If those with bullish propensity were looking for a gentle nudge or excuse to liquidate some of their lengths built up in the last 2-3 months, the inspiration came from a very disappointing set of US stock data.
Whilst the underlying risk is currently firmly skewed to the upside the daily activity in the oil market, it appears, is almost exclusively dominated by the perpetually changing view on the distillate/crude oil spread.
Oil steps into the morning firm but with an air of uncertainty as it faces a few days and news cycles that will have a great influence on its current destiny.
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