Brent price nears $73/b
- Oil
- September 7, 2021
Crude oil prices hit a low yesterday ($71.51/bbl for Brent) after Saudi Arabia cut the price of its exports to Asian customers. Then, they recovered in a context still marked by the damage inflicted by Hurricane Ida on the oil complex in the Gulf of Mexico: 80% of the region’s production remains absent. The upward trend is supported by the surprise rebound in China’s foreign trade in August, although the significance of these figures is questionable (see Daily Eco). More specifically, crude oil imports also seem to be heavily dependent on government quotas and weather conditions (there was a typhoon in July), without this really reflecting the state of demand.
Share this news :
You might also read :
It was to be expected: the simultaneous emergence of the Omicron variant and the peak of inflation (the inflation rate in the euro zone reached…
January 27, 2022
Mixed price evolution amid bearish spot fundamentals and concerns ahead
European gas prices were mixed yesterday. They dropped on the spot and the two front months, pressured by moderate demand, ongoing strong LNG sendouts and…
March 31, 2021
European prices keep steady on cold temperature forecasts
European gas prices rebounded on Tuesday, supported by colder temperature forecasts for early April, concern over potential delays in LNG deliveries due to the Suez…
Subscribe to our newsletter
Brent 1st-nearby is trading around $72.80/b with a prompt time spread rising to around $0.65.