US crude draws maintain prices

Brent prompt prices stayed at 61$/b on Monday and early Tuesday led by a drop in US crude oil inventories of 3.5 mb, according to the API survey. Indian fuel demand saw its first monthly decline in January, led by jet fuel losses. Indian refining runs should be slightly lower than 5 mb/d in January. Exxon will be closing a refinery in Australia despite government support, as competition in the Asian refining space remains fierce. The Saudi economy shrank by 3.8% in Q4 20, as crude oil production restriction and mobility restriction hampered growth. 

Share this news :

You might also read :

June 1, 2021

European prices rebounded

In a rather quiet trading session as the UK market was closed, continental Europe gas prices rebounded yesterday as the bearish impact of the rise…
December 7, 2021

Cal 2022 prices continue to increase

European spot gas prices were mixed yesterday, amid almost unchanged fundamentals. Norwegian flows were up yesterday, averaging 350 mm cm/day, compared to 344 mm cm/day…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

EnergyScan - Newsletter subscription

Don’t have an account yet?