Turnarounds send crude down

摘要

Oil prices fell, as a heavy refinery turnaround programme and high products stocks offset the effects of unrest in the Middle East and lower US crude output. Atlantic basin marker North Sea Dated fell by almost $4/ bl to below $48/bl in the week to 15 October, while US light sweet marker November WTI was down by over $3/bl at $46.38/bl. The EIA says in its latest report that refinery maintenance and higher imports contributed to a 7.6mn bl rise in US commercial crude stocks in the week to 9 October.