EnergyScan

US inventories drop, helping WTI-Brent spreads

Brent prompt future price consolidated at 61 $/b, amid an increasingly bullish US crude market, pushing US grades higher compared to North Sea values. However, US gasoline stocks builds were larger than expected, with US mobility likely impacted by cold weather. Russian crude oil output could be lower in February, as the first 10 days of production are at 10.11 mb/d. At the same time, the Asian physical crude market is firming up, with OSPs being maintained at January’s differentials and Far East crude grades rallying. 

us-crude-11
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-oil
December 24, 2021

Strength from the East

Crude time spreads gave a boost to the crude complex, by hiking to 25 cents backwardation at the prompt, while front-month ICE Brent crude reached…
ES-power
May 18, 2021

EUAs took a breath from last week’s rally

The European power spot prices remained rather stable yesterday, torn between expectations of higher power demand and weaker wind production, and forecasts of improved French…
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?  Sign up here!

[booked-calendar]