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
February 14, 2022

Flight to safety

Tensions rose sharply on Friday when a US official said that a Russian attack on Ukraine appeared imminent and could take place before the end of…
ES-oil
May 3, 2022

Another day of reversing market

Oil prices went up yesterday: on NYMEX, WTI front month gained less than 0.1%, ending at $105.17/b. On ICE, Brent price was +0.4% up to…
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]