#Latest news with #storagehubsBloomberg5 days agoBusinessBloombergKey US Oil Gauges Strengthen as Canada Fires Imperil Vital FlowsKey gauges of US oil market strength are soaring as wildfires in Canada risk flows to critical American storage hubs, limiting the impact of OPEC+ supply increases. In a move suggesting traders see near-term demand outstripping supply, West Texas Intermediate's prompt spread — the price difference between futures for July delivery versus the next month — surged as high as $1.20 a barrel on Monday, the biggest premium since January.
Bloomberg5 days agoBusinessBloombergKey US Oil Gauges Strengthen as Canada Fires Imperil Vital FlowsKey gauges of US oil market strength are soaring as wildfires in Canada risk flows to critical American storage hubs, limiting the impact of OPEC+ supply increases. In a move suggesting traders see near-term demand outstripping supply, West Texas Intermediate's prompt spread — the price difference between futures for July delivery versus the next month — surged as high as $1.20 a barrel on Monday, the biggest premium since January.
5 days ago
