Supply-side market

ICE Brent prompt contract remained at in the mid 75 $/b, as the EIA weekly report depicted a rather tight US crude market. Cushing drew by 1.8 mb, prompting questions about how fast this storage point would draw in 2021, given the lack of onshore US crude production. European refining margins remained constrained, below 5$/b for cracking Forties crude, limited by diesel inflows from Asia and ample diesel stocks. 

NWE cracking margins - Forties crude
Share this news :

You might also read :

ES-economy
July 19, 2021

Fear of the delta variant prevails

After US equities recorded their first decline in 4 weeks last week, Asian markets fell on growing concerns over the quick spread of the Covid delta…
ES-oil
May 27, 2021

Stocks depletion at risk

ICE Brent prompt prices weakened at 68.4 $/b, as the dollar rebounded. Fundamentals remain somewhat weak, as Japanese commercial stocks built, amid a continued drop…
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]