ICE Brent crude oil remained at 68.9 $/b, as the API survey showed a continued drop in US crude stocks while refined product stocks dipped by a combined 7 mb, highlighting the strength of the US refined product market. European refining runs were recorded at 8.6 mb/d in April, only above last year’s slump by 2.5%.
The forecasts of strong renewable production offset the expectations of higher power demand induced by the falling temperatures and pressured the European power spot prices…
Brent futures prices continue to be under pressure across the curve as rising coronavirus cases in China clouds the outlook for demand. Physical crude grades…