US refinery runs could be depressed for weeks
- Oil
- February 19, 2021
Brent prompt future contract came back to 63.2 $/b, led by a patchy restart of the Texan oil infrastructure. Damages to refineries appear to be greater than previously anticipated, casting doubt on the future US refining runs. Furthermore, futures prices came under renewed pressure from the potential revival of the Iranian nuclear deal, as the US showed a willingness to rejoin the deal as is. The EIA release of the week prior to the Texan energy crisis showed a bullish picture for US petroleum markets, with a 7 mb crude inventory draw and a recovery of the US gasoline demand.
Share this news :
You might also read :
The European power spot prices inched up yesterday as the expectations of lower French nuclear availability offset the forecasts of stronger wind output and weaker…
May 5, 2021
Large unexpected drops in US stocks reported
ICE Brent prompt prices jumped to 69.5 $/b, as the API survey showed a total decline of 16 mb. Due to large stock draws in…
March 18, 2021
Margins collapse
Crude prices continued to weaken on Wednesday despite the dollar edging lower, as the physical market’s weakness filtered through the futures’ market. Weak physical crude…
Subscribe to our newsletter