European gas prices rebounded
European gas prices increased yesterday, more sensitive to falling temperatures (which are now expected to briefly drop below normal during the weekend) to the rise…
Crude prices continued to weaken on Wednesday despite the dollar edging lower, as the physical market’s weakness filtered through the futures’ market. Weak physical crude markets were combined with crashing diesel cracks, at the centre of refiners’ profitability. US petroleum stocks, reported by the EIA, showed a 3.6 mb build across crude and products. Sustained low refining runs continued to limit the demand side of the crude market. Gasoline shortages were resolved by a massive increase in imports, which will likely maintain cracks at elevated levels.
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