A potential tightening of the global heavy crude market may push up the value of the Dubai benchmark in opposition to ICE Brent as China will scramble to switch the misplaced Venezuelan barrels, the analysts said last week. And now oil and commodity experts at Commonplace Chartered have reported that the Brent crude price of $95/bbl seems to symbolize an uneasy equilibrium between hopes of de-escalation and structural tightness in physical balances that is increasing as time passes. The estimated increased greater than offset the prior week’s draw of https://fairspinca.ca eleven.1 million barrels.
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