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…
ICE Brent prompt contracts declined by a dollar, as prompt month time spreads dropped by 15 cents. The rise in the Eurodollar exchange rate did not affect crude prices, as Gulf coast refineries were hit by adverse storms, with refineries in Port Arthur, TX and Baton Rouge experiencing unexpected outages. US petroleum inventories may have dipped, according to the API survey. Finally, Japanese refining runs continued to dip last week, currently at 2.15 mb/d.
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