European vaccination stops, pushing ICE gasoil cracks down
ICE Brent prices dipped on Monday as European countries such as France, Germany and Italy stopped vaccination campaigns with AstraZeneca’s vaccine, concerned by potential side…
Brent prompt month futures remained range-bound on early Monday, as newly implemented European travel restrictions were anticipated to reduce gasoline and jet demand in February. Furthermore, lower speculative demand on WTI contract is likely to have eased upward flat price pressure, as shown by the latest CTFC report. Finally, Saudi official selling prices are expected to dip lower, compared to the benchmark, as Asian demand looks increasingly uncertain.
Get more analysis and data with our Premium subscription
Ask for a free trial here
We will get back in touch with you soon.
Don’t forget to follow us on twitter!