Marketview: Diesel on the Floor

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Global benchmark Brent crude dropped below $90 per barrel again this week but promptly rebounded above that threshold. Technical traders say Brent remains well above its next key support level — in fact, the front month contract is closer to resistance than support. For all the bearish sentiment and fears about a recession driving prices, expectations of a tight market — especially for heating fuels during winter in the Northern Hemisphere — seems to be putting a floor under oil.

Oil Demand, Oil Products, Diesel/Gasoil
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