Oil rebounded and volumes were low
On Monday, ICE Brent front month price went 0.9% up, closing at $114.13/b. Due to a public holiday in the US, there was no settlement…
ICE Brent crude prompt future continued to weaken towards 67 $/b mainly due to a rather bearish API data survey, showing that the US crude market continued to be strongly oversupplied, while Texan refineries struggled to ramp up output. Japanese markets showed weakness too, as refining runs struggled to ramp-up despite falling oil products inventories.
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