture. "We're all a little bit in the dark as far as an official loop closing" Jennifer Carpenter, president of the American Maritime Partnership, an industry coalition that represents domestic maritime interests, told Argus . "We know there have been approvals and denials, but we don't yet have visibility on which ones." Gauging how many waivers have been approved is also difficult due to a 10-day lag between when a ship granted the waiver offloads its cargo and when the waiver is reported by US officials, according to Aaron Smith, president of the Offshore Marine Service Association. In one example, oil major Chevron provisionally hired a Panama-flagged tanker, the Nave Perseus , to load high sulfur vacuum gasoil on 24 May for what should have been a less-than-two day voyage from El Segundo, California to San Francisco. But the vessel did not discharge the cargo at nearby Richmond, California, until 12 July, Vortexa data show. Yet the May loaded voyage is the second most-recent entry in Marad data because the projected discharge date provided was between 8 August and 2 September, putting its official report due date as 12 September. The case-by-case waiver process "is an improvement over a blanket waiver" according to Carpenter, but waivers can still discourage investments in US' domestic maritime revitalization efforts. "Nothing kills investment more than uncertainty and the current system seems designed to breed uncertainty for the domestic maritime industry," Smith said. By Charlotte Bawol and Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EU allocates €430mn ETS revenues to SAF for 2025
EU allocates €430mn ETS revenues to SAF for 2025
London, 16 September (Argus) — Airlines will receive about €430mn ($496mn) in EU emissions trading system (ETS) allowance revenues to support their use of sustainable aviation fuel (SAF) in their 2025 operations, the European Commission said this week. The support comes in the form of 5.2mn EU ETS permits and will be split across 130 operators. This is four times the amount distributed in 2024 , covering most or all of the price gap between fossil fuel kerosene and SAF used by commercial aircraft operators on flights covered by the ETS. The ETS applies to all intra-European Economic Area flights and flights departing the EU for Switzerland and the UK. Overall, airlines claimed around 530,000t of SAF in 2025, which reduced CO2 emissions by around 1.7mn t over the year, according to the commission. The commission proposed in its EU ETS review on 17 July to increase this support mechanism by 110mn allowances, which would amount to around €15bn in additional funding, it said. By Kiara Campagne Nieva Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Cut aviation emissions for Heathrow expansion: UK’s CCC
Cut aviation emissions for Heathrow expansion: UK’s CCC
London, 15 September (Argus) — There is "no credible pathway" for a proposed Heathrow airport expansion that would meet UK climate commitments, unless the government sets policy to ensure the aviation industry reaches net zero emissions by 2050, the parliamentary advisory Climate Change Committee (CCC) said today. "Heathrow expansion is not currently compatible with the UK's net zero target. Government needs to ensure that the aviation industry takes responsibility for the emissions it creates and bears the costs of decarbonisation", CCC chair Nigel Topping said. The government should require the aviation industry to abate 100pc of emissions by 2050 before consenting the proposed Heathrow expansion, the CCC said. The aviation sector could reduce its emissions through "greater efficiency and managing demand growth", the CCC said. But "these can only go so far", so sustainable aviation fuel (SAF) and engineered greenhouse gas (GHG) removals will also be needed, the committee found. It warned that nature-based removals "are not suitable for offsetting residual aviation emissions because they lack the permanence needed to match very long-lived CO2 emissions". The CCC set out a pathway through which the aviation industry could reach net zero emissions by 2050, incorporating the polluter pays principle. Industry would foot the bill for SAF and engineered removals, "which are assumed to be passed onto ticket prices", the CCC said. The committee warned on SAF and engineered GHG removals, flagging that "there remains uncertainty around their deployment at scale on the timelines required". The government should ensure "contingency policies to allow for delays", the CCC added. Heathrow, west of London, is the UK's largest airport. It accounts for nearly a quarter of UK flights and around half of UK aviation emissions, the CCC said. UK civil aviation emissions are provisionally estimated at 37.2mn t/CO2 equivalent (CO2e) in 2025, it found. Aviation is the UK's fifth-highest emitting sector. Heathrow aims to secure planning permission by 2029 for its expansion plans, which includes building a third runway. The planned expansion would not be complete until 2054. Non-governmental organisation T&E found this week that "cumulative extra emissions from a third Heathrow runway between 2035 and 2050 would be equivalent to a full year of emissions from Croatia's entire economy". The UK government requested advice from the CCC on the Heathrow expansion. The UK has a legally-binding target to reach net zero GHG emissions by 2050. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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