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
October 27, 2021

Cushing draws surprise

Crude prices remained supported throughout yesterday, despite builds reported by the API survey in the US. Indeed, crude stocks grew by 2.3 mb, while refined…
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]