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Crude oil prices

The European Crude Oil market had shown mixed prospects during the third quarter of 2021. Energy shortages in the European region continue to impact oil markets, with diesel futures in deep backwardation, driven by a switch to gasoil/diesel for power generation in Q3. Demand remained robust throughout the quarter. June spot prices of European Brent Crude were assessed at USD 74.92 per barrel.

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Crude oil prices

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  1. ABOUT - CRUDE OIL Crude oil, also known as petroleum, is a naturally found fossil fuel composed of hydrocarbons which is found beneath the earth surface in a special geological place. crude oil is refined to obtain crucial usable products like petrol/gasoline, diesel, lpg, kerosine, aviation fuel etc. since it is a non-renewable source of energy, there exists only limited number of its stocks. crude oil provides wide range of important products and has been in high demand from many decades, that is why it is becoming difficult retain it for several more centuries. crude oil refining is done in the given steps, desalting, distillation, down streaming process, and purification. as of the now, major crude oil producing countries are usa, saudi arabia, russia, canada etc.

  2. CRUDE OIL PRICE TREND AND FORECAST CRUDE OIL PRICE TREND AND FORECAST North The North prospects in Q3 of 2021. Hurricane Ida which made its landfall near Port Fourchon on the Gulf coast in the last week of August had taken offline 96% of crude oil and 94% of natural gas production in the U.S. federally administered areas of the Gulf of Mexico (GOM), according to estimates by the U.S. Department of Interior’s Bureau of Safety and Environmental Enforcement. At least nine refineries had either shut down or had reduced production of Crude oil. The gross inputs into Gulf Coast refineries fell by 1.6 million b/d from the week ending August 27 to the week ending September 3. Many refineries had resumed operations by September end. NorthAmerica North American America American crude crude oil oil market market had experienced mixed

  3. MARKET OVERVIEW: MARKET OVERVIEW: Asia Pacific In the third quarter of 2021, the demand for Crude Oil remained moderate to high in the Asia Pacific region. The Chinese government’s 9th September decision to auction crude oil stocks from reserves is anticipated to reduce imports by at least 2% y-o-y. In lieu of the new policy, the government had conducted its first auction on 24th September where 7.38 million barrels were offloaded from the state reserves. The government is likely to offload more crude oil stocks in future auctions. With this move, China seemed ready to influence the globe crude market openly as the world's top crude importer with the biggest crude inventory auctions of times. In India, the price of Crude oil was last assessed at USD 75.03 per barrel in September, showing an increase of USD 6.53 per barrel within the third quarter of 2021. Europe The European Crude Oil market had shown mixed prospects during the third quarter of 2021. Energy shortages in the European region continue to impact oil markets, with diesel futures in deep backwardation, driven by a switch to gasoil/diesel for power generation in Q3. Demand remained robust throughout the quarter. June spot prices of European Brent Crude were assessed at USD 74.92 per barrel.

  4. PRODUCT SPECIFIC DETAILS: PRODUCT SPECIFIC DETAILS:- - CAS No: HS Code: Grade: Contract Size: PackagingType: 8002-05-9 270900 Brent,WTI,Nymex 42,000 gallons Drum/Tankers/Barrels

  5. FOR MORE INFORMATION: • Website: www.chemanalyst.com • Email Us: sales@chemanalyst.com • Contact Us: +1-646-862-0089

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