US Weekly Petroleum Status Report

US commercial crude stocks declined again last week. However, with both implied demand for most products and refinery activity close to pre-pandemic levels, we think the pace of draws will stabilise.
Adam Hoyes Assistant Economist
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Energy Update

Three potential catalysts for lower European gas prices

A mild winter in the Northern Hemisphere, a substitution of gas for other fuels in electricity generation, and/or a rise in supply via Nord Stream 2 could all send European gas prices lower in the months ahead. But even if prices start to fall back soon, we still think they will remain elevated until at least Q2 2022.

24 September 2021

Energy Data Response

US Weekly Petroleum Status Report

US crude stocks have continued to fall as refinery activity has so far recovered faster than crude output following Hurricane Ida. And with demand already broadly back to pre-pandemic levels, US crude stocks are likely to fall further in the weeks ahead, which should support oil prices.

Drop-In: Evergrande – What are the risks to China and the world? Chief Asia Economist Mark Williams and Senior China Economist Julian Evans-Pritchard will be joined by Senior Markets Economist Oliver Jones to take your questions about the Evergrande situation. They’ll be covering the implications of collapse for China’s financial system and growth outlook, and assessing the global markets fallout. Register here for the 0900 BST/1600 HKT session on Thursday, 23rd September.

22 September 2021

Energy Data Response

US Weekly Petroleum Status Report

There were hefty falls in both crude and petroleum product stocks, reflecting closed production capacity due to damage caused by Hurricane Ida. Implied gasoline demand also dropped back but it is impossible to know whether that reflected soft underlying demand or a lack of product owing to refinery closures.

15 September 2021

More from Adam Hoyes

Precious Metals Update

We still think gold will lose its shine

After rallying from April onwards, the price of gold has dropped back in recent weeks. We expect the price of gold to fall further over the next couple of years as long-dated US real yields climb.

30 June 2021

Energy Update

Oil demand to rise, but it won’t stop prices falling

Global oil demand looks to have held up much better so far in 2021 than during 2020, despite a resurgence of COVID infections in many parts of the world. We expect strong oil demand growth to continue for the rest of the year, but this won’t stop rising supply pushing oil prices lower by end-year.

17 June 2021

Energy Data Response

US Weekly Petroleum Status Report

US commercial crude stocks fell again last week, in part due to higher refinery activity. However, rising product stocks and lower product demand suggest the downward trend in crude stocks may slow soon.

9 June 2021
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