With reports of lower diesel inventories reported in Europe, alongside claims that Russian oil refiners have started to cut back on refinery throughput due to sanctions,
(Bloomberg) The two-year Covid crisis put many markets on a wild ride just look at U.S. treasuries but few have had a crazier time than crude oil: from total collapse in 2020 to the brink of $100 a barrel today. It’s not only the price swings that have shocked motorists, investors, CEOs and…
Three of the world’s biggest oil traders were at odds about where the oil price would be this time next year, with Vitol taking a bearish view while Gunvor and Trafigura stayed bullish. Benchmark Brent crude LCOc1 surged above to $81 a barrel on Monday, hitting a three-year high and up more than 50% so .