BLOOMBERG.COM
The market for physical barrels of crude from places as far apart as Oman and Colombia is strengthening beyond the traditional seasonal peak in demand, a positive indicator for global benchmark futures prices that remain stuck near $50. Physical differentials -- the price gap between individual grades of crude and widely traded markers like Brent or West Texas Intermediate -- have strengthened over the last two weeks, according to data compiled by Bloomberg. That’s happening even for barrels due to be shipped in late September and October, typically a period of weaker demand due to seasonal refinery maintenance.
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The market for physical barrels of crude from places as far apart as Oman and Colombia is strengthening beyond the traditional seasonal peak in demand, a positive indicator for global benchmark futures prices that remain stuck near $50. Physical differentials -- the price gap between individual grades of crude and widely traded markers like Brent or West Texas Intermediate -- have strengthened over the last two weeks, according to data compiled by Bloomberg. That’s happening even for barrels due to be shipped in late September and October, typically a period of weaker demand due to seasonal refinery maintenance.
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