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Commodities Briefing - Categorized | Oil, Price Watch more

Why WTI crude oil is well supported above $95/bbl

Posted on 18 February 2014

Before we delve into the wider aspects of WTI crude oil, let us just get into the real reasons behind the Barclays’ belief that the said variety is poised to maintain a level above $95/bbl in the days to come. In fact, the bank rules out the possibility of WTI exhibiting any weakness in the first quarter of 2014, thanks to the healthy nature of US crude oil demand and the situation of product inventories.
The bank notes in a report that PADD II (Petroleum Administration for Defense Districts II) refinery runs stand close to 94% of capacity even as the maintenance for refineries in the said district is low for Q1: the figure runs into 30,000 barrels/day………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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