Latest insights
Our team of 600+ commodity market experts keep you up-to-date on the energy and commodity markets as they evolve. Explore our latest complimentary written, audio and video content.
US consumer price inflation steady at 2.7pc in Dec
US consumer price inflation steady at 2.7pc in Dec
Houston, 13 January (Argus) — US consumer inflation held steady in December as gasoline prices fell and food increases accelerated, the Bureau of Labor Statistics reported today. The consumer price index (CPI) rose at a 2.7pc annual rate in December, unchanged from November and in line with expectations in a Trading Economics survey of analysts. Core prices, which strip out volatile food and energy, rose at 2.6pc pace in December, also unchanged from the prior month. CPI peaked in 2025 at 3pc in September and in 2024 at 3.5pc in March. Inflation has gradually slowed as the US Federal Reserve has kept interest rates relatively elevated, prompting President Donald Trump to frequently deride Fed chair Jerome Powell for being "too slow" to cut rates. The US Justice Department on Friday launched a criminal investigation of Powell for his testimony before the Senate Banking Committee in June about renovations to Fed office buildings. Powell, in a statement posted online Sunday, said the threat of criminal charges stems from the Fed "setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president". On a monthly basis, prices rose in December by 0.3pc seasonally adjusted, following no changes in the prior two months. The CME FedWatch tool showed a 97.2pc probability the Federal Reserve will hold its target rate unchanged at its meeting at the end of the month. A week ago, odds of holding rates steady were 82.3pc with a 17.7pc probability for a quarter-point cut. Gasoline prices drop Energy prices rose by 2.3pc in December, compared with a 4.2pc annual gain in November. Gasoline prices fell at a 3.4pc annual pace after rising by 0.9pc in November, while piped gas services rose by 10.8pc annually in December following a 9.1pc gain in the prior month. US food price increases accelerated to a 3.1pc pace in December from an annual 2.6pc gain in November. Shelter rose by 3.2pc, up from 3pc in the prior month. Services less energy services, a measure of core services prices, rose by 3pc, also unchanged from the prior month. Prices for used cars and trucks rose at a 1.6pc annual pace in December, slowing from a 3.6pc gain in November. New car prices rose at a 0.3pc pace, slowing from a 0.6pc annual gain in November. Medical care services rose at a 3.5pc annual pace in December, accelerating from a 3.3pc gain in the prior month. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Trump calls off talks with Iran
Trump calls off talks with Iran
Washington, 13 January (Argus) — US president Donald Trump said he called off talks with Tehran in the latest attempt to pressure the Iranian government beset by nationwide protests. "I have cancelled all meetings with Iranian Officials until the senseless killing of protesters STOPS," Trump posted on his social media platform on Tuesday, urging the demonstrations to carry on. Trump said on 11 January that Iran's leaders had reached out to him to negotiate, without providing details. Oman has communicated Iran's openness to talks, according to the White House. Public demonstrations began in several Iranian cities on 28 December in protest at deteriorating economic conditions, and unrest has escalated in scope and severity, particularly over the past week or so, which has triggered a crackdown by state security forces. Trump on Monday threatened to impose an extra 25pc tariff on imports from countries engaged in business deals with Iran. China is Iran's largest trade partner and the primary destination for Iranian crude, which reaches independent refiners through a well-established network of traders and tankers designed to avoid US sanctions. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Italy's Ludoil in talks to buy Priolo refinery
Italy's Ludoil in talks to buy Priolo refinery
Milan, 13 January (Argus) — Italian oil storage and distribution company Ludoil is in exclusive talks to buy the country's biggest oil refinery, the 320,000 b/d Priolo, in a deal that would lead to the plant's gradual decarbonisation. Ludoil said it is "involved in a process of due diligence with a view to the possible acquisition" of the refinery, on the island of Sicily, from Cyprus-based private equity firm GOI Energy. Should the acquisition go through, Ludoil will gradually rejig production to offer low carbon products including sustainable aviation fuel (SAF), hydrotreated vegetable oil (HVO) and bioethanol, it said. GOI has only owned the Priolo plant since early 2023, when it bought the refinery from Russia's Lukoil in a deal involving, via supply and offtake agreements, trading firm Trafigura. GOI beat out a rival bid from Vitol and Crossbridge, sources at the time said. The deal was signed off by the Italian government under special powers on the back of commitments by GOI to maintain employment levels, diversify crude sources and invest in green hydrogen infrastructure . But a source familiar with the matter said GOI had become unhappy with the terms of the crude supply arrangement with Trafigura and was looking for a way out. The source said the refinery needed heavy investment to remain competitive. The Priolo complex combines refining, gasification and electricity cogeneration plants. It is considered a strategic asset by Rome, as it accounts for nearly 20pc of Italy's refining capacity. In its statement, Ludoil also said it has contract for the loading and sale of oil products from the Priolo refinery, which began on Monday, 12 January. Milan-based Ludoil operates a range of oil product distribution services designated by Rome as strategic national assets. It runs nine oil storage sites and 156 retail stations in Italy, and supplies Rome's Fiumicino airport with most of its jet fuel. By Stephen Jewkes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Urea vessel in Venezuela updates destination signal
Urea vessel in Venezuela updates destination signal
Amsterdam, 13 January (Argus) — The Hongli 8 appears close to leaving Jose port in Venezuela, loaded with around 30,000t of urea, which would mark the first shipment of urea since the US raid and capture of the country's president on 3 January, according to vessel tracking data providers. The vessel has updated its destination for Panama, set to arrive on 17 January, according to vessel tracking data from Kpler and others. But there was no confirmation from the parties linked to the vessel. The cargo is understood to be loaded and ultimately destined for the Mexican west coast. The US raid and capture of Nicolas Maduro rocked Venezuela at the start of the month and prompted a spike in already elevated freight rates from the country's ports, complicating urea flows . Producers slashed urea prices in a bid to maintain sales liquidity. But the situation has since calmed and the US has altered its stance regarding restrictions on Venezuela's crude sales, prompting speculation that a similar approach may be extended to other commodities. Venezuelan urea typically heads to Brazil, as well as some other nearby markets and Mexico. Venezuela is home to three major urea facilities, with a combined operating capacity of up to 2.2mn t/yr of granular and prilled urea. But exports have varied widely in recent years, with Argus ' consulting arm estimating Venezuelan urea exports at just over 400,000t in 2025, down from over 700,000t in 2020-21. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Commodities we cover
From upstream production to downstream end-uses, Argus illuminates complex and opaque commodity markets through accurate and reliable price discovery and actionable insight.
Crude Oil
As the leading price benchmark provider for global crude oil, Argus brings transparency to naturally opaque markets to enable trade efficiency.
Oil products
Price benchmarks and forward looking analysis for global refined oil products, including; road fuels, jet fuel, marine fuels, base oils and more.
LPG/NGLs
Market-leading price assessments, news, analysis, fundamentals data and price forecasting for the global LPG and NGL markets.
Gas and Power
Our benchmark price assessments, news and analysis give you vital insight into the key coal markets of Europe, Asia-Pacific, the Americas and Africa.
Why Argus
Argus Market Highlights
These free email alerts keep you ahead of the rapidly changing energy and commodity markets with the latest news and insight from Argus, sent direct to your inbox.
Sign-up now
How we deliver our services
Our wide range of delivery methods ensures you have instant access to the information you need whenever you need it, however you want it.
The Argus advantage
Our people
Our dedicated team of industry professionals are close to local markets, so you benefit not only from precise pricing data but the breadth of market intelligence at their fingertips. Data alone – no matter how accurate – is not sufficient.
Find out more
Methodologies
The unique market insights we deliver are founded on a deep understanding of market mechanisms. Our methodologies for price discovery are transparent and firmly based on rigorous processes and specifications developed in consultation with market participants.
Find out more
Heritage
For over 50 years, clients have benefited from the precise market intelligence delivered by Argus experts working collaboratively across the global commodity markets.
Find out moreLatest events
We draw upon our deep industry expertise and widespread network of well-placed industry commentators to organise events across key energy and commodity markets around the world.
Argus Americas Crude Summit
Argus Americas Crude Summit
Argus Global Base Oils Conference
Argus Global Base Oils Conference
Argus Oil Products. Caspian and Central Asia Markets Conference
Argus Oil Products. Caspian and Central Asia Markets Conference
How can we help?
No matter which side of the energy commodity market you are on, we remain committed to providing you with a clear focus on the intelligence that is relevant to you