ICE Brent prompt contract traded above 73 $/b, as demand continued to outpace supply, according to Kpler inventories measurements. Regional price differentials are already starting to reflect these inventory dynamics. Indian demand in May dropped by 0.6 mb/d due to the resurgence of the pandemic, according to government statistics.
The weekly report from the US Department of Energy confirmed the current tightness in the oil market. US Crude oil inventories fell by 4.8mb last week and gasoline…
ICE Brent front-month continued to trade above 81 $/b, despite improving supply conditions in Kazakhstan and Lybia. Both countries are ramping up their crude production and should…
Join EnergyScan
Get more analysis and data with our Premium subscription