Spot Cargo Markets

China's Emergency Stock Release Spooks Markets

Copyright © 2021 Energy Intelligence Group

China’s emergency crude stock release spooked oil markets. International benchmark Brent shed almost $2 per barrel in intra-day trade Thursday to end the week down $1.58/bbl at $71.45/bbl. US price-pin West Texas Intermediate lost $1.85/bbl over the week to close at $68.14/bbl with a sharp drop in US domestic inventories failing to offer any support to prices. US crude and product stocks all fell sharply last week after Hurricane Ida shuttered Gulf of Mexico production and Gulf Coast refining. The muted market response has been partly blamed on the end of the summer driving season and an expected fall in mainstay US gasoline demand.

White House support for sustainable aviation fuels puts US airlines on a clear pathway toward net-zero carbon emissions by 2050.
Fri, Sep 17, 2021
Public pressure and high natural gas prices may not be enough to solve the methane waste problem plaguing the Permian Basin.
Fri, Sep 17, 2021
Most Read
Production of hydrocarbon liquids outside the Opec-plus alliance will peak in 2025, our medium-term outlook shows, the inevitable result of lower investments upstream.
Thu, Sep 16, 2021