Brent corrects as the dollar rallies

Brent prompt future contract corrected lower, at 63 $/b, as demand-side worries emerged. The US dollar continued strengthening also lowered crude prices. Finally, the anticipation of an OPEC supply hike appears increasingly certain, potentially pushing crude oil in a market with limited refining demand thanks to the slow recovery of Texan refineries and slowing demand in Asia due to turnaround season. 

us-crude-stocks-excl-spr
Share this news :

You might also read :

ES-oil
January 20, 2022

American diesel pull resumes

ICE Brent front-month settled at 88.4 $/b, as the API survey showed small builds in commercial crude (1.4 mb) which counterbalanced perfectly the release of…
ES-oil
November 15, 2021

SPR release in the void ?

Crude prices remained pressured, sticking to the 80-82 $/b range, as the possibility of a US SPR release limited prompt tightness. With such growing political…
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]