View full page at metalsmine.com

 

Here's What Refining Margins Say About the State of the Oil Market

From bnnbloomberg.ca

With an uncertain picture on oil supply and demand, traders are searching for any clear clues on where the market is headed. On Sunday, Saudi Arabia announced unilateral cuts to crude production, on top of already pledged reductions in output that it is making alongside other producer nations. Oil futures initially rose, then fell again because the market is dogged by uncertainty about demand. But the profits refineries make from turning crude into fuels like gasoline and diesel have been creeping up for the past several weeks, suggesting end-user consumption is at least holding up. Bloomberg recently asked three ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis