Competition between Europe and Asia continued to drive prices up
European gas prices increased again strongly yesterday, still supported by concerns on low Russian supply and weak stock levels. On the spot pipeline supply side,…
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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