CRUDE SUMMARY: Global prices supported by shorter US oil supply

摘要

LONDON (ICIS)--After opening in positive territory, oil futures scaled the price curve on Wednesday, as oil markets responded to a series of supply disruptions. Fundamentals remained mostly unchanged and were hence still supportive of prices, with longer-term prospects of a shorter supply still looming ahead and a tighter physical oil market still underpinning the forward curve up move. As a result, investors reacted more sharply to an unplanned supply outage at one of Canada’s largest oil sands processing plant.