The weekly report from the US Department of Energy confirmed the current tightness in the oil market. USCrude oil inventories fell by 4.8mb last week and gasoline and distillate inventories also fell, so that overall crude oil and product inventories are at their lowest level since 2015. Demand also appeared very strong. More details in yesterday’s News.
Oil prices rebounded to over $90/b for Brent and above $90/b for WTI, but are struggling to hold on to their gains as talk of a possible Iran nuclear deal continues. OPEC’s monthly report will be released today and we will have the stocks in Europe this time
Prices weakened again yesterday in most European gas markets, pressured by lower demand and technical selling (on the back of lower oil prices). On the pipeline…
Bond yields have declined significantly on Friday, erasing almost completely Thursday’s rise. This does not mean tensions are over: in the US, the House of…
European gas prices weakened overall yesterday, pressured by the expected rise in temperatures from today. The drop in parity prices with coal for power generation…
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