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  • Article / 06 June 2018 at 12:12 GMT

    Crude oil market caught in a flood of conflicting news

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude oil market caught in a flood of conflicting news
    WTI Crude oil, down 10% from its recent peak, must currently absorb a lot of conflicting news. Venezuela's output is in free fall; the US has asked Saudi Arabia and others to raise production; there's a widening discount to Brent and solid demand growth is starting to be questioned. Some of these developments threaten to break the harmony within Opec as the members prepare to meet on June 22.
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    06 June
    ambro ambro
    Ole, interesting, thanks a lot, any idea for how long the brent wti spread can stay at these levels?
    06 June
    Ole Hansen Ole Hansen
    Charts and tables concerning the EIA weekly stock report can be found on twitter @ole_s_hansen or #SaxoStrats
    06 June
    Ole Hansen Ole Hansen
    @Ambro. US oil and fuel stocks saw its biggest weekly rise since 2008 last week according the EIA report just out. As long US crude oil production...