Crude prices rally, supported by product markets

  • Oil

Brent prompt futures reached 59 $/b on early Thursday, despite a rally in the dollar as global inventories dwindled and OPEC+ member were renewing their commitments towards a swift market rebalancing. However, the crude draws in the US were combined with a surge in gasoline stocks, as US demand continues to disappoint. 

Share this news :

You might also read :

ES-oil
July 7, 2021

Spread vs outright

ICE Brent and WTI’s entire forward curve sold off yesterday by about 3$/b, as the whole commodity complex suffered from a continued rise of the dollar.…
ES-gas
May 6, 2021

European prices up on the spot and the curve

European spot gas prices extended gains overall yesterday. In addition to above-normal demand, lower pipeline supply contributed to tighten gas systems further. Indeed, due to…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

START A FREE TRIAL
Subscribe to our newsletter
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]