G7 leaders talk about Russian Oil
On Friday oil benchmarks moved up. ICE Brent gained 2.8% to settle at $113.12/b, while NYMEX WTI front month went 3.2% higher and closed at…
ICE Brent crude oil gained a dollar, to 67.7 $/b at the prompt, supported by a relatively constructive EIA weekly report but also strengthening cracks globally. US demand remained strong, despite a pullback in gasoline consumption, while US refiners processed 15 mb/d of crude last week. US crude production remained pegged to 11 mb/d, which should continue to incentivize greater crude imports.
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