Large crude builds in the US spark concerns over the crude market imbalance

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. 

us-gasoline-ending-stocks
Share this news :

You might also read :

ES-power
April 5, 2022

Neutral carbon and easing power prices

The NWE power spot prices observed mixed variations yesterday, the French prices strongly correcting downward from its peak amid forecasts of lower demand and improved…
ES-oil
April 29, 2022

Germany moves closer to ban Russian oil

Oil prices rallied on Thursday. The ICE Brent front-month end the day at $107.59/b a 2.1% increase and NYMEX WTI front-month closed 3.3% higher at…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]