Brent prompt futures retreated to 60.7 $/b after the publication of the two monthly reports from OPEC and the IEA, showing a slower recovery than expected in January. The threat of strikes on Troll and Johan Sverdrup fields in Norway is pushing North sea crude differentials higher. Gasoline prices in Europe continued to drop, as…
The situation has not changed much on financial markets that remain calm. Stocks are trading sideways, bond yields and the USD remain rather stable. The EUR/USD has stabilized around 1.2130. The House advanced on the stimulus package, but the Senate is focused on the trial of the former president. UK GDP was up 1% in…
Brent prompt futures continued to rally to 54.7 $/b on early Thursday as Saudi Arabia guaranteed that their voluntary supply cut would last two months starting in February. The US weekly report reported rising refining runs leading to a large stocks draw of 8 mb. On the product side, US oil product markets weakened. Overall…
Prices were down again yesterday in most European gas markets as new forecasts confirmed a warmer weather outlook for the rest of this week and next week. The slight increase in parity prices with coal for power generation (thanks to the rise in EUA prices, which offset the drop in coal prices) helped limit losses…
Brent prompt future price consolidated at 61 $/b, amid an increasingly bullish US crude market, pushing US grades higher compared to North Sea values. However, US gasoline stocks builds were larger than expected, with US mobility likely impacted by cold weather. Russian crude oil output could be lower in February, as the first 10 days…
