Oil prices were higher today trading up to four month highs on lower crude exports from some OPEC countries. Both contracts closed at their highest price since late October while gasoline futures closed at their highest since August. In Russia, meanwhile, Ukrainian attacks on energy infrastructure have idled around 7% of refining capacity in the first quarter, according to a Reuters analysis. Market participants said refinery outages will push Russia to increase oil exports through its western ports in March by almost 200,000 bpd to around 2.15 million bpd. China’s crude oil throughput in January and February rose 3% compared to the same two months a year earlier as refineries raised production to meet strong demand for transport fuels over the busy Lunar New Year travel period. WTI traded up $1.68 or 2.1% to close at $82.72. Brent traded up $1.55 or 1.8% to close at $86.89.

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stampede
swars
  • Where: Moody Gardens Hotel and Convention Center
  • Attending: Curtis Chandler (239.405.3365) David Cohen (954-729-4774)
  • Conference Website