Rallying by default
At 61 $/b, Brent prompt futures are now at their 7th consecutive positive session, boosted by a weakening dollar and Libyan output unable to ramp-up due…
ICE Brent prompt month reached 67.1 $/b on early Thursday, as the dollar continued to weaken and new data on the Chinese refining sector showed sustained activity throughout March. Light sweet crude prices in Asia are getting a boost from the increasingly uncompetitive European and African crude, as the EFS swap continues to be above 3$/b, favouring sour crude buying in the Middle East.
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