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Prices Jump Again on Winter Fuel Fears

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The rally in oil futures gained pace with some traders now eyeing $100 per barrel amid fears of a serious supply crunch this winter. Opec, the International Energy Agency and the US Energy Information Administration are all predicting large-scale stock draws before the end of the year, despite lingering questions around the strength of demand. The market is struggling to manage Opec-plus production cuts, as well as additional voluntary output and export cuts by Saudi Arabia and Russia. Middle distillates are under particular strain, given that most of the cuts are in diesel-rich grades.

Jet Fuel, Crude Oil, Diesel/Gasoil, Oil Spot Markets
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