US crude draws continue

Crude markets continued to be partially bid up with ICE Brent November contract reaching 75.4 $/b. The industrial survey published by the API reported another sizable crude draw of 6.1 mb in the US, while gasoline and distillate stocks respectively declined by 0.4 mb and 2.7 mb. The long-lasting impact of Ida on US offshore production, therefore,…

European prices weakened slightly

European gas prices weakened slightly yesterday, despite the further rise in Asia JKM prices (+8.10% on the spot, to €80.761/MWh, +1.27% for the November 2021 contract, to €80.116/MWh). The drop seems to have been triggered by profit taking by financial participants after the strong increases of the previous session. On the spot supply side, Russian…

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