ICE Brent prices retreated at 71 $/b. North Sea markets continued to trade sideways compared to futures, as 3 cargoes of crude were still held in floating storage without any buyers. This tallied with a revision in Kpler inventories estimates, pointing to large crude builds over the last days. US imports are forecasted to jump by 1 mb/d w/w, to limit the crude stock draws.
Brent 1st-nearby briefly fell back below $120/b yesterday before rising again and now trading above $126/b. The price levels are so high that one gets used…
Lifted by the expectations of colder temperatures, the European power spot prices slightly rose yesterday despite the forecasts of higher wind output and nuclear availability.…