Crude term structures point to rebalancing

摘要

New York-Tightening term structures across much of the oil complex offers a strong suggestion that the long-anticipated rebalancing of the physical oil market could be underway. Deutsche Bank analysts said Friday crude oil fundamentals have been supportive of a flattening curve, noting the US Energy Information Administration reported Wednesday a modest build in crude stocks last week despite a pick-up in imports. “This was accompanied by an on-trend decline in production and strong product demand for a second week driven by gasoline,” the bank analysts said.