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COVID-19 - News digest as of 04.06.2021

June 04/2021

1. Indonesia biodiesel consumption down 8.2% in Jan-Apr 2021

MOSCOW (MRC) -- Indonesia's consumption of biodiesel fell by 8.2% year on year in the first four months of 2021, data from the country's producers' association showed, as transportation demand remained muted due to the coronavirus pandemic, reported Reuters. Domestic consumption of biodiesel was 2.669 million kilolitres in the January to April period, down from 2.907 million kilolitres last year, according to the Indonesian biodiesel producers' association (Aprobi). "Transportation movement has still not recovered to 2019 levels," Paulus Tjakrawan, vice chairman of Aprobi told Reuters.

2. Crude oil futures drop in Asia on mixed EIA data, stronger dollar

MOSCOW (MRC) -- Crude oil futures were lower during mid-morning trade in Asia June 4 as the market used mixed data from the Energy Information Administration as an excuse to lock in profits following the recent surge in oil prices, while a stronger dollar provided further headwinds for the market, reported S&P Global. At 11:06 am Singapore time (0306 GMT), the ICE Brent August contract was down 26 cents/b (0.36%) from the previous settle at USD71.05/b, while the July NYMEX light sweet crude contract was down 19 cents/b (0.28%) at USD68.62/b. Data from the EIA released late June 3 was mixed, as it showed a draw in US commercial crude inventories, but builds in US product inventories. Rising refinery demand coupled with lower production saw crude stocks fall 5.08 million barrels to 479.27 million barrels in the week ended May 28, the data showed. Crude stocks are at its lowest since the week ended Feb. 19, nearly 3% behind the five-year average.
Author:Margaret Volkova
Tags:Asia, crude and gaz condensate, petrochemistry, COVID-19, Indonesia, USA.
Category:General News
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