Strength from the East
Crude time spreads gave a boost to the crude complex, by hiking to 25 cents backwardation at the prompt, while front-month ICE Brent crude reached…
CE Brent prompt contract continued to experience downside pressure at 65.2 $/b on early Friday, as prompt time spreads weakened to a single digit. Time spreads below 10 cents reflect the weak fundamentals and the expectations of a ramp-up in Iranian exports which could limit the current crude deficit.
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