Sharp rebound in crude oil prices

Brent 1st-nearby prices posted a $4/b gain yesterday. WTI prices did about the same. They respectively ended the day above $64.5/b and $61.2/b, therefore erasing their losses of the previous day. The main reason was the Suez canal still blocked by a giant ship that has deviated from its course for unclear reasons. Then, the release of the weekly EIA report in the US showed a new rise in inventories but normalization in demand from refineries as well, therefore pushing prices higher.

us-refining-capacity-utilization
Share this news :

You might also read :

ES-economy
June 29, 2022

There is renewed concern

The US equity markets fell again yesterday, this time more sharply (-2% for the S&P 500 and -3% for the Nasdaq). The sharp decline in the…
ES-oil
November 26, 2021

Outright crude crashes

By falling below 80 $/b, ICE Brent front-month future declined by close to 4.5% within a day. Yet, front-month time spreads remained supported, at 127…
ES-oil
October 6, 2021

Loose physical crude markets

Crude prices rallied yesterday, with front-month ICE Brent futures reaching 83 $/b, as natural gas prices soared in Europe and Asia, putting pressure on diesel…
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? 

[booked-calendar]