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Reuters columnist John Kemp reports that global oil markets are rebalancing gradually, but more slowly and unevenly than OPEC and bullish hedge funds expected. Hedge funds have assumed the rebalancing will proceed, which leaves positioning exposed if it stalls.
If rebalancing stays slow, crude could lack the upward push that funds are pricing in, which would weaken energy-linked costs and biofuel margins that feed into vegetable oil and feed pricing.
reuters.comJohn KempMar 14, 2017Not 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.
