US stimulus package lifts hopes

Oil
January 12, 2021

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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US stimulus package lifts hopes

You might also read :

Vaccines and stimulus measures keep on fueling optimism

EUAs posted further gains on lingering gas market’s strength

EUAs rebounded after the Polish auction presented a strong demand

Simplifying energy markets