Crude prices take a hit

摘要

Crude prices fell sharply on demand concerns, but pockets of strength emerged in European products markets as mobility data suggest some return to normality. Physical crude benchmarks tumbled in the week to 19 August. Atlantic basin benchmark North Sea Dated fell by $5.50/bl to $66.02/bl, while US marker WTI shed $5.40/bl to end at $63.69/bl despite a second consecutive — and much sharper — weekly drop in US crude stocks, of 470,000 b/d for the week ending 13 August. Mideast Gulf marker Dubai lost $5.49/bl, ending the week at $64.68/bl.