Feed the raw materials: Risk-off trend intensified | Article

Oil prices could not miss a broader risk procession if they are intensive sale of US stocks and global growth problems. Ice Brent settled a little more than 1.5% during the day. A somewhat bearish publication of the International Energy Agency (IEA) hardly helped.

In its most recent monthly oil market report, the IEA emphasized risks, which represent commercial and tariff uncertainty for oil demand. The agency expects global oil demand to grow by a little more than 1 MB/D in 2025. The IEA estimates for the growth of the IEA for the fourth quarter of 2024 and the first quarter of 2025. It estimates that the global oil supply in February rose by 240,000 b/d as an Opec+and in particular Kazakhstan, an recording recording, a recording recording. The non-OPEC+ Supply is expected to grow by around 1.5 MB/D this year, while Opec+ Supply depends on what the group does with offer of offers after April. The IEA predicts that the global oil market will be in a 600,000 B/D surplus in 2025. There is a risk that this will grow to 1 MB/D if Opec+ processing stops the year.

The Ice Gasoil Crack is still under pressure and acts under the trade below 17 US dollars per BBL and this year at the lowest level. An improved middle distillate flows through the Suez Canal, which became deeper the movement in the crack. Another weakness can be limited, however, since the Gasoil shares of Amsterdam-Rotterdam-Antwerp (ARA) have decreased 5 consecutive weeks and have dropped to 2.27 MT by 95th in the last week.

The USERDGASSPEISTER fell more than expected in the past week. Data from the energy information management (EIA) show that the RAM has dropped by 62BCF, more than 50 BCF that the market had expected. The total storage is now 11.9% below the five -year average. The publication provided some short -term support for the market. However, forecasts for warmer weather about parts of the United States made it short -lived.