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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (148904)	4/7/2023 9:46:34 AM
From: Goose94	Read Replies (1) of 202988

Crude Oil: Recession Fears Loom Over Oil Markets Once AgainFollowing the explosive rally in oil prices seen earlier this week, additional increases have been sluggish despite notable stock draws in both US crude and product inventories. With US demand coming back after a weak Q1 and OPEC+ getting really serious about curbing production, supply-side factors appear to indicate further upside. At the same time, macroeconomic woes might once again spoil the party, especially if weak US labor market data rekindle the fire of demand destruction. Recession Fears Weigh on Diesel Prices In contrast to rising oil prices, the premium of diesel against Brent or WTI has been shrinking for the past six months with its crack now at $130/mt as its cyclical sensitivity makes it vulnerable to declines in business activity and lower manufacturing orders.

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