Crude prices rally, supported by product markets

  • Oil

Brent prompt futures reached 59 $/b on early Thursday, despite a rally in the dollar as global inventories dwindled and OPEC+ member were renewing their commitments towards a swift market rebalancing. However, the crude draws in the US were combined with a surge in gasoline stocks, as US demand continues to disappoint. 

Share this news :

You might also read :

ES-oil
December 14, 2021

US runs on the rise

Crude oil prices remained range-bound yesterday, despite time spreads continuing to correct. Feb/March ICE Brent time spreads are now at only a 13 cents backwardation. In…
ES-oil
January 28, 2021

Brent prices dip, following equity markets

Brent futures contracts dipped on Wednesday and early Thursday, with the prompt month contract at 55.4 $/b, as all risky assets tanked amid broader market…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

START A FREE TRIAL
Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

Twitter
EnergyScan - Newsletter subscription
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]