Strong Crude Structure Enables Release of Crude from Floating Storage

Capt. John
  • There has been a strengthening in the Middle East’s Dubai crude market structure.
  • Several million barrels of the Middle East sour crude from floating tankers off Malaysia has been released.
  • Four tankers are scheduled to lift cargoes from Malaysia’s port of Sungai Linggi and Tanjung Pelepas.
  • Dubai futures inter month spreads have flipped to backwardation.
  • It is a market state where prices in the prompt months are higher than the latter months.
  • This move comes after being in a state of contango...

https://mfame.guru/strong-crude-structure-enables-release-of-crude-from-floating-storage/

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