Confliciting messages
Yesterday’s Short Term Energy Outlook published by the EIA showed a relatively balanced global oil market, with stock builds in H1 22, which was a…
Crude oil prices pulled back to 66.3 $/b as the exponential growth of the pandemic in India continued to lower demand expectations for the third-biggest crude oil importer. The API survey showed a small build in crude stocks as US refining throughput declined slightly while gasoline inventories dropped by 1.6 mb. Japanese runs continued to edge lower, reflecting the demand weakness the archipelago currently faces.
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