Chinese runs surprise to the upside

Oil
March 15, 2021

ICE Brent prompt contract was trading at 69.7 $/b on Monday as most Texan refineries were restarted over the weekend. Furthermore, Chinese crude processing in January and February remained strong, at 14.13 mb/d, slightly above our forecasts as fuel consumption during the Lunar New Year break remained strong.

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Chinese runs surprise to the upside

You might also read :

Sharp price drop as tensions on the Ukrainian border eased

Weak gas and power demand continues to weigh on European energy prices

EUAs quickly retreated towards 50€/t after a bullish opening

Simplifying energy markets