Crude rebounds in late February

摘要

Crude oil prices in February fell back from the recentpeaks of late January, with international crude oilmarker Dated Brent dropping from just over $70/b to$61.52 February 13. However, the upward trend resumedin the second half of the month, with Dated Brentrebounding to $67.18/b February 27. With NorthEuropean demand relatively muted, traders have beenfixing VLCCs to take North Sea crude grades into Asiahelped by lower freight rates.