Looking back at the performance of the past few weeks there is one salient question that needs to but cannot be answered instantly: are distillates going to sound the death knell of the current bull run or despite the violent nature of the contract(s) the move higher will continue unabated?
After the release of the updated monthly reports from the three most important forecasters we established that the last quarter of the year will see demand exceeding supply.
The major factor behind the latest run up in oil prices is undeniably the Saudi determination to draw down
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