The US power industry has been making steady progress reducing greenhouse gas emissions, with power sector carbon dioxide emissions decreasing about 10% between 2019 and 2020 because of a mixture of pandemic impacts, energy efficiency and fuel switching away from coal, a July 20 report said.

Outright gasoil prices in Europe have fallen to an eight-week low, on the back of losses in the ICE LSGO futures market, but trading sources said the drop is unlikely to bolster moribund demand in the inland market.

Crude oil futures rebounded somewhat July 20 after the biggest single-day drop in prices of 2021, signaling the day prior was a bit of an overcorrection and also anticipating more bullish US inventories data this week.

The European ultra low sulfur diesel market is well balanced, with summer demand ticking up, particularly in the Mediterranean, according to traders.

European traders continue to report the arbitrage from the US Gulf Coast as closed, however the European market remains well balanced, with Asian barrels and local production meeting the rising summer demand.

**Brent crude seen averaging $80/b in Q4 2021 **Platts Analytics sees Brent under $70/b in Q4

With the market still reeling from the previous day's movement, quiet after the crash was to be expected, according to analysts.

Saudi Arabia's exports of crude in May rebounded from April's 10-month low, figures from the Joint Organizations Data Initiative showed, as the kingdom began to gradually unwind a voluntary extra 1 million b/d production cut with global oil demand perking up.