Oil-to-gas switching still not materialising
Crude prices remained supported by the rest of the commodity complex, with the White House urging OPEC+ nations to increase their output. Since last Friday, the…
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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