Extreme price volatility
In less than 2 hours yesterday, the price of Brent 1st-nearby first approached $115/b before plunging towards $104/b. It has since recovered to around $113/b. Fears of…
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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