The factors that suppressed oil are running out: U.S. supply response, Chinese demand suppression/stock releases, and talk of a deal. The bottleneck is moving downstream and is stickier, with record diesel crack spreads and jet fuel near $200, while oil products and LNG are not getting through like crude, spiking Asian gas prices; this could get a lot worse into winter.
The factors that suppressed oil are running out: U.S. supply response, Chinese demand suppression/stock releases, and talk of a deal. The bottleneck is moving downstream and is stickier, with record diesel crack spreads and jet fuel near $200, while oil products and LNG are not getting through like crude, spiking Asian gas prices; this could get a lot worse into winter.
The factors that suppressed oil are running out: U.S. supply response, Chinese demand suppression/stock releases, and talk of a deal. The bottleneck is moving downstream and is stickier, with record diesel crack spreads and jet fuel near $200, while oil products and LNG are not getting through like crude, spiking Asian gas prices; this could get a lot worse into winter.