Improving outlook for China

Oil
January 27, 2021

Brent futures prices edged higher at 56.3 $/b for the front-month contract, as the API survey reported a sizable draw in crude oil inventories. At the same time, Chinese official statistics on daily coronavirus cases trended lower, at 75. Japanese refinery utilization rates rose back to 80% this week, underlying the heating demand in the archipelago.

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Improving outlook for China

You might also read :

EUAs broke above all-time high on combination of bullish factors

Adverse weather in the Gulf Coast could limit the crude intake

Power prices were buoyed by the bullish fuel complex amid coming Russian oil ban and anticipation of military escalation

Simplifying energy markets