Friday, 17 June 2011 12:15

Crisis in Nordwesthern Europe

Brent crude price is climbing up again, but the refining margins of Northwest Europe show their lowest levels 2011.

Although Brent has gained in the Nordsee and mostly in Europe, there are lesser and lesser refineries that buy this type of oil. The actual situation shows really frightening signs. The refinery margins reached a level, by that generally they got closed for some time. As a source from one of Europe's main refiners said, Brent crude price is too high, nobody is buying it. And if they don't buy, they don't have what to refine. Simple and sad.

As statistics show, Brent actual price amounts $117.10 per barrel, which means a raise from about $0.11, 0,12%. And the value is still on high course.

Source: http://www.platts.com/NewsFeature/2011/refining/index

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