US markets may rebalance faster than expected

Oil
March 17, 2021

Brent futures prices recovered as of early Wednesday, at 68.8 $/b as the API survey showed a surprise draw in crude oil stocks, demonstrating a faster rebalancing of the US crude market. Japanese weekly statistics showed a continued recovery in refining runs. Imports were likely up as commercial crude stocks rose by 1 mb. European and Asian middle distillate cracks continued to edge lower, pushing refining margins at concerning levels.

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US markets may rebalance faster than expected

You might also read :

European gas prices mixed yesterday

Economic rebound threatened by the Indian variant and inflation

Financial markets caught between hopes of stronger fiscal stimulus in the US and prolonged lockdown in Europe

Simplifying energy markets