The crude oil futures are now over 71 USD/barrel. All papers are claiming following reasons: the weakening dollar, the buying panic of hedgers and airlines and the lower than expected inventories in the States.
Not only the dollar is here the culprit, as the price of crude is also in EUR rising. It's all part of the game where the unwinding of the contango is raking huge profits for all those players who bought oil a couple of monts ago in the spot market and sold it forward.
Sphere: Related Content
No comments:
Post a Comment