Indian risk factor

Oil
April 21, 2021

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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