Large crude builds in the US spark concerns over the crude market imbalance
Oil
March 10, 2021
ICE Brent crude prompt future continued to weaken towards 67 $/b mainly due to a rather bearish API data survey, showing that the US crude market continued to be strongly oversupplied, while Texan refineries struggled to ramp up output. Japanese markets showed weakness too, as refining runs struggled to ramp-up despite falling oil products inventories.
European gas prices extended losses yesterday, still pressured by weak demand and strong LNG supply. The drop in coal prices (-4.37% for API2 1st nearby prices,…
European gas prices rebounded yesterday, supported by cold weather and the US State Department decision to impose sanctions on a Russia-linked company and its work…
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