Asian weakness in fuel oil markets
Crude prices corrected, with ICE Brent Dec21 contracts back to 84.3 $/b, as diesel cracks in Europe weakened momentarily, due to a 1.3 mb diesel…
Crude oil prices pulled back to 66.3 $/b as the exponential growth of the pandemic in India continued to lower demand expectations for the third-biggest crude oil importer. The API survey showed a small build in crude stocks as US refining throughput declined slightly while gasoline inventories dropped by 1.6 mb. Japanese runs continued to edge lower, reflecting the demand weakness the archipelago currently faces.
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