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.

Share this news :

You might also read :

February 24, 2021

Fed President expresses confidence in the recovery, but sees no change in the current policy

The rise in bond yields is not worrying according to Jerome Powell as it reflects greater confidence in the US economic recovery. The surge in…

November 19, 2021

Diesel sails West

Coordinated SPR releases continue to be the hot topic for crude markets, with China expected to release light sweet crude stocks, in line with the destocking…

September 21, 2021

US crude supply revised down due to structural damage

ICE Brent crude prices edged higher today, expanding by 1.2%, after a volatile downward move yesterday, likely due to the continued selling pressure in global equity…

Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Large unexpected drops in US stocks reported

You might also read :

Fed President expresses confidence in the recovery, but sees no change in the current policy

Diesel sails West

US crude supply revised down due to structural damage

Simplifying energy markets