Commodity Update March 15, 2021: Brent Maintains at $70, GRM Has Yet to Recover

Commodity update as of 9.26 local time in Thailand on March 15, 2021

 

Crude oil prices remained at a higher level around $70 per barrel, but gross refinery margin has yet to recover amid the resurgence of coronavirus in Europe. Italy returned to lockdown, while Germany declared the third wave of coronavirus.

Meanwhile, natural gas dropped more than 4% in five days due to the prospects of lower demand due to warmer weather outlook.