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Demand Recovery Indicators Prove No Match For Covid Fears As Oil Prices Drop 2% by Ship & Bunker News Team Wednesday April 21, 2021 Continued worry that global oil demand will be impacted by rising Covid infections in India and some parts of Asia once again caused crude prices to drop on Wednesday, this time by 2 percent - even though the demand recovery that began in earnest upon the rollout of the vaccines continued. Prices were also affected by data from the American Petroleum Institute showing 436,000 barrels in the week ended April 16, according to two market sources. Brent declined $1.28, or Bill O’Grady, Confluence Investment Management ....
Oil Bulls Buoyed by Chinese Traffic Jams and Busy Factories yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
El mayor importador de petróleo del mundo se está quedando sin capacidad de almacenamiento reporteenergia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reporteenergia.com Daily Mail and Mail on Sunday newspapers.
The amount includes both strategic and commercial inventories, the Bloomberg source said. Data compiled by oil data analytics company OilX (that is powered by local insights from SIA Energy) shows Chinese storage at close to 1.1 billion barrels and has been growing again after a decline in December 2020, with massive imports during February 2021, OilX chief executive Florian Thaler told Oilprice.com. OilX also noted that the Chinese SPR has been full to the brim since October 2020 at around 380 million barrels. Some of the SPR effectively had to be going into leased commercial storage, the analytics firm said. China went on an oil-buying spree last year when international prices tanked to stock up on the vital commodity. However, as inventories built up, concern emerged that the world’s second-largest consumer of oil could run out of storage space, which would have hurt prices. ....