Best in Energy – 5 May 2023

India/Russia currency settlements (Reuters)

Westinghouse plans small reactors (Reuters)

India to curtail new coal generators (Reuters)

Arctic ocean territorial disputes (Bloomberg)

China’s nascent carrier capability (Reuters)

Oil consumption growth (Bloomberg)

U.S. consumer spending (Bloomberg)

U.S. home energy consumption (EIA)

U.S. DIESEL crack spreads continue to soften as traders anticipate a cyclical slowdown in consumption and recovery in inventories, as well as global increases in refinery capacity. The crack spread for diesel delivered in December 2023 compared with Brent has fallen to around $180 per tonne from $260 at the start of 2023 and a record $316 in mid-October 2022. The average was around $145-150 in 2021 before Russia’s invasion of Ukraine:

Published by

John Kemp

Energy analyst, public policy specialist, amateur historian