Tidbits, Q&A: Lifting a Hedge, Crude Oil & Fuel, Wheat Crops, Export Sales 3/6/26
- Wright team
- 21 minutes ago
- 5 min read
Tidbits
Crude Oil & Fuel: Bloomberg reports that China has told their oil refiners to suspend diesel and gasoline exports.
Japanese oil refiners are asking the government to release supplies from the strategic petroleum reserves and have also bought around 7 million barrels of U.S. crude oil for June arrival.
U.S. Energy Secretary Wright said the Navy will escort vessels through the Strait of Hormuz “when the time is right,” but their current focus is disarming Iran. He said the temporary impact on energy is a “small price” to pay.
Attacks on ships in the strait continue.
Reuters reported that the U.S. has allowed India to purchase Russian oil. The permission will be valid for 30 days and applies only to oil that is currently on tankers at sea. This measure is intended to reduce pressure on the global oil market.
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