Large unexpected drops in US stocks reported

Oil
May 5, 2021

ICE Brent prompt prices jumped to 69.5 $/b, as the API survey showed a total decline of 16 mb. Due to large stock draws in gasoline and diesel stocks, combined with record-high prices for biofuel blending components, the US product cracks continued to rise, with RBOB gasoline cracks close to the 25$/b mark.

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Large unexpected drops in US stocks reported

You might also read :

Prices up on the spot, down on the far curve

EUA extended their bullish trend towards 50€/t on further speculative buying

Positive market reaction to Fed and ECB meetings

Simplifying energy markets