April 2021

China said in its 2021-2025 five-year plan published in March that it would continue to promote the “clean and efficient use of coal”.

U.S. commercial crude oil inventories decreased by 5.9 million barrels to 492.4 million barrels.

Brent rose 85 cents, or 1.3%, to $64.52 a barrel. WTI added 82 cents, or 1.4%, to $61 a barrel.

In 2021, world oil demand growth is expected to increase by about 6.0 mb/d y-o-y, representing an upward revision of about 0.1 mb/d from last month’s report.

Higher prices are buoying drillers’ confidence. Benchmark Nymex oil gained nearly 35% in the past four months after OPEC and its alliance cut production to strike a balance between demand and supply. The fossil fuel is also getting a bump as Covid-19 vaccinations progress and Americans travel again, boosting gasoline consumption.

The financing for the EU economic plan, agreed at 750 billion euros in 2018 prices, but totalling around 800 billion euros at current prices,

The investments financed 19.6 GW of capacity that will be constructed in the coming years. Around 13 GW of this will be in the EU.

President Biden recently introduced a massive infrastructure bill designed to reshape the U.S. economy while addressing infrastructure reform. Biden’s stated goal is to achieve 100 percent carbon-free power by 2035.

Those actions, along with Congress passing support for the US uranium reserve, are "really reinvigorating" the entire US fuel supply chain and could allow the country to be a leading global supplier of advanced fuels,

Brent were up 37 cents, or 0.6%, at $63.65 a barrel. WTI gained 32 cents, or 0.5%, to $60.02 a barrel.