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Short-term Global Oil Service
Weekly Fundamentals - Increased likelihood of a US/Iran deal being reached this month sparks a crude sell-off
Published: 20 May, 2021
Highlights:
- Long-dated prices shed $2/bbl w-o-w, further downside will emerge if a US/Iran deal is announced
- WTI’s discount to Bent narrows as Colonial Pipeline pressures ease – arb economics suggest more support for WTI ahead
- On-land stocks have built by 14 mmb so far in May
- Angola – Crude ...
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