Brent Hangs Onto $40 Amid Dire Refining Outlook

摘要

Crude oil futures inched higher on Wednesday to recoup some of their losses from the previous session,but the larger market mood was still on the bearish side due to an increasingly troubling downstream outlook.High demand expectations and hopes that a"V-shaped"recovery in the equities market would extend to oil have kept prices artificially high,although physical traders have been warning that oil prices would eventually realign with supply and demand fundamentals."The rout was led by Wall Street deciding that they had bought quite enough of everything,thank you very much,and did an about-face,"said senior Star Fuels broker Matt Stanley.