US crude inventories likely climbed last week as refinery maintenance reduced demand while exports slipped, an S&P Global Platts analysis showed Monday.

The oil futures complex edged lower Monday on continued concerns about economic growth and bearish fundamentals.

Angola's battle to stem its steep production decline is proving to be a long one, with hopes resting on the country's new licensing round, the first since 2011, along with the outcome of reforms by President Joao Lourenco.

Ecuador's state-run oil producer Petroecuador restarted exports of heavy sour Oriente and Napo crudes early Sunday, according to a letter sent by the company to its clients Sunday.

European downstream oil company Varo Energy has started VLSFO supply at Bremerhaven, Germany, in addition to existing supply at Hamburg, Germany, the company said in a statement Monday.

Saudi Aramco's trading arm is seeking to boost its traded volumes of crude and refined products by a third to 6 million b/d by 2022 as it hunts for more storage globally, the CEO of the division said on Monday.

Tight supply of high sulfur fuel oil in Singapore pushed premiums to a one-month high for derivative contracts measuring the arbitrage to Asia from Europe, amid rising freight rates and a shift toward low sulfur bunker fuels.

Between June 2017 and August 2019 it has supplied more than 1.5 million mt of bunker fuel at Ras Laffan.