Conflicting narratives

Oil
June 8, 2021

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.

Share this news :

You might also read :

July 20, 2021

Liquidation

Falling inflation expectations, combined with collapsing equities globally, likely triggered a sell-off in crude and refined products futures. ICE Brent prompt contracts for September delivery went…

October 5, 2021

OPEC+ maintains its production policy for November

Crude prices rallied yesterday, as OPEC+ members met to decide their forward production policy for November. Dec-21 ICE Brent contract reached 81.6 $/b on early…

January 28, 2021

US equity record their worst day in three months

Doubts about the US stimulus package and vaccine shortages are worsened by panic among short-sellers linked to the GameStop mania. The “fear index”, the VIX,…

Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter