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Crude oil traded soft over the week as improving near-term supplies and uncertain demand widened forward curves. European gasoil cracks fell to a ten-year low and Singapore distillate stocks hit a nine-year high.
Hurricane disruptions reduced US diesel shipments briefly.
Ample distillate and crude inventories and weak refining margins point to continued soft energy prices, while a firmer dollar adds pressure on metals and dollar-priced commodities.
think.ing.comWarren PattersonSep 4, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
