Margins collapse
Crude prices continued to weaken on Wednesday despite the dollar edging lower, as the physical market’s weakness filtered through the futures’ market. Weak physical crude…
Brent prompt month futures remained range-bound on early Monday, as newly implemented European travel restrictions were anticipated to reduce gasoline and jet demand in February. Furthermore, lower speculative demand on WTI contract is likely to have eased upward flat price pressure, as shown by the latest CTFC report. Finally, Saudi official selling prices are expected to dip lower, compared to the benchmark, as Asian demand looks increasingly uncertain.
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