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 :

ES-oil
February 8, 2021

Normalisation without upside?

Brent prompt future contract approached topped 60 $/b on early Monday, as the successful OPEC meeting on last week continued to tighten crude markets. However,…
ES-economy
May 24, 2021

A bit of calm after a hectic week

Volatility has been quite strong on financial markets last week, with the Fed minutes in the middle of the week and huge price variations on…
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? 

[booked-calendar]