Asian margins pressured

ICE Brent prompt month contract recovered to 68.5 $/b on Friday amid a rapid recovery of the Eurodollar, and a global recovery in equity prices as US bond yields declined back to 1.6%, despite widespread inflation concerns. Indian demand for the first part of May was likely to be down by 30%, compared to May 2019. Chinese refining runs in April were at 14.09 mb/d, slightly below our expectations, as low Asian margins likely reduced the Chinese product exports.

complexe refining margin vs dubai swaps
Share this news :

You might also read :

November 16, 2021

Sharp fall in the euro

The EUR/USD exchange rate plunged yesterday after Christine Lagarde reaffirmed her belief that inflation would quickly fall below 2% and that an ECB rate hike was highly unlikely by…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?