ICE Brent crude oil gained a dollar, to 67.7 $/b at the prompt, supported by a relatively constructive EIA weekly report but also strengthening cracks globally. US demand remained strong, despite a pullback in gasoline consumption, while US refiners processed 15 mb/d of crude last week. US crude production remained pegged to 11 mb/d, which…
European gas prices were slightly up overall yesterday. Although the bullish impact of Gazprom’s decision not to book additional shipping capacity to Ukraine for May started to fade, low European gas stock levels remained a source of concern. The rise in Asia JKM prices and parity prices with coal for power generation (both EUA and…
Optimism should prevail on financial markets: the Fed was more confident about activity recovery but committed to let its policy unchanged, as the inflation spike should remain “transitory”. Joe Biden unveiled his new $1.8tn stimulus package focused on social measures and tax fairness. The plan will now be debated at the Congress and will likely…
Crude prices climbed by about 0.5 $/b, to 66.7 $/b for ICE Brent prompt month contract, as OPEC+ members maintained their production policy in a rapid meeting held yesterday. However, the API survey showed a build in crude oil inventories of 4.3 mb while distillates and gasoline stocks dipped by respectively 2.4 mb and 1.2…
European gas prices increased significantly yesterday as Ukrainian TSO failed to sell any of the total 63.7 mm cm/day interruptible capacity offered for May at the Sudzha interconnection point on the Russian-Ukrainian border. Gazprom not having booked any additional capacity, there is a risk that Russian flows at Velke Kapusany, at the Ukrainian-Slovakian border, will…
