Page 11 - Platts Dated Brent News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Asia crude – Key market indicators this week The Asian crude oil market was trading lower at the start of the week ending Jan. 30, as rising coronavirus cases in the Asia-Pacific region and in Europe weighed on demand outlook. March ICE Brent crude futures was pegged at $55.25/b at 0300 GMT Jan. 25, down 7 cents/b from the Asian close Jan. 22. Middle East crude **Trade activity for March-loading cargoes is likely to ease in the week of Jan. 25, as the month draws to a close and purchases by Asian buyers near completion, although some prompt demand could emerge. **The previous week saw deman...

An asymmetrical oil market searches for balance The physical oil market is responding unevenly to the recent rally in crude futures, with a healthy dose of skepticism and sanguinity. The divergent paths of some crudes and refined products has led some traders and analysts to question whether the 25% rise in oil prices over the past month can be sustained. The Platts Dated Brent benchmark rose to over a nine-month high of $51.97/b on Dec. 18, but traders expect some resistance to the recovery this week. ICE Brent futures dipped below $50/b on Dec. 21 amid concerns that a new strain of the coro...

Crude loadings, tankers unaffected as countries close borders to UK over COVID-19 variant UK oil and container shipments, including crude oil loadings, are continuing as normal and have not been affected by new European restrictions on truck drivers in response to a new strain of the coronavirus found in the Britain, port and oil company officials said Dec. 21. Ineos, which operates the UK’s largest crude oil supply pipeline Forties and the Hound Point loading terminal, told S&P Global Platts: “We remain open and continue to transport these raw materials on behalf of our customers.” For...