Saudi’s gift to US producers?

Oil
January 13, 2021

Brent prompt futures continued to hike, at 57$/b on early Wednesday as the API data showed a bigger than expected crude inventory draw in the US. Both gasoline and distillate stocks grew amid falling US demand and growing refining supply. In its latest Short-Term Energy Outlook, the EIA still predicts brent price to average 53$/b in 2021 and 2022 amid ample supplies and worsening global liquid demand.

Share this news :

You might also read :

October 20, 2021

EUAs fell below 55€/t in technical sell-off

The European power spot prices continued to drop yesterday and fell below the clean coal costs, driven down by lower clean fuels costs, the surging…

June 22, 2021

The market in search of certainty

Bond yields have rebounded, equities as well and the USD has lost some ground, the EUR/USD exchange rate returning above 1.19… before falling back below…

May 5, 2022

The European Commission presents the embargo on Russian oil

Oil rallied on Wednesday: Brent futures traded on ICE edged +4.9% higher to $110.14/b and WTI futures traded on NYMEX gained +5.3% to settle at…

Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter