European prices rebounded
European gas prices rebounded yesterday, supported by forecasts of colder weather in some countries and tight pipeline supply. The strong rise in parity prices with…
Brent prompt contract regained Monday’s losses to reach 56 $/b, despite a strengthening dollar. At the same time, diesel margins progressed higher in Europe and Asia. The US stimulus suggested by President Biden’s team is expected to lift US consumer spending earlier than expected, hence improving distillates and gasoline demand. Saudi Arabia will upgrade its on-road diesel specification to international standards this year, reorganizing product export flows.
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