29 April 2024
Pricewatch – Crude fundamentals hint at oil price tug-of-war
Publication date: 01 September 2017
Gas Strategies Group
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ISSN: 0964-8496
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Global oil prices have entered a period of volatility this week as traders try to incorporate ongoing and futures effects of Hurricane Harvey into the curve, but a heady combination of conflicting fundamentals within the US hint that the confusion could outlast the storm.
On the bullish side, US offshore production in the Gulf of Mexico is down and exports have fallen due to...