Tight Physical Market Indicators Start to Peak

摘要

Oil prices were mixed Tuesday and nearly flat. Global benchmark ICE Brent gained 21c to settle at $72.18 per barrel in London, while Nymex West Texas Intermediate (WTI) lost 11c to settle at $62.99/bbl in New York. The physical market is signaling it is undersupplied, keeping prices from falling even as investors worry that the escalation of tariffs between the US and China will hinder demand growth this year (IOD May13’19).