WTI (Oct) $78.39 -$1.46, Brent (Oct) $83.21 -82c, Diff -$4.82 +43c
USNG (Sep) $2.49 -7c, UKNG (Sep) 76.5p -27.5p, TTF (Sep) €31.605 -€10.63

Oil price

After yesterday’s blog debacle I can reprise that PMI data was very mixed, bad in Europe and Australia and good in Japan whilst discussions are continuing about the Ceyhan pipeline in Ankara.

The inventory stats were actually very positive, the EIA crude draw was 6.134m barrels and with refinery runs slightly down but at a high level of 94.5% gasoline stocks added 1.468m and distillates increased by 945/- b’s.

Finally gas prices fell sharply as rumours swirled around that gas workers in Australia had settled their claim, this was made worse by very high European gas storage data.

Access Malcolm Graham Wood's full update here.   l   KeyFacts Energy Industry Directory: Malcy's Blog