Loading…
Markets turned bearish as refinery maintenance produced larger-than-expected crude builds, and WTI flipped to a slight contango in the short term. Brent stayed fully backwardated on concerns about Iran sanctions, while US crude stocks had risen 56 million barrels over June to October last year but fell 55 million this year.
A shift toward contango in WTI and rising US crude stocks point to softer near-term energy prices, while Brent's backwardation keeps international supply risk priced in.
mansfield.energyAlan ApthorpOct 19, 2018Not 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.
