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A single oil trading firm sparking price run-up for U.S. physical crude (Bloomberg report)

A single oil trading firm sparking price run-up for U.S. physical crude (Bloomberg report)
Bloomberg with the report (gated) saying that the trading arm of French oil and gas producer TotalEnergies is bidding up the U.S. physical crude market.In brief: WTI crude for delivery at the Cushing hub in Oklahoma has jumped to its highest premium since November TotalEnergies' willingness to pay up for WTI crude is a reflection that high refining margins are driving competition for U.S. oil as global supplies have tightened significantlyU.S. refining margins remain historically high at ~$30/b... Read More
Posted: Sep 20 2023, 00:24
Author Name: forexlive
Views: 091166

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