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Commodities Briefing - Categorized | Investment, Market Moves, Oil more

Oil investor impatience grows over global surplus

Posted on 08 November 2016

Oil investors are growing increasingly disgruntled with the pace at which supply and demand are rebalancing, cutting their bullish bets and pushing the benchmark price to its biggest discount relative to future prices in nine months.
The premium of Brent crude futures for delivery in six months over those for prompt delivery, one measure of confidence in the market outlook, on Monday shot to its largest since February, the point at which Opec first floated the idea of a possible deal on output to erode a two-year-old global surplus………………………………………Full Article: Source


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