WTI crude hangs above $80 per barrel as geopolitical risks have eased somewhat, but haven't disappeared altogether. Fuel Oil Is Having Its Sunshine Moment - Fuel oil has risen to prominence as the most improved oil product of late, boosted by higher demand from Asia’s power generation sector as well as limited supply of heavy crudes required to produce it.
- The US’ snapback of sanctions against Venezuela and Mexico’s sudden cut to exports of heavy sour grades such as Maya have greatly limited the pool of heavier crudes…Oil Takes a Breather as Geopolitical Risk Eases
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