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On October 19th, the Canadian military confirmed on the 18th that the serious fire that broke out on the 17th at the Wynnewright military base in Alberta, western Canada, was caused by live-fire training. The incident has resulted in the deaths of four soldiers, and 39 others are receiving treatment in hospital, at least 19 of whom are in critical condition. According to the military, the live-fire training conducted on the 17th triggered the grassland fire. Major General Wade Rutland stated that soldiers were conducting live-fire training, including grenade throwing, at a grenade range, and carrying out a tactical exercise that the military refers to as "platoon assault."Japanese Prime Minister Sanae Takaichi: Plans to moderately control the issuance of Japanese government bonds.October 19th, Futures News: Crude oil prices fluctuated at high levels, refinery costs remained high, and fuel oil demand was still relatively strong. Refineries increased sales volume and were reluctant to sell at low prices, but downstream buyers were cautious about operating on high-priced resources due to their limited needs. Market buying activity was lukewarm, with upstream and downstream players locked in a battle of wills. It is expected that fuel oil negotiations will remain mostly stable today, with some products experiencing slight price fluctuations depending on their own sales status.Bank of Japan Governor Kazuo Ueda: If fiscal spending can successfully boost Japan’s supply capacity for goods, in the long run, this will in turn help to curb inflation.October 19th - From today (October 19th) to October 29th, the United States, Japan, and other countries will hold the so-called "Keen Sword" joint exercise, centered on Kyushu and the southwestern islands of Japan. This exercise will expand into new domains such as space, cyberspace, and electromagnetic waves, making it the largest in its history. As part of the so-called "exercise of the capability to attack enemy bases in the event of an emergency," the Type 25 surface-to-ship missile, a long-range standoff missile deployed by the Japanese Self-Defense Forces at the end of March, will be deployed for the first time outside its deployment location. It is reported that approximately 45,000 personnel from the Japanese Self-Defense Forces and 12,000 personnel from the US military will participate this year. In addition to Australia and Canada, which have participated in the exercise before, five countries participating for the first time, including France, Germany, and the Netherlands, will also participate in some exercise subjects. The US military will also deploy its latest surface-to-ship missile system, the Naval/Marine Corps Expeditionary Ship Interceptor System (NMESIS), and the integrated air defense system, the Marine Corps Integrated Air Defense System (MADIS), on Yonaguni Island for the first time. In addition to deploying NMESIS and MADIS, the U.S. military will also deploy the HIMARS multiple rocket launcher system on Ishigaki Island.

European Refiners Benefit From Emergency Release of U.S. Oil Stocks

Haiden Holmes

May 13, 2022 09:57

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According to U.S. Customs data, ship tracking, and an industry source, at least three vessels carrying crude oil from U.S. emergency stocks set sail for Europe in April as European refiners rushed to replace Russian crude supplies.


Since Russia's invasion of Ukraine, releases from the Strategic Petroleum Reserve (SPR) have been made to combat supply shortages and halt fuel price increases. A release in the fall of 2017 was largely intended to reduce growing gasoline costs in the U.S.


The Biden administration added 180 million barrels to two smaller leaks from caves along the U.S. Gulf Coast since November. The United States has not banned exports of SPR oil, and analysts expect exports will increase.


Despite the releases, retail gasoline and diesel prices in the United States, averaging $4.40 and $5.55 per gallon, respectively, have stayed at record highs. Fuel demand is so strong According to expert predictions, the average quarterly profit per share for U.S. refiners is expected to be four times that of the first quarter.


Phillips 66 (NYSE:PSX) carried approximately 600,000 barrels of crude from the Bryan Mound cavern in Texas onto the ship Sea Holly last month. It is on route to Trieste, Italy, according to U.S. customs data and Refinitiv Eikon. A pipeline in Trieste transports crude oil to refineries in central Europe.


Last month, Atlantic Trading & Marketing (ATMI), a subsidiary of the French oil giant TotalEnergies, shipped little more than 1 million barrels of SPR crude to Rotterdam.


In April, approximately 2.25 million barrels of SPR were transferred on three vessels to Italy and the Netherlands, according to Matt Smith, lead oil analyst for the Americas at data provider Kpler.


According to government filings, ATMI has obtained at least 3.5 million barrels from the SPR, while Phillips has secured as least 10 million barrels. Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Marathon Petroleum (NYSE:MPC), and Valero Energy are additional firms that purchase SPR oil (NYSE:VLO).


Phillips 66 refuses to comment on business transactions. The ATMI did not react quickly to a request for comment.


With the ongoing release of SPR over the next few months, "exports can be anticipated," Kpler's Smith said.