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Middle East crude prices fell sharply, with Dubai cash for September assessed at $68.64/b, down $3.01. Light-end gasoline cracks eased on COVID concerns, while China's teapot refiners faced tight import quotas and a possible resale of 20 million barrels from storage.
COVID-related demand worries and Chinese import constraints weigh on crude and product demand in Asia, pressuring Brent and Dubai benchmarks lower.
qcintel.comJul 21, 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.
