EnergyScan

Light vs heavy

ICE Brent prompt contract hiked to 65.7 $/b, likely due to the sustained backwardation at the prompt. Physical differentials in West Africa continued to weaken, as the Nigerian state oil company lowered its official selling prices for its flagship crudes, as rising Brent-Dubai swaps forced producers to adjust their competitiveness to flow crude to the East. Singapore products drew on the light end side, supporting gasoline cracks in Asia. Rising fuel oil stocks in Asia and the Middle-east will deteriorate prompt fuel oil values globally. 

 
 
 
 
 
light-vs-heavy
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-oil
June 21, 2022

Oil rebounded and volumes were low

On Monday, ICE Brent front month price went 0.9% up, closing at $114.13/b. Due to a public holiday in the US, there was no settlement…
ES-economy
December 20, 2021

A gloomy end of the year

The extremely rapid spread of the Omicron variant has led the Dutch government to declare a return to lockdown. The British authorities are also openly raising this…
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?  Sign up here!

[booked-calendar]