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Crude oil prices

European distillate oversupply means some shippers take the long route around Africa

In Europe, the combination of low winter heating demand, high refinery runs, and increased imports have kept distillate fuel oil inventories in the Amsterdam, Rotterdam, and Antwerp (ARA) area far above normal. Higher inventories have lowered distillate futures prices in the ARA area to a point where inventories are being held in floating storage and […]

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IEA says oil market to remain oversupplied until late 2016

As oversupply, mild temperatures and grim economic news check growth demand, non-OPEC output falls year-on-year for first time since 2012 Exceptionally mild temperatures in the early part of the winter in Japan, Europe and the United States – alongside weak economic sentiment in China, Brazil, Russia and other commodity-dependent economies – saw global oil demand […]

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Crude oil prices started 2015 relatively low, ended the year lower

Crude oil prices ended 2015 below $40 per barrel (b), the lowest level since early 2009. Spot prices for the international crude oil benchmark Brent averaged $52/b in 2015, 53% below the level in 2014 and 49% below the average price over 2010-14. Spot prices for West Texas Intermediate (WTI) crude oil were also down […]

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