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September Brent fell $1.44/b to $74.44/b while European gasoline cracks rose. US gasoline stocks built 1 million barrels, and implied demand slipped to 9.28 million bpd from a record high the prior week.
Weaker crude with firm product cracks signals refiners are keeping margins, while lower US demand and stock builds point to softer energy prices.
qcintel.comJul 15, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
