Since his return to the US presidency, Donald Trump has launched a maximum-pressure campaign on Iran in pursuit of a nuclear deal, in sharp contrast with a more diplomatic approach towards Venezuela. How will these geopolitical strategies affect oil exports, spot markets, and the role of players like China on the global stage?

Jeff Mower, Kate Winston, Chris van Moessner, and Pat Harrington unpack the latest moves from the Trump administration regarding Iran and Venezuela and what they mean for oil prices and the market landscape.

Links: Register for CERAWeek

India's rapidly growing energy demand, the shifting focus of oil producers towards the country, and the transition to cleaner energy sources are key themes at India Energy Week. Delegates will seek insights on how Indian energy companies and policymakers can balance the reliance on traditional fuels with a new energy roadmap.

In a comprehensive discussion, Dave Ernsberger, Co-President at S&P Global Commodity Insights, Ranjit Rath, Chairman and Managing Director at Oil India Ltd, and Sambit Mohanty, Asia Energy Editor, will explore key market issues of interest to delegates. They will address India's evolving relationship with non-OPEC producers and outline the strategies India plans to implement in its upstream sector to attract global investors.

This is a special bonus episode of Oil Markets, originally featured in the Commodities Focus series! Tune in!

A fast-paced beginning to the second Trump presidency has sent ripples across financial and commodities markets globally with tough talk on sanctions and tariffs, in particular.

Joel Hanley is joined by Thomas Washington and Herman Wang to dissect the impact US policy is having on oil and shipping markets and what OPEC+ make of Trump 2.0.

Links:

Register for London Energy Forum 2025 US tariffs on imports from Canada, Mexico delayed by one month OPEC+ stays the course with output cuts, pushes for improved compliance (subscriber content) Dated Brent PCAAS00 Dubai Mo01 PCAAT00

The recent expansions of the US Office of Foreign Asset Control (OFAC) vessel sanction list have sent shockwaves throughout the tankers and crude oil markets, raising questions about potential shifts in crude import strategies for China and India. Market participants are closely monitoring the extent to which Iranian and Russian crude exports may be disrupted, how major importers like China and India are adapting, and how sanctions may evolve under the new US administration.

In this episode, Benjamin Tang, liquid bulk team lead at S&P Global Commodities at Sea, is joined by Yen Ling Song, associate director for S&P Global Commodities at Sea, and Sameer Mohindru, senior editor for shipping and freight at S&P Global Commodity Insights to discuss the implications of the latest US sanctions targeting Russia's oil tanker fleet and their far-reaching effects on global oil markets.

With European stockpiles of gasoline reaching uncharacteristically high levels in recent weeks, Joel Hanley is joined in this episode by Ernest Puey and Matthew Tracey-Cook. Together, they delve into the factors driving the incentive to store gasoline and explore the latest shifts in the product's flows across the Atlantic Basin.

Links: Platts 10ppm Premium AR barges - PGABM00 Platts Eurobob FOB ARA barges - AAQZV00 Platts Eurobob AR FOB barge derivative time spread - GAMBM01

London Energy Forum: https://commodityinsights.spglobal.com/LondonEnergy-Forum.html

ARA gasoline stocks at multi-year high; naphtha stocks rise 8.1%: Insights Global European gasoline exports shift as Nigerian imports hit record low: CAS US President Trump to impose 25% tariffs on imports from Mexico, Canada starting Feb 1

US refiners have had a dramatic start to the new year, facing wintry blasts on the East Coast and devastating wildfires on the West Coast. Plummeting transportation fuel demand in Southern California, strong heating fuel demand in the Northeast, and cheap blending components in the Gulf Coast have created a balancing act for producers and shippers of gasoline and distillates -- and consumers pay the price.

Jeff Mower discusses the weather events, seasonal supply and demand, price movements, and more with senior downstream editor Janet McGurty, Americas light ends manager Sarah Hernandez and Americas middle distillates manager Jordan Daniel.

High volumes of WTI Midland crude arrived in Europe in December, significantly impacting light sweet sentiment in both the North Sea and West African markets. As we enter the new year, a resurgence of demand from Asia is beginning to reshape the landscape. Joel Hanley is joined by Joey Daly and George Delaney to explore the effects of renewed Asian demand for Western barrels and reflect on a month of record-breaking activity in the Platts North Sea physical Market on Close assessment process.

Links: Dated Brent - PCAAS00 Bonny Light FOB Nigeria London vs WAF Dtd Strip - AAGXL00 Girassol FOB Angola vs Angola Dtd Strip - AASJD00 WTI Midland CIF Rotterdam vs Fwd Dated Brent - WMCRB00

Boost in eastern demand supports North Sea, Angolan crude grade upticks (subscriber content) Midland volumes pressure European sweets in December (subscriber content) London Energy Forum: https://commodityinsights.spglobal.com/LondonEnergy-Forum.html

It's been quite the year for oil markets. In this special episode of the podcast, Joel Hanley, Jeff Mower, Sambit Mohanty and Richard Swann look back at 2024 and try to untangle the biggest themes, including slowing demand growth, the incoming Trump administration, and the formidable challenge for OPEC+ in its quest for market control. The panel also discusses trade flows, new crude supply, and how changes in China's economic fortunes could have a major impact going into 2025.

Links: Shadow fleets: The covert armada defying oil sanctions

The Russian government's announcement of the partial resumption of gasoline exports by the country's refineries comes at a time when global oil product flows are constantly evolving.

In this episode of the Platts Oil Markets podcast, Francesco Di Salvo is joined by Elza Turner, Robert Perkins and Matthew Tracey-Cook to discuss the reasons behind Russia's decision and what it means for product trading patterns along the length of the oil barrel and across global markets.

Links: 10ppm Premium FOB AR gasoline barges - PGABM00 FOB MED Premium gasoline cargoes - AAWZA00 Eurobob FOB ARA barges - AAQZV00 Russia lifts gasoline export ban for refineries - Subscriber content Russian refineries runs likely to suffer on poor margins - Subscriber content

China will slash its clean oil product export tax rebates from 13% to 9% starting December 1, which will likely dampen outflows from Asia's third-largest oil product exporter. While this move may be seen as China laying the groundwork for potential trade talks with the US, other factors, such as capacity rationalization and mounting government debt, could also be at play.

In light of a potential US-China trade war, Commodity Insights' Asia oil news editor Neo Rong Wei, market specialist Oceana Zhou, and AltView's Grace Lee discuss in the latest episode of the Oil Markets podcast how this could bode well for Chinese oil demand, while exploring the wider implications these developments may have on regional crude and oil product markets in the year ahead.

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