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Crude oil futures are expected to continue rising this week Jan. 17-21 as tightening supply and demand fundamentals keep investors bullish on oil. The front month ICE Brent and NYMEX light sweet crude futures contracts were not far from 3 and 7-year highs, respectively, which were hit in late October. At 0230 GMT Jan. 17, . ....
JAPAN DATA: Refiners ramp up light crude imports in Nov for kerosene output Japan’s crude oil imports in November increased from October, with shipments from Qatar, Russia and Malaysia posting sharp gains as refiners favored middle distillate-rich crude grades in an effort to boost kerosene output amid colder-than-average temperatures nationwide. November crude oil imports rose 1.9% month on month to 2.3 million b/d in November, latest data from the Ministry of Economy, Trade and Industry showed. However, the total was down 21.7% year on year as overall refinery run rates remain lower than in 2019 amid tepid transportation fuel demand due to the pandemic. ....