Oil Product Prices Surge, Crude Remains Weak
Update: 2025-11-20
Description
Energy markets are experiencing shifts, with Indian refiners reducing Russian oil imports, causing a surge in refined oil product prices. Gasoil, a vital fuel for farm equipment and generators, is particularly affected. U.S. gasoline and distillate inventories are at low levels, setting the stage for strong product prices during the winter season. Despite geopolitical tensions, crude oil prices remain weak, with Brent crude trading at around $63 per barrel. The upcoming winter weather is expected to impact crude oil transportation, potentially slowing Russian exports after the November 21st sanctions deadline. In the U.S., natural gas prices are high due to strong demand and expectations of a cold winter, while European prices are falling due to warmer weather.
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