Mediterranean troubles
Crude prices steadied above 81 $/b for the March ICE Brent contract and front-month backwardation remained strong, above 60 cents, as Libyan output was expected…
Brent prompt future contract rallied to 66.2 $/b, as product buyers aggressively bid gasoline resources in the US to secure to supply in those highly uncertain conditions, lifting the potential for crude prices to rally. The market consensus anticipates steep draws in US petroleum markets.
Get more analysis and data with our Premium subscription
Ask for a free trial here