Physical crude trade picks up

Crude oil prices remained stable on Thursday, at 63 $/b for the prompt ICE Brent contract. Looking at refined products, prompt ICE gasoil crack is now above 5 $/b and slow recovery from last month’s slump. Low physical spot prices globally triggered Indian buyers to bid on West African cargoes. Biodiesel prices in the US are likely to remain sustained as supply remains low due to rising prices in alternative agricultural markets. 

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April 26, 2021

Indian product storage to be monitored

ICE Brent prompt contract declined to 65.3 $/b, on early Monday, as Indian demand continued to be the key downside risk, as mobility data continued…
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