Crude collapse

The collapse in refining margins was a prelude to the significant downward correction experienced on Brent and WTI markets. Crude prices dipped by more than 3 $/b within a day, as worries about crude and product demand were finally reflected in crude prices. European COVID policies continue to under-deliver, with the delay of the vaccination campaign by a week led by concerns over AstraZeneca’s vaccine, postponing the long-awaited economic recovery. Brazil continues to be the epicentre of the pandemic. Despite a good rebound of fuel consumption in the country, restrictive measures could be considered as daily fatalities reached 2.6k. 

crude-timespreads
Share this news :

You might also read :

ES-gas
May 28, 2021

Sharp drop in European prices

European gas prices dropped significantly yesterday, pressured by lower residential demand due to higher temperatures and higher Norwegian supply. Indeed, Norwegian flows recovered yesterday, averaging…
ES-gas
June 16, 2021

Prices down on the spot and the curve

European spot gas prices continued their up and down movements yesterday, dropping after the rise of the previous session. On the pipeline supply side, Norwegian…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]