India is turning heads in the global LNG market, and if the buzz from India Energy Week 2025 is any indication, the country is gearing up for a natural gas future that could rival some of the world's biggest players.

Gasoline demand surged 250 Mb/d to 8.58 MMb/d last week, the highest level this year, leading to a 3 MMbbl inventory draw, while diesel implied demand plummeted, prompting the first inventory build in weeks. Despite weaker crude prices, crack spreads surged as gasoline prices jumped $5.07/bbl whi

In today’s EIA report, total U.S. propane/propylene inventories had a withdrawal of 2.6 MMbbl for the week ended February 7 (red bar),  which was about 737 Mbbl less than the average draw of 3.3 MMbbl for the week (green bar).

U.S. crude oil exports averaged 3.3 MMb/d last week, down 504 Mb/d from the prior week, as Corpus Christi and Houston-area terminal exports fell by a combined 433 Mb/d. Exports were about 450 Mb/d below the year-to-date average.

Twenty-seven LNG cargoes were exported from the U.S. last week, and Europe is still attracting many of these cargoes.